Business

(WASHINGTON) — Starbucks’ former CEO Howard Schultz on Wednesday denied breaking the law in response to sharp criticism from Sen. Bernie Sanders, I-Vt., who accused the company of “the most aggressive and illegal union busting campaign in the modern history of our country.” In response to questions from Sanders during a Senate hearing, Schultz affirmed […]

(WASHINGTON) — When Starbucks’ most famous former CEO, Howard Schultz, appears Wednesday before a Senate committee to face questioning from Bernie Sanders over the company’s response to a unionization push — including what a labor judge found to be union-busting practices — he’ll look to paint Starbucks as a “different kind of public company” that […]

(NEW YORK) — Embattled crypto executive Sam Bankman-Fried now faces an additional criminal charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, according to a superseding indictment unsealed Tuesday in the Southern District of New York. The new charge brings to 13 the total number of counts Bankman-Fried faces, all […]

(WASHINGTON) — The country’s top banking regulators faced a grilling from lawmakers Tuesday about who was responsible for the the failures of Silicon Valley Bank and Signature Bank. The Senate Banking Committee heard testimony from officials at the Federal Reserve, Federal Deposit Insurance Corporation and the Treasury Department in its first hearing about the overnight […]

(NEW YORK) — Social media app TikTok faces mounting bipartisan hostility in Washington D.C., where Biden administration officials and lawmakers are weighing a possible ban of the platform. The app, which counts more than 150 million U.S. users each month but is owned by a China-based parent company, has faced growing scrutiny from government officials […]

RapidEye/Getty Images (LOS ANGELES) — Taylor Swift fans will get their day in court on Monday, months after the botched release of tour tickets prompted widespread outcry. A federal court in Los Angeles will hear arguments in a case brought by fans who allege that Live Nation — and subsidiary company Ticketmaster — violated antitrust […]

(NEW YORK) — It’s a trend that’s surprised even Rolls-Royce executives: Tesla owners frantically placing preorders for Spectre, the first all-electric Rolls-Royce that costs more than $400,000. The 118-year-old British automaker begins production of Spectre, a chic, uber-luxe coupe that seats four, this fall. Pre-orders are already in the thousands — with some customers forced […]

Patrick T. Fallon/AFP via Getty Images, FILE (NEW YORK) — First Citizens Bank will buy about $72 billion in assets from the failed Silicon Valley Bank, the Federal Deposit Insurance Corporation said. Silicon Valley Bank, a regional lender with about $210 billion in assets, collapsed earlier this month. The bank had been the 16th largest […]

(NEW YORK) — Gordon Moore, the co-founder and former chairman of tech giant Intel, died Friday at the age of 94, the company and the Gordon and Betty Moore Foundation announced. A press release stated Moore died “surrounded by family” in Hawaii. Moore and Robert Noyce founded Intel in 1968. Moore initially served as executive vice […]

(NEW YORK) — The banking crisis that erupted earlier this month elicited some predictions of a halt in interest rate hikes, since previous borrowing cost increases garnered blame for the financial distress. Instead, the Federal Reserve on Wednesday imposed another hike, extending a yearlong blitz of rate increases that risks further banking woes and squeezes a […]