Amazon Uncovers Massive Fraud Scheme Involving Fake Product Returns
Amazon is taking legal action against an alleged international fraud ring accused of pilfering millions through a scheme that facilitated refunds for pricey items without the need to return them.
Dec 09, 2023 7:33 AM EST
Investors Flee US Stocks as Economic Data Hints at a Possible Downturn
In the tumultuous landscape of U.S. financial markets, the seven days leading up to December 6 unfolded as a continuation of withdrawals from U.S. stock funds for a second consecutive week.
Unveiling the Wealth of Money Lessons Hidden in Social Circles
Understanding money and financial behaviors often involves looking beyond traditional economic indicators. Surprisingly, a new avenue for gaining insights into personal finance has emerged: observing your friends.
Inventory Mystery Deepens: Retail Industry Pulls Back on Organized Crime Blame
The largest retail trade association in the country, the National Retail Federation, has updated a study from April that retracted the assertion that organized retail crime is responsible for over half of the industry's overall shrinkage. The survey evaluates total inventory loss, including theft.
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Job Market Sees November Surge, But Underlying Trend Points to a Looming Slump
November saw a significant pick-up in U.S. job growth as thousands of actors and autoworkers returned to the workforce following strikes; nevertheless, the underlying trend is likely to indicate a cooling labor market.
Dec 08, 2023 7:26 AM EST
High-Priced Prescription Drugs Face Patent Revocation Threat from White House
The Biden administration is putting pharmaceutical corporations on notice, telling them that if the price of some pharmaceuticals becomes too high, the government may revoke their patent protection, allowing competitors to produce their own copies.
Dec 07, 2023 9:43 PM EST
Investors Go Gaga for Fine Wine as Global Market Booms
As the French wine region of Beaujolais celebrates the start of a new season, a sign in Villefranche-sur-Saône states, "There are few things in life that can't be enhanced by a fine wine."
Dec 07, 2023 9:10 PM EST
Biden's $4.8 Billion Student Loan Forgiveness Plan Offers New Beginnings for Thousands
On Wednesday, the Biden administration said that it will erase an extra $4.8 billion of 80,300 students' student loan debt.
Dec 07, 2023 8:52 PM EST
Golden Arches Around the Globe: McDonald's Plans Massive Expansion and AI Integration
In what it hopes to be the "fastest period of growth" in its 60-year history, McDonald's aims to create over 10,000 new locations worldwide by 2027, the business announced in a news release on Wednesday.
Dec 07, 2023 10:56 AM EST
China's Shipments Surge After Six-Month Slump, Bringing Relief to Factories
For the first time in six months, China's exports increased in November, indicating that manufacturers in the second-biggest economy in the world are drawing customers with low prices in an effort to recover from a protracted decline in demand.
Dec 07, 2023 6:49 AM EST
CEOs Urge Lawmakers: Pump the Brakes on Regulations, Risk Economic Fallout
The heads of Wall Street's largest banks appeared on Capitol Hill on Wednesday to ask senators to stop the Biden administration's proposed changes to how banks are regulated, warning that the new proposals could harm the economy at a time of geopolitical turmoil and inflation.
Dec 06, 2023 7:29 PM EST
US Consumers Face a Tsunami of High Interest Rates and Mounting Credit Card Debt
Next year, the U.S. economy should be able to escape a recession, but economist Carl Weinberg says one of the biggest dangers to that outcome is a significant decline in consumer spending.
Dec 06, 2023 10:33 AM EST
Twitch to Pull the Plug on South Korean Operations Amidst Mounting Costs
Due to excessive operational expenses and network fees, Twitch, the streaming division of Amazon, said on Tuesday that it will cease operations in South Korea in February of the next year.
Dec 06, 2023 7:50 AM EST
High-Speed Rail to Connect Vegas and LA Thanks to $3 Billion Grant
The Biden administration pledged $3 billion on Tuesday to assist start constructin track for a planned high speed rail connection between Las Vegas and the Los Angeles area, Nevada elected leaders said.
Dec 05, 2023 9:47 PM EST
Pakistanis Grapple with Inflation as Floods and Politics Fuel Cost Crisis
The prolonged economic crisis has affected millions of Pakistanis, as the nation receives its 23rd bailout from the International Monetary Fund (IMF) since 1958.
Dec 05, 2023 10:50 AM EST
Nokia Stumbles After Losing AT&T, Shares Hit Three-Year Low
Nokia's stock fell to a three-year low after the telecom giant missed out on a significant agreement to launch a new network in the United States alongside AT&T, the industry titan.
Dec 05, 2023 10:33 AM EST
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