Author: Press Room

Not all banks are created equal. Some bank failures, like those in 2008, have the power to paralyze the entire global economy, and others, like the ones we’re seeing now, are simply painful illustrations of what happens when avarice is exposed.”This was NOT a systemic event,” the famed short-seller Jim Chanos, the founder of Chanos & Company, told me. “This was a duration-mismatch problem. It only affects a few really dumb, greedy institutions.” Dumb because they were run by bankers who failed to do the business of banking or manage risk. Greedy because the bankers behaved that way in order…

Some Amazon offices won’t be ready to fully accommodate employees until September, an internal note said. Amazon announced in February that employees should come into the office three times a week, starting in May. The delayed office readiness dates for some locations show Amazon may have rushed its return-to-office announcement. Amazon’s leadership has said they want all employees back in the office at least three times a week starting in May. But many of the company’s buildings won’t be ready to accommodate their full slate of employees for that level of use for months after the deadline. It’s a sign…

Avidity Biosciences, Inc. (NASDAQ:RNA) is a great speculative biotech play to look into. The reason why I believe it’s important to take a look at this particular biotech is because it is exploring the use of oligonucleotides put together with monoclonal antibodies to treat patients with rare muscle disorders. This includes the advancement of several phase 1/2 studies dealing with diseases like: Myotonic Dystrophy Type 1 [DM1], facioscapulohumeral muscular dystrophy [FSHD] and Duchenne Muscular Dystrophy [DMD]. Avidity Biosciences is using its very own developed Antibody Oligonucleotide Conjugates [AOCs] platform in order to treat these muscle disorders. However, it is making…

Donald Trump has sued Michael Cohen, his ex-lawyer and a crucial witness in the “hush money” case brought against the former president by Manhattan prosecutors, seeking at least $500mn for alleged breaches of contract and confidentiality agreements.The lawsuit was filed in the Southern District of Florida just a few weeks after Cohen repeatedly testified before a grand jury in New York about the $130,000 he paid to buy the silence of porn actress Stormy Daniels in the days before the 2016 election. Daniels, who also testified before the Manhattan grand jury, had claimed she had an affair with Trump, which…

Democratic Minority Leader Hakeem Jeffries has said he had only a “vague recollection” of the controversy surrounding his uncle, Black studies professor Leonard Jeffries, who eventually lost his job over incendiary comments about Jewish people. CNN’s KFile looks into Jeffries’ past defense of his uncle.Source: CNN Read the full article here

U.S. stock indexes finished mostly lower after trading in a narrow range on Tuesday as investors awaited key inflation data that could determine whether the Federal Reserve will once again raise interest rates at its meeting in May. The Dow Jones Industrial Average advanced 98 points, or 0.3%, to end at 33,685, while the S&P 500 ended nearly flat and the Nasdaq Composite shed 0.4%. The March CPI reading from the Bureau of Labor Statistics, is expected to show a 5.1% rise from a year earlier, slowing from a 6% year-over-year rise in the previous month, according to a survey…

There’s less than a week left to guarantee the full $7,500 electric-vehicle tax credit for some popular EV models that will soon no longer qualify. But for would-be buyers who haven’t yet purchased their EV, securing one by April 18—the deadline to land the credit—won’t be easy. The Internal Revenue Service has changed its rules on which EVs are eligible to receive the full tax credit, based on legislation included in the Inflation Reduction Act signed last summer. Fully eligible EVs must be assembled in North America and have batteries that largely run on critical minerals “extracted or processed” in…

One year after credit-reporting firms removed certain medical debt from U.S. consumers’ credit reports, 70% of the debt is no longer visible on their reports. Last year, the three major credit bureaus in the U.S., Equifax EFX, Experian UK:EXPN, and TransUnion TRU, said they would stop counting certain medical debt in credit reports. The proposed change was a major overhaul in how medical debt was factored into an individual’s financial performance. Last… Read the full article here

The Biden Administration is advancing the toughest-ever proposed limits on tailpipe emissions from cars, SUVs, vans and pickup trucks, an expected move that brought cheers from environmental policy-setters and prompted others to warn vehicle prices would rise in response. The proposal announced Wednesday from the Environmental Protection Agency increasingly raises restrictions each year on tailpipe emissions of carbon dioxide, smog-forming nitrogen oxide and other pollution from vehicles for model years 2027 through 2032…. Read the full article here

© Reuters. FILE PHOTO: The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann/File Photo By Tom Polansek CHICAGO (Reuters) -About 150 employees of a Tyson Foods Inc (NYSE:) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 non-union employees, as it seeks to improve performance in its chicken business. Employees refused to work in part because Tyson said they would…