Economy Archives - Page 30 of 58

‘Black Swan’ Author Says Colleges Should Pay for Biden’s Student Loan Wipeout, Not Taxpayers

Economist Nassim Nicholas Taleb has criticized President Joe Biden’s controversial student loan debt forgiveness plan. Taleb, the author of the bestselling book “The Black Swan” which deals with the extreme impact of rare events, argues that colleges should foot the bill for the scheme and not U.S. taxpayers. Taleb's book…

Germany’s Fears of Winter Gas Shortages Ease as Storage Fills up Faster than Expected

Germany’s Economy Minister Robert Habeck has announced that the German government's fears of major natural gas shortages over the winter are easing. The relief comes as the country’s gas storage facilities are filling up faster than expected. The news provides some hope amid fears of chronic shortages this winter due…

Facebook to Settle Cambridge Analytica Data Privacy Lawsuit

Meta’s Facebook has agreed to settle a lawsuit that alleges the social media platform inappropriately shared user data with third parties, including Cambridge Analytica. A joint stipulation (pdf) filed in San Francisco District Court Friday disclosed the preliminary settlement while giving no financial terms or details of the agreement. Lawyers…

Fed’s Powell Warns of Economic Pain: Inflation Fight Will Last ‘Some Time’

Federal Reserve Chairman Jerome Powell has warned Americans to brace for a long period of economic pain, revealing that he expects the fight against inflation will last "for some time." The Federal Reserve will use its tools “forcefully” to attack the 40-year high level of inflation by continuing to tighten…

Elon Musk’s SpaceX Partners with T-Mobile to Fill Cellphone Network ‘Dead Zones’

Elon Musk’s SpaceX is partnering with T-Mobile to fill "dead zones" in the cellphone provider's network across the United States. The companies announced on Thursday that SpaceX’s Starlink satellites will provide cellphone users with network access in parts of the U.S. where coverage doesn’t currently exist. The “Coverage Above and…

Biden’s Student Loan Forgiveness Benefits White House Staffers, Watchdog Reveals

President Joe Biden’s newly announced student loan forgiveness scheme will benefit several White House staffers, a watchdog group has revealed. The plan stands to benefit a number of Biden appointees who qualify for the debt wipeout scheme. Republicans have panned the move as “wildly unfair redistribution” and accused the president of…

Lawmakers Investigating Twitter over Whistleblower’s Explosive Allegations

Congressional lawmakers are investigating explosive allegations made against Twitter by a whistleblowing former executive. As Slay News reported, Twitter’s former chief of security has made a major whistleblower complaint against the social media company. The allegations from Peiter Zatko, the whistleblower who served as Twitter’s head of security for around…

European Central Bank: Cash ‘Not Fit’ for Digital Economy

The European Central Bank (ECB) has dismissed privacy concerns about a central bank digital currency (CBDC) and declared that physical cash is "not fit" for a digital economy. According to a new paper from the ECB, cash is no longer a useful tool, and a CBDC is the “only solution”…

Soaring Inflation Drives up Cost of Raising a Child by More Than $1,500 per Year

Soaring inflation has driven up the cost of raising a child by more than $1,500 per year, a new report has revealed. Raining a child from birth to 17 years old has now increased by around $1,530 per year to a total of over $300,000, according to a Brookings Institution…

Bank of America CEO Issues Warning about Biden’s Recession Rhetoric

Bank of America CEO Brian Moynihan has slammed Democrat President Joe Biden's economic rhetoric and issued a warning about his administration's attempts to twist the definition of a recession. The Biden administration repeatedly downplayed the definition ahead of an economic report that showed the United States experienced two consecutive quarters…