Business Archives - Page 14 of 45

Stellantis Plant Prepares for 1,350 Layoffs Due to Rising Electric Vehicle Production Costs

Stellantis’s assembly plant in Illinois could see 1,350 layoffs as the company struggles with rising electric vehicle production costs. The Belvidere plant, which manufactures the Jeep Cherokee SUV, employs around 1,350 workers at the site. Stellantis is planning to indefinitely halt operations at the plant. The move will result in…

Newt Gingrich: Twitter Interfered with U.S Elections

Social media company Twitter played a key role in interfering in America's elections, according to former House Speaker Newt Gingrich. Gingrich describes the revelations coming from Twitter’s new owner Elon Musk about the platform’s behind-scenes operation to suppress certain viewpoints as “pretty horrifying.” He says the "Twitter Files" release shows…

New York Times Staff Go on Strike, Protest for Better Conditions, Higher Wages

Staff members at the New York Times have called a strike and are protesting for better working conditions and higher wages. On Thursday, employees held a picket-line demonstration outside the newspaper's headquarters in midtown Manhattan. Many were wearing red shirts and holding signs reading: “New York Times Walks Out.” Susan…

Musk Says ‘Twitter Files’ Were Compromised as He Fires Ex-FBI Twitter Lawyer Behind ‘Vetting’ Data

Twitter boss Elon Musk has revealed that the “most important data” from the "Twitter Files" may have been compromised. Musk says key parts of the social media platform’s internal communications on free speech suppression, known as the “Twitter Files,” were hidden and some may even have been deleted. The Twitter…

Over 40 Percent of Americans Expect Housing Market to Crash Next Year, Survey Shows

Over 40 percent of Americans say they believe the U.S. housing market will crash next year, a new real estate industry survey has revealed. According to the survey, conducted by LendingTree on more than 2,000 Americans, a lot of consumers have a very gloomy outlook about the market. Fears of…

Renowned Economist Nouriel Roubini Warns ‘The Mother of All Economic Crises Looms’

Renowned economist Nouriel Roubini has warned that "the mother of all economic crises" is now looming. Roubini says he fears policymakers will likely not be able to handle the scale of the impending economic crisis in the global economy. Roubini raised the alarm in a December 2 article for Project…

FTX CEO Sam Bankman-Fried Says He ‘Will Testify’ to Congress about Collapse

Sam Bankman-Fried, the former CEO of bankrupt cryptocurrency platform FTX, appears to be holding all the cards regarding his congressional investigation and has said he "will testify" about his company's collapse. In a statement Sunday, Bankman-Fried said that he “will testify” before Congress but left open the possibility that it…

Musk: ‘New Twitter’ Will Push Mainstream Media to Be More Truthful

Elon Musk has revealed the “new” version of Twitter will seek to push the mainstream media to become more truthful. Under his leadership, Musk says Twitter will put competitor pressure on the media to “stop toeing the line.” The comment was made during a live Q&A session on late December…

IRS Warns Americans: Report $600 Transactions from Payment Processors or Risk Audit

The Internal Revenue Service (IRS) is warning American taxpayers that failure to report transactions of $600 or more from payment processing services will run the risk of an audit. The IRS is cracking down on payments made through networks like Venmo, Paypal, and Cash App. The move comes as the…

Company Seeks to Build Terminal on Delaware River to Export LNG to Europe

An American energy company is seeking to build a new terminal on the Delaware River to export liquefied natural gas (LNG) to Europe. Penn American Energy is in the early stages of developing a $6.8 billion LNG export terminal in Pennsylvania. The state is the nation’s second-largest producer of natural gas,…