Business Archives - Page 3 of 45

Ex-Fed President Kaplan Warns Banking Crisis Is ‘More Serious’ Than Public Knows

Former Federal Reserve Bank of Dallas President Robert Kaplan has warned that the mounting banking crisis is "more serious" than the American public realizes. Kaplan says the situation is direr than commonly believed and he's calling the central bank to pause its rate hiking cycle. In an interview on Bloomberg…

Pfizer Reports Massive Drop in Revenue as Covid Vaccine Sales Crash

Pharmaceutical giant Pfizer has just revealed that its revenue dropped dramatically in the first quarter of 2023. The drop is primarily due to COVID-19 vaccine sales plummeting. The company reported $18.3 billion in revenue. The figure is a significant drop from the $25.6 billion the company raked in during the…

JPMorgan Buys First Republic Bank after Regulators Seize Control

JPMorgan Chase is buying First Republic Bank after the beleaguered institution was seized by the Federal Deposit Insurance Corporation (FDIC). As Slay News reported, First Republic collapsed late last week, marking the third significant implosion in under two months. Regulators stepped in after the First Republic's shares plunged further to…

Elon Musk Slams Child Sex Changes, Warns ‘Surgery or Chemical Sterilization’ Causing ‘Increased Suicides’

Twitter boss Elon Musk has spoken out to warn the public about the dangers of putting children through life-altering sex-change treatments. Since his takeover of Twitter, Musk has been outspoken on the issue of gender-transitioning minors. In a post on Twitter last week, Musk cited a study conducted in Sweden…

US Regulators Warn AI Firms to Comply with Laws, Say They Already Have Power to Crack Down on Misuse

U.S. federal government regulators have issued a warning to artificial intelligence (AI) companies about potential misuse of the rapidly advancing technology. On Tuesday, several federal government agencies warned that they already have the power to prevent unlawful “bias in algorithms and technologies” marketed as AI. Four federal agencies joined forces…

REI Closes Portland Store Over Soaring Crime Rates

Popular outdoor recreation retailer REI is closing its store in Portland, Oregon, due to the city's soaring crime rates. The company announced on Monday that it is shuttering the Pearl District store located in downtown Portland due to increasing local crime. REI also revealed that it has suffered retail loss…

Goldman Sachs: AI Could Automate Two-Thirds of All American Occupations

Goldman Sachs economists have warned that two-thirds of all occupations across America could be partially automated by artificial intelligence (AI). Top economists Joseph Briggs and Devesh Kodnani issued the warning in a report published on April 5. According to the report, a new wave of AI systems, such as ChatGPT,…

Americans Paid $5 Trillion in Taxes to IRS Last Year Alone

The Internal Revenue Service (IRS) raked in a record-breaking $5 trillion in taxes last year. The amount of taxes collected from Americans has soared under President Joe Biden, an analysis of IRS data shows. Tax enforcement has also risen under Biden compared to President Donald Trump’s tenure. According to the…

Trump’s Business Empire Is Expanding, Financial Report Shows

President Donald Trump's vast business empire has been expanding since his return to private life, his recently filed personal financial disclosure report shows. Trump's business is now valued at around $1.2 billion, according to the 101-page report (pdf) filed with the Federal Election Commission (FEC). The news comes as Trump…

IRS Warns Time Running Out to Claim $1.5 Billion in Unclaimed Refunds for 2019 Tax Year

The Internal Revenue Service (IRS) has warned American taxpayers that time is running out to claim tax refunds for 2019. On Wednesday, the IRS announced that over a million Americans have unclaimed tax refunds for the 2019 tax year. The deadline to make the claims is now looming as a…