Business Archives - Page 32 of 45

Airbnb Sued for Misleading Prices by Australian Authorities

Online accommodation marketplace Airbnb has been hit with a lawsuit by Australian authorities for alleged misleading pricing practices. In a new statement, the Australian Competition and Consumer Commission (ACCC) alleged that between January 2018 and August 2021, Airbnb did not clarify that the prices displayed on its website. In the…

US Economy Slowing Due to Persistent Inflation, Supply Woes, OECD Warns

The United States economy is slowing down due to persistent inflation and ongoing supply chain issues, the Organization for Economic Cooperation and Development (OECD) has warned. The OECD has cut its growth forecast for the U.S. economy, blaming high inflation and supply disruptions. The organization says the issues are remaining…

Australia’s Central Bank Shocks with Huge Cash Rate Hike to Tackle Inflation

The Australian central bank, the Reserve Bank of Australia, has hiked the cash rate by a massive 50 basis points, from 0.35 percent to 0.85 percent, to tackle soaring inflation. Governor Philip Lowe warned that “further steps” are yet to come as the country battles higher-than-expected inflation Lowe said the…

Elon Musk Orders Tesla’s WFH Execs Back to Office or ‘Pretend to Work Somewhere Else’

Tech entrepreneur Elon Musk has warned Tesla executives to end their work-from-home lifestyles and return to the office, otherwise they "should pretend to work somewhere else." According to a leaked email, which Musk appeared to confirm in a tweet, the Tesla CEO has taken the work-from-home phenomenon into his crosshairs.…

Biden Confirms US Sending ‘Advanced’ Weapons to Ukraine

Democrat President Joe Biden has confirmed that the United States is providing Ukraine with “more advanced rocket systems and munitions” as Russia’s invasion of the country continues. Biden revealed details of the $40 billion taxpayer-funded aid in a New York Times opinion piece. The president said that America’s goal in…

Firearm and Ammunition Stocks Soaring in Wake of Texas School Shooting

Firearm and ammunition manufacturers are seeing their share values soaring in the wake of the deadly mass shooting at an elementary school in Uvalde, Texas last week. Last Tuesday, 18-year-old Salvador Ramos attacked the Robb Elementary School, killing 19 children and two adults. In the two days following the shooting incident,…

Conservative David vs. the ‘Woke’ Corporate Green Giant

Eight years ago, a holder of a modest amount of Apple stock found himself in the peculiar position of being told publicly by an angered CEO Tim Cook that his money was no good in Cupertino. Justin Danhof, a conservative activist investor, had turned up at the company’s annual shareholder…

US Consumer Sentiment Falls to Near 10-Year Low in May

Consumer sentiment in the United States has fallen to an almost ten-year low in May, new data reveals. The drop was revealed in the final May edition of the University of Michigan’s Sentiment Survey, which was released on May 27. The index fell from 65.2 in April to 59.1 in…

Fed Study Reveals How Long Americans Expect Soaring Inflation to Persist

A New York Fed study has revealed how much longer Americans expect to keep suffering from soaring inflation. The Fed's research paper says U.S. consumers expect no relief from high prices in the near term. Analysts believe that the current bout of booming inflation will keep percolating for the next…

Twitter to Pay $150 Million for Improperly Selling Users’ Private Data

Social media giant Twitter has agreed to pay $150 million after it was caught improperly selling users' private information. The company is accused of selling the data of users to target advertising, without having informed them. The Justice Department and the Federal Trade Commission (FTC) announced the settlement. If approved…