Recent reports from the Federal Reserve Bank of New York and TransUnion have shed light on the concerning trend of increasing credit card debt in the United States. According to these findings, Americans collectively owe a staggering $1.14 trillion on their credit cards, with the average balance per consumer reaching $6,329. This represents a significant
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Maryland’s Democratic Gov. Wes Moore believes that Vice President Kamala Harris would prioritize small business growth and large industry competition if she wins the presidency. Moore highlighted the importance of supporting small businesses and making it easier for them to grow, as well as facilitating the ability for large industries to compete within the country.
John Schulman, one of the co-founders of OpenAI, recently announced his departure from the company to join Anthropic, an artificial intelligence startup funded by Amazon. Schulman stated that his decision to leave OpenAI was driven by his desire to deepen his focus on AI alignment and to return to hands-on technical work. Despite emphasizing that
Delta Air Lines recently faced a massive outage that led to thousands of flight cancellations, costing the company approximately $500 million in losses. In response to the outage, Delta CEO Ed Bastian announced that the airline had no choice but to seek damages to recover its losses. The company informed CrowdStrike and Microsoft that they
In a recent announcement, Walgreens revealed plans to shut a substantial number of its 8,600 U.S. stores due to financial struggles. This decision comes on the heels of CVS closures and Rite Aid’s bankruptcy filing, indicating a widespread issue within the retail pharmacy industry. Neil Saunders, GlobalData retail managing director, noted that pharmacy chains were
Defense Secretary Lloyd Austin made a significant decision by withdrawing the controversial plea deal for the three men accused of planning the 9/11 attacks. He signed a memo reserving for himself the specific authority to enter into pre-trial agreements with the accused in the 9/11 military commission cases. Additionally, as the superior convening authority, Austin
The 2024 Paris Olympics have brought intense heat waves and extreme temperatures, leaving athletes struggling to cope with the challenging weather conditions. From U.S. gymnast Simone Biles to British tennis player Jack Draper, many Olympians have voiced their concerns about the scorching heat affecting their performance at the games. Simone Biles took to Instagram to
There is a growing impatience in some parts of the market as the Federal Reserve hints at the possibility of reducing interest rates. Chief economist Claudia Sahm has been vocal about the need for the central bank to gradually decrease rates in order to avoid dragging the economy into a recession. However, she notes that
Donald Trump’s decision to participate in a Q&A session at the National Association of Black Journalists Annual Convention has sparked controversy both inside and outside the group. The decision to host Trump quickly spurred a backlash, with Karen Attiah resigning her position as co-chair of the convention in protest. This move highlights the divided opinions
As Microsoft gears up to announce its fiscal fourth-quarter earnings, analysts are predicting earnings per share of $2.93 and revenue of $64.39 billion. This represents a sizable increase in revenue growth of approximately 15% compared to the previous year’s figures, following a 17% expansion in the prior quarter. However, it’s worth noting that Google parent