News

(Source - Forbes) Sec gives bitcoin ETFs approval, After a temporary setback on Tuesday, the Securities and Exchange Commission (SEC) granted approval on Wednesday for several investment firms to offer "spot bitcoin" exchange-traded funds (ETFs). This widely anticipated move is poised to democratize bitcoin investing, making it more accessible t…

On Thursday at 8:30 a.m. ET, the latest inflation figures are poised for release, becoming a pivotal factor for investors seeking insights into the Federal Reserve's potential interest rate adjustments. Forecasts for the December Consumer Price Index (CPI) suggest a marginal uptick in annual headline inflation to 3.2%, compared to the previous mont…

Amazon is cutting jobs at its Prime Video and MGM Studios divisions, according to a memo sent by Mike Hopkins, the head of these units. The memo, viewed by CNBC, revealed that the company is eliminating several hundred roles to prioritize long-term business success. Hopkins stated that the decision comes after a thorough review of the business to e…

(Source-CNBC) In the ongoing battle for public opinion on the economic front, the Biden campaign has launched a scathing critique of former President Donald Trump's recent prediction of an impending economic crash. Trump's assertion that he hopes for an economic downturn before potentially assuming office for a second term has provided the Biden…

In a concerning financial trend, the total credit card balances in the United States have surged to a record-breaking $1.08 trillion, as reported by the latest quarterly update from the Federal Reserve Bank of New York. Over the past two years, Americans' credit card balances have witnessed an alarming 40% increase, according to insights provide…

(Source-PhillyVoice) Philadelphia-based radio giant Audacy has initiated bankruptcy proceedings, citing a significant downturn in advertising revenue. The company, known for its extensive podcast and radio operations and having acquired CBS Radio, filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. This m…

Source-Business-Standard) As the year came to a close, the national debt in the United States reached a new record high, standing at a staggering $33.9 trillion. This figure comprises $26.9 trillion in debt held by the public and an additional $7 trillion accounting for intragovernmental holdings – essentially, debt that the Treasury owes to oth…

(Source-The-Economic-Times) Federal labor authorities accused SpaceX on Wednesday of unlawfully terminating eight employees who circulated a critical letter about the company's founder and CEO, Elon Musk. The National Labor Relations Board (NLRB) filed a complaint, stating that SpaceX fired the employees in 2022 for calling on the company to dis…

(Source-Bankrate) Federal Reserve officials, as per December meeting minutes released on Wednesday, anticipate interest rate cuts in 2024. The Federal Open Market Committee agreed to maintain the benchmark rate in the 5.25%-5.5% range, foreseeing three quarter-point cuts by the end of 2024. However, uncertainty looms over the timing and executio…

(Source-The-Economic-Times-IndiaTimes) After a record-breaking surge, America's labor market has shifted to a more typical pattern, with steady job postings at 8.8 million in November, signaling a cooldown. Hiring dipped to 5.5 million, 363,000 fewer than October, while quits dropped to 3.5 million. Many indicators have returned to pre-pandemic …