News

As the world grapples with various challenges entering 2025, the United States economy continues to stand out as a bright spot. Powered by strong consumer spending, the nation’s historic recovery from the pandemic downturn has persisted, defying predictions of economic turbulence. Despite elevated interest rates and lingering inflation, the U.S. ec…

The final distribution from the victim compensation fund for Bernie Madoff’s Ponzi scheme began on Monday, marking the end of a 16-year effort to return stolen funds to those affected. The U.S. Department of Justice announced that this last disbursement of over $131 million will be sent to more than 23,000 victims across the globe. Once complete…

US stocks fell on Monday, with the Dow Jones Industrial Average dropping 418 points, or just under 1%, as markets approach the end of a record-setting year. The S&P 500 closed the day down by just over 1%, while the tech-heavy Nasdaq experienced the largest decline, falling 1.19%. Investors sold off shares of major tech companies, including Ama…

An Air Canada Express flight encountered a suspected landing gear issue after arriving at Halifax Stanfield International Airport in Nova Scotia on Saturday night. Fortunately, no injuries were reported. The flight, identified as AC2259, had taken off from St. John’s, Newfoundland, and was operated by PAL Airlines. It carried 73 passengers. Upon…

Panel Fails to Reach Consensus on National Security Concerns A critical government panel, the Committee on Foreign Investment in the United States (CFIUS), was unable to reach a consensus on the national security implications of a proposed $15 billion acquisition deal between Japan's Nippon Steel and U.S. Steel. This leaves the final decision in…

Grounding of Flights Causes Initial Disruptions On Tuesday, American Airlines experienced a nationwide flight grounding due to a technical issue with its flight operating system (FOS), marking a bumpy start to the holiday travel season. The grounding, which lasted for about an hour, was ordered by the Federal Aviation Administration (FAA) after …

The Container Store, a well-known name in home organization, has filed for Chapter 11 bankruptcy, becoming the latest retailer to struggle as customers cut back on discretionary spending. In a statement issued late Sunday, the 46-year-old company revealed that the bankruptcy filing is intended to strengthen its financial position, fuel growth in…

The fate of the proposed acquisition of US Steel by Japan’s Nippon Steel is now in the hands of President Joe Biden. A committee of senior officials from key government agencies, known as the Committee for Foreign Investment in the United States (CFIUS), has been unable to reach a consensus on whether the deal poses a national security risk, accord…

The Starbucks union strike, which began on Friday, has now expanded to nine states, according to the union. On Sunday, workers in Missouri, New Jersey, and New York joined the five-day strike, following locations in Colorado, Ohio, and Pennsylvania, which joined the action on Saturday. Starbucks Workers United, representing over 10,000 workers at m…

Nike's new CEO, Elliott Hill, has announced a fresh strategy to restore the company’s growth after declining revenue and profit were attributed to excessive discounting. On Thursday, Hill outlined his approach, emphasizing a return to full-price sales online and plans to aggressively liquidate old inventory through less profitable channels. Elli…