With inflation still high, though cooling, the Federal Reserve is again turning to its most effective weapon in its battle against soaring prices: Another rate hike. The central bank on Wednesday boosted its benchmark interest rate by 0.5 percentage point, marking its seventh consecutive hike this year. There are some …
Read More »Amazon accused of stealing tips from delivery drivers
It’s been more than a year since federal regulators ordered Amazon to pay back nearly $62 million in drivers’ tips it allegedly skimmed over the years. Now, a government prosecutor wants the e-commerce giant to compensate customers he says were also misled in the process. Washington, D.C., Attorney General Karl …
Read More »Amazon CEO says retailer will continue to sell antisemitic film
Amazon CEO Andy Jassy said Wednesday the company does not have plans to stop selling an antisemitic film that gained notoriety recently after Brooklyn Nets guard Kyrie Irving tweeted out an Amazon link to it. Pressure has been mounting on Amazon to discontinue sale of the film, called “Hebrews to …
Read More »“Zombie Debt”: Homeowners face foreclosure on old mortgages
Rose Prophete thought the second mortgage loan on her Brooklyn home was resolved about a decade ago — until she received paperwork claiming she owed more than $130,000. “I was shocked,” said Prophete, who refinanced her two-family home in 2006, six years after arriving from Haiti. “I don’t even know …
Read More »6 airlines must pay $600 million in refunds over pandemic delays
Frontier Airlines and five foreign carriers have agreed to refund more than $600 million combined to travelers whose trips were canceled or significantly delayed since the start of the pandemic, federal officials said Monday. The U.S. Department of Transportation said it also fined the same airlines more than $7 million …
Read More »Job openings jump to 10.7 million despite Fed attempts to cool economy
U.S. job openings rose unexpectedly in September, suggesting that the American labor market is not cooling as fast as the inflation fighters at the Federal Reserve hoped. Employers posted 10.7 million job vacancies in September, up from 10.3 million in August, the Labor Department said Tuesday. Economists had expected the …
Read More »Arizona woman sues city after arrest for feeding homeless: “Criminalized kindness”
Norma Thornton spent almost 20 years running a restaurant in Alaska before retiring to Arizona with her husband in 2017. With more time on her hands, she started cooking hot meals and giving them to the homeless population around Bullhead City. In time, her charitable activities attracted attention from other …
Read More »American Airlines says au revoir to first
American Airlines is eliminating first-class tickets on international flights, saying the carrier isn’t selling enough of the pricey seats. “First class will not exist on the 777, or for that matter at American Airlines, for the simple reason that our customers aren’t buying it,” Vasu Raja, chief commercial officer, said …
Read More »Student loan forgiveness application is now open: How to apply
The U.S. government opened a website to allow Americans with federal student loans to apply for up to $20,000 in debt forgiveness. The site comes after the Biden administration said its goal was to create an application that would be “short and simple.” The application requires just a few minutes to …
Read More »Beyond Meat executive accused of biting man’s nose is leaving company
Beyond Meat said Chief Operating Officer Doug Ramsey is leaving the company, a departure that comes after the executive allegedly bit another man’s nose outside a football game. In a regulatory filing, Beyond Meat said Ramsey’s last day of employment is October 14. The company also said it is cutting …
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