Finance
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Rite Aid pharmacy chain files for bankruptcy amid falling sales, opioid lawsuits
Employees should be paid without interruption, but the chain said it plans on closing "additional underperforming stores."
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Virginia Congressman Ben Cline says the House is quickly approaching a 'fiscal cliff'
"Unfortunately, the days are growing short, and we have only done half of our appropriations bills," Cline said.
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State financial officers warn SEC against regulating AI use in investing
With AI and similar technologies becoming increasingly popular with investing firms, the SEC has expressed concerns that use of such technologies could present a conflict of interest between the investors and the asset managers.
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JPMorgan Chase reaches $75 million tentative settlement with US Virgin Islands over Jeffrey Epstein
The settlement is expected to go toward lawyer fees and charitable causes in the U.S. territory.
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US debt surpasses $33 trillion as Republicans demand budget cuts
The historic debt is a major topic as Congress discusses the 2024 fiscal year budget, which runs from October 2023 through September 2024.
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Price of Disney shares drop to lowest level in nearly nine years
Critics of the iconic American entertainment company pin Disney’s slide on what they consider its adopting and supporting an ultra-liber, so-called “woke” agenda.
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Christian mission serving Uganda says Bank of America closed its accounts as debanking spreads
Chase, Bank of America and PayPal have all been accused of severing ties with organizations blacklisted by the D.C. power elite. The banking giants say they have reputations to protect and Bank of America told the Christian group that all of its accounts would be closed because its "risk profile no longer aligns with the bank's risk tolerance."
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Christie says he’s willing to change Social Security, Medicare to save them
Former NJ governor proposesb means testing and raising the eligibility age for people under 50.
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Fitch downgrades U.S. credit from AAA to AA+
Treasury Secretary Janet Yellen railed against the decision, calling it "arbitrary and based on outdated data."
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Bidenomics: US credit rating downgraded by Fitch over growing debt, 'deterioration' in governance
Fitch also projected that the U.S. economy will enter a "mild recession."
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Federal Reserve raises interest rates by quarter point to combat inflation
The new target federal funds rate is in the range of 5.25% to 5.5%.
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GOP Rep. Meuser presses SEC over delayed Truth Social merger
"Please know that congressional scrutiny of this matter will continue," he warned.