An analysis of primetime ratings shows that Fox News has seen an approximate decline of 1 million total viewers on average for its primetime lineup after the departure of Tucker Carlson in late April. In the four weeks before Carlson left the network, Fox News’ primetime hours averaged some 2.6 million total viewers. But in…
About 1 Million Viewers Stopped Watching Fox News After Tucker Carlson’s Exit: Report
State Farm Halts Issuing New Home Insurance Policies in California
May 28, 2023
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Business & MarketsCaliforniaCalifornia wildfiresCompanieshome insuranceRegional & State NewsState NewsUS
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Insurance company State Farm is halting new property insurance policies in the state of California as the firm battles inflationary pressures and increasing exposure to wildfire risks. In California, State Farm will “cease accepting new applications including all business and personal lines property and casualty insurance, effective May 27, 2023,” the firm said in a…
Lloyd’s Becomes Latest Firm to Exit UN’s Net-Zero Alliance
May 27, 2023
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Business & MarketsCompanieseconomic policiesenvironmental social and governance (ESG) policiesEuropenet zero insurance allianceUKWorld
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Insurance company Lloyd’s of London has announced its exit from a net-zero alliance for insurers—the sixth such organization to have pulled out from the initiative within a week. The Net-Zero Insurance Alliance (NZIA), convened by the United Nations, seeks to commit group members, composed of the world’s leading insurers and reinsurers, to fighting climate change….
Chip Giant Nvidia Nears Trillion-Dollar Status
Nvidia’s stock surged 24 percent on Thursday after the chipmaker forecast a huge jump in revenue, boosting its market value close to $1 trillion. Nvidia CEO Jensen Huang said the company was seeing “surging demand” for its data center products amid the rise of accelerated computing and generative AI, according to its May 24 press…
Soaring Airline Customer Complaints Push Global Legislators to Act
LONDON/MONTREAL—Nikoleta Dodova is among a growing number of dissatisfied airline customers. Having bought her mother and niece airline tickets from Sweden to Macedonia last year, their flight was cancelled and they ended up at an airport over two hours away. She is still waiting for compensation. Official data from regulatory agencies shows complaints against airlines…
First Republic Hit With 1,000 Job Cuts After California Bank Was Seized and Sold to JPMorgan
NEW YORK—About 1,000 employees of First Republic Bank are being let go about a month after it was seized by regulators and acquired by JP Morgan Chase. The vast majority of First Republic employees, roughly 7,200 before it ran into trouble, were offered jobs by JPMorgan, meaning that about 15 percent of the bank’s employees…
ANALYSIS: Politics, Finance Merge as Banks Become Fewer in Number, More Aligned With Government
May 26, 2023
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Bank of AmericaBusiness & MarketsCompaniesDodd-Frank Acteconomic policiesFirst Republic BankJPMorgan Chasepersonal financePoliticsSVB CollapseUS
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The absorption of First Republic Bank by JPMorgan Chase on May 1 was just the latest step in a relentless march of consolidation among U.S. banks, as America’s banking industry becomes both more concentrated and more closely entwined with the federal government. Since the “Great Financial Crisis” of 2008, federal regulators have become comfortable with…
Dollar Tree Faces Profit Decline as Theft Surges, Considers Defensive Measures
Dollar Tree is taking losses in some areas due to a spike in theft and a decline in profits. Like many retailers, the discount store chain is considering “defensive merchandising” or restricting access to certain products. Many major store chains have blamed a massive surge in theft as a growing challenge, as left-wing prosecutors restrict…
China’s Pay Back to the US With Micron Ban Could Signal Decoupling From Both Sides: Expert
May 26, 2023
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Asia & PacificBusiness & MarketsChina Business & EconomyChina NewsCompaniesmicronSamsungSpecial TopicsTechTech CompetitionTech NewsUSUS NewsUS-China relationsWorld
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China recently banned Micron chip sales to critical information infrastructure operators over cybersecurity issues. It came after the world economic power players showed their support for alternative and secure supply chains, and Micron announced its investment in Japan. China’s ban will only enhance the risk of foreign investors in China, and possibly force economic decoupling…
Bipartisan Senators Seek Pentagon Investigation Into Arms Makers Over Price Gouging Claims
May 26, 2023
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BoeingBusiness & MarketsCompaniescongressdefense contractorsDepartment of DefenseLockheed MartinPoliticsprice-gougingraytheonUSUS News
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Five U.S. senators, including two Democrats, two Republicans, and independent Sen. Bernie Sanders, are seeking a Department of Defense (DoD) investigation into allegations of price gouging by U.S. arms manufacturers. A CBS News “60 Minutes” report this week claimed systemic price gouging practices were used by major arms manufacturers such as Lockheed Martin, Boeing, and…
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