Illinois’s richest man is reportedly abandoning Chicago; Ken Griffin is moving the headquarters of his Citadel hedge fund to Florida. Why? The White House is canceling $6 billion in student loan debt for borrowers who claim they were defrauded by their college. Tesla factories in Texas and Berlin are losing billions of dollars, according to CEO Elon…
Griffin’s Citadel Leaving Chicago: Report; Biden Admin Cancels $6B in Student Loans | NTD Business
Biden Calls for Gas Tax Holiday; Fed Chair: Higher Rates Could Cause Recession | NTD Business
President Joe Biden is asking Congress to suspend the gas tax for three months, amid soaring energy prices. Officials hope it can help ease pain at the pump. The Federal Reserve chair said we could see a recession if they keep raising rates, yet they are committed to the fight against inflation. Trillions were wiped…
Twitter Board Approves Musk’s Offer; Mark Cuban Could Save Medicare Billions: Study | NTD Business
Billionaire Elon Musk is one step closer to buying Twitter. The company’s board has approved his buyout offer, urging shareholders to do the same. Investor Mark Cuban’s online pharmacy could save Medicare billions of dollars every year, according to Harvard researchers. They say Medicare is paying way too much for prescription drugs. Food giant Kellogg…
Chances of US Recession at 85 Percent: JPMorgan; Biden: Decision on Gas Tax Holiday Soon | NTD Business
Recession fears grow; investment bank JPMorgan says there’s an 85 percent chance of a recession for the U.S. economy. President Joe Biden is considering pausing the federal gas tax to help at the pump, saying he’ll make a decision soon. Germany is going back to coal for power generation. It wants to reduce natural gas…
Environmentalists Sue Biden to Stop Drilling; Monthly Car Payments Hit Record High | NTD Business
Environmental groups sue the Biden administration, after it handed out oil and gas drilling permits. The groups are concerned about how drilling affects the environment. Auto giant Ford sees an increase in late payments for car loans. But it says it’s not worried yet. Why? China’s trade with Russia expected to hit new highs in the coming…
New Report Details People’s Financial Pain; Mortgage Rates See Biggest Weekly Jump Since ’87 | NTD Business
Most Americans are struggling with rising prices, dipping into savings just to cover expenses. A new report details people’s financial pain. U.S. homebuilding plummets in May to its lowest level in over a year. What’s behind the drop? Cosmetics giant Revlon files for bankruptcy, weighed down by heavy debt, supply chain issues, and surging costs. Apple…
Biggest Interest Rate Hike Since 1994; Are Home Prices Coming Down? | NTD Business
The Federal Reserve is delivering the biggest rate hike since 1994. It’s trying to cool down the economy and tame inflation. As interest rates move higher, what does that mean for home prices? Are they coming down? We ask people in the industry what they’re seeing. Caterpillar is ditching Illinois and moving its headquarters to Texas….
Musk’s SpaceX Faces Environment Hurdles; Coinbase Lays Off 1,100 Amid ‘Crypto Winter’ | NTD Business
Elon Musk faces feds. Regulators announce 75 actions his company SpaceX has to take before it can send a rocket to Mars. U.S. crypto exchange platform Coinbase is slaying off nearly one in five workers, warning of a possible crypto winter. Is China’s zero-COVID policy really for the well-being of the people? A new report suggests…
Largest US Pork Processor Leaving Calif.; Bitcoin Falls, Crypto Mkt Value Under $1T | NTD Business
The largest pork processor in the United States is abandoning California. It says it’s not worth doing business there anymore because of taxes and inflation. Luxury home sales see the biggest drop since 2020. Why? And what could it mean for some buyers? McDonald’s restaurants reopen in Russia, under a new name and Russian ownership….
Goya CEO Sees Food Crisis Ahead; Biden Admin to Drop COVID Test for Air Travel | NTD Business
The CEO of Goya Foods sees a food crisis coming this year. He believes Americans are gonna have trouble feeding themselves. How about making some extra cash on the side? Whether it’s a couple hundred dollars or a couple of thousand, Uncle Sam is going to want a piece of that with this new tax…
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