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WeWork, the office-sharing company once valued at $47B, files for bankruptcy protection
On September 25, 2020, WeWork, a real estate company known for office-sharing services, filed for Chapter 11 bankruptcy in the United States. The New York-based company had been valued at nearly $47 billion during its most recent funding...
Credit card balances spiked in the third quarter to a record $1.08 trillion. Here’s how we got here.
• In April, the start of a widespread recession caused by the pandemic, consumer confidence plummeted due to rising unemployment and concerns about the future. • As the pandemic continued to affect the economy, the Fed took drastic...
United Airlines tweaks frequent flyer program to reward credit card spending
United Airlines recently announced a new program to its frequent flyer rewards program that gives perks to customers who use its co-branded credit cards to make purchases. Under the program, customers will earn up to 3 miles per...
IRS announces new income tax brackets for 2024
The Internal Revenue Service (IRS) has not yet announced the new income tax brackets for 2024. The IRS generally releases new tax brackets for upcoming years in late October or early November of the year before. For example,...
Hiring is slowing — slowly. It might be just what the economy needs.
The slowing of hiring is actually a positive sign for the economy. It means that employers are being more cautious and taking their time to find the right people for the right jobs. This shows they are thinking...
Starbucks unveils plan to add 17,000 locations by 2030
Starbucks announced an aggressive plan that will add 17,000 new coffee shops by 2030. This is a big expansion for the company, more than double the size of the company than what it currently has. The move is...
Homebuyers and sellers face an uncertain wait for billion-dollar verdict to hit their wallets
The recent billion-dollar verdict in the case between real estate company Zillow and one of its competitors could have far-reaching implications for both buyers and sellers of real estate. The case centered on a claim bySeattle-based Zillow that...
Sam Bankman-Fried admits FTX ‘sure should have’ done more to protect customers’ money
FTX CEO Sam Bankman-Fried recently admitted that the company should have done more to protect customers’ money in volatile markets last month. He said the company failed to hedge against extreme price swings and suffered significant losses as...
Live Nation spars with senator over its vow to ditch hidden ticket fees
Live Nation has responded to Senator Richard Blumenthal's call to end hidden ticket fees, insisting that it has made significant progress in creating a "a consumer-friendly ticket purchasing experience" and that it has no plans to stop adding...
Sam Bankman-Fried to testify in federal fraud trial, attorney says
Sam Bankman-Fried, the CEO of FTX cryptocurrency trading platform and the founder of Alameda Research, is slated to testify in federal trial in New York later this month, according to an attorney involved in the case. Bankman-Fried is...
