Tetra Images/Getty Images (WASHINGTON) — The prices Americans pay for a basket of goods and services continued to climb rapidly last month, according to new government data. The consumer price index — a key measure of inflation — surged 7.5% over the last 12 months, the Labor Department said Thursday. This marks the largest 12-month […]

Ezra Shaw/Getty Images (NEW YORK) — Peloton announced Tuesday a major leadership shakeup and a plan to cut costs that includes laying off some 2,800 employees. The announcement comes as the pandemic wanes in the U.S. and gyms are reopening, lessening demand for the company’s at-home workout equipment and famous stationary bike. The New York-based […]

Getty Images/Carmen Mandato (NEW YORK) — Even in the face of mounting backlash, streaming giant Spotify is standing by embattled podcast host Joe Rogan. While the controversy initially centered around the spread of COVID-19 misinformation emanating from Rogan’s namesake podcast, “The Joe Rogan Experience,” a viral video of the host using a racial slur dozens […]

PATRICK T. FALLON/AFP via Getty Images (NEW YORK) — It was dubbed a watershed moment for the withering organized labor movement when the first-ever union election at an Amazon warehouse took place last spring in Alabama. Workers seeking collective bargaining rights at a fulfillment outpost of the e-commerce giant in Bessemer — a rural, predominantly […]

iStock/koto_feja (NEW YORK) — After managing to avoid the same level of scrutiny as fellow tech giants such as Twitter and Facebook for years, streaming service Spotify has now found itself at the center of a scandal involving the platform it gives to those disseminating misinformation about COVID-19. The saga stems from episodes of “The […]

Anna Moneymaker/Getty Images (WASHINGTON) — Officials at the Federal Reserve on Wednesday signaled that they could “soon” raise interest rates for the first time in three years, as inflation concerns cast a shadow over the pandemic-battered economy. The central bankers said in a statement Wednesday that they were leaving rates unchanged for now, at near-zero […]

Krisztian Bocsi/Bloomberg via Getty Images (NEW YORK) — In an increasingly digitized world, almost no industry has been left unscathed by the global shortage of electronic chips. Demand for these dime-sized building blocks needed to make cars, computers, smartphones and much more was growing even before reaching a fever pitch as the COVID-19 pandemic forced […]

Hesther Ng/SOPA Images/LightRocket via Getty Images (MELBOURNE, Australia) — After immense international backlash, Tennis Australia has reversed course on its ban of spectators donning T-shirts in support of Chinese tennis star Peng Shuai at the Australian Open. Peng, who was formerly ranked No. 1 globally in women’s doubles, has retreated from the public eye and […]

iStock (NEW YORK) — Amid a global chip shortage that has been exacerbated by the COVID-19 pandemic, Intel announced Friday that it will invest more than $20 billion in two new chip factories in Ohio. The new investment will significantly expand U.S. manufacturing capabilities for semiconductors, a vital building block needed for computers, smartphones, autos, […]

Rafael Henrique/SOPA Images/LightRocket via Getty Images (NEW YORK) — A small handful of Instagram content creators can now directly charge followers a monthly subscription fee for exclusive content and benefits in the latest shakeup to impact the ever-evolving digital creator economy. Instagram’s parent company Meta announced the news in a company blog post, saying it […]

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