pentagon

Pentagon can't account for millions of dollars worth of F-35 parts

Per Bloomberg Recently, the Pentagon could not account for millions of dollars worth of spare parts. Per congressional auditors, these involved hundreds of thousands of spare parts for the F-35 jets. These spare parts were reportedly stored around the world and were reserved for US and allies using the F-35

silicon valley bank

Silicon Valley Bank CEO Greg Becker doesn't want to give up any of the $10 million annual pay he made before the bank collapsed

Per NYT While Silicon Valley Bank collapsed, its CEO Greg Becker could still make $10 million in annual pay before that happened. This came as he was able to cash out millions in stock options just weeks before the collapse of the lender. Recently, Becker had to appear before the

Chinese

Chinese citizens working and living in Florida sued the state for a law that would ban them from being able to buy property within the state

Per BBC Florida will impose a law on July 1 that would ban Chinese citizens from purchasing property within the state. Chinese citizens working and living in the state are now filing a lawsuit, arguing that the law wasn't constitutional. Aside from being unconstitutional, the group of Chinese

The average 30 year fixed mortgage rate in the US is now 7.01%.

Here are the current annual percentage rates (APR) for refinancing mortgages with different terms: The average APR for refinancing a 30-year fixed-rate mortgage has risen to 7.27% from yesterday's 7.25%. In comparison, the APR for a 30-year fixed-rate mortgage was 7.21% at this time last

The Treasury Department has asked federal agencies whether they can make upcoming payments at a later date

The Treasury Department has asked federal agencies whether they can make upcoming payments at a later date. "To produce an accurate forecast around the debt limit, it’s critical that Treasury have updated information on the magnitude and timing of agency payments," the spokesperson said in an emailed

Some startups are selling at 80% discounts due to the collapse in valuations across the tech industry

Some startups are selling at 80% discounts due to the collapse in valuations across the tech industry, per BI. As of the end of 2022, limited partners or LPs in VC funds were on average selling their stakes on the secondary market 32% below net asset value, according to data

META

Meta bought Giphy for $315 million in 2020 but is now selling it to Shutterstock for $53 million

Per CNBC Shutterstock is now buying Giphy from Meta at a massive discount. Facebook's parent company purchased Giphy for $315 million in 2020 but was now selling it for a cash deal worth $53 million. In 2020, when the company bought Giphy for $315 million, UK's

Apple

Apple reached a deal with Broadcom worth multi-billions for US-built chips

Per CNBC Apple has recently been trying to reduce its reliance on China for chips, and aside from investments in other countries like India, it has also allocated a significant budget to source chips from the US. This leads the company to reach a multibillion deal with Broadcom to develop

tiktok

Oracle will 'soon' gain access to TikTok's source code, algorithm, and content-moderation material

Per Bloomberg As TikTok is trying to devise ways to alleviate concerns, specifically regarding national security, it was reported that the platform would 'soon' give access to critical parts of the app to Oracle. These include access to TikTok's source code, algorithm, and content-moderation material. TikTok

tiktok

TikTok sues Montana due to alleged First Amendment violation opposing new state law that would ban the platform

Per CNBC Montana has recently passed a state law that would ban the use of TikTok within the state. Now, the platform has decided to counter by filing a lawsuit against the state, citing alleged violations of the First Amendment. TikTok filed the lawsuit in the United States District Court

mccarthy

McCarthy says no agreement yet but felt that the 'discussion was productive'

Per CNN House Speaker Kevin McCarthy has provided an update regarding the debt limit issue. McCarthy clarified that although an agreement hasn't been met, he felt that the "discussion was productive." This update comes as the US is closing in on March 1, the potential default

A default could lead to an economic downturn as bad as the Great Recession, with 8 million Americans losing their jobs and the stock market’s value falling by about 45%

New analyses by both the Congressional Budget Office and the U.S. Department of the Treasury suggest the United States is rapidly approaching the date at which the government can no longer pay its bills, also known as the “X-date.” History is clear that even getting close to a breach

microsoft

Microsoft employees will not receive pay raises this year

Per USA Today Microsoft is implementing a new cost-cutting method where they've decided not to give their employees any pay raise this year. This came as the company cited "economic conditions" as reason why they aren't giving raises. The company shares how as revenue

bt group

BT Group plans to let go of up to over 50k workers by 2030, with at least 10k jobs replaced by some form of AI

Per CNN The BT Group, a British telecommunications giant, has recently revealed its plans to let go of a massive chunk of its company slowly. The company said it wants to let go of over 50,000 workers by 2030. To be specific, BT Group wants to bring its employee

goldman sachs

Goldman Sachs: US could default on its debt on June 8 or 9

Per Business Insider Goldman Sachs recently said that they think the US could ultimately default on its debt on June 8 or 9. This came from a statement coming from the firm's chief political economist. Alec Phillips, the chief political economist of Goldman Sachs, recently went on Bloomberg

home prices

US home sales are down despite the steepest price drop in 11 years

Per CNN Usually, when home prices are down, home sales go up. However, this wasn't the case in April as US home sales fell by their steepest annual rate in 11 years, but sales remained low. The National Association of Realtors reported that home prices saw the biggest

bank of ameica

Bank of America says AI is in a 'baby bubble' like the dot-com era

Per Bloomberg Strategist Michael Hartnett of Bank of America has given his statements regarding AI. He recently likened it to that of the dot-com bubble, saying that it was in a "baby bubble." With all the hype around AI, especially ChatGPT, other companies are trying to get into

Jeffrey Epstein threatened to expose an affair Bill Gates of $MSFT allegedly had with a Russian bridge player in 2010 when the Microsoft co-founder declined to join his philanthropic venture

Per excellent reporting by WSJ According to individuals with knowledge of the situation, Jeffrey Epstein uncovered an affair between Bill Gates and a Russian bridge player, subsequently using this information as a means to intimidate one of the wealthiest individuals globally. During approximately 2010, the co-founder of Microsoft encountered the

Bernie Sanders doubled his income last year by writing a best-selling book that condemns capitalism

According to the latest annual financial disclosures of Senator Bernie Sanders, the Vermont Independent earned $170,000 in book royalties in 2022 from his recently-published best-selling book, titled "It's OK to Be Angry About Capitalism." This amount is nearly equivalent to the annual salary of $174,

ray dalio

Ray Dalio fears increasing the debt limit would 'eventually lead to a disastrous financial collapse'

Per BI American Investor Ray Dalio has recently shared his thoughts regarding the debt ceiling. He shared his belief that should the debt limit increase, the result could eventually become a "financial collapse." Dalio: "Increasing the debt limit the way Congress and presidents have repeatedly done, and

canada

Canada's mortgage payments could spike up to 40%

Per Bank of Canada Recently, the Bank of Canada shared its findings regarding the financial situation of the country in its Financial System Review - 2023 report. The bank detailed what fixed-rate and variable-rate mortgages were experiencing. It was reported that for variable payments, these buyers already experienced close to

Apple

Apple market cap surpassed the Russell 2000 for two weeks

Per MW For the first time ever, Apple's market capitalization spent two weeks being larger compared to the entire Russell 2000. The last time that Apple was able to surpass the market cap of Russell 2000 was on September 1, 2020. Although Apple was able to surpass the

salary

Bureau of Labor Statistics says you need to earn about $129,000 today to have the same purchasing power as $100,000 a decade ago

Per CNBC The Bureau of Labor Statistics revealed that those that wanted to experience the same purchasing power as someone a decade ago would if they were making $100,000 annually would need to earn more today. The data showed that to achieve the same purchasing power, people today would

retailers

Retailers say they lost $100 billion in theft

Per MW Retailers have started to voice their concerns even more regarding theft, saying they lost $100 billion in 2022. These include organized retail theft as well as the usual smash-and-grab robberies. Examples of retailers struggling to deal with theft can be seen as REI, one of the known retailers,

The IRS has said that Black taxpayers are significantly more likely to face an IRS audit, per CNBC.

The IRS has said that Black taxpayers are significantly more likely to face an IRS audit, per CNBC. A study released in January by economists at Stanford University, the University of Michigan, the U.S. Department of the Treasury and the University of Chicago found the IRS audits Black taxpayers