Biden administration will leave it to Trump to implement TikTok ban

TikTok may go offline for U.S. users on Sunday, according to an administration official speaking to ABC News. However, the Biden administration has indicated it will not enforce the law mandating the shutdown, which is set to take effect one day before the presidential inauguration. TikTok itself could voluntarily

Tim Cook’s compensation at Apple, $AAPL, grew to $74.6 million in 2024, compared with $63.2 million the prior year

Apple Inc. announced an 18% pay increase for CEO Tim Cook ahead of its upcoming annual meeting, while opposing a shareholder proposal aimed at ending the company’s diversity program. Cook’s total compensation for 2024 rose to $74.6 million, up from $63.2 million the previous year, according

90-hour-a-week Wall Street bankers snorting lines of Adderall at their desks

Wall Street's relentless office culture is driving young bankers to snort crushed Adderall pills at their desks to endure grueling workdays lasting up to 22 hours, according to a report. Bankers in their 20s and 30s aiming to climb the financial ladder told The Wall Street Journal that

inancial advisors remain reluctant to recommend crypto investments, even as prices increase," per CNBC

Digital assets have surged since the U.S. presidential election in November, with Bitcoin hitting a record high above $107,000 on Monday, bolstered by President-elect Donald Trump's pro-cryptocurrency policy announcements. Despite the rally, many financial advisors remain cautious. “As traditional long-term planners, we currently do not incorporate

Bank of America, BAC, bond losses could top $100 billion

The sharp increase in interest rates since the end of the third quarter has expanded losses on bank securities portfolios, a trend that could draw investor scrutiny as banks begin reporting fourth-quarter results next week. Bank of America, which holds the largest unrealized losses in the banking industry, may attract

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers

Global banks are poised to cut up to 200,000 jobs over the next three to five years as artificial intelligence (AI) increasingly takes over tasks currently performed by humans, according to Bloomberg Intelligence (BI). Chief information and technology officers surveyed by BI expect, on average, a net workforce reduction

The US has more fancy apartments than it is able to fill

America faces a significant housing shortage—but not for the type of apartments real-estate investors have been building at record rates. The national vacancy rate for multifamily apartments reached 8% in the last quarter of 2024, higher than pre-pandemic levels. This increase in empty units is surprising, given estimates that

Many millennials and Gen Xers are facing a stark reality: their parents and grandparents don't have the means to pay for long-term care

"Many millennials and Gen Xers are facing a stark reality: their parents and grandparents don't have the means to pay for long-term care — and they'll need to help foot the bill, especially since government aid often doesn't cover large parts of this care,

The ‘vibecession’ is over as optimism gains steam after Trump election, per CNBC

As the Federal Reserve prepares to lower interest rates at the conclusion of its two-day meeting this week, Americans are feeling increasingly optimistic about the future. Despite the strain of prolonged high inflation on household budgets, consumer sentiment about personal finances has improved, according to a new report from the

Google, GOOGL, has told the EU it will not add fact checks to search results and YouTube videos or use them in ranking or removing content, despite the requirements of a new EU law

Google has informed the EU that it will not integrate fact-checking into search results or YouTube videos, nor use fact checks in ranking or content removal decisions, despite requirements under a new EU law. This decision, detailed in a letter obtained by Axios, reiterates Google's longstanding stance against

TikTok CEO Shou Chew is planning to attend Donald Trump's inauguration

Topline TikTok CEO Shou Zi Chew plans to attend President-elect Donald Trump’s inauguration next week, according to a report by the New York Times on Wednesday. This comes as the Supreme Court signals it may uphold a bipartisan law—opposed by Trump—that would require TikTok to be sold

The average price of a dozen eggs in the US has moved from $2.51 up to $4.15 over the last year, a 65% increase

Egg prices have surged dramatically in recent months, leaving shoppers shocked as a dozen eggs now costs more than $9 at some stores. In December 2024, the U.S. Department of Agriculture reported wholesale egg prices averaging $4.62 per dozen. However, regional differences lead to significant price variation, influenced

30-year mortgage rates in the US hit 7.11%

Mortgage rates surpassed 7% this week, a critical psychological barrier, underscoring the persistent affordability challenges in the U.S. housing market. The average rate for a 30-year fixed mortgage reached 7.04% in the week ending January 16, according to Freddie Mac's Thursday report. This marks the fifth

Los Angeles landlords increase rent by as much as 124% after the wildfires

Landlords in wildfire-stricken Los Angeles are dramatically raising rents—some by more than double—in violation of California’s anti-price-gouging laws, as thousands of residents scramble for housing after losing their homes. California law prohibits landlords from increasing rents by more than 10% during a state of emergency. Despite this,

Sam Altman, Mark Zuckerberg and biz leaders choose Trump inauguration over World Economic Forum in Davos, Switzerland

Billionaire business leaders seeking influence and recognition often gravitate toward the World Economic Forum in Davos, Switzerland, but this year, Donald Trump’s inauguration is taking center stage. The Davos forum, which starts on January 20—the same day Trump will be sworn in as the 47th president—is losing

An investor who spent $27 million on a mansion that burned down on ‘Billionaire’s Beach’ only expects $3 million from insurance

Real estate investor Robert Rivani spent $27 million purchasing and renovating a luxury beachfront property on Malibu's renowned "Billionaire's Beach." However, after the mansion was destroyed by fire, he expects only a fraction of that amount from an insurance payout. According to The Wall

Trump considers an executive order to stop TikTok ban

President-elect Donald Trump opposes the TikTok ban set to take effect, his lawyers stated in a recent court filing. Trump himself questioned the necessity of the ban on Truth Social, posting, “Why would I want to get rid of TikTok?” alongside a graphic highlighting his popularity on the platform, including

Walgreens, WBA, CEO has said anti-shoplifting strategy backfired: ‘When you lock things up…you don’t sell as many of them’

Amid a challenging retail environment, Walgreens Boots Alliance outlined its strategic pivot during its Q1 2025 earnings call. Despite a 23% year-over-year drop in adjusted earnings per share (EPS) to $0.51, the company surpassed expectations, driven by strong cost management and solid performance in U.S. pharmacy services. CEO

Short Seller Hindenburg Research has said it will be shutting down

Last year, the company was behind a stock sell-off in Indian conglomerate Adani Group which it had accused of improperly using tax havens, accusations the group had denied. Carvana Co. has come under scrutiny from short-seller Hindenburg Research, which accused the auto retailer of engaging in questionable practices and claimed

US core CPI YoY actual 3.2% (forecast 3.3%, previous 3.3%)

Consumer prices rose in December, but 2024 ended with some modestly encouraging news on inflation, particularly in the housing sector. The Consumer Price Index (CPI) increased by 0.4% for the month, seasonally adjusted, bringing the annual inflation rate to 2.9%, according to the Bureau of Labor Statistics (BLS)

November's hiring rate of 3.3% is the lowest since the early 2010s when the US was struggling after the Great Recession

The U.S. labor market showed strength in December, with nonfarm payrolls rising by 256,000, the highest monthly increase since March, according to the Bureau of Labor Statistics. The unemployment rate unexpectedly dropped to 4.1%, while average hourly earnings grew by 0.3% compared to November. These figures

Trump's import tariffs could raise the cost of a laptop for Americans by 68%

The Consumer Technology Association (CTA) has released new projections on how much more Americans may pay for tech products if President-elect Donald Trump implements proposed import tariffs. The study examines two potential scenarios: one where a global 10% import tariff is imposed alongside an additional 60% tariff on imports from

TikTok plans to shut its app for U.S. users from Sunday

TikTok plans to disable its app for U.S. users starting Sunday, aligning with a potential federal ban on the platform unless the Supreme Court intervenes to block the law, sources familiar with the situation revealed. Unlike the legislation, which would prohibit new TikTok downloads from Apple and Google app

Elon Musk says AI has already gobbled up all human-produced data to train itself and now relies on hallucination-prone synthetic data

AI requires massive resources—spanning water, energy, and an estimated $1 trillion in investments—but Elon Musk has highlighted another crucial bottleneck: the depletion of human-generated data needed for training. Speaking with Stagwell CEO Mark Penn in an interview streamed on X, Musk explained that AI systems learn by consuming

Donald Trump's nominee to head the U.S. Transportation Department said that electric vehicles should pay to use roads

Sean Duffy, President-elect Donald Trump’s nominee to lead the U.S. Department of Transportation, expressed support for electric vehicle (EV) owners contributing financially to road maintenance during his Senate Commerce Committee confirmation hearing on Wednesday. “How to do that, I think, is a little more challenging,” Duffy admitted, acknowledging