Citigroup plans to announce major lay-offs Monday. Citigroup is set to initiate layoffs as part of CEO Jane Fraser's corporate restructuring efforts, according to sources familiar with the matter. Employees affected by the layoffs will be notified starting Wednesday, with further announcements expected daily through early next week.

Sam Altman to leave OpenAI, with Chief technology officer Mira Murati appointed interim CEO.. "Mr. Altman's departure follows a thorough review process by the board, which determined that he did not consistently provide transparent communication, impeding the board's ability to fulfill its responsibilities. The board

Xi Jinping needs US capital because of mistakes at home that have hurt China’s economic growth, per Japan's US ambassador, per Bloomberg. "President Xi is desperate for American investment because he has made a series of economic decisions and political decisions — arresting people — where capital is

Warren Buffett privately traded in stocks that Berkshire Hathaway was buying and selling, per ProPublica. Warren Buffett is alleged to have engaged in stock trading within his personal account that mirrored the transactions conducted by his conglomerate, Berkshire Hathaway, as reported by ProPublica on Thursday. The nonprofit news outlet, drawing

Delinquent commercial real estate loans at US banks have hit their highest level in a decade, per FT. In October, MarketWatch said: Banks are bracing for a recession. "There is currently no obstacle preventing higher Treasury yields," states Kathy Jones, Chief Fixed-Income Strategist at Schwab Center for Financial

40% of under 30s received family money for down payment, per Redfin. A striking 38% of recent homebuyers under the age of 30 utilized either a cash gift from a family member or an inheritance to secure the funds for their down payment, as revealed by a Spring 2023 survey

Employers have seen an uptick in older people applying for entry-level positions, per FP. Employers are observing a rise in the number of seniors applying for entry-level positions. According to a report from Express Employment Professionals on September 27, about 79% of respondents in a recent survey noted an increase

Over 1 in 4 Americans will be Latino by 2060, per the Census. The Hispanic population currently constitutes 19.1% of the total U.S. population, and it is anticipated to rise to 26.9% within the next four decades. In contrast, the non-Hispanic white population is predicted to decrease

Snoop Dogg has said he is giving up smoking. The renowned hip-hop artist, Calvin Broadus, widely known as Snoop Dogg, has recently made an announcement about giving up smoking, although the nature of the smoke remains unspecified. The artist, in a post on both Instagram and X, stated, "After

Prominent figures in the US business sphere, including Apple's Tim Cook, BlackRock's Larry Fink, Blackstone's Steve Schwarzman, and Visa's Ryan McInerney, are scheduled to attend a dinner with Chinese President Xi Jinping in San Francisco. The guest list also includes Pfizer'

Amazon, $AMZN, to sell cars online, starting with Hyundai, per TechCrunch. Amazon is set to expand its presence in the automotive market by allowing auto dealers to sell cars through its platform starting next year. The initiative will kick off with South Korean automaker Hyundai. While Amazon has previously entered

Applications for unemployment benefits rose by 13,000 to 231,000 for the week ending Nov. 11. More Americans applied for unemployment benefits last week, and although the overall labor market is still robust, there are emerging indications that it might be entering a cooling phase. For the week ending

BlackRock files for spot ethereum ETF. BlackRock, the prominent asset management giant, has formally submitted an application for an Ethereum exchange-traded fund (ETF), showcasing its continued commitment to cryptocurrency investments in line with growing investor confidence in the approval of such financial instruments. The iShares Ethereum Trust, recently registered and

Ripple CEO has said that SEC has lost sight of mission to protect investors, per CNBC. Ripple's CEO, Brad Garlinghouse, sees the recent legal victories against the U.S. Securities and Exchange Commission (SEC) as a potential indicator of changing dynamics in the crypto landscape within the United

A third of home buyers are paying all cash as mortgage rates stay high, per Redfin. contributing to increased inequality in the housing market, with a growing number of homebuyers opting for all-cash transactions. According to the analysis, approximately 34.1% of homebuyers in the U.S. paid in all

Representative George Santos spent campaign funds on Botox treatments, designer goods, OnlyFans, and Atlantic City trips. per the House Ethics Committee. The House Ethics Committee asserted the discovery of "substantial evidence" pointing to misconduct by the freshman congressman, implicating him in the alleged misuse of campaign funds for

WeWork founder, Adam Neumann, remains a billionaire even with firm’s bankruptcy. He is still worth $1.7 billion, per Bloomberg. After filing for Chapter 11 bankruptcy protection, WeWork has unveiled a list of 40 "underperforming locations" in New York City that it intends to exit, subject to

The US Defense Department has failed its financial audit for the sixth consecutive year, per Bloomberg. For the sixth consecutive year, the Pentagon has failed an independent audit of its accounting systems, according to Mike McCord, the Defense Department's chief financial officer. Secretary of Defense Lloyd Austin acknowledges

"After today, would you still refer to President Xi as a dictator?" asks a reporter. "Look, he is. He's a dictator in the sense that he's a guy who runs a country that is a communist country that's based on a

Soros Fund Management, the asset manager for billionaire George Soros' Open Society Foundations, has sold its 10,000 shares in Nvidia, $NVDA, and added 80,000 shares in Taiwan Semiconductor Manufactoring Company, $TSMC. In the third quarter, Michael Burry, the hedge fund manager famous for his bets against the

Mortgage demand climbs to the highest level in five weeks after interest rates move lower, per CNBC. Current homeowners and potential homebuyers are slowly responding to the decline in mortgage rates. According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage demand increased by 2.8% last week compared

US senior official: Xi said no such plans of China military action against Taiwan in coming years U.S. President Joe Biden and Chinese leader Xi Jinping reached significant agreements on Wednesday during their first in-person talks in a year. The leaders, meeting on the outskirts of San Francisco for

Credit card delinquencies are rising particularly quickly for those with auto and student loans, per the Fed. Credit card debt has reached $1.08 trillion in US, an all time high. The burden of credit card debt is on the rise. As of Tuesday, Americans collectively owe $1.08 trillion

Take-Two Interactive, $TTWO, CEO, Strauss Zelnick, believes that games should be priced on a per-hour basis, per Exputer. In essence, the value of a game is often tied to its duration, mirroring sentiments expressed by gamers over the years who contend that shorter games, typically enjoyed over a weekend, should

The 2020 election rigging claim has become a focal point as Meta quietly adjusted its policy in 2022, post-US midterm primaries, allowing political advertisers to assert that past elections were "rigged" or "stolen." While Meta still bars questioning the legitimacy of ongoing or future elections, this