Business News

On Tuesday, Wells Fargo was hit with $3.7 billion in fines by federal regulators. The allegations date back multiple years ago and affected over 16 million customer accounts, according to CNN. The Consumer Financial Protection Bureau (CFPB) ordered Wells Fargo to pay the $1.7 billion civil penalty as well as more than $2 billion in compensation to customers for a slew of “illegal activity.”  The “illegal activity”...

On Wednesday, Sam Bankman-Fried’s lawyer announced that he consented to be extradition to the United States. There, his lawyers will continue to work with prosecutors on a bail arrangement. Something of which, he was denied the Bahamas due to a “flight risk.” CNN reported that US embassy representatives are working to extradite Bankman-Fried as soon as Bahamian officials turn him over to U.S. custody.  For the last...

This holiday season families have been hit hard by the “tripledemic” of COVID-19, influenza, and respiratory syncytial virus (RSV).  Although COVID-19 cases are lower than they were last winter, in recent months hospitals have seen a rise in cases. According to the Department of Health and Human Services, more than 77% of hospital beds are occupied. Alarming numbers of flu and RSV cases have been reported...

Elon Musk asked Twitter users in a poll on Sunday if he should “step down as head of Twitter.” He claimed, “I will abide by the results of this poll.” Based on the results, a new CEO is on the horizon. Musk acquired the social media company in October in a $44 billion deal. However, Musk claims it was never in his plans to be CEO of...

Fortnite maker, Epic Games, will settle fines totaling $520 million with The Federal Trade Commission (FTC) to resolve claims of child privacy violations and trickery. The global sensation video game, Fortnite, has amassed more than 400 million players around the world since its release in 2017, according to BBC. The game includes in-app purchases, which has led to accusations of deceptive billing practices.  BBC reported, “the FTC...

Disney stock fell on Monday following the much-anticipated release of “Avatar: The Way of Water” which had a “softer than expected” opening box office weekend, according to CNBC.  “Disney shares were trading down more than 4% at around $86 each, hitting a 52-week low for the company that has seen its stock fall more than 40% in the last year,” per CNBC’s report.  The film brought in...

Amazon has introduced a new feature in its app, a short-form video and photo feed called Inspire. Although some people are comparing it to TikTok, the director of Amazon shopping, Oliver Messenger, claimed that “it wasn't TikTok's success that encouraged the company to build Inspire – it was customer feedback,” Yahoo Finance reported.  Messenger explained that video and photo feed was something customers were asking for...

Starbucks employees across the nation are uniting. About 100 store locations across the United States will be on strike for the next three days as the union protests unfair labor practices.  This is the second strike organized by Starbucks Workers United, the first being a one-day strike in November.  According to NPR, “More than 264 of Starbucks' 9,000 company-run U.S. stores have voted to unionize since late...

American Airlines made the announcement on Thursday that changes were on the horizon for its AAdvantage loyalty program. The goal of implementing these changes is to achieve simplicity, according to AAdvantage Managing Director, Heather Samp.  Starting in March, AAdvantage members will have the opportunity to achieve certain perks before reaching the lowest level of elite status.  According to USA Today, “Once a member accrues 15,000 Loyalty Points,...

Netflix announced last Thursday that Harry & Meghan had the biggest documentary debut week in the history of the streaming service, People reported.  The first three episodes of the six-part documentary were released last Thursday and have amassed 81.55 million viewing hours, according to Netflix. Additionally, it was reported that more than 28 million households streamed at least a portion of the docu-series.  Harry & Meghan took...