The banking crisis that formed from the failures of Silicon Valley Bank (SVB) and Signature Bank was the result of a wide range of factors, including Federal Reserve supervisors who did not do enough to make sure that SVB management fixed the company’s problems, according to a new report from the central bank. The Fed Board…
Federal Reserve Admits It ‘Failed’ in Lead up to Silicon Valley Bank Collapse
Fox News Ratings Drops 56 Percent After Tucker Carlson’s Exit
In the wake of Tucker Carlson’s sudden departure this week, ratings for Fox News’s new 8 p.m. weekday show appear to be on the decline as viewership again tumbled on Wednesday night. Data published by ratings service Nielsen show that Fox drew some 1.33 million viewers for substitute host Brian Kilmeade and “Fox News Tonight” in…
Fox News Ratings Drop 56 Percent After Tucker Carlson’s Exit
In the wake of Tucker Carlson’s sudden departure this week, ratings for Fox News’s new 8 p.m. weekday show appear to be on the decline as viewership again tumbled on Wednesday night. Data published by ratings service Nielsen show that Fox drew some 1.33 million viewers for substitute host Brian Kilmeade and “Fox News Tonight” in…
Biden Puts Economy in ‘Jeopardy’ By Not Negotiating Debt Ceiling: McCarthy
House Speaker Kevin McCarthy (R-Calif.) is criticizing Biden for endangering the American economy by failing to negotiate the debt ceiling, with Sen. Joe Manchin (D-W.Va.) also asking for negotiations. “The Senate’s done nothing,” McCarthy said in an April 27 interview with Bloomberg. “They haven’t done anything on the debt ceiling, and the president’s ignored this…
Gap Cuts 1,800 Corporate Jobs Amid Sales Slump
Apparel retailer Gap announced on Thursday that it will lay off 1,800 employees as it looks to cut costs amid weak sales and excess inventory. The San Francisco-based chain said in a regulatory filing that employees in its San Francisco and New York offices, as well as upper field positions such as regional store managers, will…
Productivity Slows to a Crawl as Recession Sets In
Commentary For reasons I cannot explain, there was widespread shock at the new GDP numbers for the first quarter. They revealed a 1.1 percent growth rate, which is a crawl and much lower than the experts anticipated. And the new data points to an inexorable reality. Certainly the recession will be obvious by the summer…
Exxon Delivers Record 1st-Quarter Profit on Higher Output
HOUSTON—Exxon Mobil Corp. on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter COVID-19…
Bill O’Reilly: Fox News Did Tucker Carlson ‘a Favor’ in Firing
Bill O’Reilly predicted Wednesday that Tucker Carlson is going to make a fortune now that he’s able to pursue an independent career without having to answer to a larger corporate structure. O’Reilly, who hosted his own show on Fox News, “The O’Reilly Factor,” until parting ways with the network in 2017, said during an interview with…
New York Transit Authority Drops Twitter for Real-Time Alerts, Says It’s ‘No Longer Reliable’
New York City’s Metropolitan Transit Agency (MTA) has announced that it’s “saying goodbye” to Twitter as a platform for delivering service alerts and information, citing reliability problems. For over a decade, MTA has provided real-time information on service outages, delays, and other important transit updates for its 1.3 million Twitter followers. This is now coming…
Wall Street Opens Lower as Amazon Drags, Inflation Worries Persist
April 28, 2023
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Wall Street’s main indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented bets that the Federal Reserve will hike interest rates again next week. The Dow Jones Industrial Average fell 28.73 points, or 0.08 percent, at the open to 33,797.43. The S&P 500 opened…
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