Federal prosecutors are digging into internal practices at Block, the financial technology firm launched by Twitter co-founder Jack Dorsey, discussing with a former employee alleged widespread and yearslong compliance lapses at the company’s two main units, Square and Cash App, two people with direct knowledge of the contacts say. During the discussions, the former employee provided prosecutors from the Southern District ...
Former President Donald Trump is building a second-term economic agenda that analysts say could reheat the very inflation that he has slammed President Joe Biden for creating. “I call it a ring around the country. We have a ring around the country,” Trump said in a Time magazine interview released Tuesday, referring to aggressive tariffs he has promised to impose in a second term. “I also don’t believe ...
Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is still trading well below the more than $70 per share it opened at in its public trading debut on March 26. Trump Media in a ...
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. The payrolls processing firm reported Wednesday that companies added 192,000 workers for the month, better than the Dow Jones consensus outlook for 183,000 though a slight step down from the upwardly revised 208,000 in ...
It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have been predicting that consumers would cut back on their spending in response to ...
Nineteen people have been killed after a highway collapsed in China’s Guangdong province on Wednesday, according to the country’s state broadcaster, CCTV. A section of the express highway connecting Meizhou City and Dapu City in Guangdong Province collapsed at around 2:10 a.m. on Wednesday, leaving eighteen cars trapped, CCTV reported. Widely circulated social media videos shot in darkness showed a ...
China’s newest, largest and most-advanced aircraft carrier, the Fujian, took a big step to joining the world’s largest naval fleet on Wednesday as it set out from Shanghai for its first sea trials. The naval assessment is expected to take place in the East China Sea, about 130 kilometers (80 miles) from the Jiangnan Shipyard where the carrier has been ...
In the early days of 2020, as science looked for answers to a mysterious viral outbreak in central China, a prominent Chinese virologist stepped forward to share critical data with the world. Zhang Yongzhen’s disclosure of the genome of the virus that causes Covid-19 was a crucial step in the race to combat the pandemic, helping researchers globally to identify the pathogen and ...
A transitional council responsible for choosing Haiti’s next leadership has named one of its members as council president and proposed a new interim prime minister amid efforts to control the gang violence in the Caribbean nation. The council, which is responsible for paving the way for elections and addressing the country’s deteriorating security situation, on Tuesday named Edgard Leblanc Fils ...
A nearly 300-year-old settlement once submerged beneath a major dam in the Philippines has reemerged as sweltering heat and drought dry up the reservoir. Structures, including part of a church, tombstones and a municipal hall marker, reappeared in the middle of Pantabangan Dam in Nueva Ecija province in March after months of almost no rain, Marlon Paladin, a supervising engineer ...