Category Archives for "Latest Business News"

Fed’s Core PCE Index Unexpectedly Accelerates, Consumer Spending Soars, Raising Pressure to Raise Interest Rates

The Federal Reserve’s preferred inflation gauge, the Core PCE Index, unexpectedly accelerated in January, while consumer spending surged after a year-end slump, adding pressure on policymakers to keep ratcheting up interest rates.[0] The Core PCE Index rose 0.6% in January compared to the 0.2% in December, resulting in an annual increase of 5.4%, more than […]

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Cosori Air Fryer Recall: Over 2 Million Units Affected

Prominent air fryer brand Cosori, owned by Anaheim-based Atekcity Corporation, is recalling around 2 million units sold in the U.S., Canada, and Mexico due to fire and burn hazards. The Consumer Product Safety Commission (CPSC) announced the recall Thursday, urging consumers to immediately stop using the products.[0] The affected models are the 3.7-quart and 5.8-quart […]

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Nvidia (NVDA) Surges 14% on Stronger-Than-Expected Q4 Results, US Unemployment Claims Unexpectedly Fall, Gold Futures Slump, and Domino’s Pizza (DPZ) Misses Revenue Estimates

Shares of Nvidia (NVDA) surged 14% on Thursday after the semiconductor giant posted stronger-than-expected fourth-quarter results and guidance, with Wall Street analysts praising the chip maker.[0] This news came on the back of an artificial intelligence (AI) driven boom in chip demand, and investors are now expecting at least two more Federal Reserve rate increases […]

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Thomas H Lee, Legendary Financier, Dead at 78

Thomas H Lee, the American billionaire financier and investor, was found dead on Thursday morning from a self-inflicted gunshot wound at his office in Manhattan, according to police officials.[0] He was[1] The family of the renowned financier and private equity pioneer released a statement on Thursday, saying: “The family is extremely saddened by Tom’s death. […]

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CEO of Ozy Media Arrested on Fraud Charges

Carlos Watson, the CEO and co-founder of the embattled Ozy Media, was arrested on Thursday on fraud charges after his former partner Samir Rao pleaded guilty to similar charges earlier this week.[0] The Wall Street Journal first reported Watson’s arrest.[1] According to prosecutors for the Eastern District of New York, Watson had “engaged in a […]

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Disgraced Crypto Co-Founder Faces 12 Criminal Charges, Including Conspiracy

Sam Bankman-Fried, the disgraced co-founder of now-defunct cryptocurrency exchange FTX, faces 12 criminal charges, including four additional counts of conspiracy, after a superseding indictment was unsealed on Thursday.[0] The new charges include conspiracy to commit bank fraud, conspiracy to operate an unlicensed money transmitting business, and conspiracy to defraud the Federal Election Commission.[1] According to […]

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