Business

Rohit Chopra testifies before Congress as CFPB takes legal action against Zelle

Rohit Chopra testifies before Congress as CFPB takes legal action against Zelle

Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), testified before the Senate Committee on Banking, Housing, and Urban Affairs in late November 2023, addressing ongoing consumer financial protection issues. A few weeks later, the CFPB stepped up its efforts by filing a lawsuit against Zelle, a major peer-to-peer payments network, and its three largest operators – JP Morgan Chase, Bank of America and Wells Fargo – for failing to fight fraud. and adequately compensate victims. The lawsuit marks a significant step in the CFPB's broader campaign to hold financial institutions accountable for fraud-related customer losses. Customers of the…
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Tradition reimagined in every Empatia Cigar

The realm of luxury cigars is a place where heritage, artistry, and meticulous craftsmanship intersect to craft items of superb quality and enduring allure. Leading this specialized sector is Empatia Cigars, a brand synonymous with distinction and esteemed by aficionados worldwide. Through an unmatched dedication to quality and a steadfast pursuit of perfection, Empatia Cigars has established itself as the maker of the world's finest cigars for a supreme smoking experience.The beginnings of Empatia Cigars are steeped in the tradition-laden tobacco fields of Central and South America. These areas are renowned for their distinct blend of soil, climate, and tobacco-growing…
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Wholesale prices and labor market trends fuel mixed economic outlook

Wholesale prices and labor market trends fuel mixed economic outlook

November brought an unexpected rise in wholesale prices, casting doubt on the pace of inflation's decline, according to data released Thursday by the Bureau of Labor Statistics (BLS). The producer price index (PPI), a key measure of what manufacturers charge for goods and services, rose 0.4% on the month, beating the Dow Jones estimate of 0.2%. On a year-over-year basis, PPI rose 3%, the biggest annual gain since February 2023. Excluding food and energy price volatility, core PPI increased 0.2%, in line with market expectations. Furthermore, excluding commercial services, the monthly PPI increase fell to just 0.1%. However, the core…
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Dolphin Entertainment CEO increases ownership, signaling confidence in company’s future

Dolphin Entertainment CEO increases ownership, signaling confidence in company’s future

William O'Dowd IV, CEO of Dolphin Entertainment Inc. (NASDAQ:DLPN), increased his personal investment in the company by acquiring an additional 13,000 shares of common stock. The shares were purchased at an average price of $1.09 each, bringing the total value of the transaction to approximately $14,170. This move highlights O'Dowd's confidence in the company's future and its recent performance metrics, including an impressive 94% gross profit margin and a 22% revenue growth rate over the past year. The purchase, completed on December 17, 2024, increases O'Dowd's direct ownership in Dolphin Entertainment to 147,493 shares. In addition to this, O'Dowd also…
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Apple accused of monitoring employees and restricting discussions about pay and conditions

Apple accused of monitoring employees and restricting discussions about pay and conditions

Apple is accused of illegally surveilling the personal devices and iCloud accounts of its employees, particularly when they discuss pay and workplace conditions. A new complaint, filed by Domingo Amar Bhakta in a California state court, accuses the tech giant of requiring employees to install software on personal devices used for work. This software supposedly grants Apple access to sensitive personal data, including emails, photo archives, health information, and even data from “smart home” devices. Bhakta, who works in Apple's digital advertising division and has been with the company since 2020, claims that Apple has strict privacy policies that prevent…
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Federal Reserve expected to cut rates despite persistent inflation and strong economy

Federal Reserve expected to cut rates despite persistent inflation and strong economy

Federal Reserve Chair Jerome Powell and the Federal Open Market Committee (FOMC) will announce their latest monetary policy decision on Wednesday, and market participants are preparing for a surprising move. Despite inflation remaining above the Fed's 2% target, robust economic growth of around 3% and a strong labor market, the central bank is expected to lower its benchmark interest rate by 25 points basis, bringing the target range to 4.25%-4.5. %. This potential cut comes as a surprise to many, as conventional wisdom would suggest that the Fed might maintain or even raise rates under such economic conditions. Futures market…
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Legal battle over Trump’s falsified records case remains unresolved ahead of inauguration

Legal battle over Trump’s falsified records case remains unresolved ahead of inauguration

A judge has ruled against President-elect Donald Trump's attempts to throw out his guilty plea in a case involving allegations of falsifying business records, a case linked to a controversial payout during his 2016 presidential campaign. The ruling comes in context of a recent U.S. Supreme Court decision on presidential immunity, raising questions about the case's broader implications. Judge Juan M. Merchan of Manhattan rejected Trump's bid to overturn his guilty plea, delaying any potential resolution until he takes over the presidency next month. Trump's legal team has argued that the charges should be reconsidered, citing his imminent return to…
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Discover elegance in every Empatia Cigar

The realm of luxury cigars is a place where heritage, artistry, and meticulous craftsmanship intersect to craft items of superb quality and enduring allure. Leading this specialized sector is Empatia Cigars, a brand synonymous with distinction and esteemed by aficionados worldwide. Through an unmatched dedication to quality and a steadfast pursuit of perfection, Empatia Cigars has established itself as the maker of the world's finest cigars for a supreme smoking experience.The origins of Empatia Cigars are deeply rooted in the tradition-rich tobacco plantations of Central and South America. These regions are famed for their unique combination of soil, climate, and…
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China engages U.S. financial leaders as it braces for potential trade tensions under Trump

China engages U.S. financial leaders as it braces for potential trade tensions under Trump

In an effort to address expected challenges to U.S.-China relations under President-elect Donald Trump, Chinese Vice Premier He Lifeng recently met with several top U.S. financial executives. These meetings come as Beijing prepares for the possible imposition of tariffs on Chinese goods, a key part of Trump's campaign rhetoric. He Lifeng, one of China's four vice premiers and a leading figure in the country's economic and financial policy, has actively sought to establish connections with influential players in American financial circles. In the past month, he had talks with Larry Fink, chief executive of BlackRock, on December 5, and John…
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Hershey shares surge as rumors of Mondelez takeover resurface

Hershey shares surge as rumors of Mondelez takeover resurface

Hershey shares surged as much as 15% in Monday trading following a Bloomberg report suggesting that Mondelez may attempt another takeover of the iconic chocolate company. This marks a notable development in ongoing speculation about Hershey's future as an independent entity, with its shares now on track for their best day since mid-2016. Prior to this rally, Hershey's stock had faced a turbulent year, with its value falling about 6% due to concerns over rising cocoa prices and the growing use of GLP-1 drugs, which according to some analysts they could suppress the demand for confectionery products. With Monday's boost,…
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