A lawyer for Spirit Airlines said Tuesday that the surge in jet fuel prices left the company with “no remaining way out” of bankruptcy and caused it to cease operations last weekend, while it seeks permission to sell assets on an ongoing basis and pay bonuses to remaining employees. Marshall…
Chevron CEO Mike Wirth on Monday said that shortages in the oil supply chain will start appearing around the world because of the closure of the Strait of Hormuz amid the Iran war. Wirth made the comments during a discussion at the Milken Institute’s Global Conference about global economic growth…
Gary Shilling, the legendary forecaster known for his bearish accuracy and being fired from Merrill Lynch for predicting the 1969-70 recession, is sounding the alarm on a 2026 economic collapse. In a recent interview with Business Insider, Shilling warned that a U.S. recession is “almost inevitable” by year-end, driven by…
Officials are warning customers about banking spoof calls that could trick them into emptying their accounts, with scammers posing as banking or law enforcement officials who claim they are trying to protect the customer’s money. The FBI has described these calls as a growing problem in which customers are convinced…
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President Donald Trump said on Friday that the U.S. gave Spirit Airlines a final bailout proposal to aid the beleaguered…
Fidelity and Vanguard’s charitable arms have reportedly paused grants to the Southern Poverty Law Center (SPLC) through their donor-advised funds…
For the generation that should be in its “peak savings years,” the prospect of retiring on time has shifted from…
The Walt Disney Company is reportedly backing away from plans to spin off ESPN, shelving years of speculation that a…
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The AAA national average price for regular gas soared more than nine cents higher in one day, surging from $4.30 as of Thursday to $4.392 as of Friday. The current figure is a whopping $0.333 higher than the week-ago average price of $4.059, according to…
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BAYOU LA BATRE, Alabama — Many American shrimpers are keeping their shrimp boats docked with an empty tank ahead of shrimping season as high fuel prices and tariff refunds hit the industry with a “double whammy.” Rising diesel costs — driven in part by geopolitical tensions affecting global oil supply —…
Nearly 13,000 toddler towers across three brands were recalled after dozens of incidents and 21 injuries were reported due to the stools collapsing or tipping, according to federal regulators. The three affected products — Toetol Tower Stools, Wiifo Children’s Tower Stools and Amzcmj DGD Children’s Tower Stools — total about…
Federal Reserve Chair Jerome Powell on Wednesday announced he will remain a member of the Fed’s Board of Governors after his term as chairman ends next month, though he added that he won’t be a “shadow Fed chair.” The outgoing Fed chair hosted his final news conference after the Federal…
This story about the Federal Reserve’s April interest rate decision is developing and will be updated with further details. The Federal Reserve on Wednesday announced it will leave interest rates unchanged amid concerns about inflation rising further amid the war in Iran.Fed policymakers voted to leave the benchmark federal funds rate…
The AAA national average price for regular gas has soared to $4.229 as of Wednesday, the highest notched so far during the ongoing tensions between the U.S. and Iran. While that number is more than a dollar higher than the AAA national average of just $3.161 a year ago, it…
A new proposal would allow Social Security beneficiaries to continue working without having their benefits diminished, which could make it easier for retirees to pay off their mortgages or more easily handle other expenses like property tax burdens. The Senior Citizens’ Freedom to Work Act was introduced in Congress earlier…
Many California residents who move out of the state are finding substantial savings on housing costs and an easier pathway to homeownership as affordability concerns weigh. A recent analysis by the California Policy Lab at UC Berkeley, using data that anonymously tracks the same households over time from 2016 to…
The Federal Reserve will announce its latest interest rate on Wednesday when Fed Chair Jerome Powell will host what may be his final press conference as the leader of the central bank, with his term as chairman due to expire next month. The Federal Open Market Committee (FOMC), the Fed…
The United Arab Emirates said on Tuesday that it will leave OPEC and OPEC+, effective May 1. The stunning loss of the UAE, a longstanding OPEC member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of…
A group of budget airlines is reportedly seeking financial assistance from the federal government that could convert to an equity stake in the air carriers. The Wall Street Journal reported on Sunday that the group of budget airlines, including Frontier and Avelo, is seeking $2.5 billion in federal assistance through…
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