California sues Huntington Beach over city-wide affordable housing law
The state of California has sued Huntington Beach over claims that the city is not in compliance with state affordable housing laws.
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Business InsiderA couple is accusing JPMorgan of drilling open their safe deposit boxes and selling $10 million of their jewelry after they failed to pay rent for the boxes
The couple said in their complaint the bank assured them in October 2019 that their valuables would be returned — but it still auctioned the items.
- TheStreet.com
Coinbase Announces Very Bad News
The cryptocurrency exchange says it received a warning from the Securities and Exchange Commission (SEC), suggesting a possible enforcement action.
- South China Morning Post
US semiconductor firm Marvell lays off entire China research and development team in latest round of job cuts amid industry slowdown
US semiconductor company Marvell Technology is laying off its entire research and development team in mainland China, about five months after the firm initiated job cuts to scale down its operations in the world's largest chip market. Santa Clara, California-based Marvell said it is eliminating about 320 jobs, or 4 per cent of its global workforce, in response to what the company described as an industry slowdown, according to a statement from the firm on Wednesday. "We are streamlining our orga
- INSIDER
YouTuber Tasha K, who accused Cardi B of having herpes, has apologized after losing her appeal against the rapper's $4 million lawsuit win: 'Talk about a check my mouth can't cash'
Cardi sued Tasha K in 2019, claiming the YouTuber had launched a "malicious campaign" against her and became "obsessed" with her.
- TheStreet.com
Leaked Documents Show Amazon Made an Enormous Mistake
The last year has seen a large number of job layoffs in the technology sector. Major companies like Salesforce, ESPN, Microsoft, Google, and Meta Platforms have all announced cuts to staffing -- a move that has been largely attributed to the rapid growth of online tech during the covid-19 lockdown. Amazon is one of the biggest companies announcing waves of job cuts -- in January, the company let go of more than 2,300 employees in the payments, health care, human resources, robotics, and web services departments.
- Fox News
Biden's DOJ is quietly trying to orchestrate taxpayer-funded bailout of Moderna
The Department of Justice recently sided with pharmaceutical giant and COVID-19 vaccine maker Moderna, which has argued taxpayers should be liable for potential patent infringement.
- Bloomberg
House GOP Accuses Global Ad Group Fighting Misinformation of Violating US Law
(Bloomberg) -- House Republicans are accusing an industry group of violating antitrust laws with its efforts to fight online misinformation.Most Read from BloombergJack Dorsey’s Block Falls After Hindenburg Says It’s Short the StockUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidShort Seller Hindenburg Says ‘Another Big One’ Coming SoonFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionIn a letter Wednesday, GOP
- Associated Press
Lawsuit: Slurs, coercion at BBQ chain with racist history
A South Carolina barbecue chain known for its pro-segregation stance in a landmark 1960s case and its embrace of the Confederate flag in 2000 is facing allegations of racism and sexual harassment by the fired general manager of one of its restaurants. According to a lawsuit filed this week by a Black woman who worked at a Maurice’s Piggie Park BBQ location in Columbia, the man who ran it, general manager Jeff Harrison, coerced her early last year into a sexual relationship with promises of a raise, which he paid. In a separate lawsuit brought last month by Damien Wooden, another Black former employee, Wooden contends that Harrison left him racist voicemails including slurs and threatening to break his jaw after he told Harrison to stop calling and harassing the female employee who quit.
- Fortune
How Adobe’s CFO is avoiding mass layoffs: ‘We don’t want our employees worried about when the next shoe is going to drop’
Dan Durn talks about Adobe's growth, preventing mass layoffs, and generative A.I.
- Reuters
Senior Meta ads exec departs amid efficiency drive
A veteran Meta advertising product executive will leave the company in May, according to an internal announcement seen by Reuters, amid a months-long pruning of projects and staff that Chief Executive Mark Zuckerberg has dubbed the "year of efficiency." Dan Levy, currently the social media giant's vice president of business messaging, said in a post to Meta's internal social network on Monday that he wanted to focus on family after losing a child to leukemia. A Meta spokesperson confirmed Levy's departure and said business messaging would remain a strategic priority and area of investment for the company this year.
- CoinDesk
Is This Finally an Atomic Bomb From the SEC?
The U.S. Securities and Exchange Commission’s notice to Coinbase (COIN) that it’s likely to be accused of breaking securities laws could foreshadow an agency effort to break the back of the crypto sector as it now operates, but it also may finally force court rulings that define how the industry can move forward.
- Reuters
U.S. watchdog orders Virginia debt collector to pay $24 million for illegal practices
Rohit Chopra, director of the Consumer Financial Protection Bureau, said Portfolio Recovery Associates had been "caught red handed" in 2015, but had persisted in "intimidation, deception and illegal ... tactics" to collect on unsubstantiated and undocumented consumer debt in recent years. "CFPB orders are not suggestions, and companies cannot ignore them simply because they are large or dominant in the market," Chopra added. Portfolio Recovery Associates said it had admitted to no wrongdoing.
- Reuters
Falling US gasoline stockpiles signal a repeat of last summer's high prices
U.S. motorists face a repeat of last summer's high gasoline prices, analysts warned on Wednesday, with fuel stockpiles heading towards multi-year lows ahead of the peak summer driving season that begins in two months. Retail gasoline prices, now averaging $3.44 a gallon nationwide, hit a record $5.02 a gallon last June as crude oil prices jumped on Russia's invasion of Ukraine and the waning of COVID-19 travel curbs unleashed pent up travel demand. Vehicle travel in the U.S. started the year 5.6% higher than last year, leading to a drop in gasoline stockpiles for five straight weeks.
- Fox News
Justice Ketanji Brown Jackson is lone dissenter as Supreme Court vacates abortion ruling
Supreme Court Justice Ketanji Brown Jackson issued a lone dissent on an abortion case stemming from a lawsuit in Missouri involving a pregnant teenager.
- CoinDesk
SEC Warns Coinbase It's Pursuing Enforcement Action Over Securities Violations
Crypto exchange Coinbase (COIN) may soon face an enforcement action tied to its listing of potential unregistered securities, the company said Wednesday.
- CoinMarketCap
Coinbase Furious as SEC Suggests It Will Take Enforcement Action
Announcing the news, a punchy blog post from the exchange said: "We asked the SEC for reasonable crypto rules for Americans. We got legal threats instead."
- CoinDesk
Crypto Exchange Coinbase Suspends Algorand Staking Rewards
Coinbase did not give a specific reason for terminating the rewards.
- Miami Herald
Something is rotten in Florida home foreclosures — and cities are shamelessly cashing in | Opinion
What began as a reasonable goal of targeting derelict “zombie” properties owned by real estate speculators has been turned on its head.
- MoneyWise
The Big Quit: Almost 70% of US workers plan to leave their jobs in 2023 — and Gen Z, millennials are leading the charge. 3 tips to successfully carve a new career path this year
Leave your job but don't resign yourself to a frugal future.
- Reuters
U.S. judge orders $1.68 billion payout to families over 1983 Beirut bombing
(Reuters) -A federal judge in New York ordered Iran's central bank and a European intermediary on Wednesday to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of the U.S. Marine Corps barracks in Lebanon. U.S. District Judge Loretta Preska said a 2019 federal law stripped Bank Markazi, the Iran central bank, of sovereign immunity from the lawsuit, which sought to enforce a judgment against Iran for providing material support to the attackers. The lawsuit also names Luxembourg-based Clearstream Banking SA, which is holding the assets in a client account.