The class action lawsuit is similar to the one settle with Facebook claiming Google violated the Illinois Biometric Information Act.
Costco offers a very simple proposition to its members. Basically, Costco offers no frills -- its stores aren't just called warehouses, they actually are warehouses -- and items are basically just stacked on pallets. Costco also puts relentless pressure on its vendors to squeeze out every penny of cost from each item.
- Road & Track
A federal jury concluded GM sold 5.3-liter V-8 engines with excessive oil consumption, leading to premature failure.
- American City Business Journals
Lockhart, south of Austin, had been a finalist for this massive semiconductor factory. Micron said Oct. 4 it will invest up to $100 billion to build the fabrication facility in Central New York, with the help of $5.5 billion in incentives.
(Bloomberg) -- When the US government blacklisted Huawei Technologies Co. as a national security threat, it cut the Chinese company off from buying American semiconductors and other critical technologies. Now Huawei may have a path around those restrictions. The Chinese technology giant is providing support to a startup in its hometown of Shenzhen that has ordered chipmaking equipment -- including from foreign suppliers -- for a semiconductor manufacturing plant, according to people familiar wit
It's been a tough time for the airline industry lately. It recently made a change where its Rapid Rewards Members can now achieve A-List or A-List Preferred tier status much quicker, which will make it easier to accumulate points that can be used for such perks as priority boarding and the ability to make a same day change with no difference in base fare. The company also introduced a feature that lets customers change their boarding group for an added fee starting at $30, either online or via the Southwest app, within 24 hours of departure.
Over 50% of CEOs say they’re considering cutting jobs over the next 6 months — and remote workers may be the first go to
Microsoft researchers recently warned of 'productivity paranoia' among managers about their hybrid workforce.
- Associated Press
A Southwest Airlines pilot is suing the company, her union and a former colleague who pleaded guilty last year to dead-bolting the cockpit door during a flight and stripping naked in front of her. Christine Janning alleges that Southwest retaliated by grounding her after she reported Michael Haak to the company and the FBI, that it kept him employed despite an alleged history of sexual misconduct and that managers disparaged her in memos. Haak's attorney, Michael Salnick, said Wednesday that his client disrobed only after Janning encouraged him to and never did anything else.
- KERO - Bakersfield Scripps
A new law signed by California Governor Gavin Newsom that will ban plastic produce pre-checkout bags. This is inspired the 72 percent drop in grocery bag litter following the banning of single-use plastic grocery bags.
Taiwan will use the new U.S.-led "Chip 4" group to safeguard the interests of Taiwanese companies and to ensure supply chain resilience, a deputy minister said on Wednesday, though he added that the group had no agenda yet. A preliminary meeting of the group took place last week with representatives from Taiwan, the United States, South Korea and Japan attending. A global semiconductor shortage has thrust chip powerhouse Taiwan into the spotlight and made supply chain management a bigger priority for governments around the world.
- Forkast News
The U.S. Securities and Exchange Commission (SEC) has objected to motions from two firms that had requested to file amicus briefs in support of Ripple Labs Inc., in the lawsuit that the SEC filed in 2020 against Ripple. See related article: Two firms seek to weigh in on XRP lawsuit between SEC, Ripple Fast facts […]
Saudi Arabia, Russia and other top oil producers agreed on a major cut in production on Wednesday to boost crude prices -- a move denounced by the United States as a concession to Moscow that will further hurt the global economy. The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two million barrels per day from November at a meeting in Vienna, the group said in a statement. It is the biggest cut since the height of the Covid pandemic in 2020, raising fears that it will turbocharge oil prices at a time when countries are already facing soaring energy-fuelled inflation. Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, defended the move, saying the cartel's priority was "to maintain a sustainable oil market", at a press conference following OPEC+'s first in-person meeting since March 2020. But the decision drew a swift rebuke from US President Joe Biden, who had made a controversial trip to Saudi Arabia in July under pressure as Americans faced rising prices at fuel stations. The timing is also bad for Biden's political agenda as it comes ahead of US midterm elections next month. "It's clear that OPEC+ is aligning with Russia with today's announcement," White House Press Secretary Karine Jean-Pierre said aboard Air Force One. National Security Advisor Jake Sullivan and top economic advisor Brian Deese said in a statement that Biden was "disappointed by the shortsighted decision by OPEC+". Western allies led by the United States have tried to isolate Russia's economy, which relies heavily on energy exports, in retaliation for the invasion of Ukraine. - Oil prices rise - OPEC+ decided to slash its output as oil prices fell below $90 per barrel in recent months over concerns about the global economy, after soaring to $140 in the wake of Russia's invasion of Ukraine earlier this year. The international benchmark, Brent North Sea crude, was up at $93.43 following Wednesday's announcement. The oil production cut could give sanctions-hit Russia a boost ahead of a European Union ban on most of its crude exports later this year and as the Group of Seven wealthy democracies mull a cap on the country's oil prices. Russian deputy prime minister Alexander Novak, who is under US sanctions and attended the OPEC+ meeting, said a price cap would have a "detrimental effect" on the global oil sector. He warned that Russian companies would "not supply oil to those countries" that introduce such a cap. "There is a reason why Russia is ready to participate with an OPEC cut -- because they are not sure whether they will find somebody to buy this oil," Patrick Pouyanne, chairman of French oil giant TotalEnergies, said at a London oil industry conference. Collectively known as OPEC+, the alliance drastically slashed output by almost 10 million barrels per day (bpd) in April 2020 to reverse a massive drop in crude prices caused by Covid lockdowns. OPEC+ began to raise production last year after the market improved. Output returned to pre-pandemic levels this year, but only on paper as some members have struggled to meet their quotas. The group agreed last month on a small, symbolic cut of 100,000 bpd from October, the first in more than a year. Consumer countries had pushed for months for OPEC+ to open taps more widely to bring down prices, but the group ignored them again. Biden travelled to Saudi Arabia in July in part to convince the kingdom to loosen the production taps. The trip saw Biden meet Crown Prince Mohammed bin Salman despite his promise to make Riyadh a "pariah" following the 2018 killing of journalist Jamal Khashoggi. While the cut was not welcomed by the United States, several OPEC+ nations have struggled to meet their quotas in the first place. The next ministerial OPEC meeting will be on December 4. In recent months, the cartel and its partners met online each month. burs-jza/
Once you reach your 60s, you may start asking yourself, "Should I work another year or retire?" The answer to this will depend on a number of factors. However, you shouldn't overlook the potentially...
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OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.”
The coalition of major producers have missed their output targets, making the headline number less impressive.
Many young people shouldn’t save for retirement, says research based on a Nobel Prize–winning theory
New research based on the life-cycle model says that people should strive for a consistent standard of living through their lives.
(Bloomberg) -- The world sorely needs more grains and Canada has a bin-busting harvest this year -- but shippers fear there aren’t enough rail cars to transport it all.There were almost 2,400 outstanding grain-car orders for the nation’s two major carriers, Canadian National Railway Co. and Canadian Pacific Railway Ltd., according to the latest data from the Ag Transport Coalition. That’s the worst backlog since flooding blocked access to Vancouver’s port in late 2021, stranding wheat and canola
- The Hill
The White House on Wednesday admonished what it called a “shortsighted decision” by OPEC and its allies to cut oil production by 2 million barrels per day, a move that could lead to a rise in gas prices domestically. National security adviser Jake Sullivan and top economic adviser Brian Deese issued a statement that took…
(Reuters) -The largest U.S. oil trade groups said on Tuesday that they have "significant concerns" that the Biden administration is considering limiting fuel exports to lower consumer prices and urged top officials to take the option off the table, according to a letter seen by Reuters. The joint letter from the American Petroleum Institute and the American Fuel and Petrochemical Manufactures to Energy Secretary Jennifer Granholm represents the latest volley in a clash between the oil industry and the Biden administration over high energy prices. President Joe Biden has made battling an energy-led surge in consumer prices a top priority and has repeatedly chided oil companies for earning bumper profits at a time of record gasoline prices.
Possible relaxation of U.S. sanctions on Venezuela comes after OPEC and its allies agreed to reduce their crude production levels by 2 million barrels a day.