Navient, one of the nation's largest student loan companies, has settled allegations of predatory lending practices, agreeing to cancel $1.7 billion in debt for more than 60,000 borrowers. It will also pay out $95 million in restitution to 350,000 borrowers.
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(Bloomberg) -- Farm equipment giant John Deere boasted record profits in 2021 as the global pandemic made consumers and countries more reliant than ever on a functioning agricultural sector. Also last year, unionized workers demanded a piece of the company’s growing pie, and after a strike forced John Deere to provide better compensation to the men and women who make its products.Most Read from BloombergEarly Omicron Breakthroughs Show mRNA Vaccines’ WeaknessJeremy Grantham Doubles Down on Crash
PARIS (Reuters) -Qatar Airways took a $4 million-a-day dispute with Europe's Airbus to social media on Friday, publishing a video https://www.youtube.com/watch?v=mKN0SpWeILo&feature=youtu.be of the scarred exterior of grounded A350 jets that the airline said underscored "serious and legitimate safety concerns." The two sides have been locked for months in a spiralling dispute over deterioration to paint and anti-lightning protection on the passenger jets, which Airbus has said is happening prematurely but does not represent any safety issue. Qatar Airways hit back with the first official images of jets grounded by its regulator after Airbus accused the state airline of engineering the dispute to obtain compensation.
PARIS (Reuters) -Airbus on Thursday raised the stakes in a dispute with major customer Qatar Airways over grounded and undelivered A350 jets by announcing it had revoked a separate contract for 50 smaller A321neo jets the airline plans to use for new routes. The move widens a dispute that moved closer towards a rare courtroom clash on Thursday, with a procedural hearing over Qatar's claim for more than $600 million in compensation over A350 flaws pencilled in for the week of April 26 in London. Airbus revealed it was walking away from the contract for A321neos in skeletal arguments presented during a scheduling session over the A350 dispute at a division of Britain's High Court on Thursday, people familiar with the matter said.
- Business Insider
The workers alleged their manager was unfairly fired. Noah's NY Bagels told KCRA it was looking into the matter.
- Miami Herald
Venezuela has doubled its oil production in recent months thanks to Iran and other players that are helping it evade U.S. sanctions, but the country’s industry is now running near the top of its capacity and it is unlikely it could go much higher than current output levels, according to industry analysts.
- Detroit Free Press
A new study shows that wages are not keeping pace with the escalating prices of new and used cars.
- Lexington Herald-Leader
OpEd: I’m beginning to think that maybe it’s not the workers who are at fault here.
Speaking in a virtual panel of the World Economic Forum, Tai cautioned against a backward-looking "return to normalcy" after two years of COVID-19-induced disruptions. "I think that it is time for us to acknowledge that our goal really shouldn't be to try to go back to the way the world was, say in 2019, but to take lessons, very hard earned lessons, very painful lessons that we have experienced over the past two years and take this opportunity to build toward something that is different and better," Tai said. Key to this will be to strengthen and diversify supply chains, she said.
(Bloomberg) -- Intel Corp. will announce Friday the next step in Chief Executive Officer Pat Gelsinger’s plan to build up semiconductor production in the U.S., seeking to restore the chipmaker’s edge in manufacturing technology.Most Read from BloombergJeremy Grantham Doubles Down on Crash Call, Says Selloff Has StartedTech Selloff Leads Stocks Lower; Bitcoin Sinks: Markets WrapAmerican Airlines Sues The Points Guy Over Its Rewards Management AppCrypto Selloff Pushes Bitcoin to a Six-Month Low of
- Business Insider
American Airlines is suing The Points Guy for letting customers manage frequent flyer miles on the TPG app
The airline says the data isn't adequately secured outside its website, while TPG says customers should be allowed to choose for themselves.
(Bloomberg) -- The global semiconductor shortage is hitting one of the industry’s most important gear makers, potentially creating a vicious cycle that will further strain supply to companies from Nissan Motor Co. to Apple Inc.Most Read from BloombergJeremy Grantham Doubles Down on Crash Call, Says Selloff Has StartedTech Selloff Leads Stocks Lower; Bitcoin Sinks: Markets WrapAmerican Airlines Sues The Points Guy Over Its Rewards Management AppCrypto Selloff Pushes Bitcoin to a Six-Month Low of
Chinese woman told by Lowe's customer to go back to her country is scolded by store employee for filming
A Lowe’s in Illinois has come under fire after a Chinese woman and Springfield resident claims another customer told her to go back to her country. Xuna Hu says she was shopping for two fire pits when the other customer tried to get Hu to hand over one of the pits, leading up to the alleged racist encounter at a Lowe’s branch on Wabash Avenue on Jan. 17. "I was like alright, I’ll just give you one then,” Hu told WICS Channel 20.
These are pathetic.View Entire Post ›
Germany's new coalition government wants to attract 400,000 qualified workers from abroad each year to tackle both a demographic imbalance and labour shortages in key sectors that risk undermining the recovery from the coronavirus pandemic. "The shortage of skilled workers has become so serious by now that it is dramatically slowing down our economy," Christian Duerr, parliamentary leader of the co-governing Free Democrats (FDP), told business magazine WirtschaftsWoche. "We can only get the problem of an ageing workforce under control with a modern immigration policy... We have to reach the mark of 400,000 skilled workers from abroad as quickly as possible," Duerr added.
- American City Business Journals
The space company has 4,000 employees nationwide but none in Colorado right now. The brewery is considering expansion in Texas instead of locally.
- Delmarva Now | The Daily Times
The Biden administration has painted the meat and poultry industry as the villain for the recent rise in prices in grocery stores.
Oil has been rallying to start the year, with no shortage of bullish factors working to lift prices to their highest levels in more than seven years, raising expectations that the per-barrel cost of the commodity will soon reach $100.
As part of an effort to regain its position as a leading maker of semiconductors amidst a global chip shortage, Intel is committing $20 billion to build a manufacturing mega-site in New Albany, on the outskirts of Columbus, Ohio, the company exclusively confirmed to TIME. The chip maker says it will build at least two semiconductor fabrication plants, or fabs, on the 1,000-acre site, where Intel will research, develop, and manufacture its most cutting-edge computer chips, employing at least 3,000 people. Intel’s announcement is the largest private-sector investment in Ohio history and a bright spot in what has been a dismal few decades for manufacturing in Ohio and the Midwest.
- American City Business Journals
The plant's ethane steam cracker, with a capacity to produce 1.8 million metric tons per year of ethylene, is designed to be largest in the world.
- FX Empire
As Bitcoin and Ethereum were down by over 8% on their daily charts as prices fell below crucial support levels, what are the next price levels to watch?