Biden to forgive $7.4 billion in student debt for 277,000 borrowers

U.S. President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House in Washington, D.C., on Aug. 24, 2022. Evan Vucci | AP Here is who benefits from this round of forgiveness In this round of forgiveness, more than 206,000 borrowers will collectively get $3.6 billion in debt erased … Read more

Jamie Dimon warns that inflation, wars and Fed policy pose major threats ahead

JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.  Evelyn Hockstein | Reuters JPMorgan Chase CEO Jamie Dimon warned Friday that multiple challenges, primarily inflation and war, threaten … Read more

Weight loss, diabetes drugs not linked to suicidal thoughts: EU probe

Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024.  Hollie Adams | Reuters European Union drug regulators found no evidence that highly popular weight loss and diabetes drugs such as Wegovy and Ozempic are linked to an increased risk of suicidal thoughts and self-injury, the regulator … Read more

Moderna halts Kenya vaccine plant plans as Covid shot demand plunges

A nurse prepares a dose of Moderna Covid-19 vaccine at Oltepesi Dispensary in Kajiado, Kenya, on September 9, 2021. Patrick Meinhardt | AFP | Getty Images Moderna on Thursday said it has paused plans to build a vaccine manufacturing site in Kenya after a steep drop in demand for its Covid vaccines. The biotech company … Read more

Vinod Khosla calls on Senate to pass bill

Vinod Khosla and Jacob Helberg. Patrick T. Fallon | AFP | Picture Alliance | Getty Images Investor Vinod Khosla and Palantir advisor Jacob Helberg penned an open letter Thursday calling on Senators to pass a bill that would force the divestiture of Bytedance-owned TikTok in the U.S. Describing the social media platform as “a weapon … Read more

Wholesale prices rose 0.2% in March

A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index increased 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% … Read more

Fed wants more confidence that inflation is moving toward 2% target, meeting minutes indicate

Federal Reserve officials at their March meeting expressed concern that inflation wasn’t moving lower quickly enough, though they still expected to cut interest rates at some point this year. At a meeting in which the Federal Open Market Committee again voted to hold short-term borrowing rates steady, policymakers also showed misgivings that inflation, while easing, … Read more

Consumer prices rose 3.5% from a year ago in March

The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon. The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at … Read more

Macy’s settles proxy fight with activist Arkhouse, adds two directors

Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Department store Macy’s on Wednesday said it had settled its proxy fight with an activist group led by Arkhouse Management, and that it would add two new directors to its 15-person board. The reshuffle moves Macy’s closer to a … Read more

Pfizer RSV vaccine may protect high-risk adults ages 18-59

Respiratory syncytial virus – viral vaccine under research Hailshadow | Istock | Getty Images A vaccine from Pfizer showed the potential to protect adults ages 18 to 59 who are at increased risk of getting severely sick from respiratory syncytial virus in a late stage clinical trial, the company said Tuesday. The initial data suggests … Read more