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Business News

Location American Business News for 17 March 2023

Daily Cartoon: Friday, March 17th

The New Yorker - 17 Mar 2023 18:34
Daily Cartoon: Friday, March 17th "Honey, why is the toaster trying to convince me that all this new A.I. stuff is nothing to worry about?"
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Former staffers in a group called "Laid off on Leave" say Google isn't compensating them for approved paid time off after the abrupt January layoffs.
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When a Swimming Pool Turns Into a Tax Deduction

Wall Street Journal - 17 Mar 2023 11:30
It's rare for taxpayers to deduct medical expenses, as the bills usually need to be quite high. Still, some who qualify may not be aware of it--or of the wide array of deductible expenses.
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Silicon Valley and Capitol Hill Build an Anti-China Alliance

Wall Street Journal - 17 Mar 2023 11:30
Silicon Valley and Capitol Hill Build an Anti-China Alliance A group of tech executives and lawmakers will meet for a private dinner ahead of TikTok's testimony before Congress.
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Ignorance Really Is Bliss When it Comes to Investing

Wall Street Journal - 17 Mar 2023 11:30
Investors have more information than ever and it not only isn't helping--it's hurting. Here's the fascinating reason why.
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US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took ...
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European Commissioner Says Impact of SVB Collapse 'Limited' as Credit Suisse Drags Down Banking Stocks Silicon Valley Bank’s (SVB) collapse has had a “limited impact” on the European Union but authorities must still “stay alert” to events as they unfold, European Commissioner Mairead McGuinness has said. Despite...
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FedEx Raises Earnings Outlook Despite Shipping Slowdown

Wall Street Journal - 17 Mar 2023 00:27
FedEx Raises Earnings Outlook Despite Shipping Slowdown Shares rose as the delivery company lifted its profit outlook amid ongoing cost cuts.
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FedEx hiked its 2023 earnings forecast on Thursday, citing cost-cutting measures that offset continued demand weakness.
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ChatGPT creator Sam Altman 'a little bit scared' of his creation When pressed about why he was "scared" of his company's creation, Altman argued that if he wasn't "scared" then "you should either not trust me or be very unhappy that I'm in this job."
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Too Much Data, Too Few Skills. To Achieve Personalization, There Is Another Way Recent research from Braze highlights the two biggest issues facing marketers in their quest to deliver personalized customer experiences. To overcome these challenges a different approach is required.
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Markets are wrong for thinking SVB's fallout and rescue could lead to economic doom and gloom, top economist Paul Krugman said.
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Dozens Of Mar-A-Lago Staffers Subpoenaed In Trump Special Counsel Investigation, Report Says Dozens of Mar-A-Lago staffers ranging from restaurant servers to former President Donald Trump's close aides have been subpoenaed in special counsel Jack Smith's investigation into Trump's handling of classified document...
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The author of a book on the decline of the baby boom talks about on the waning power of the post-World War II generation.
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Ford recalls 1.5M vehicles to fix brake hoses, wiper arms

Chicago Tribune - 17 Mar 2023 14:38
Ford recalls 1.5M vehicles to fix brake hoses, wiper arms Ford is recalling more than 1.5 million vehicles in the U.S. in two actions to fix leaky brake hoses and windshield wiper arms that can break.
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Silicon Valley Bank's Parent Company Files for Bankruptcy

The New York Times - 17 Mar 2023 14:31
Silicon Valley Bank's Parent Company Files for Bankruptcy The move would place SVB Financial Group, which owns other businesses aside from the collapsed Silicon Valley Bank, into a court-led process as creditors look to recover funds.
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Two train derailments in US raise rail safety concerns - video report Two BNSF trains derailed in separate incidents in Arizona andWashington stateon Thursday, with the latter spilling diesel fuel on tribal land along Puget Sound. The derailments came amid heightened attention to rail safe...
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Will Americans end up footing the bill for bank failures?

Chicago Tribune - 17 Mar 2023 14:24
Will Americans end up footing the bill for bank failures? Here are some questions and answers about the cost of the bank collapses.
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Private equity suitors go fishing for £400m tinned tuna group Princes A pack of private equity suitors is circling Princes Foods, the Japanese-owned company which makes dozens of tinned products stocked in British supermarkets.
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The Times podcast: Silicon Valley Bank's collapse may affect your interest rate When inflation is high, the Federal Reserve has historically raised interest rates. But in times of economic uncertainty and risky banking practices, raising rates could cause an overcorrection -- and spark a recession.
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Markets Worry First Republic and Other Banks Remain Under Pressure The nation's top lenders banded together to rescue First Republic Bank. But markets worry that regional institutions remain under pressure.
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The government's response to the failure of two large banks has already involved hundreds of billions of dollars.
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