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Business News

Location American Business News for 8 January 2025
$12B casino complex in NY's Hudson Yards rejected by community board: 'Reeks of greed and disregard' Joshua David, co-founder of The High Line and former member of CB4, testified that the project "reeks of greed and disregard for the community."
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Chinese Shares Fall as Semiconductor, Hardware Stocks Weigh

Wall Street Journal - 8 Jan 2025 03:40
Chinese shares were lower, dragged by semiconductor and hardware stocks.
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Outgoing CFTC Chair Urges Stronger Crypto Regulation Amid Mainstream Adoption The departing CFTC Chairman Rostin Behnam is sounding the alarm on the lack of comprehensive regulation of cryptocurrencies in the U.S. Regulatory Gap The outgoing chairman of the Commodity Futures Trading Commission (CF...
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Trump's push for SALT tax reform threatened by hardline GOP budget hawks The path of least resistance could be $5 trillion in new government debt.
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AMD is going head-to-head with Nvidia in AI-backed drug discovery with new deal Chip maker AMD is investing $20 million in AI drug startup Absci, which will use AMD chips and software for drug development.
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Cannabis companies say DEA has closed mind against a less-dangerous pot ranking Advocates accuse Drug Enforcement Administration of blocking the reclassification of cannabis as a Schedule III drug under the Controlled Substances Act.
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Jobless claims fall to a nearly one-year low as Trump set to take office The number of people who applied for unemployment benefits in the first week of the new year fell to an 11-month low, the latest sign layoffs remain extremely low even as businesses cut back on hiring.
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The market's wobbling. Here are BlackRock's shields for the biggest risks. Here are the hedges the $11 trillion asset manager recommends for the concerns weighing on investor minds.
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Fed's Waller backs more rate cuts, says he doesn't think proposed Trump tariffs will spark inflation Federal Reserve Governor Christopher Waller said Wednesday that he doesn't think that proposed import tariffs from the incoming Trump administration will lead to upward pressure on inflation.
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Asian currencies consolidated against the dollar in the early morning session, but may be weighed by expectations of fewer Fed rate cuts.
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Why investors clinging to cash could lose money in U.S. debt-ceiling fight Investors clutching cash might soon bear the brunt of a U.S. debt-ceiling fight, which could boil over in the next few weeks without a resolution.
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Costco's online sales got a boost from a late Thanksgiving Costco Wholesale Corp. on Wednesday reported a 9.9% year-over-year sales gain through the final stretch of the holiday shopping season, marked by a big jump in online sales.
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Liam Payne's cause of death, confirmed as polytrauma, raises questions about how a last-minute hotel room change may have contributed to the tragic incident.
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Waking Up to Los Angeles on Fire

The New Yorker - 8 Jan 2025 23:30
From the daily newsletter: Reporting on the ground in California. Plus: tracking the threats to German democracy; lessons in capitalism from zany YouTubers; and how to sound like Joan Baez.
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Leaked Amazon Web Services org chart shows the 11 executives helping Matt Garman take on cloud and AI competition Garman took the top job at the cloud giant in June. He's made some changes since then, including hiring a new CMO.
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Bitcoin traders set $80K short-term price target as DXY hits new highs Bitcoin sweeps new 2025 lows as Treasury yields rise, and the strengthening US dollar Index forces crypto analysts to revise their short-term price expectations.
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Infinite Reality has raised $3 billion from a private investor, which it plans to put towards expanding its network and product offerings.
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These defense and aerospace stocks may reap the benefits of the hypersonic-missile race Defense company Kratos and subcontractors Rocket Labs and Leidos are involved in a five-year, $1.45 billion U.S. government contract for testing hypersonic missiles.
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Warner Bros. Shuffles Its Executive Ranks

AdWeek - 8 Jan 2025 23:19
Warner Bros. Shuffles Its Executive Ranks Not even the pink aura of Barbie could save the top brass at Warner Bros. Motion Pictures from the effects of the pandemic and the Screen Actors Guild/American Federation of Television and Radio Artists and Writers Guild...
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Cash Warren's Jealousy, 4-Year Breakup with Jessica Alba, and Divorce Rumours: What's Going On? Jessica Alba and Cash Warren have ended their 17-year marriage, following years of ups and downs, including a past breakup due to jealousy and recent signs of a growing rift.
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The Fed's latest meeting minutes showed concern that inflation could remain sticky, partly because of Trump's trade policy.
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Some insurers have scaled back their coverage in California due to wildfires over the last few years, creating a challenge for rebuilding.
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