Shutdown ends as controller pay claims challenged

 

The longest US government shutdown ended Wednesday, bringing overdue relief to air traffic controllers who went more than a month unpaid and received two $0 checks since October. Back pay starts Saturday. The shutdown reignited a pay debate after Transportation Secretary Sean Duffy said new hires start at $180,000 and...

AI rally stirs bubble fears and doubts

 

Investors who cheered this year’s AI-fueled market highs are growing uneasy. A sharp Nasdaq slide led by Nvidia and CoreWeave revived comparisons to the dot com era, as gains concentrate in a handful of tech giants now making up a record share of the S&P 500. Some warn of overreliance...

US moves toward steep tariffs on Italian pasta

 

The U.S. Commerce Department’s antidumping review of Italian pasta has triggered a proposed 92% duty on selected makers, atop a 15% Trump-era tariff, for a combined 107%. The probe, sparked by complaints from U.S. brands, targets La Molisana and Garofalo, which officials say impeded analysis, extending duties to 11 others....

JPMorgan strikes paid data deals with fintech

 

JPMorgan Chase has signed paid data-sharing agreements with fintech middlemen covering more than 95% of data requests, including Plaid, Yodlee, Morningstar and Akoya. The bank says the deals will make open banking safer and more sustainable, following weeks of talks after the Trump Administration asked a federal court to vacate...

PepsiCo unveils dyeless Doritos and Cheetos

 

PepsiCo is stripping artificial flavors and dyes from two of its best-known snacks, unveiling new Simply NKD versions of Doritos and Cheetos that are entirely dyeless. The lineup includes Simply NKD Nacho Cheese and Cool Ranch Doritos, plus Simply NKD Puffs and Flamin' Hot Cheetos. CMO Hernan Tantardini said the...

US and Switzerland near tariff cut agreement

 

The United States and Switzerland have essentially reached a trade deal to lower tariffs on Swiss goods from 39% to 15%, US Trade Representative Jamieson Greer said, with details expected Friday. The pending agreement would deliver long-desired relief to Switzerland, which faced the highest levy the Trump administration imposed on...

StubHub shares plunge after first IPO results

 

StubHub shares plunged 20% in extended trading after the ticket vendor posted its first results since its September IPO. The company reported a $4.27 loss per share and $468.1 million in revenue, topping estimates, while a $1.33 billion net loss reflected a one-time $1.4 billion stock-based compensation charge tied to...

Bitcoin dips amid Big Tech AI pullback

 

Bitcoin slipped below $95,000 on Friday, extending a four-day slide amid an AI-linked pullback in Big Tech. The token last traded at $94,896.03, down 3.5%, after briefly reclaiming $107,000 on Tuesday before rolling over. Futures tied to the Nasdaq-100 fell more than 1% premarket, with Meta, Alphabet, Intel, Nvidia and...

Billionaires Drive Surge in Sports Team Investments

 

Sports teams are shifting from trophies to core investments for the ultra-wealthy, a J.P. Morgan Private Bank survey finds. Among 111 billionaire family-office principals polled by its 23 Wall unit, 20% now own controlling stakes, up from 6% in 2022. Thirty-four percent invest in teams or arenas, eclipsing art and...

DR Horton taps Prophetic AI to accelerate housing

 

D.R. Horton, the nation’s largest homebuilder, is turning to Prophetic’s AI to accelerate land acquisition and development amid a housing shortfall. Chronic underbuilding has left an estimated 4 million home deficit and driven prices more than 50% above pre-pandemic levels, while builders struggle with high costs and complex entitlements. Prophetic’s...