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Morgan Lieberman/Bloomberg via Getty Images (LOS ANGELES) — Shares of PacWest Bancorp plunged more than 50% in early trading on Thursday, marking the latest spasm of financial distress after three of the nation’s 30-largest banks fell within a matter of weeks. In all, PacWest stock has fallen more than 85% this year, erasing hundreds of […]
Westend61/Getty Images (WASHINGTON) — The Biden administration will support public assessments of generative AI systems like ChatGPT to educate the public about whether these new systems align with the administration’s “bill of rights” for AI that’s aimed at preventing the new technology’s misuse, The White House announced early on Thursday. These assessments will take place […]
ermingut/Getty Images (NEW YORK) — The U.S. Department of Labor (DOL) fined three McDonald’s franchisees after an investigation determined that hundreds of children — including two 10-year-olds — were working there in violation of federal labor law. The investigation was part of the Wage and Hour Division’s efforts to end child labor abuses in the […]
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Anna Moneymaker/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday raised its short-term borrowing rate another 0.25%, escalating the central bank’s attack on inflation just two days after the forced sale of First Republic Bank. The Fed’s 10th consecutive rate increase arrives less than a week after fresh government data showed that U.S. economic growth slowed […]
Pavlo Gonchar/SOPA Images/LightRocket via Getty Images (NEW YORK) — Major changes at Twitter under CEO Elon Musk in recent months have elicited some calls for an alternative platform. One such app, Bluesky Social, has drawn attention as a possible Twitter rival and amassed a waitlist of aspiring users. Launched by former Twitter CEO Jack Dorsey, Bluesky […]
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Tetra Images/Getty Images (WASHINGTON) — Millions of Americans who rely on federal payments to make ends meet, could be negatively impacted if the government is unable to pay its bills come June 1. If allowed to happen, economists agree the first debt default in U.S. history would be an economic catastrophe and could trigger a global financial crisis. […]
Narisara Nami/Getty Images (NEW YORK) — In a sea of quality job candidates, you need to make sure your resume is up to snuff and easily skimmable for recruiters to quickly decide to pull yours from the pile. It can take just six seconds to make an impression with your resume, according to The Wall […]
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