Ariel Zilber

Price of oil over $90 a barrel for first time

The price of oil surpassed $90 a barrel on Wednesday — its highest mark in eight years as limited supply coupled with the prospect of a Russian invasion of Ukraine sent energy prices soaring. Brent crude futures, the international benchmark, rose by more than 2% to $90.07 while US benchmark West Texas Intermediate crude futures […]Read More

Gates Foundation adds ‘independent voices’ to board in wake of

The Gates Foundation said Wednesday it would add four new board members to bring “independent voices” after last year’s much-publicized divorce of Bill and Melinda French Gates threatened to hamper the nonprofit’s work. The Seattle-based foundation said its expanded roster of trustees would include Zimbabwean telecom billionaire Strive Masiyiwa; London School of Economics Director Baroness […]Read More

IMF slashes global growth forecast due to Omicron, inflation

The International Monetary Fund cut its global growth forecast for 2022 due to slowing economic recovery in the US and China as well as the rise in COVID-19 cases and lingering disruptions in the supply chain. Global GDP, which reached 5.9% last year, has been revised downward to 4.4% this year, the IMF said in […]Read More

Mortgage rates rise to highest levels since start of pandemic

People signing papers for a new home loan will pay the highest interest rates since the start of the pandemic, according to new data released by the feds. Mortgage rates for the typical 30-year loan have climbed to their steepest levels since early 2020 as the housing market looks to expected Federal Reserve rate hikes. […]Read More

American Airlines lost nearly $1 billion last quarter due to

American Airlines lost $931 million in the fourth quarter of 2021 as the rapid spread of the Omicron variant delayed the industry’s recovery from the pandemic. The country’s largest carrier reported revenue of $9.43 billion in the fourth quarter — which was down from $11.3 billion in the same quarter of 2019. The airline expects […]Read More

Starbucks nixes employee vaccine mandate after Supreme Court ruling

Starbucks will not require its US-based employees to be vaccinated against COVID-19, just days after the Supreme Court struck down the Biden administration’s vaccine mandate for companies with more than 100 workers. The Seattle-based coffee chain, which employs some 228,000 workers in 8,000 stores in the US, had imposed a vaccine mandate in line with […]Read More

Embattled Activision-Blizzard CEO to get $390M payout in Microsoft deal

Activision-Blizzard CEO Bobby Kotick will walk away with a $390 million check as a result of Microsoft’s acquisition of his gaming company — just two months after employees demanded his firing over the firm’s alleged culture of sexual misconduct. Kotick, 58, who is expected to leave Activision-Blizzard after the deal is completed sometime next year, […]Read More

Facebook and Google accused of ‘secret deal’ to carve up

Facebook boss Mark Zuckerberg and his counterpart at Google, CEO Sundar Pichai, secretly struck a deal in 2018 to carve up the digital advertising market between the two tech giants, according to newly revealed allegations from top state law-enforcement officials. Previously, it was reported that the deal was signed by Zuckerberg’s No. 2, Facebook COO […]Read More

CES conference debuts new gadgets to smaller crowds amid COVID

A wireless vest that connects people to the metaverse, an augmented reality chair that allows people to shop for makeup and eyeliner, and a human-like AI-powered robot will be among the top gadgets unveiled at this week’s CES Conference in Las Vegas. More than 2,200 exhibitions will be shown at the much-anticipated three-day event starting […]Read More