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☆ As Social Security faces looming fund depletion, there's fierce debate over whether a commission can help
▼ + stars: | 2024-06-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +9 min

"A vote for a commission is a vote to cut Social Security," the man shouted before he was escorted off the floor. How the last major reforms, in 1983, came togetherPresident Ronald Reagan signs the Social Security Act Amendment into law on April 20, 1983. The changes involved taxes on Social Security benefits, increases to payroll tax rates, a future increase to the retirement age and a near-term postponement of cost-of-living adjustments. Social Security Commission Chairman Alan Greenspan, left, shakes hands with Sen. Charles Grassley, R-Iowa, prior to a Social Security hearing on Feb. 15, 1983. Lawmakers divided on best path forwardToday, lawmakers are divided on the best path forward to address Social Security.

Persons: —, Scott Peters, Peters, Bill Huizenga, Joe Manchin, Mitt Romney, — Rep, John Larson, Connecticut —, It's, " Larson, Larson, Nancy Altman, Ronald Reagan, Alan Greenspan, Greenspan, Jim Baker, Reagan, Tip O'Neill, Robert M, Ball, O'Neill, Sen, Charles Grassley, Bob Dole, John Danforth, Altman, Bruce D, Schobel, Elizabeth Warren, Bernie Sanders, California —, they're, Hakeem Jeffries, Conn, Brian Higgins, Jimmy Gomez, Jeffries, Dan Kildee, Richard Neal, Tom Williams Organizations: iStock, Social, Social Security, AARP, CNBC, Rep, Democratic, Corbis, National Commission, Social Security Reform, Greenspan, Federal Reserve, House, White, Finance, Economic Policy Institute, Republican, Greenspan Commission, Senate Finance, Bettmann, Getty, Congress, Democratic House, White House, Democrats, Security, Capitol Visitor Center, CQ, Inc Locations: Sens, R, Utah, Connecticut, Massachusetts, Iowa, California, D

☆ How the House GOP’s Biden impeachment effort fell apart
▼ + stars: | 2024-04-24 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +14 min

“To me, success is impeachment from the House,” GOP Rep. Brian Mast said. Comer’s co-leads, House Judiciary Chairman Jim Jordan and House Ways and Means Chairman Jason Smith, are also fully behind the work. I don’t think that’s an impeachable offense,” GOP Rep. Jodey Arrington said. Even GOP Rep. Darrell Issa remarked after the first hour of questioning that Hunter Biden was prepared for the interview. There’s an election in seven months from now,” GOP Rep. Nick LaLota, who represents a New York district Biden won in 2020, told CNN.

Persons: James Comer, Joe Biden, –, Comer, Biden, “ Comer, Jesus, Alejandro Mayorkas, Comer –, “, Anna Paulina Luna –, Hunter Biden, it’s, ” Luna, ”, missteps, Brian Mast, Mike Johnson, Comer’s, Jim Jordan, Jason Smith, ” Johnson, Steve Scalise, Elise Stefanik, Kevin McCarthy, ” Bruce Dubinsky, McCarthy, Samuel Corum, Johnson, Jodey Arrington, Darrell Issa, …, Doug LaMalfa, Mayorkas, Tony Gonzales, Austin Scott, ” Comer, Donald Trump, Jordan, doesn’t, There’s, Nick LaLota, Jamie Raskin, Raskin Organizations: Washington CNN —, Republican, CNN, Kentucky Republican, Homeland, Biden, GOP, Republicans, Getty, White, Democratic, ”, Department of Justice Locations: Kentucky, ”, Washington , DC, –, Texas, New York

☆ Wall Street is loving AI while Big Tech is warning employees about how they use it
▼ + stars: | 2024-02-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .

Persons: —, It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago

☆ The hollowing out of Vice and BuzzFeed marks the end of the digital media revolution
▼ + stars: | 2024-02-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The digital media revolution is over. Its two leaders, Vice Media and BuzzFeed , are in a frenetic retreat, surrendering much of their online empires as they try to protect what remains of their core assets. The demise of Vice Media as we know it is a particularly hard pill to swallow. Ahead of the announcement, the mood inside Vice Media was grim. Dixon said in his note that Vice Media had determined it was “no longer cost-effective” for the company to distribute its digital content on its own.

Persons: “, ”, they’re, I’m, Bruce Dixon, Benjamin Mullin, Dixon, Shane Smith Organizations: New York CNN, Vice Media, Media, Big Tech titans, Fortress Investment, Sports Locations: New York

☆ Vice to lay off hundreds of staffers, stop publishing content on its website
▼ + stars: | 2024-02-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Ahead of the announcement Thursday, the mood inside Vice Media was grim. Vice Media, once a high-flying digital media startup valued at billions of dollars, has struggled immensely in recent years. The radical strategic shift announced by Dixon effectively marked the end of Vice Media as the industry has known it. Once held up as the future of the business, Vice Media has rapidly contracted over the last 12 months, ending several news programs and laying off staffers. Vice Media joins a long list of digital publishers that have announced painful layoffs in recent months.

Persons: Bruce Dixon, ” Dixon, Dixon, ”, Shane Smith, Nancy Dubuc, BuzzFeed Organizations: CNN —, Media, CNN, Vice Media, Fortress Investment Group, “ Locations: “

☆ Vice Media will stop publishing on its website and lay off hundreds. Read the memo its CEO sent to staff.
▼ + stars: | 2024-02-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewVice Media is in the process of shutting down its website and shifting focus to its studio, which will involve laying off hundreds, CEO Bruce Dixon wrote in a staff memo Thursday. Vice is also in the process of selling the woman-aimed site Refinery.com, which it acquired in 2019, Dixon wrote. In addition to its flagship Vice.com, Vice Media operates Vice Studios, a film and TV production business; and ad agency Virtue. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously. Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content.

Persons: —, Bruce Dixon, Dixon, Vice.com, Shane Smith, Bruce Organizations: Service, Business, Fortress Investment, Vice Media, Vice Studios, Employees

NEW YORK (AP) — Adele Zerilli Springsteen, the longtime legal secretary, musical muse and concert dance partner who captured countless hearts in her son Bruce Springsteen 's E Street Nation and beyond, has died at 98. Bruce Springsteen announced in an Instagram post that his mother died Wednesday. She was “real smart, real strong, real creative,” with a “refusal to be disheartened,” Bruce told biographer Dave Marsh. Her life had an incredible consistency, work, work, work every day, and I admired that greatly," he told "Uncut" magazine in 2002, praising her “noble” juggling of work and home. E Street Band member Steven Van Zandt tweeted Thursday that Adele Springsteen was the “Matriarch of our family and an unrelenting source of inspiring positive energy.

Persons: — Adele Zerilli Springsteen, Bruce Springsteen, Glenn Miller, Adele Springsteen —, ”, “, Springsteen, —, Bruce Springsteen’s, Zerillis, fathoming, Adele Springsteen's, Adele, Bruce, ” Bruce, Dave Marsh, Ellis, Steven Van Zandt, Adele Springsteen, Bruce's, Douglas, Pamela Springsteen, Virginia, Rhonda Shafner, Dalton Organizations: Smiths, New, Stone, MetLife Locations: American, New York City, Freehold, New Jersey, America, Europe, New, Ellis, Los Angeles

NEW YORK (AP) — Tim Dorsey, a former police and courts newspaper reporter who found lasting fame as the creator of the crime-comedy novel series starring Serge A. Storms, an energetic fan of Florida history and an ingenious serial killer, has died. Dorsey, who published 26 novels, died Sunday, according to Danielle Bartlett, a publicity director at William Morrow, an imprint of HarperCollins. Fans of Dorsey appreciated his clever observations and satirical pokes at the weirdness of Florida. He was part of a trio of former newspapermen from Florida — including Dave Barry and Carl Hiaasen — who found a rich vein of absurdist humor in the state. “It was a privilege and honor to work with Tim Dorsey.

Persons: — Tim Dorsey, Serge A, Dorsey, Danielle Bartlett, William Morrow, Dave Barry, Carl Hiaasen —, Tim Dorsey, Serge, Storms, Emily Krump, Coleman, Florida grifters, ”, “, ’ ”, Bruce DeSilva, Kurt Vonnegut, hasn’t, ” Dorsey, ___ Mark Kennedy Organizations: HarperCollins, Maltese, Torino, The Associated Press, “, Auburn University, The Alabama, The Tampa Tribune Locations: Florida, Tabasco, Indiana, Tribune’s Tallahassee

☆ Vice to end several news shows and lay off dozens of staffers in hollowing out of news division
▼ + stars: | 2023-11-09 | by ( Liam Reilly | ) edition.cnn.com time to read: +2 min

CNN —Vice Media, the one-time digital media darling that has seen its value and influence greatly diminish in recent years, moved on Thursday to further hollow out its once prestigious news division, shutting down several shows and laying off dozens of staffers. “To be clear, Vice News is not going away,” the company’s co-chief executives, Bruce Dixon and Hozefa Lokhandwala, said in a memo to staff obtained by CNN. “Vice will continue to produce digital news, as well as Vice News documentaries, both series and films, for FAST Channels, streaming services and other partners.”In April, Vice Media ended “Vice News Tonight,” its flagship program, citing restructuring that would result in cuts across the organization, CNN previously reported. In June, the digital media company was purchased by three investment companies, including Fortress Investment Group, for $350 million. A person familiar with the matter said “less than 100” staffers would be laid off.

Persons: “, Bruce Dixon, Hozefa Lokhandwala, ”, Dixon, Lokhandwala, CJTtiYXJML —, ” CNN’s Oliver Darcy Organizations: CNN —, Media, CNN, “, FAST, Fortress Investment, Union, Company

Here’s takeaways from Thursday’s first impeachment inquiry hearing:Rep.Jamie Raskin and Oversight Chairman James Comer speak on Capitol Hill in Washington, DC, on Thursday. Conservative law professor Jonathan Turley also said that the House does not yet have evidence to support articles of impeachment against Joe Biden, but argued that House Republicans were justified in opening an impeachment inquiry. Picking witnesses that refute House Republicans arguments for impeachment is mind blowing,” one senior GOP aide told CNN. There’s a shutdown looming.”Rep Jim Jordan delivers remarks during the House Oversight Committee hearing on Capitol Hill on September 28, 2023 in Washington, DC. House Oversight Committee ranking Democratic member Rep. Jamie Raskin speaks on Capitol Hill in Washington, DC, on September 28, 2023.

Persons: Joe Biden, don’t, Hunter, Donald Trump’s, Here’s, Thursday’s, Rep.Jamie Raskin, James Comer, Jonathan Ernst, Biden, Bruce Dubinsky, “, ” Dubinsky, Jonathan Turley, ” Turley, Joe Biden’s, Turley, Trump’s, Ro Khanna, Witnesses, Jacquelyn Martin, ”, Jim Jordan, Drew Angerer, hasn’t, Trump, Hunter Biden, Jamie Raskin, Jim Bourg, Hunter Biden –, Raskin’s, Raskin, ” Raskin, Rudy, Rudy Giuliani, Giuliani, Kweisi, Lev Parnas, Giuliani’s, Parnas, Burisma, Jared Kushner, Hunter Biden’s, Kushner, Biden’s Organizations: CNN — House Republicans, GOP, Conservative, Republicans, CNN, House Republicans, George Washington University Law School, California Democrat, Capitol, ”, Getty, Service, Justice Department, Hunter Biden, Democratic, White, Democrats needled Republicans, AP, Biden, Burisma Holdings Locations: Ukraine, Washington ,, Hunter, California, Washington, Ukrainian, Maryland, Saudi Arabia

☆ House GOP’s impeachment witnesses say there's no evidence yet Joe Biden committed a crime
▼ + stars: | 2023-09-28 | by ( Rebecca Shabad | Dareh Gregorian | ) www.cnbc.com time to read: +5 min

One of the panel's expert witnesses, law professor Jonathan Turley, acknowledged that the evidence Republicans had gathered so far, however, doesn't prove their case. The House Republicans, Raskin said, were acting "like flying monkeys on a mission for the Wicked Witch of the West." The Democrats' witness was Michael J. Gerhardt, a law professor at the University of North Carolina who testified during Trump's first impeachment inquiry. House Republicans have said they are looking into whether Biden improperly aided his son or profited off his business dealings. The White House has repeatedly rejected the House GOP's assertion that Biden abused the power of his office to enrich his family.

Persons: James Comer, Joe Biden, Hunter, Biden, Trump, Comer, Jim Jordan, Jonathan Turley, Jamie Raskin, they've, Donald Trump, Raskin, Turley, Bruce Dubinsky, Eileen O'Connor, Michael J, Gerhardt, Trump's, Bill Clinton's, They've, Ian Sams, Jim Jordan of, Jordan, " Sams, Kevin McCarthy Organizations: House Republican Conference, U.S, Capitol, Republican, Constitution, Republicans, GOP, The House Republicans, George Washington University, House Democrats, Justice Department's Tax, University of North, Democratic, FBI, Justice Department, White, Trump Locations: Ky, Ohio, University of North Carolina, Jim Jordan of Ohio, Kentucky

Output had risen 0.5% in June, and the economy grew 0.2% over the three months to the end of July. The data underlined signs that Britain's economy is weakening, perhaps by more than the Bank of England had expected ahead of its September interest rate meeting. "Either way, it does suggest that higher interest rates and sticky inflation are having a more significant effect on the economy." Unusually wet weather in July hurt output at retailers and in the construction sector, which fell 0.5%, the ONS said. Wednesday's data does not include recent, substantial upward revisions to the performance of Britain's economy up to the end of 2021.

Persons: Toby Melville, Sterling, BoE, Neil Birrell, Samuel Tombs, Andy Bruce, David Milliken, William James, Alison Williams Organizations: St Thomas ' Hospital, REUTERS, LONDON, National Statistics, Bank of England, Premier Miton, ONS, Thomson Locations: St, London, Britain, England

Workers walk through the Canary Wharf financial district, ahead of a Bank of England decision on interest rate changes, in London, Britain, August 3, 2023. The unemployment rate rose, the number of people in work fell sharply and vacancies dipped below 1 million for the first time in two years, the Office for National Statistics (ONS) said on Tuesday. Yet if incoming data doesn't turn definitively, another hike to a terminal rate of 5.75% is absolutely on the table." The unemployment rate rose to 4.3% in the three months to July from 4.2% a month earlier, its highest since the three months to the end of September 2021, the ONS said. Including bonuses, pay rose by 8.5% compared with the 8.2% consensus, boosted in part by backdated pay for healthcare workers.

Persons: Toby Melville, BoE, Hugh Gimber, they've, Andrew Bailey, Jeremy Hunt, Andy Bruce, David Milliken, Sachin Ravikumar, David Holmes Organizations: Bank of, REUTERS, Bank of England, National Statistics, Morgan Asset Management, Thomson Locations: Bank of England, London, Britain

☆ Bruce Davidson Digs Deep and Finds Gems He Had Overlooked
▼ + stars: | 2023-08-24 | by ( Arthur Lubow | ) www.nytimes.com time to read: +1 min

Breathtakingly fast and painstakingly slow: Before the introduction of the digital camera, a photographer worked in those parallel time frames. The click of the shutter was instantaneous, but then the film had to be developed, the contact sheets or color slides reviewed, and the selections made for printing. Pressed for time, a working photographer typically made these decisions hurriedly. Bruce Davidson, who turns 90 next month, has been reviewing his archive for the last eight years. What makes him remarkable is the empathy that won over his subjects and the devoted persistence of his investigations.

Persons: Bruce Davidson, Howard Greenberg, Davidson, Eugène Atget, Henri Cartier, Bresson, Robert Frank, Diane Arbus Organizations: Howard, Howard Greenberg Gallery Locations: New York

Official data on Friday showed the economy grew 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. The strong showing bolstered bets that the BoE would keep on raising interest rates, given the central bank stressed this month that resilience in the economy was one of the factors that would underpin its judgement. The central bank itself had pencilled in growth of 0.1% for the second quarter. "With much of the drag from higher interest rates still to come, we are sticking to our below-consensus forecast that the UK is heading for a mild recession later this year," said economist Ruth Gregory from consultancy Capital Economics. Reporting by Andy Bruce and David Milliken; editing by William James, Kate Holton and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Sterling, BoE, Neil Birrell, Jeremy Hunt, Ruth Gregory, Andy Bruce, David Milliken, William James, Kate Holton, Christina Fincher Organizations: Bank of England, U.S ., Reuters, Bank of, Miton, National Statistics, Manufacturing, Reuters Graphics, Capital Economics, Thomson Locations: Bank of England, Britain, Germany, France, Italy, United States

A Reuters poll of economists had pointed to approvals of 49,000, after 51,143 mortgages were approved in May. The value of net mortgage lending for the second quarter as a whole fell compared with the first quarter - the first quarterly contraction since records began in 1987. The BoE is expected to raise interest rates to 5.25% on Thursday from 5.0%, which would be the highest Bank Rate since 2008. "Looking ahead, growth in households' real disposable incomes will be weighed down by mortgage refinancing," said Samuel Tombs, chief UK economist at consultancy Pantheon Macroeconomics. The BoE reported a 1.661 billion pound ($2.13 billion) monthly increase in net consumer lending June, the largest such increase since April 2018.

Persons: Banks, Liz Truss, BoE, Thomas Pugh, Samuel Tombs, Andy Bruce, David Milliken, Sarah Young, Christina Fincher Organizations: Bank of, RSM, Thomson

☆ Julian Barry, Who Made Lenny Bruce Into ‘Lenny,’ Dies at 92
▼ + stars: | 2023-07-27 | by ( Alex Traub | More About Alex Traub | ) www.nytimes.com time to read: +1 min

Julian Barry, whose scripts for a Broadway play and a Hollywood movie about Lenny Bruce, both titled “Lenny,” became definitive portraits of the comedian as a truth teller who drove himself mad in a righteous struggle against American hypocrisy, was found dead on Tuesday morning at his home in Beverly Hills, Calif. His daughter Julia Barry said he had died overnight in his sleep. He had been receiving medical treatment for congestive heart failure and, in recent weeks, for late-stage kidney disease. Like Marilyn Monroe and John Lennon, Mr. Bruce died young (he was 40) and became a figure of continually renewed pop-culture lore. From 2017 until this year, a fictionalized version of Mr. Bruce was a recurring character on the Amazon Prime television show “The Marvelous Mrs. Maisel.”

Persons: Julian Barry, Lenny Bruce, Lenny, ”, Julia Barry, Marilyn Monroe, John Lennon, Bruce, Maisel Organizations: Amazon Prime Locations: Beverly Hills, Calif

☆ Vice Media, once worth billions, set to be acquired out of bankruptcy by its creditors for $225 million
▼ + stars: | 2023-06-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

CNN —Vice Media, the once-high flying digital media company valued at billions of dollars, is set to be acquired out of bankruptcy by three investment companies, including Fortress Investment Group, for $225 million. Bruce Dixon and Hozefa Lokhandwala, co-chief executives of Vice Media Group, informed staff of the decision in a memo Thursday morning. The acquisition agreement is the latest in a tumultuous period for Vice Media, which was once held up as the future of the business. Vice Media filed for Chapter 11 bankruptcy in mid-May. A person familiar with the matter told CNN that GoDigital was preparing to submit a bid between $300 million and $350 million.

Persons: —, Bruce Dixon, Hozefa Lokhandwala, ” Dixon, Lokhandwala, ”, Shane Smith, Nancy Dubuc, Monroe, GoDigital Organizations: CNN —, Media, Fortress Investment, Soros Fund Management, Monroe, Vice Media, “, Soros, GoDigital Media Group, CNN Locations: Fortress

☆ Vice Media's bankruptcy has 'killed the ad pipeline' for the company, sources say, as questions about its future roil staffers
▼ + stars: | 2023-05-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Vice Media filed for Chapter 11 bankruptcy on May 15, leaving current and laid-off staffers anxious over what's next. One advertising source told Insider, "The bankruptcy has killed the ad pipeline." Employees who were laid off in recent weeks are demanding answers about how the company's bankruptcy will affect the terms of their departure. One of the former execs told Insider they were just keeping their fingers crossed that payments come through. A person close to the company said Vice Media intends to pay severance and COBRA, subject to court approval.

☆ Once valued at nearly $6 billion, Vice files for bankruptcy
▼ + stars: | 2023-05-15 | by ( Claire Atkinson | Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Vice filed for bankruptcy, wiping out equity holders who poured in hundreds of millions, including TPG and James Murdoch. The company filed for Chapter 11 bankruptcy on Monday in New York's Southern District Court. The company's filing listed assets and liabilities in the range of $500 million to $1 billion. Vice had run multiple sales processes with a range of different banks but never received an offer palatable to its owners. The bankruptcy filing reveals just how many companies and investors pinned their hopes on Smith's hype about the potential growth trajectory of the TV and online venture.

☆ Vice Media files for Chapter 11 bankruptcy protection
▼ + stars: | 2023-05-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Vice Media filed for Chapter 11 bankruptcy protection Monday to facilitate a sale of the company, according to court documents and a statement from the struggling media group. The company, which publishes websites such as Vice, Motherboard, made the filing in the Southern District of New York. The sale process would allow other parties to submit “higher or better bids” for the company, it added. “This accelerated court-supervised sale process will strengthen the company and position Vice for long-term growth,” said co-chief executive officers Bruce Dixon and Hozefa Lokhandwala. News of the proposed sale comes weeks after the company announced a major restructuring, canceling its popular program “Vice News Tonight” and cutting dozens of jobs.

☆ Vice Media files for bankruptcy to enable sale to lenders including Soros and Fortress
▼ + stars: | 2023-05-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles. Vice is one of several digital media and technology firms forced to restructure this year amid a sluggish economy and weak advertising market. To facilitate its sale, Vice filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The consortium's bid includes a commitment of $20 million in cash to enable Vice's operations to continue throughout the sale process. Vice Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a statement that the sale process will "strengthen the Company and position VICE for long-term growth."

☆ Vice staffers fear salary and severance payments could be impacted as the company moves closer to bankruptcy
▼ + stars: | 2023-05-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Vice is expected to file for bankruptcy, and some staffers fear salary or severance payments could be affected. The WGA East represents the Vice Union and said it will work to ensure members receive "everything owed." Vice has cut dozens of staff along with canceling its cable show "Vice News Tonight." Last month Vice said it was axing "Vice News Tonight," which once aired on HBO but shifted in 2019 to Vice's own cable channel, Vice TV. A second Vice insider said: "Hundreds of people lose their jobs and Shane gets his back?

☆ Vice Media cancels its flagship ‘Vice News Tonight’ program as it makes ‘painful’ layoffs and restructures the company
▼ + stars: | 2023-04-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

New York CNN —Vice Media will cancel its acclaimed program “Vice News Tonight” as part of a broad restructuring that will result in painful cuts across the organization, the company said Thursday. The restructuring will have major implications on news teams at Vice Media. The company will sunset the Vice World News brand and fold its operations under the Vice News umbrella, giving the company a singular news brand. The restructuring comes as Vice Media, once the darling of the industry, explores a sale. CNN, The Washington Post, NPR, Gannett, Vox Media, NBC News, and others have also cut their workforces in recent months.

Inflation, which hit a 41-year high of 11.1% in October, continued to eat into the spending power of workers whose pay is rising by less. Britain's headline inflation rate is now the highest in western Europe and compares with an average of 6.9% in the euro zone and 5.0% in the United States. Austria recorded a higher inflation rate than Britain in February. Reuters GraphicsPOLITICAL PRESSUREHigh inflation is a problem for Britain's government as well as the BoE, which forecast in February that inflation would be below 4% by the end of the year. Producer price inflation - which measures changes in prices charged and paid by manufacturers and often leads changes in CPI - tumbled in March due to lower oil prices.

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