DIRS.INFO The most relevant business & tech news

☆ These plane crash survivors and victims’ loved ones are becoming scared to fly again after years of travel. They’re not alone
▼ + stars: | 2024-04-06 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +13 min

Others, however, said they are still confident in flight safety, pointing out that commercial air travel remains one of the safest modes of transportation. Cara and Erin Ashcraft survived the crash of American Airlines Flight 1420, operated on a McDonnell Douglas MD-82, during a landing at Little Rock National Airport on June 1, 1999. “I’ve never had concerns (about air travel safety) before. This is the hole left behind when the plug door of an Alaska Airlines flight blew off midflight on January 5, 2024. Pierson is wary of attitudes around the apparent safety of American air travel, he said.

Persons: Barb Handley, –, ” Handley, Handley, ”, ‘, Mary Handley, Alice, Barb Handley Miller, Pat Gabrielse, Dan Handley, Beth Handley McMall, Kathleen Handley Salemi, Cara, Erin Ashcraft, “, I’m, ” Cara, ” Cara Ashcraft, ’, McDonnell Douglas, Andy Scott, “ I’m, ” Erin Ashcraft, ” ‘ I’ve, Trey Smith, “ I’ve, ” Smith, Smith, Scott Kirby, United, Boeing Aubrey, Max, Aubrey, they’re, ” Anthony Brickhouse, Florida’s Embry, Brickhouse, Ed Pierson, Pierson, That’s, ” CNN’s Chris Isidore, Jacopo Prisco Organizations: CNN, Alaska Airlines, United Airlines Boeing, Boeing, –, National Transportation, NTSB, Federal Aviation Administration, United Airlines, American Airlines, McDonnell, Little Rock National Airport, Dallas Morning News, International Air Transport, United, Reuters United, Airbus, “ Airlines, Delta Air Lines, Hawaiian Airlines, Florida’s, Riddle Aeronautical University, Alaska Airlines Max, US Federal Aviation Administration, National Transportation Safety Board, Foundation for Aviation Safety, Air Canada, San Francisco International Airport Locations: Alaska, Little Rock , Arkansas, United States, Virginia, Los Angeles, East, Southwest

☆ Bull market breaks its stride with the S&P 500's first 2% dip in a long while
▼ + stars: | 2024-04-06 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

Was that a change in the market's character last week, or is it still the same old bull? This is generally to the good, as boring markets are bullish markets while they remain that way. Rates and commodities worries Other asset markets have also been at least inviting the question about a potential shift in character. The good news on this, as I keep insisting, is that it hasn't been a truly Fed-driven market. Though it's easy to imagine the market chafing at this kind of higher-rate, higher-growth equilibrium if it continues too much longer.

Persons: Ned Davis, Jerome Powell, hasn't, That's, We're, It's, Andrew Kelly Organizations: Ned Davis Research, Treasury, Fed, Investors Intelligence, Investment, Deutsche Bank ., New York Stock Exchange Locations: New York City, U.S

Traders work on the trading floor at the New York Stock Exchange on April 5, 2024. Stocks rebounded Friday following the Dow Jones Industrial Average 's worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates. The 30-stock Dow climbed 307.06 points, or 0.8%, to settle at 38,904.04. The Dow slid 2.27%, posting its worst weekly performance in 2024. The Dow tumbled about 530 points, or 1.35%, on Thursday, marking its biggest daily drop since March 2023 and its fourth consecutive losing session.

Persons: Stocks, Dow, Nonfarm payrolls, Dow Jones, Jamie Cox, Neel Kashkari Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Treasury, Labor, Federal Reserve, Harris Financial, Minneapolis Federal Locations: Minneapolis

☆ Baltimore bridge collapse reveals a gap in federal government port protection powers
▼ + stars: | 2024-04-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. As the Dali container ship neared the Francis Scott Key Bridge after losing power and with no ability to navigate, there were no tug boats to guide it. It is unclear if the tugs remained with the Dali, a collision could have been averted. But maritime experts say that new tugboat regulation would be a reasonable response for the government to consider. The next day, the Coast Guard referred CNBC to the Joint Information Center (JIC) for the Key Bridge Casualty 2024 incident in Baltimore.

Persons: Dali, Francis Scott Key Organizations: Maersk, Port, Francis Scott Key Bridge, CNBC, Infrastructure Security Agency, Department of Homeland Security, Department of Transportation, U.S . Coast Guard, Coast Guard, Joint Information Center, U.S . Immigration, Customs, . Customs, Border Patrol Locations: Maersk Atlanta, Newark, Newark , New Jersey, US, Port of Baltimore, Baltimore

☆ Summer travel could be extra chaotic as United pilots take unpaid leave and Boeing issues pile up
▼ + stars: | 2024-04-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

United Airlines has asked its pilots to take unpaid leave this summer and possibly into the fall. Across airlines, summer fliers may see disrupted flight schedules and pricier tickets. AdvertisementIn an early blow to summer travel, United Airlines has asked its pilots to take an unpaid leave next month, citing delayed aircraft deliveries from Boeing. Related storiesThe specific changes to United's summer flight lineup were not immediately available. Last week, the US Federal Aviation Administration said it was increasing scrutiny of United to ensure the airline's compliance with safety regulations.

Persons: —, Richard Aboulafia, Scott Kirby Organizations: Airlines, Service, United Airlines, Boeing, CNBC, United, Air Line Pilots Association, Business Insider, Ryanair, Transportation, Southwest Airlines, Alaska Airlines, US Federal Aviation Administration Locations: Frankfurt, Oregon, San Francisco, Japan

☆ Russia is rounding up more journalists a year after the arrest of Evan Gershkovich
▼ + stars: | 2024-03-29 | by ( Radina Gigova | Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Six journalists working for independent media outlets in Russia were arrested in a span of just a few hours this week on the eve of the anniversary of American reporter Evan Gershkovich’s detention in the city of Yekaterinburg. The journalists include Antonina Favorskaya, who covered the late Russian opposition leader Alexey Navalny, Reporters Without Borders (RSF) said Thursday. On Friday, Gershkovich marked the grim milestone of one year in Russian detention. Shortly after his arrest, the Wall Street Journal reporter was charged with espionage — an accusation vehemently denied by Gershkovich, his employer and the US government. APThe six journalists, including Favorskaya, were arrested on Wednesday and Thursday, RSF said.

Persons: Evan Gershkovich’s, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich, Navalny, Alexey Navalny's, RSF, “, ”, Jeanne Cavelier, “ RSF, ” Cavelier, ” RSF, Alexandra Astakhova, Anastasia Musayeva Organizations: London CNN —, Wall Street, US Federal Bureau of, TASS Locations: Russia, Yekaterinburg, Russian, Moscow, Eastern Europe, Central Asia

☆ Owner of ship that crashed into Baltimore bridge will likely try to invoke 1851 law used to cap damages after Titanic disaster
▼ + stars: | 2024-03-28 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

The owner of the ship that crashed into the Baltimore bridge faces a mountain of potential lawsuits. Experts say the owner will likely try to invoke an 1851 law to try to cap potential damages. The Limitation of Liability Act was successfully used by the Titanic owner after the 1912 sinking. "If they're fully successful, it will cap how much they have to pay in damages," Michael Sturley, an expert in maritime law and professor at the University of Texas at Austin's School of Law, told BI. However, I must say that the way things look at present, it seems unlikely that a limitation petition will be successful."

Persons: —, Maryland's Francis Scott Key, Dali, Michael Sturley, Sturley, Michael A, McCoy, it's, Martin Davies, Davies, Gordon Carey —, Carey, It's Organizations: Titanic, Service, University of Texas, Austin's School of Law, Private Ltd, Grace Ocean Private, Business, Washington Post, Wall Street, Titanic Inc, Maritime Law Center, Tulane University School of Law, White Star, Reuters, Synergy Marine Group, Synergy Marine Locations: Baltimore, Singapore, Sri Lanka, Patapsco, United States, , Oregon, Oregon

☆ Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
▼ + stars: | 2024-03-28 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.

Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC

☆ It's March Madness time — and we mean business
▼ + stars: | 2024-03-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we've made a March Madness bracket to decide the biggest topics in business, tech, and innovation, and we need you to vote . [2] Interest rates vs. [7] US-China relations: The biggest question in the market is when the Federal Reserve will lower rates. China doesn't have as direct an impact on US businesses as interest rates, but it's not far behind. Anna Moneymaker/Getty ImagesThe Fed holds the line on interest rates.

Persons: —, Jensen, we've, ya, Kevin Frayer, Chelsea Jia Feng, it's, Elon Musk, Jerome Powell, Anna Moneymaker, he's, Goldman Sachs, Russell Horwitz, hasn't, Greg Doherty, Mustafa Suleyman, Karén Simonyan, Sam Altman, Alex Nabaum, It's, Elon Musk's Neuralink, Noland Arbaugh, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Federal Reserve, EV, Boomers, Fed, UBS, BI, Wall, Variety, New York Stock Exchange, Microsoft, Amazon, FedEx, Nike Locations: China, VCs, Valley, New York, London

☆ WindRunner: Gigantic new aircraft design aims to create the largest plane ever to fly
▼ + stars: | 2024-03-19 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +3 min

Larger wind turbines produce more power than standard ones, but the components are too big to be transported by road. Meet the WindRunner airplane, whose mission will be to deliver gigantic 300-foot-long blades directly to wind farms. So WindRunner will have a cargo bay volume of 272,000 cubic feet, enough to hold three Olympic swimming pools. That’s 12 times the volume of a Boeing 747-400 and – at 356 feet in length, it’s 127 feet longer too. Currently, turbine blades today are ordinarily 230 feet or less (70 meters), but Radia wants to deploy blades of up to 104 meters (341 feet).

Persons: CNN —, Radia, Mark Lundstrum, Energy Ernest Moniz, Malcolm Turnbull, It’s Organizations: CNN, Boeing, FAA, Federal Aviation Administration, Bloomberg, XXL, MIT, Radia, Royce, Energy, Beluga XL, Airbus Locations: Colorado, Ukraine

☆ Japan's central bank just raised interest rates for the first time in 17 years
▼ + stars: | 2024-03-19 | by ( Yuri Kageyama | Associated Press | ) www.businessinsider.com time to read: +4 min

Read previewTOKYO (AP) — Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, "have fulfilled their roles," the bank said in a statement. The Japanese central bank's policy is quite different from those of the US Federal Reserve and the European Central Bank. Analysts expect the Bank of Japan to continue to move slowly on further raising interest rates.

Persons: —, Kazuo Ueda, Haruhiko Kuroda Organizations: Service, Business, Bank of, Bank of Japan, US Federal Reserve, European Central Bank Locations: Japan, Bank of Japan, U.S, China

☆ Live updates: Supreme Court hears arguments for First Amendment cases
▼ + stars: | 2024-03-18 | by ( Dan Berman | Brian Fung | ) edition.cnn.com time to read: +1 min

The US Supreme Court is hearing arguments in a case that will decide whether the Biden administration's communication with social media companies during the Covid-19 pandemic violated free speech. The legal question: Whether the US government unconstitutionally pressured social media platforms into censoring users’ speech — particularly when the government flagged posts to the platforms that it believed violated the companies’ terms of service. How we got here: The states of Missouri and Louisiana, along with five social-media users, brought the lawsuit against various federal officials. In July 2023, a federal judge issued a preliminary injunction ordering federal agencies and more than a dozen top officials not to communicate with social media companies about taking down “content containing protected free speech." The Supreme Court paused that injunction from going into effect in October 2023 until it heard the case.

Persons: Biden Organizations: Biden Locations: Missouri, Louisiana

☆ If Peter Navarro goes to prison, he’ll hear the lions roar
▼ + stars: | 2024-03-18 | by ( Katelyn | ) edition.cnn.com time to read: +5 min

“Not only can you hear the lions … you can hear the lions roar every morning,” said Sam Mangel, Navarro’s prison consultant. Navarro is still appealing, asking the Supreme Court to intervene before he turns himself in on Tuesday morning. Another Trump adviser, Steve Bannon, has also been sentenced to four months in prison for contempt of Congress related to the same investigation, but his prison report date is on hold as he too pursues appeals. Mangel said Navarro will have to take classes and get a job inside the prison. US Federal Bureau of PrisonsDOJ asks Supreme Court to reject Navarro’s last-ditch effortThe Justice Department asked the Supreme Court on Monday to reject Navarro’s last-ditch effort to avoid reporting to prison.

Persons: Peter Navarro –, –, Navarro, “, ”, Sam Mangel, ” Mangel, Steve Bannon, ” Stanley Brand, doesn’t, Mangel, Navarro “ acclimate, He’ll, Navarro’s, Elizabeth Prelogar, meritless ”, ” Prelogar, ” CNN’s Devan Cole Organizations: CNN, Trump White House, White House, of Prisons, Trump, White, Congress, Prisons, US Federal Bureau of Prisons, FCI Miami, US Federal Bureau of, DOJ, Justice Department Locations: Miami, Puerto Rico

☆ Opinion: What Hunter Biden and Donald Trump have in common
▼ + stars: | 2024-03-13 | by ( Opinion Andrey Spektor | ) edition.cnn.com time to read: +9 min

CNN —Hunter Biden won’t be returning to the spotlight next week as the House Oversight Committee had hoped. The problem with the Hunter Biden investigation, though, is not its potential reliance on the word of a compromised informant. And in that sense, Hunter Biden shares something in common with an unlikely person: Trump, at least with respect to his criminal case in New York. Much like the gun charge against Hunter Biden, the tax indictment has left many former federal white-collar prosecutors like me scratching their heads. That doesn’t mean that Trump or Hunter Biden are innocent; indeed, the former has more serious cases to contend with.

Persons: Andrey Spektor, Bryan Cave Leighton Paisner, CNN — Hunter Biden won’t, James Comer’s, Joe Biden, Andrey Spektor Bryan Cave Leighton, Hunter, Alexander Smirnov, Biden, you’ve, Smirnov, Hunter Biden, –, Donald Trump –, that’s, Trump, Hunter Biden’s Organizations: CNN, Republicans, Biden, Republican, Department of Justice Tax, IRS, DOJ’s Locations: New York

☆ Jamie Dimon says the Fed should wait on the rate cuts as its credibility is 'a bit at stake'
▼ + stars: | 2024-03-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

JP Morgan Chase CEO Jamie Dimon said the US Federal Reserve should delay cutting interest rates until the second half of the year. He said the Fed should wait for more data before cutting rates. Despite the market's optimism for a soft landing, Dimon says there's a 65% chance of a recession in the next two years. AdvertisementThe US Federal Reserve should wait until the second half of the year before cutting interest rates, JP Morgan Chase CEO Jamie Dimon said on Tuesday. So, the market is pricing in a 70% to 80% chance of a soft landing.

Persons: Morgan Chase, Jamie Dimon, there's, —, JP Morgan Chase, “, Dimon, ” Organizations: US, Reserve, Service, Federal, Australian Financial, Business

☆ JPMorgan's Dimon urges US Fed to wait past June before cutting rates
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

(Photo by Win McNamee/Getty Images)JPMorgan CEO Jamie Dimon on Tuesday urged the Federal Reserve to wait past June before cutting interest rates, arguing the central bank needs to shore up its inflation-fighting credibility. If I were them, I would wait," Dimon said at the Australian Financial Review business summit via a livestream from New York. I would even wait past June and let it all sort it out." Long a critic of bitcoin, Dimon said a lot of the practical uses for the cryptocurrency were illegal activity like sex trafficking, fraud and terrorism. Dimon also weighed in on artificial intelligence and said JPMorgan had two thousand people working on 400 use cases for the technology at the bank.

Persons: Jamie Dimon, JPMorgan Chase, Win McNamee, Dimon, Long, bitcoin Organizations: JPMorgan, Wall, Federal Reserve, Australian Financial Locations: Hart, Washington ,, New York, U.S, Ukraine, Gaza

☆ Microsoft AI employee warns FTC the company’s Copilot Designer AI tool is prone to creating harmful images
▼ + stars: | 2024-03-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

Shane Jones, a Microsoft principal software engineering lead, claimed that the company’s AI text-to-image generator Copilot Designer has “systemic issues” that cause it to frequently produce potentially offensive or inappropriate images, including sexualized images of women. He said he spent months testing Microsoft’s tool — as well as OpenAI’s DALL-E 3, the technology that Microsoft’s Copilot Designer is built on — and attempted to raise concerns internally before he alerted the FTC. He said he found more than 200 examples of “concerning images” created by Copilot Designer. Jones’ letter comes amid growing concerns that AI image generators — which are increasingly capable of producing convincing, photorealistic images — can cause harm by spreading offensive or misleading images. In his letter to Microsoft’s board of directors, Jones called on the company to take similar action.

Persons: Shane Jones, Jones, ” Jones, Lina Khan, “, OpenAI’s DALL, Microsoft “, OpenAI, Jones ’, Taylor Swift, Gemini, Bob Ferguson Organizations: New, New York CNN, Microsoft, US Federal Trade Commission, FTC, Copilot, Google, Washington, US, Commerce, Science, Transportation Locations: New York, United States, White

☆ The one big thing keeping interest rates high
▼ + stars: | 2024-03-06 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. Rekenthaler called shelter costs the "most relevant data point" in the most recent consumer price index inflation report. Meanwhile, James Bianco, president of Bianco Research, a financial markets research firm, told Business Insider, "Rising shelter costs will cause the Fed to hold off on cutting rates." Anna Moneymaker/Getty ImagesRent and shelter costs tend to lag behind the rest of the economy because rents are typically fixed for long periods. However, Gordon also said shelter costs can't be ignored because of how much it impacts overall inflation.

Persons: —, Jerome Powell, John Rekenthaler, Rekenthaler, Morningstar, James Bianco, Anna Moneymaker, Kevin Gordon, Charles Schwab, Gordon Organizations: Service, Federal Reserve Bank, Business, Morningstar, Fed, Bianco Research, Federal Reserve

☆ Biden to launch joint FTC-DOJ task force to crack down on 'unfair and illegal pricing'
▼ + stars: | 2024-03-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023. Kevin Wurm | ReutersPresident Joe Biden on Tuesday will launch a new task force to take on "unfair and illegal" corporate pricing, which Biden sees as a major reason why consumers are not yet feeling the impact of cooling inflation rates and a strong economy. The task force will be jointly led by the Federal Trade Commission and the Department of Justice, two agencies at the forefront of the Biden administration's aggressive regulatory agenda over the past three years. The announcements and the meeting are part of Biden's ongoing crusade against corporate pricing practices that he claims are unfair. Lael Brainard, vice chair of the US Federal Reserve, speaks during an interview in Washington, DC, on Monday, Nov. 14, 2022.

Persons: Lina Khan, Kevin Wurm, Joe Biden, Biden, Antitrust Jonathan Kanter, Khan, Kanter, Jonathan Kanter, Kevin Dietsch, Lael Brainard, inhalers, Brainard, Andrew Harrer Organizations: Federal Trade, Federal Trade Commission, Capitol, Washington , D.C, Department of Justice, Biden, Force, Antitrust, Justice Department, White, Competition Council, Economic, Consumer Financial, Agriculture Department, US Federal Reserve, Bloomberg, Getty Locations: Washington ,, Washington , DC, U.S

☆ U.S. Treasury yields inch higher ahead of Fed-favored inflation measure
▼ + stars: | 2024-02-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by over one basis point to 4.2915%. The yield on the 2-year Treasury was more than one basis point higher to 4.6643%. U.S. Treasury yields were slightly higher on Thursday as investors awaited the release of the Federal Reserve's preferred inflation measure. Investors looked ahead to the release of the personal consumption expenditures report for January, which could provide clues about the outlook for interest rates. If January's reading comes in higher than expected, markets may take it as a signal that inflation is stickier than previously expected and interest rates could stay elevated for longer.

Persons: Dow Jones, John Williams Organizations: Treasury, U.S, Federal, PCE, New York Federal

☆ Population and economy in South Carolina are booming
▼ + stars: | 2024-02-24 | by ( Tami Luhby | Alicia Wallace | ) edition.cnn.com time to read: +12 min

“And, of course, South Carolina is in the heart of the Southeast.”Job seekers check-in to a job fair at a Schneider Electric manufacturing facility in Hopkins, South Carolina, in January 2023. “You can reach about twice as many people within an 8-hour drive from South Carolina as you can from Florida,” he said. “The housing market and the manufacturing industry, particularly in South Carolina, saw a major increase in demand,” Von Nessen said. South Carolina home sale activity fell by double-digits in 2022 but has since started to stabilize, he said. “We’re just treating so many more patients that we don’t have capacity,” said Thornton Kirby, CEO of the South Carolina Hospital Association.

Persons: ” Joseph Von Nessen, Darla Moore, ” Von Nessen, ”, it’s, It’s, Sean Rayford, Barrie Kirk, “, Von Nessen, Micah Green, “ We’re, Thornton Kirby, Malcolm Isley, “ We’ve, ” Isley, Arnold Kamler, Inc . Kent, Kent, Kamler, Nikki Haley, —, Daniel Slim, Scott Huffmon, Donald Trump, Haley, they’d Organizations: CNN, Palmetto State, of Labor Statistics, University of South, of Business, North, SC Council, Competitiveness, Bureau of Labor Statistics, Labor, Midlands Technical College, Technical College Midlands Technical College, Schneider, Bloomberg, Getty, Census, US Federal Reserve, US News, South Carolina Hospital Association, “, Prisma, Health Prisma Health, Greenville Technical College, Health Center for Health, Life Sciences, Kent International, Walmart, Kent, Inc ., Winthrop University, —, Charleston City Market, Winthrop’s Center, Public, Research, Palmetto, Republican, Trump, CBS Locations: South Carolina, South, “, Carolina, Myrtle Beach , South Carolina, North America, University of South Carolina, West Columbia, United States, Hopkins , South Carolina, Florida, droves, Myrtle Beach, ’, Manning, New York City, Georgia, Charleston, AFP

☆ Opinion: What the AT&T outage reveals
▼ + stars: | 2024-02-23 | by ( Opinion Bob Kolasky | ) edition.cnn.com time to read: +6 min

CNN —The news Thursday morning of the AT&T service outage — affecting tens of thousands, if not hundreds of thousands of customers — was yet another reminder of the importance of critical infrastructure resilience. By a few minutes after 3 pm ET, about 11 hours after customers’ initial reports of the outage, AT&T said it had restored service to all affected customers. For communications, it can be conceptualized in two different ways: What is the scope and scale of the service outage and what are the cascading consequences of the outage? In a connected world, a widespread communications outage can have a contagion effect. Infrastructure outage incidents can’t be addressed by stove-piping information.

Persons: Bob Kolasky, —, it’s Organizations: Infrastructure Security, Risk Management, CNN, Bob Kolasky Department of Homeland, Federal Communications Commission, White, Communications, AT, Rogers Communications, Chinese Communist Party, Telecommunications, Carnegie Endowment, International Peace Locations: Exiger, Canada, France, Paris, Puerto Rico, Southeast, Gulf

US consumers are struggling with soaring credit card debt and rising interest rates. Credit card debt is now at record levels, and interest rates on those cards have soared. AdvertisementOf that total debt, credit card balances are growing the fastest. While this could create a parallel between today's credit card crisis and the mortgage crisis of 15 years ago, there are a few important differences today. AdvertisementStill, the rise in credit card debt and delinquencies could point to cracks in the strength of Americans' spending power.

Persons: Thomas Nitzsche, Gen Z, millennials, Nitzsche, Ginger Chambless, Chambless Organizations: Business, Money Management, MMI, Federal Reserve Bank of New, Federal, JPMorgan Chase, Federal Reserve, Adobe Locations: Federal Reserve Bank of New York, Wells Fargo

CNN —Tens of thousands of Americans had trouble making phone calls, sending texts, reaching emergency services or even accessing the internet on Thursday because of a nearly 12-hour AT&T network outage. The alarm over an outage of a major cell network that at one point affected more than 70,000 customers is understandable. AT&T finally restored wireless service to all customers by around 3 pm ET, and the company said it was “sincerely” sorry to customers. But starting early Thursday morning, thousands of AT&T customers began reporting issues calling, texting and accessing the internet on their mobile devices. At one point, more than 74,000 AT&T customers reported outages on digital-service tracking site DownDetector.

Persons: logins —, hasn’t, John Kirby, ” Kirby, “ Organizations: CNN, Verizon, Mobile, New York Police, Federal Communications Commission, Federal Bureau of Investigation, Department of Homeland Security, Homeland Security Bureau, FCC, FBI, National Security, T, ” Telecom, Dow Jones Locations: United States

☆ Fed's Waller wants more evidence inflation is cooling before cutting interest rates
▼ + stars: | 2024-02-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts. on cutting rates, the central bank official said higher-than-expected inflation readings for January raised questions on where prices are heading and how the Fed should respond. He added that there are few signs inflation will fall below 2% anytime soon based on strong 3.3% annualized growth in gross domestic product and employment, with few signs of a potential recession in sight. "That makes the decision to be patient on beginning to ease policy simpler than it might be," Waller said.

Persons: Christopher Waller, Waller Organizations: US Federal Reserve, Washington , D.C, Federal, Committee Locations: Washington ,, Minneapolis

Search resuls for: "US Fed"

25 mentions found