Workday, a prominent HR software company, is facing a collective action lawsuit in California that could set a crucial precedent on the use of AI in hiring. The legal challenge stems from claims that Workday’s applicant screening technology discriminates against candidates based on age, race, and disability. A federal judge has allowed the case to…
Category: News
Weak Bond Demand and Surging Yields Signal Investor Doubts Over U.S. Debt and Trump Tax Cuts
The US bond market, typically quiet and stable, has recently sent a strong signal to Washington. During a 20-year Treasury bond auction on Wednesday, demand was unusually weak, the lowest since February. Investors who did buy demanded higher yields, signaling concern about lending to the US government. This weak demand suggests bond investors see increased…
FTC Drops PepsiCo Pricing Lawsuit, Fueling Partisan Clash Over Fairness and Corporate Power
The Federal Trade Commission (FTC) has decided to drop a lawsuit filed during the final days of the Biden administration that accused PepsiCo of offering preferential pricing to large retailers. The case faced early opposition from current FTC Chair Andrew Ferguson, who dissented when the lawsuit was initially brought forward in January. Now leading the…
Surging Yields and Credit Spreads Open Rare Bond Opportunities Not Seen Since 2007
Long-term U.S. Treasury yields are approaching their highest levels since before the 2008 financial crisis, offering fixed-income investors a rare opportunity. While rising yields generally result in falling bond prices—something seen in 2022—they also increase the income potential for new bond investments. Alongside the surge in Treasury yields, credit spreads have widened, especially for riskier…
OpenAI Buys Jony Ive’s io for $6.5B, Boosting AI Design Power and Rewarding Early Investors
OpenAI has officially acquired io, the tech design company founded by Jony Ive, in a high-profile all-stock deal valued at $6.5 billion. This strategic acquisition was announced on Wednesday and underscores OpenAI’s commitment to fusing cutting-edge AI technology with world-class design expertise. The acquisition will see io’s shares converted into OpenAI’s for-profit stock, marking a…
Cigna’s Evernorth Caps GLP-1 Drug Costs at $200 to Spur Employer Coverage Uptake
Only about half of health insurer Cigna’s clients currently provide coverage for the high-cost weight loss drugs Wegovy and Zepbound, both of which fall under the GLP-1 class of medications. These drugs have surged in popularity, but their hefty price tags have made many employers hesitant to include them in their insurance plans. In response,…
Outdated FAA Tech Pushes U.S. Air Traffic Control Toward Crisis, CNN Finds
Long before the dramatic communications blackout at Newark Liberty International Airport sparked national attention, air traffic controllers across the United States were already grappling with repeated failures in radar and radio systems. These issues, which have persisted for years, have at times forced controllers and pilots into life-threatening situations, including near-collisions and emergency landings made…
Consumer Backlash Over DEI Rollback Deepens Target’s Sales Decline and Brand Struggles
Target’s sluggish performance in the first quarter of the year is being partially attributed to consumer backlash over the company’s decision to roll back its diversity, equity, and inclusion (DEI) policies. Shares of the retail giant dropped over 7% following a reported 3.8% year-over-year decline in same-store sales, mirroring a similar decline the previous year.…
Markets Tumble as Treasury Auction Miss and Credit Downgrade Undermine Confidence in U.S. Debt
U.S. financial markets faced a sharp selloff on Wednesday amid rising doubts about the strength and stability of American assets. The Dow Jones Industrial Average plunged 817 points (1.91%), while the S&P 500 and Nasdaq Composite fell 1.61% and 1.41%, respectively—marking their worst single-day performance in a month. A disappointing 20-year Treasury note auction triggered…
Moody’s Downgrade Fuels Market Jitters as U.S. Debt Crisis Signals Structural Economic Shift
The United States is facing significant fiscal challenges, marked by rising debt levels and large budget deficits. Moody’s recently downgraded the U.S. credit rating, citing ongoing fiscal imbalances and ballooning interest costs. This triggered renewed selling in both stocks and bonds, highlighting investor concern about the country’s financial trajectory. Analysts like Kathy Jones from Charles…