The recent collapse of fintech firm Synapse has raised considerable alarm among regulators, primarily due to its negative impact on numerous consumers who found themselves locked out of their accounts. The Federal Deposit Insurance Corporation (FDIC) is responding to this crisis by proposing a new regulation mandating banks to maintain meticulous records pertaining to customers
Business
In a significant development within the automotive industry, the United Auto Workers (UAW) union has taken definitive action against Stellantis by filing federal unfair labor practice charges. Allegations are centered around the automaker’s purported violations of existing contract terms and an attempted relocation of Dodge Durango production outside the United States. This move underscores the
The recent settlement between DirecTV and Disney marks a significant turning point in the relationship between traditional cable providers and content creators. After a notable two-week blackout that deprived DirecTV’s customers of access to ESPN and other beloved Disney channels, the resolution not only reinstates valuable programming but also reflects broader trends in the media
Cancer cachexia is a debilitating condition frequently accompanying cancer, leading to significant weight loss and muscle atrophy. Affecting approximately 9 million individuals globally, this syndrome poses a dire threat to survival, with up to 80% of cancer patients expected to succumb within a year of diagnosis if they develop this complicating condition. The weight loss
The landscape of the aerospace industry is bracing for a significant potential disruption as Boeing workers go to the polls to vote on a new labor contract. This crucial decision, occurring on a Thursday, could lead to a crippling strike by the International Association of Machinists and Aerospace Workers (IAM) if the proposed agreement is
In a striking public feud, Stellantis, the automotive giant born from the merger of Fiat Chrysler and PSA Groupe, faces heightened scrutiny from its own dealer network amidst a backdrop of declining sales and growing public discontent. The criticism is spearheaded by Kevin Farrish, the chair of Stellantis’ U.S. dealer council. In an open letter,
As the excitement from the successful 2024 Olympics and Paralympics in Paris lingers, all eyes are now on Los Angeles as they prepare to host the next summer Games in 2028. Los Angeles Mayor Karen Bass expressed her anxiety about the extensive preparations needed for the event but remains confident that the city will rise
Southwest Airlines made waves on Tuesday with the announcement that Gary Kelly, the executive chairman and former CEO, will be retiring next year. This news comes amidst pressure from activist investor Elliott Investment Management for significant changes within the company. In a letter to shareholders, Kelly expressed the need for change and innovation, stating that
The newly appointed CEO of Starbucks, Brian Niccol, has outlined a plan to prioritize the improvement of the chain’s U.S. business before addressing issues abroad. In an open letter published recently, Niccol acknowledged the shortcomings of the chain, particularly in the U.S. where there have been challenges in delivering a consistent customer experience. He identified
The National Football League (NFL) has made significant strides in expanding its fanbase through strategic streaming deals with various media companies. Hans Schroeder, the NFL’s executive vice president of media distribution, highlighted the league’s commitment to growing its audience during CNBC x Boardroom’s Game Plan sports business event. This push for growth was evident in