Gautam Adani’s company loses $50 billion in market value after short seller report

Gautam Adani’s company loses  billion in market value after short seller report

New Delhi CNN — The value of Gautam Adani’s business empire has collapsed by more than $50 billion this week since Hindenburg Research, a US company that makes money from short selling, published a damning report accusing it of fraud. India’s Adani Group has labeled Hindenburg’s allegations as “baseless” and “malicious” and is considering legal … Read more

Southwest posts quarterly losses and warns more losses are ahead following the service collapse

Southwest posts quarterly losses and warns more losses are ahead following the service collapse

New York CNN — Southwest Airlines reported a fourth-quarter loss due to the company’s service collapse during the holiday travel season, and it warned that the cost of these issues will result in another first-quarter loss. The airline had to cancel more than 16,700 flights between Dec. 21 and Dec. 29, about half its schedule … Read more

Mortgage rates are falling ahead of next week’s Fed meeting

Mortgage rates are falling ahead of next week’s Fed meeting

Washington, DC CNN — Mortgage rates fell slightly this week and remained nearly flat ahead of the closely watched Federal Reserve meeting to set interest rates next week. Fixed-rate 30-year mortgages averaged 6.13% in the week ending Jan. 26, up from 6.15% the week before, according to Freddie Mac data released Thursday. A year ago, … Read more

From China to Japan, deadly cold grips East Asia. Experts say it’s the “new normal.”

From China to Japan, deadly cold grips East Asia.  Experts say it’s the “new normal.”

Hong-Kong CNN — A deadly cold snap gripping East Asia has claimed the lives of at least four people in Japan after freezing temperatures and heavy snowfall during the Lunar New Year holiday caused travel chaos, with climate experts warning that such extremes weather conditions had become the “new normal”. Japanese officials said all four … Read more

Iceberg about the size of London breaks off in Antarctica

Iceberg about the size of London breaks off in Antarctica

CNN — An iceberg the size of Greater London broke off the Brunt Ice Shelf in Antarctica on Sunday, according to the British Antarctic Survey. Scientists first discovered significant cracks in the ice shelf a decade ago, but there have been two major breaks in the past two years. The BAS Halley Research Station is … Read more

McDonald’s, In-N-Out and Chipotle are spending millions blocking pay raises for their employees

McDonald’s, In-N-Out and Chipotle are spending millions blocking pay raises for their employees

New York CNN — California voters will decide next year on a referendum that could overturn a groundbreaking new state law that sets working conditions and minimum wages of up to $22 an hour for fast food workers in the nation’s largest state. Chipotle, Starbucks, Chick-fil-A, McDonald’s, In-N-Out Burger and KFC owner Yum! Brands donated … Read more

DRC denies fighter jet violated Rwandan airspace; accuses Rwanda of “act of war”

DRC denies fighter jet violated Rwandan airspace;  accuses Rwanda of “act of war”

CNN — The Democratic Republic of Congo (DRC) on Tuesday denounced Rwanda’s allegation that a Congolese fighter jet had violated Rwandan airspace, claiming the plane was attacked by Rwandan troops in a “deliberate act of aggression amounting to an act of war” . The Rwandan government’s communications office has a pronunciation on Twitter Tuesday stating: … Read more

How M&M’S is making the most of the spokes controversy

How M&M’S is making the most of the spokes controversy

New York CNN — Over the past year, M&Ms have been the subject of Fox News tirades and criticism from a small segment of fans – first for changing the green M&Ms shoes and more recently with female M&M characters on the packaging for International Women’s Day. So this week it announced a change: after … Read more

Boeing is making a big loss

Boeing is making a big loss

New York CNN — Boeing reported a $650 million operating loss in the fourth quarter, surprising Wall Street analysts who had expected the aircraft giant to turn a profit. The company blames the unexpected loss on “abnormal production costs” as it both tried to meet the remaining backlog of 737 Max jets and ramped up … Read more

DOJ is suing Google for its dominance in the online advertising market

DOJ is suing Google for its dominance in the online advertising market

CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance of the online advertising market and calling for its split. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the lawsuit are California, Colorado, … Read more