Tuesday, July 5, 2022

Business

Tesla’s 2Q Sales Drop Amid Supply Chain, Pandemic Problems

DETROIT (AP) — Tesla's sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled producti...

Key Inflation Gauge Remains A High 6.3%

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WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April. Thursday's repor...

Powell: ‘No Guarantee’ Fed Can Tame Inflation, Spare Jobs

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WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday...

Employee Mistakenly Gets Paid 330X his Monthly Salary, then Resigns and Disappears

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CHILE (VINnews) — An employee got a massive bonus from his work…albeit by mistake. Now that man has vanished, along with the cash. The worker at a company in Chile which makes c...

US Consumer Confidence Slumps To Lowest Level In 16 Months

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WASHINGTON (AP) — U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they've been ...

Netflix Co-Founder Helps Direct Startups Amid Tech Turmoil

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SANTA CRUZ, Calif. (AP) — Longtime Netflix CEO Reed Hastings is renowned for building a video streaming service that has transformed entertainment, but it probably wouldn't have ha...

Greedflation: Is Price-Gouging Helping Fuel High Inflation?

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WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentl...

The Frum City Lawyer and Her Scare

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by Rabbi Yair Hoffman for 5tjt.com Sara’s lifelong dream was to help people and to protect children.  She became a lawyer for Child and Family Services.  She had tried hundreds ...

Instagram Tests Using AI, Other Tools For Age Verification

Instagram is testing new ways to verify the age of people using its service, including a face-scanning artificial intelligence tool, having mutual friends verify their age or uploa...

Yelp Closes Three US Offices, Says Remote Work Is Its Future

Yelp is closing three of its U.S. offices after finding most of its employees prefer to work remotely. In a blog post Thursday, Yelp Co-Founder and CEO Jeremy Stoppelman said th...

Lakewood’s “Sary Wigs” Closes Instagram Account ‘To Make Space for Something Higher’

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LAKEWOOD (VINnews) — Shaindy Braun has decided to close her "Sary Wigs" Instagram page, which has over 40,000 followers. She wrote one final post, including this excerpt: "I am ...

Biden To Call For 3-Month Suspension Of Gas And Diesel Taxes

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WASHINGTON (AP) — President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — a move meant to ease financial pressures at...

Crypto Investors’ Hot Streak Ends As Harsh ‘Winter’ Descends

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NEW YORK (AP) — The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold. As prices plunge, companies collapse and skepticism soars, fort...

Yellen: Recession Not Inevitable, Gas Tax Holiday Weighed

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REHOBOTH BEACH, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable. Ye...

US Financial Markets Will Be Closed Monday For Juneteenth

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NEW YORK (AP) — U.S. financial markets will observe the Juneteenth holiday for the first time on Monday. Last year, Juneteenth was designated a federal holiday to mark the effec...

Bitcoin Drops Below $20,000 As Crypto Selloff Quickens

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NEW YORK (AP) — Bitcoin fell below the psychologically important threshold of $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurr...

Court: Amazon Customers Can Sue Over Lack Of Toxic Warnings

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SAN FRANCISCO (AP) — The California Supreme Court on Wednesday left intact a ruling that allows customers to sue Amazon.com for failing to warn buyers that some products it sells m...

Cosmetics Giant Revlon Files For Chapter 11 Bankruptcy

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NEW YORK (AP) — Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection, weighed down by debt load, disruptions to its supply chain net...

Mortgage Rates Explode By Most In 35 Years

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WASHINGTON (AP) — Average long-term U.S. mortgage rates made their biggest one-week jump in 35 years, one day after the Federal Reserve raised its key rate by three-quarters of a p...

WhatsApp’s Reclusive Founder Has Quietly Become A Megadonor To Jewish Causes

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NEW YORK (JTA) -  The fighting in Ukraine has been called “a WhatsApp war” amid widespread reliance on messaging apps by journalists, soldiers and ordinary civilians, and their cen...