By Nathalie Voit Consumer borrowing in June surged to its second-highest level ever, data released on Aug. 5 from the Federal Reserve showed. Total consumer debt ballooned by $40.2 billion over the month from a revised $23.8 billion in May, according to the Fed’s G.19 consumer credit report. In percentage terms, borrowing rose by 10.5% in [...]
By Nathalie Voit A vulnerability on Twitter left 5.4 million Twitter accounts exposed to malicious actors, BleepingComputer reported on August 5. The now patched zero-day exploit occurred in December 2021 after an update to Twitter's code that summer left its systems vulnerable, Twitter disclosed on Friday. "In January 2022, we received a report through our bug bounty program of [...]
By Nathalie Voit Amazon will acquire Roomba maker iRobot for $1.7 billion, both companies said in a joint statement. Amazon will purchase the innovative home robotics company for $61 a share, a 22% premium over its last closing price of $49.99 on August 5. The all-cash deal is valued at roughly $1.7 billion. The definitive merger [...]
By Nathalie Voit American Airlines will trim 2% of its flight schedule in September and October amid ongoing staffing struggles, according to a statement issued by the company. “American has taken steps to size our airline for the resources we have available and to build additional buffer into the remainder of our summer schedule,” AA [...]
By Nathalie Voit CVS Health plans to enter into the primary care field with the addition of doctor offices and other primary care services, CEO Karen Lynch revealed on the company's second-quarter earnings call. According to a transcript of the call released on August 3, the drugstore chain has a long-term strategy to improve its health offerings [...]
By Nathalie Voit An ex-Fed insider told CNN a full-blown recession is "almost certainly" coming. "Almost certainly there will be a full-blown recession. If we're not in one yet, I think we will be in the next 12 months," the former head of the New York Federal Reserve, Bill Dudley, told the news outlet in a phone [...]
By Nathalie Voit The Biden administration declared monkeypox a public health emergency on August 4. "We are prepared to take our response to the next level in addressing this virus and we urge every American to take monkeypox seriously," Health and Human Services (HHS) Secretary Xavier Becerra told reporters during a press conference on Thursday. According to [...]
By Nathalie Voit The latest scam? Impersonating an FTC Commissioner. In a consumer alert posted to its website on Aug. 4, the Federal Trade Commission (FTC) warned the general public that con artists are pretending to be officials from the FTC. The consumer protection agency said scammers have been posing as Commissioner Alvaro Bedoya from the FTC, [...]
By Nathalie Voit Amazon is rolling out a first-of-its-kind same-day delivery option for Prime members, according to a news release published by the e-commerce giant on August 1. As soon as today, Prime customers can shop their favorite retail brands on the Amazon app and Amazon.com and have their purchases delivered to their house on the same day. Same-day [...]
By Nathalie Voit The world’s oil cartel and its allies agreed to slightly boost crude oil output next month following a much-awaited meeting on Aug. 3. According to details of the 31st OPEC and non-OPEC Ministerial Meeting, which was held via videoconference, the 13-member organization and its 10 oil-exporting partners (also known as OPEC+), led by [...]
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