Edgar Bronfman Jr.’s offer for a controlling stake in Paramount Global could keep Shari Redstone close to the company, if his bid is successful. Bronfman is open to having Redstone, currently non-executive chairman at Paramount, remain involved…
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Business
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Microsoft said Friday it will hold a conference in September for cybersecurity firms to discuss ways the industry can evolve following a faulty CrowdStrike software update that caused millions of Windows computers to crash in July. The incident…
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Business
How investors can prepare for lower interest rates: It’s ‘like getting a haircut,’ advisor says
Federal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September,…
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Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. At a speech during…
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The Department of Justice and eight states on Friday accused software company RealPage of unlawfully scheming to undermine competition among landlords and create a monopoly that harms millions of renters. RealPage “allows landlords to manipulate, distort, and…
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Business
Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
DETROIT — Ford Motor’s profit engine for decades has been large trucks and SUVs in the U.S. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first…
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The future of Paramount Global is still uncertain. Paramount’s special committee on Wednesday said it would extend by 15 days an agreed-upon “go shop” period of its merger agreement with Skydance as it reviews a competing offer from Edgar…
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Business
Walz’s family relied on Social Security when his father died. Many don’t know kids are eligible for benefits.
Minnesota Gov. Tim Walz accepted the Democratic vice presidential nomination at the Democratic National Convention on Wednesday night. In his speech, Walz credited a particular source of support for helping to get his family to where they…
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Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September. Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave…
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Peloton on Thursday said it will start charging new subscribers a one-time $95 activation fee if they bought their hardware on the secondary market as more consumers snag lightly used equipment for a fraction of the typical retail…