Janet Yellen is once again on thin ice inside the Biden Administration over her bungling of the banking crisis that keeps roiling markets, The Post has learned. The question is when will Sleepy Joe & Co. finally act? They need to put Yellen out of her misery and end ours by handing her job to … Read more
A US judge on Friday ordered former Goldman Sachs banker Roger Ng to forfeit $35.1 million, after sentencing him to 10 years in prison for helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. US District Judge Margo Brodie in Brooklyn rejected Ng’s argument that he owned no more money after forfeiting to Malaysia tens of millions of dollars of alleged … Read more
St. Louis Federal Reserve president James Bullard said Friday the US likely will need higher than expected interest rates to contain inflation as the economy remains strong and stress in the banking sector likely eases. St. Louis Fed President James Bullard expects a range between 5.5% and 5.75% this year, a quarter point higher than he projected.REUTERS … Read more
TikTok CEO Shou Zi Chew’s testimony on Capitol Hill was a ‘disaster moment’ for the company that will likely increase calls for a sale or outright ban of the problematic platform, Wall Street analysts predicted. Chew routinely angered lawmakers with evasive or unclear testimony during a closely-watched House hearing on Thursday — which included damning … Read more
Shares of Deutsche Bank tumbled as much as 13% on Friday after the German lender learned it would have to pay higher rates to insure its bondholders against default. Deutsche Bank’s stock is poised to drop for a third consecutive day as concerns abound over the stability of the global banking system following the recent … Read more
Customers who bemoaned the loss of McDonald’s beloved Snack Wraps in 2016 will soon be able to sate their cravings at a competitor. Beginning Tuesday, Wendy’s is launching a Grilled Chicken Ranch Wrap as a lighter menu option for those looking for a new snack obsession. The tortilla wrap comes with diced grilled chicken, shredded cheddar cheese, … Read more
Hyundai and Kia warned hundreds of thousands of car owners to park their rides outside and away from structures over fears the vehicles could catch fire. The recall of 571,000 SUVs and minivans across the United States comes after the Korean carmakers issued similar recalls just a year ago. The Hyundai company logo is displayed … Read more
If at first you don’t succeed, submit it to the Museum of Failure. A brand-new gallery dedicated to retail objects that have bombed commercially opened earlier this month in Brooklyn’s Industry City complex. The Museum of Failure collects “failed products and services from around the world,” according to its website, offering what it calls a … Read more
Starbucks’ new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company’s stores in an effort to stay close to its culture and customers. Narasimhan, who took the reins as CEO earlier this week, said in a letter to Starbucks’ employees Thursday that he also expects the … Read more
Dust off your VCR — Blockbuster could be making a comeback. Fans are speculating the nearly extinct video rental company is returning after its website recently became active, announcing in a cliffhanger, “We are working on rewinding your movie.” While there is no clear indication of when the Blockbuster site was activated, the company remains … Read more