The Commodity Futures Trading Commission (CFTC) is stepping in to stop what it calls an “onslaught” of state-level regulation of prediction markets. CFTC Chairman Michael Selig said Tuesday in a video posted on X that the agency has filed a “friend of the court brief” in support of Crypto.com in its escalating legal battle with...
The head of the Justice Department’s antitrust unit said Thursday she is leaving the role, effective immediately, at a critical moment for corporate mergers in America. Gail Slater, the assistant attorney general in charge of the Antitrust Division, wrote on X: ‘It is with great sadness and abiding hope that I leave my role as...
CHICAGO — Cardi B was part of Bad Bunny’s Super Bowl halftime show. What she did exactly, well, that turned into a perplexing question for two major prediction markets. At least one Kalshi trader filed a complaint with the Commodity Futures Trading Commission over how the prediction market handled Sunday’s appearance by the Grammy-winning rapper....
The operator of roughly 180 Eddie Bauer stores across the U.S. and Canada has filed for Chapter 11 bankruptcy protection, blaming declining sales and a litany of other industry headwinds. The bankruptcy filing marks the third time in a little over two decades for the storied-but-now-tired brand that began as a Seattle fishing shop, later...
LOS ANGELES — The world’s biggest social media companies face several landmark trials this year that seek to hold them responsible for harms to children who use their platforms. Opening statements for the first, in Los Angeles County Superior Court, begin this week. Instagram’s parent company Meta and Google’s YouTube will face claims that their...
The U.S. Equal Employment Opportunity Commission said Wednesday that it is investigating Nike for allegedly discriminating against white workers. The agency that polices discrimination in the workplace filed an action in federal court in Missouri to compel the publicly traded athletic shoe and apparel giant to produce information in response to a subpoena the agency...
SpaceX on Monday acquired xAI, the artificial intelligence startup that also owns the X social media platform, in a deal combining two companies owned by Elon Musk. Musk in a news release said that the combination would aim to pursue AI data centers in outer space. The deal comes on the verge of SpaceX’s highly...
Amazon said Wednesday it was slashing another 16,000 jobs across the company in an ongoing bid to restructure the sprawling trillion-dollar firm. ‘The reductions we are making today will impact approximately 16,000 roles across Amazon, and we’re again working hard to support everyone whose role is impacted,’ Beth Galetti, Amazon’s senior vice president of people...
President Donald Trump on Thursday filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, claiming that the bank improperly closed his accounts for political reasons. ‘While we regret President Trump has sued us, we believe the suit has no merit,’ a JPMorgan Chase spokesperson said. ‘We respect the President’s right to...
ROME — Italian fashion designer Valentino Garavani has died, his foundation said Monday. Usually known only by his first name, Valentino was 93, and had retired in 2008. Founder of the eponymous brand, Valentino scaled the heights of haute couture, created a business empire and introduced a new color to the fashion world, the ‘Valentino...