Business news

• Hackers behind UnitedHealth Group cyberattack reportedly identified

  29-02-2024 23:39 via foxbusiness.com
  
  Hackers that allegedly caused the UnitedHealth Group cyberattack reportedly posted on the dark web that they stole personal data and the records of "millions" of patients.In a now-deleted post, the Blackcat ransomware group – also known as ALPHV or Noberus – said it stole several terabytes of data from UnitedHealth, which includes medical insurance and health data, Reuters reported, citing screenshots of the post.The group has been behind several other ransomware attacks. PHARMA
  
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• Bud Light remains drag on parent company as Dylan Mulvaney hit lingers

  29-02-2024 23:01 via foxbusiness.com
  
  Anheuser-Busch InBev beat sales estimates in its fourth quarter and full year 2023 results released Thursday. But the global beer giant continues to suffer in the U.S. from the boycott against its Bud Light brand nearly a year after entering its controversial partnership with transgender influencer Dylan Mulvaney.A-B reported revenue increased 7.8% last fiscal year, hitting an all-time high, but acknowledged its "full growth potential was constrained by the performance of our U.S. business."The
  
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• Pornhub operator broke federal privacy law, federal watchdog finds

  29-02-2024 21:47 via cbc.ca
  
  The federal privacy watchdog says the operator behind Pornhub and other pornographic sites broke the law by enabling intimate images to be shared on its websites without direct knowledge or consent.
  
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• Oprah Winfrey's departure from WeightWatchers sends stock tumbling

  29-02-2024 21:07 via cbc.ca
  
  Former talk show host Oprah Winfrey is leaving the WeightWatchers board of directors and donating her stock in the weight management firm, the company said Thursday, sending its stock tumbling in early trading.
  
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• Mortgage rates are rising again. See how much money they're costing you

  29-02-2024 20:56 via foxbusiness.com
  
  Mortgage rates jumped to the highest level in two months ahead of the pivotal spring home-buying season, throttling demand among would-be buyers.Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year loan this week rose to 6.94% from 6.9% — the highest level since mid-December. While that is down from a peak of 7.79% in the fall, it remains sharply higher than the pandemic-era lows of just 3%."Mortgage rates continued their ascent this week, reaching a two-month high a
  
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• AMC gives Taylor Swift, Beyonce credit for 'literally all' of its quarterly growth

  29-02-2024 20:46 via foxbusiness.com
  
  AMC Entertainment’s chief executive gave pop stars Taylor Swift and Beyoncé credit for the movie theater operator reporting fourth-quarter gains in its top and bottom lines.CEO Adam Aron said, "literally all of that increase in AMC’s revenue and all of that increase in AMC’s adjusted EBITDA is attributable to our having shown [Swift and Beyoncé’s] two concert movies in our theaters in the U.S. and internationally."The movie theater operator said its fourth-q
  
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• Burger King trolls Wendy's with 'no urge to surge' promo for free Whopper

  29-02-2024 20:21 via foxbusiness.com
  
  Burger King took a shot at fast-food rival Wendy’s after the restaurant chain made news with rumors of controversial "price surging." "The only thing surging at BK is the [flame emoji]. We don't believe in charging people more when they're hungry," Burger King posted Wednesday on X to promote a free Whopper or Impossible Whopper with $3 purchase. The promo is dubbed "no urge to surge" on the company’s website. Dynamic pricing, also known as surge pricing, is when the price
  
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• Fed is ‘stuck’ in Greenspan era, former St. Louis Fed president says

  29-02-2024 20:13 via foxbusiness.com
  
  The Federal Reserve’s preferred inflation gauge is "stuck" in the Alan Greenspan era, according to the former St. Louis Fed president.Former Federal Reserve Bank of St. Louis President and CEO James Bullard explained how Personal Consumption Expenditures (PCE) got its reputation and why it’s here to stay during an appearance on "Cavuto: Coast to Coast" Thursday. "Alan Greenspan in the 90s did a review of all the different ways to measure inflation, and the outcome of that was th
  
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• This week's personal loan rates lower for 3-year loans

  29-02-2024 20:02 via foxbusiness.com
  
  Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year loans and higher for 5-year loans when compared to fixed-rate loans for the seven days before.For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between February 22 and February 28:Personal loans have become a popular way to consolidate debt and pay off credit card debt and other loans. They can also be used to cover un
  
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• Cracked windshield forces American Airlines flight to divert to Boston's Logan Airport: authorities

  29-02-2024 19:58 via foxbusiness.com
  
  A cracked windshield forced an American Airlines flight to divert to Boston’s Logan Airport on Wednesday night, according to officials.American Airlines flight 94 from New York to Madrid landed safely at the Boston airport after experiencing a "maintenance issue," the airline told Fox News Digital in a statement.Massachusetts State Police said the flight was diverted around 9:45 p.m. due to a crack in the plane’s windshield. It was not immediately clear how the crack occurred."It was
  
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• Citigroup to cut nearly 300 jobs amid layoff spree

  29-02-2024 19:54 via foxbusiness.com
  
  Citigroup is cutting nearly 300 workers in New York as it continues its massive layoff spree in an effort to rein in expenses, according to filings with the State Labor Department.  About 239 workers in the primary banking subsidiary, 44 from its broker-dealer unit and three from its technology arm are getting cut, according to Worker Adjustment and Retraining Notification (WARN) notices filed this week.  In early January, the company announced that it was cutting 20,000 roles "over th
  
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• New York AG opens investigation into recent AT&T outage

  29-02-2024 19:31 via foxbusiness.com
  
  New York Attorney General Letitia James announced Thursday that her office is investigating the cause of the recent AT&T wireless network outage and the company's response to the incident that left thousands of consumers without service for hours."Nationwide outages are not just an inconvenience, they can be dangerous, and it’s critical that we protect consumers when an outage occurs," James said in a statement.AT&T customers nationwide were left unable to place calls, send text me
  
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• SEC reportedly investigating OpenAI CEO Sam Altman’s communications

  29-02-2024 19:16 via foxbusiness.com
  
  The Securities and Exchange Commission is reportedly investigating whether investors in artificial intelligence startup OpenAI were misled.The regulator subpoenaed the ChatGPT creator in December, seeking the communications of past and present board members and executives, including those of CEO Sam Altman, The Wall Street Journal reported Thursday, citing people familiar with the matter.An OpenAI spokesperson did not immediately respond to FOX Business' request for comment on the report.REDDIT'
  
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• Woman goes viral claiming Stanley cup saved her from being shot

  29-02-2024 19:11 via foxbusiness.com
  
  A woman took to TikTok to say her Stanley cup saved her life following a shootout outside her home.The woman, identified by the New York Post as 22-year-old Rachel from Steubenville, Ohio, said the popular beverage holder saved her life after a stray bullet shot through her home.She shared an eight-second clip on Feb. 12 that now has over 3.3 million views showing a bullet hole in an interior wall, a scuff on the side of what appears to be a fragrance spray bottle and a beige Stanley cup with so
  
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• FDA chief sounds alarm over sale of fake weight loss drugs circulating online

  29-02-2024 18:59 via foxbusiness.com
  
  GLP-1 agonist drugs are having their moment in the spotlight, but shortages brought on by increased demand are compelling some users to look for quick alternatives that have U.S. Food and Drug Administration (FDA) Commissioner Dr. Robert Califf a bit concerned.Compounded versions of the drugs – which combine a medication with other ingredients thought to be safe for use – are sold "without proper controls to ensure they [consumers] get the right active drug," Califf told Reuters, but
  
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• Mortgage rates climb for fourth straight week

  29-02-2024 18:37 via foxbusiness.com
  
  Mortgage rates continue to march higher, climbing again for the fourth consecutive week.Freddie Mac's latest Primary Mortgage Market Survey released Thursday showed that the average rate on the benchmark 30-year fixed mortgage climbed to 6.94% this week, up from 6.90% last week. The average rate on a 30-year loan was 6.65% a year ago.But the average rate on the 15-year fixed mortgage fell a bit to 6.26% after coming in last week at 6.29%. One year ago, the rate on the 15-year fixed note averaged
  
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• Newsom sparks outrage over minimum wage exemption benefiting donor, critics demand probe: 'Crooked deal'

  29-02-2024 18:07 via foxbusiness.com
  
  Democratic California Gov. Gavin Newsom has sparked outrage and calls for an investigation from Republican lawmakers after allowing an odd exemption to the state's $20 minimum wage law that benefits one of his donors.Newsom reportedly pushed for an exemption that allows restaurants baking and selling bread as a standalone item to continue paying its employees the current rate of $16 an hour. The peculiar carve-out means billionaire Greg Flynn, a longtime Newsom donor, could save hundre
  
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• Credit card interest rates predicted to fall, but debt remains high

  29-02-2024 17:41 via foxbusiness.com
  
  Predictions abound for credit card interest rates in the coming months. Like many interest rates, it's likely credit card interest rates will drop if the Fed starts cutting rates.Credit card APRs have risen steadily for the last 22 months, landing at 22.75% in November 2023, Federal Reserve data showed. Rising rates were largely attributed to the Fed’s frequent rate hikes throughout the year.Rates aren’t expected to drop by much, especially compared to how much they’ve increase
  
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• Biden administration to review national security, privacy and remote sabotage risks from Chinese 'smart cars'

  29-02-2024 17:21 via foxbusiness.com
  
  The Biden administration has announced that it will launch a government probe into "smart cars" made in China that can gather data about Americans and even be disabled remotely. "The probe could lead to new regulations aimed at preventing China from using sophisticated technology in electric cars and other so-called connected vehicles to track drivers and their personal information," AP News reported Thursday. "Officials are concerned that features such as driver assistance technology could
  
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• Jobless claims jumped more than expected last week

  29-02-2024 17:10 via foxbusiness.com
  
  The number of Americans filing for unemployment benefits rose more than expected last week as high-profile companies continue to announce major job cuts.Figures released Thursday by the Labor Department show initial claims for the week ending Feb. 24 jumped by 13,000 to 215,000, above the 210,00 estimate by Refinitiv economists. However, that is slightly below the 2019 pre-pandemic average of 218,000 claims.Continuing claims, filed by Americans who are consecutively receiving unemployment benefi
  
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• Canadian economy not in recession, but 2023 was one of its weakest recent years

  29-02-2024 16:46 via cbc.ca
  
  The Canadian economy expanded at an annualized rate of one per cent in the fourth quarter as high interest rates weighed on growth, but not enough to push the economy into a recession.
  
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• Oprah Winfrey leaving WeightWatchers board, shares drop

  29-02-2024 16:29 via foxbusiness.com
  
  Oprah Winfrey is leaving the WeightWatchers board.The move comes after the talk show host said last year that she uses prescription medication to manage her weight.The details, disclosed in a filing with the Securities and Exchange Commission, said that Winfrey notified the chairman of WW International Inc.'s board of directors "that she would not be standing for re-election as a member of the Board at the Company's 2024 annual meeting of shareholders," which is currently slated for May 9.Shares
  
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• Americans want businesses to stop getting political: study

  29-02-2024 14:00 via foxbusiness.com
  
  A new study finds that Americans want businesses to be more neutral in taking political stances in the public sphere and in the workplace.The study found that overwhelming majorities of consumers and employees said they expect political neutrality in the workplace, with 72% of consumers and 71% of employees saying the workplace should be politically neutral. Further, it found that 70% of consumers and 68% of employees expect companies to respect and welcome all political affiliations &mdash
  
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• McCarthy details what Biden's really like behind closed doors: 'Sticks to the cards'

  29-02-2024 13:13 via foxbusiness.com
  
  Former House Speaker Kevin McCarthy revealed for the first time on Wednesday that President Biden uses notecards in private meetings with small groups of people."He still has a teleprompter when you meet behind closed doors," McCarthy told the "Bottom Line" co-hosts on FOX Business. "But the teleprompter are cards. I found when I met with him, it would just be a couple of them. He would read from the card."McCarthy said that it was difficult to "deviate" from Biden during private negotiations, r
  
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