After decades running one of the most prominent and politically active financial empires, George Soros is handing the reins of his $25 billion Open Society Foundations to his son Alex, the grant-making network confirmed on Monday. The move is another example of succession planning by Wall Street’s old guard. But the changeover is especially notable because it involves the elder […]

Netflix said it would no longer allow people to share passwords. Password sharing was losing the company what was likely to be hundreds of millions of dollars a year worldwide. The new password crackdown in the United States. (These companies have the worst reputations.) One worry Netflix management had was that people would cancel subscriptions because they were losing the […]

Gun control is one of the most divisive political issues in the United States. And in recent years, partisan gridlock on Capitol Hill has precluded any meaningful reform. In the absence of federal legislation, lawmakers in states across the country have implemented measures aimed at reducing the scourge of gun violence to different effect.  State-level laws, designed to keep firearms […]

‘…because it is still legal tender.’ Rama Subramaniam Gandhi, former deputy governor of the Reserve Bank of India, handled the currency management department during the demonetisation exercise of 2016. The introduction of the Rs 2,000 note was a tactical one to remonetise the economy quickly, Gandhi tells Manojit Saha/Business Standard. What could be the reason for withdrawing the Rs 2,000 […]

Saudi Arabia’s announcement of plans for further cut in crude oil output that followed Friday’s strong jobs data from the U.S. renewed rate hike fears ahead of the review by the Fed next week. Markets meanwhile welcomed President Joe Biden officially signing into a law, the bill raising the country’s debt ceiling. European benchmarks are trading mixed. Wall Street Futures […]

In 2013, researchers at Oxford University published a startling number about the future of work: 47 percent of all United States jobs, they estimated, were “at risk” of automation “over some unspecified number of years, perhaps a decade or two.” But a decade later, unemployment in the country is at record low levels. The tsunami of grim headlines back then […]

EXCLUSIVE: The skies are cloudy over LA and still thick over NYC today, but for over 1,000 studio and “struck companies” staffers their Black List membership just went dark. In support of the Writers Guild of America’s over one-month long strike, the Franklin Leonard founded platform has suspended the access that approximately 1,300 have to its services. In addition, the […]

In a ruling on June 1, the U.S. Supreme Court made it easier for companies to sue unions representing their workers. The decision, which favored Washington state concrete company Glacier Northwest over International Brotherhood of Teamsters Local Union No. 174, was seen as a major setback to labor organizing in the United States.   While organizers have won some key victories […]

The Labor Department released its closely watched monthly jobs report on Friday, showing U.S. employment surged by much more than expected in the month of May. The report showed non-farm employment soared by 339,000 jobs in May after spiking by an upwardly revised 294,000 jobs in April. Economists had expected employment to climb by 190,000 jobs compared to the jump […]