Democrats: Trump companies got millions from foreign governments
Donald Trump’s hotels and other businesses accepted more than $7.8 million from foreign governments during his presidency, according to a new report from Democrats in Congress. China is accused of contributing over $5.5m to Trump’s payments, violating the US constitution. The report, based on documents from Trump’s former accounting firm, reveals that the US constitution […]
SpaceX accused of unlawfully firing workers
SpaceX has been acused of unlawfully firing eight workers who were critical of its multi-billionaire chief executive Elon Musk. US labor agency accuses SpaceX of violating workers’ rights under federal labor law, following an open letter from employees in 2022, which called the company’s executives a “distraction and embarrassment”. Former SpaceX employee Deborah Lawrence has […]
Francoise Meyers: L’Oreal heiress first woman to amass $100 billion fortune
L’Oreal heiress Francoise Bettencourt Meyers has become the first woman to amass a $100bn fortune, according to a ranking of the richest people in the world. L’Oréal’s stock market performance is soaring, with sales rebounding post-pandemic. Bettencourt Meyers’ net worth surpasses $100bn, making her the 12th richest person globally. Bettencourt Meyers, the vice-chairperson of L’Oréal’s […]
China’s BYD is closer to taking the electric car top spot.
Chinese company BYD has moved a step closer to toppling Elon Musk’s Tesla as the world’s biggest-selling manufacturer of electric vehicles. Tesla sold a record 526,000 battery-only vehicles in Q3 2023, with a 70% surge in December sales. The company also sold over 3 million new energy vehicles, including battery-only and hybrids. Industry analysts predict […]
Boeing urges 737 max inspections for possible loose bolt
Boeing urges airlines to inspect 737 Max planes for a loose bolt in rudder control systems, after an international operator found a missing nut. The issue has been resolved. Boeing recommends operators inspect their 737 Max airplanes for potential loose bolts in the rudder control system. The FAA is closely monitoring these checks, which take […]
Maersk prepares to resume shipping through the Red Sea.
Maersk plans to resume shipping operations through the Red Sea and Gulf of Aden following military operations to prevent Houthi rebel attacks in Yemen. The Red Sea, a crucial route for oil, gas, and consumer goods, is under threat from Houthis backing Hamas in Israel’s war, with alternative routes posing disruptions and increased costs. US […]
What went wrong at Smile Direct Club?
Mohammad Ahmad, a 17-year-old New Jersey student, was scammed into signing up for Smile Direct Club after the company declared bankruptcy, claiming he was scammed. Smile Direct Club, a Tennessee-based business, faced legal battles with traditional dentists and orthodontists, accusing it of providing inadequate care and misleading customers. The company threatened legal action against reporters […]
Shipper HMM set to be acquired by poultry conglomerate
South Korean poultry processor Harim Group has been named the preferred bidder for ocean carrier HMM, with an offer price of 6.4 trillion won ($4.92 billion). The deal would be South Korea’s biggest acquisition this year. Harim owns smaller rival Pan Ocean. Harim, a Korean conglomerate, is considering buying HMM, the world’s eighth-largest container shipper, […]
President Biden’s approval among small business owners
Biden’s reelection campaign faces challenges due to economic disparity, low approval ratings among small business owners, and a negative economic outlook, despite a drop in peak inflation. A survey shows inflation and interest rates are key reasons for Biden’s struggles to gain support from small businesses. Despite price drops, 70% of small business owners believe […]
How the Biden administration is doing on its goal of getting more loans to minority small business owners
The US has seen a small business boom, with people of color playing a significant role. However, historically, minority-owned businesses have grown slower. SBA loans to Black-owned small businesses have doubled since 2020, addressing systemic issues around access to capital. The Biden Administration has increased loan growth for Black businesses and underserved communities through initiatives […]