Business

Alexandr Kolesnikov/Getty Images (NEW YORK) — Online holiday shopping soared to a fresh record high in 2024, driven by an array of e-commerce discounts and adoption of AI-fueled shopping assistants, according to data released on Tuesday by Adobe. E-commerce sales topped $240 billion in November and December, climbing nearly 9% when compared with the gift-buying season a year prior, […]

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Facebook plans to replace its fact checkers with “Community Notes,” a move that Meta CEO Mark Zuckerberg said would allow the social network to return “to our roots around free expression.” “We’re replacing fact checkers with Community Notes, simplifying our policies and focusing on reducing mistakes,” […]

Prapass Pulsub via Getty Images (WASHINGTON) — In a major change that could affect millions of Americans’ credit scores, the Consumer Financial Protection Bureau on Tuesday finalized a rule to remove medical debt from consumer credit reports. The rule would erase an estimated $49 billion in unpaid medical bills from the credit reports of roughly […]

CHRIS KLEPONIS/AFP via Getty Images (WASHINGTON) — President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security. “Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden […]

(Phillip Spears/Getty Images) (NEW YORK) — Homebuyers eager to forget this year’s housing market may ring in 2025 with an extra dash of zeal. A rapid rise in home prices has coincided with stubbornly high mortgage rates, shutting out potential buyers with daunting costs. A burst of supply could have eased prices, but no such […]

Eric Thayer/Bloomberg via Getty Images (NEW YORK) — Nearly half of U.S. states are set to raise their minimum wage at the outset of 2025, boosting pay for millions of workers stretching from California to Maine. In all, 21 states will raise their wage floors on Jan. 1 in keeping with inflation-adjusted increases or as part of scheduled hikes […]

Jin Lee/Bloomberg via Getty Images (NEW YORK) — The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors. Twenty-three thousand victims worldwide are receiving payments, bringing their total recoveries to 94% of their losses. […]

SeongJoon Cho/Bloomberg via Getty Images (NEW YORK) — Shares of Boeing fell in early trading on Monday, one day after a Boeing model 737-800 was involved in the Jeju Air plane crash in South Korea that killed scores of passengers. The stock price dropped more than 4% at the open of trading on Monday morning. The slide came hours […]

Rebecca Noble/Getty Images (NEW YORK) — Two weeks before the Supreme Court is set to hear oral arguments over TikTok’s future, President-elect Donald Trump has asked the justices to delay a Jan. 19 deadline for the app to be sold to a new owner or face a ban in the U.S. An amicus brief filed […]

Matteo Colombo/Getty Images (NEW YORK) — The stock market climbed to record highs in 2024, extending banner gains achieved the previous year. The S&P 500 — the index that most people’s 401(k)’s track — climbed nearly 28% this year, as of Monday. The tech-heavy Nasdaq leapt a staggering 34% over that period; while the Dow […]