The Latest Headlines at The AM Reporter
Walgreens and CVS Agree to Pay a Combined $10B Settlement in Opioid Case
Walgreens and CVS have agreed, tentatively, to pay $10 billion in order to settle lawsuits brought upon them by both state and local governments. The lawsuits allege the retailers improperly handled opioid painkiller prescriptions.... More of this article »
Here’s What We Will See with Fed Benchmark Raised Again
Over two days, this week, the Federal Reserve will conduct its Federal Open Market Committee meetings. And during this session, many expect the central US bank to raise its benchmark interest rate, for the fourth meeting in a row.... More of this article »
Pine-Sol and Clorox Issue Recall Over Bacterial Contamination in Eight Product Lines
This week, the US Consumer Product Safety Commission announced a recall on eight Pine-Sol disinfectant cleaning products over concerns that they may be contaminated with infection-causing bacteria. The recall applies to approximately... More of this article »
Mortgage Rates Pass 7% to Their Highest Level Since 2001
Mortgage rates in the United States rose nearly 20 points, to 7.16%, the final week of October. This is the highest level for a typical 30-year mortgage interest rate since 2001. The Mortgage Bankers Association also said the average... More of this article »
Delivery Gig Provider ‘Shipt; Sued in Minnesota over Worker Classification
This week, Minnesota Attorney General Keith Ellison filed a lawsuit against grocery delivery company Shipt over allegations they improperly classify their delivery workers. Acquired by Target in 2017—for $550 million—Shipt offers... More of this article »
Trump’s Company Grossly Overcharged Secret Service While Staying at Trump Properties During His Term, Report Says
Documents released this week by the House Oversight Committee offer details about how the Trump Organization charged extremely high rates to the Secret Service for stays at Trump properties. Just for doing their jobs—protection... More of this article »
Mortgage Applications Drops to 25-Year Low
Mortgage demand has struggled for the better part of the last four months, ultimately falling to its lowest level since 1997 just a few days ago. Of course, this decline is caused by three major issues: rising interest rates, higher... More of this article »
Hertz and BP Announce EV Partnership
As gas prices continue to rise—or, at the very least, remain at historically high levels—both car and fuel companies have to look for more ways to attract customers. One way to do that, of course, would be to focus on alternative... More of this article »
Personal Consumption Expenditure Metric Suggests Inflation iin August was Higher Than Expected
While it may not be all that surprising to most, August registered stronger inflation levels than analysts had originally expected. This is in spite of accelerated efforts from the Federal Reserve bank to temper prices to help consumers.... More of this article »
Nearly Three-in-Four Workers Are Looking for Additional Work To Keep Up With Inflation
New labor data indicates an alarmingly high number of people are looking for extra work to keep pace with inflation. In a survey from workforce-as-a-service platform Bluecrew, approximately 70 percent of Americans are looking for... More of this article »
General Electric to Lay Off One-Fifth of US Onshore Wind Workforce
Energy provider General Electric recently announced a plan to lay off roughly one-fifth of the workforce within its US onshore wind division. Approximately 20 percent of this roster equates to several hundred jobs. A spokesperson... More of this article »
Can Another Round of Layoffs Turn Things Around At Peloton?
In August, Peloton released an abysmal financial report for the quarter, indicating a loss in excess of $1.2 billion on 30 percent lower year-over-year revenue. At that time, Peloton CEO Barry McCarthy announced they would be laying... More of this article »
Biogen Settles Whistleblower Bribe Case for $900 Million
This week, the United States Justice Department released a statement describing how a whistleblower accused US pharmaceutical company Biogen of bribing doctors to prescribe their drug to multiple sclerosis patients. Furthermore,... More of this article »