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Monthly Archives: June 2023

Shein denies U.S. IPO rumors

Two people hold two Shein bags after entering SHEIN’s first physical store in Madrid, Spain, June 2, 2022. Cezaro De Luca | Europa Press | Getty Images Chinese fast fashion giant Shein on Friday denied a Reuters report that said it has confidentially filed for an initial public offering in …

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Previous monetary stimulus not working, loans fall

China’s economy likely recovered in the second quarter, according to a private survey with more than 4600 respondents and conducted by China Beige Book between mid-April and mid-April 2023. Sopa Images | Lightrocket | Getty Images China’s monetary stimulus last year did little to boost loan demand in the second …

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First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision

The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. Gross domestic product increased at a 2% annualized pace for the January-through-March period, up from the previous estimate of 1.3% and ahead of the 1.4% …

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Chinese fintech exec stole insider info to trade tech stocks: SEC

VMware at the NYSE, Dec. 14, 2021. Source: NYSE The compliance chief at a Chinese payment processor was charged by the SEC and New York federal prosecutors with violating insider trading laws after sneaking onto to his girlfriend’s computer to view meetings between investment bankers and companies. Steven Teixeira, who …

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What the Supreme Court’s decision on affirmative action means for you

Harvard Yard, on the campus of Harvard University in Cambridge, Massachusetts. Maddie Meyer | Getty Images By lunchtime Thursday, Christopher Rim, president and CEO of Command Education, had received more than two dozen calls from students and their families, all with one question: How would the Supreme Court’s ruling on the affirmative …

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Overstock.com shares spike after company announces website rebrand

Overstock.com CEO Jonathan Johnson, June 29, 2023. Scott Mlyn | CNBC Shares of Overstock.com rocketed 19% higher on Thursday, a day after the e-commerce home goods retailer announced it would change its website’s name to Bed Bath & Beyond after buying up the fallen retailer’s intellectual property and digital assets …

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Here are affordable ways to save on cooling costs this summer

The sun sets behind power lines near homes during a heat wave in Los Angeles, Sept. 6, 2022. Patrick T. Fallon | Afp | Getty Images As millions of Americans across the country grapple with scorching heat, experts are offering up tips for saving money amid record-breaking temperatures. Despite falling …

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How to claim cash from Google, Meta class-action lawsuits

You could be owed some cash if you are a U.S. resident who used Google search between Oct. 26, 2006 and Sept. 30, 2013. The potential payout is the result of a class-action lawsuit that alleges Google improperly shared users’ search queries and histories with third-party websites and companies. Google …

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Supreme Court decision on student loan forgiveness expected Friday

U.S. Supreme Court, Biden vs Nebraska, Student Debt Relief Program Douglas Rissing | Istock | Getty Images The Supreme Court’s term is almost over and the justices still haven’t issued a decision on President Joe Biden’s plan to cancel up to $20,000 for tens of millions of Americans. But the …

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Supreme Court rejects affirmative action at colleges

The Supreme Court on Thursday ruled that the affirmative action admission policies of Harvard and the University of North Carolina are unconstitutional. The ruling is a massive blow to decades-old efforts to boost enrollment of minorities at American universities through policies that took into account applicants’ race. “Eliminating racial discrimination …

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