Business - Page 13

Toyota Faces $10B Hit from Trump’s U.S. Car Tariffs

Written By Lexx Thornton Japan’s Toyota Motor said on Thursday it expected a hit of nearly $10 billion from President Donald Trump’s tariffs on cars imported into the United States, the highest such estimate yet by any company, underscoring growing margin pressures.   The world’s top-selling car maker also cut by 16% its forecast for full-year operating profit, reflecting challenges for global manufacturers grappling with rising costs from U.S. levies on cars, parts, steel, and aluminium.   “It’s honestly very difficult for us to predict what will happen regarding the market environment,” Takanori Azuma, Toyota’s head of finance, told a briefing, vowing

Michigan Moms Get $7,500 Through Rx Kids Program

Written by Lexx Thornton A procession of mothers wearing red sashes, pushing strollers and tending to toddlers, made their way Friday to a little festival in Flint, Michigan, where families received diapers and kids played.  It was called a “baby parade.”   The sashes indicated the women were participants of a growing program in Michigan that helps pregnant women and new moms by giving them cash over the first year of their children’s lives. Launched in 2024, the program comes at a time when many voters worry over high child care costs and President Donald Trump’s administration floats a policy to

AT&T to Pay $177M in Customer Data Breach Settlement

Written By Lexx Thornton AT&T will pay $177 million in a class action settlement related to separate alleged data breaches last year.  In one incident, dated March 30, 2024, some customers’ vulnerable data, including addresses, social security numbers, birthdates, passcodes, billing numbers, and phone numbers were released on the dark web, according to a news release by Kroll Settlement Administration.  The telecommunication company was also accused of an incident on July 12, 2024, where limited data was illegally downloaded. Some of the breached information included customers and other users associated with the account, as well as the numbers they interacted

Trump Tariffs Can’t Replace Income Tax, Analysis Shows

Written By Lexx Thornton President Trump has many times suggested that tariff revenue could replace the federal income tax. This claim is absurdly off-base, since it is mathematically impossible for tariffs, even at current levels of imports, to generate the $2.4 trillion in revenue that would be necessary. Commerce Secretary Howard Lutnick, however, has said that the president only aspires to eliminate income tax for Americans earning less than $150k. Could tariffs cover that?   As shown in the figure above, annual tariff revenue from the current effective Trump tariff rate of 28% would—assuming that imports stayed constant— amount to $838bn

AOL to Shut Down Dial-Up Internet After Decades of Service

Written By Lexx Thornton AOL’s dial-up internet is finally taking its last bow. Yes, while perhaps a dinosaur by today’s digital standards, dial-up is still around. But AOL says it’s officially pulling the plug on its service on Sept. 30.   “AOL routinely evaluates its products and services and has decided to discontinue Dial-up Internet,” AOL wrote in a brief update on its support site, noting that dial-up and associated software “optimized for older operating systems” will soon be unavailable on AOL plans.   AOL, formerly America Online, introduced many households to the World Wide Web for the first time when its

CFPB Sues Capital One Over $2B Savings Account Scheme

Written By Lexx Thornton Consumer Financial Protection Bureau (CFPB) sued Capital One, N.A., and its parent holding company, Capital One Financial Corp., for cheating millions of consumers out of more than $2 billion in interest. The CFPB alleges that Capital One promised consumers that its flagship “360 Savings” account provided one of the nation’s “best” and “highest” interest rates, but the bank froze the interest rate at a low level while rates rose nationwide. Around the same time, Capital One created a virtually identical product, “360 Performance Savings,” that differed from 360 Savings only in that it paid out substantially

Trump Admin OKs $3.89B Loan for Ga. 400 Toll Lane Project

Written By Lexx Thornton President Donald Trump’s administration announced Tuesday a $3.89 billion public-private partnership loan to add toll lanes along a 16-mile section of Ga. 400. According to U.S. Transportation Secretary Sean Duffy, the loan originates from the Build America Bureau and is for a public-private partnership between the Georgia Department of Transportation, the State Road and Tollway Authority, and SR 400 Peach Partners, LLC.   Duffy said the funding, made possible by the Transportation Infrastructure Finance and Innovation Act, is the largest loan approved to a single borrower to date. The project will add new lanes in both directions

HBCU AWARE FEST 2026 to Raise $100M for Black Students

In a bold effort to tackle one of the most pressing economic challenges facing Black America, the Student Freedom Initiative (SFI)—founded by billionaire businessman Robert F. Smith, Chairman and CEO of Vista Equity Partners—has partnered with Live Nation Urban to launch HBCU AWARE FEST 2026. This first-of-its-kind cultural and educational movement will debut in Spring 2026 with a weeklong activation in Atlanta, led by Mayor Andre Dickens. The goal: raise $100 million to support students at Historically Black Colleges and Universities (HBCUs), Minority Serving Institutions, and Tribal Colleges and Universities. The Weight of Student Debt on Black Futures Black undergraduate students carry an average of $38,000 in student loan debt, a

Global Debt Hits $324T as China, Europe Drive Surge

Written By Lexx Thornton Global debt rose by around $7.5 trillion in the first three months of the year to hit a record high of over $324 trillion, data from a banking trade group showed on Tuesday.   The Institute of International Finance said China, France, and Germany were the largest contributors to the global debt increase, while debt levels declined in Canada, the UAE, and Turkey. “While the sharp depreciation of the U.S. dollar against major trading partners contributed to the increase in the USD value of debt, the Q1 rise was more than quadruple the average quarterly increase of

Howard Alumni Launch AI Tool for Fast Expungement Help

Howard alumni Lawrence Blackmon and Roger Roman are the founders of LegalEase, a justice‑tech startup helping people find their expungement eligibility and file court petitions within minutes. Their Expungement.ai platform provides users with a conversational experience to discover their expungement through voice, web chat, or SMS text. Helping people find jobs and housing In the US, nearly 8% of adults and around 33% of African American men have a felony conviction, according to a 2010 study by the University of Georgia School of Public and International Affairs. Additionally, a report by The Sentencing Project found that Black Americans are incarcerated at nearly five times the rate of

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