Business - Page 8

Google Fined $425M for Privacy Violations in Data Case

Written By Lexx Thornton A federal jury in California has found Google liable for privacy violations and ordered the company to pay $425 million in damages. The lawsuit accused Google of continuing to collect data from millions of users even after they had explicitly turned off the “Web & App Activity” tracking setting in their Google accounts. The plaintiffs successfully argued that Google’s tracking software, often embedded in other apps and websites, made it nearly impossible for users to opt out of data collection.  Google denies all allegations and plans to appeal the verdict. This means there is currently no

Colorado Approves Tax Hike to Fund Free School Meals

Written By: Taylor Dolven  Coloradans voted Tuesday to increase taxes on wealthy households to fully fund free breakfast and lunch for all public school kids and bolster the federal Supplemental Nutrition Assistance Program, also known as SNAP or food stamps.  The Associated Press projected that Proposition MM would pass at 8:25 p.m. when 57% of the votes counted were in support of the measure and 43% were opposed.  The increased taxes on households earning at least $300,000 will shore up funding for free school meals for all public school children, provide raises for school meal staff, and support school district

New Mexico Becomes First State to Offer Free Childcare for All

Written By Lexx Thornton New Mexico has achieved a groundbreaking milestone, becoming the first U.S. state to effectively eliminate the cost of childcare for all its residents, regardless of income. The program, which removes all income eligibility requirements and family co-payments from the state’s childcare assistance program, is poised to inject significant economic stimulus and set a national precedent for addressing the childcare crisis.  The immediate financial relief is substantial: the initiative is estimated to save New Mexico families an average of $12,000 per child annually. This figure, often equivalent to a second mortgage or a significant percentage of a

NYC Cancels $135M in Medical Debt for 75K Residents

Written By Lexx Thornton New York City Mayor Eric Adams today announced that his administration has already helped cancel nearly $135 million in medical debt for over 75,000 New Yorkers. Last year, Mayor Adams launched a pioneering program that — through an $18 million investment by the city over three years — will relieve some or all of the medical debt for 500,000 working-class New Yorkers on a one-time basis, totaling over $2 billion in eliminated debt.   In addition, Mayor Adams today celebrated the opening of eight new ‘NYC Financial Empowerment Centers’ run by the New York City Department of

Washington Leads U.S. in 2025 Cryptocurrency Adoption

Written By Lexx Thornton A new analysis of the latest IRS data reveals that over 2.78 million Americans are actively participating in cryptocurrencies, with Bitcoin estimated to account for roughly 75% of all user engagement. While the IRS did not begin tracking general crypto involvement in tax filings until 2020, data compiled by SmartAsset now offers clear insight into which states have the highest rates of adoption.  The analysis indicates that the trend of cryptocurrency adoption is strongest in the Western United States. Washington state leads the nation, maintaining the highest rate for three consecutive years. As of the 2022

U.S. Raises Federal Minimum Wage to $10.50 an Hour

Written By Lexx Thornton In a significant economic shift for millions of American workers, the U.S. government has officially declared a substantial increase to the federal minimum wage, raising it to $10.50 per hour, effective November 2, 2025.  This long-awaited adjustment, which represents the first change to the federal minimum wage since 2009, is nearly a 45% increase from the previous rate. The decision was driven by escalating inflation, the rising cost of living, and high labor demand across various sectors.  The primary goal of the increase is to ensure that workers are paid a living wage, enabling them to

Aliko Dangote Hits $30B Net Worth Milestone in 2025

Written By Lexx Thornton Nigerian business mogul Aliko Dangote, Africa’s richest man, has achieved a new financial milestone, with his net worth climbing to $30 billion as of October 23. The figure marks a significant $2.16 billion gain since the start of the year, according to data from Bloomberg’s Billionaires Index and Business Insider.  Dangote’s fortune saw a rapid surge in recent weeks, growing by an estimated $430 million to push him past the coveted $30 billion threshold. This ascent is primarily fueled by strategic expansion across his massive industrial empire, particularly in cement and oil refining.  The latest financial

UPS Cuts 48,000 Jobs in Major 2025 Cost-Cutting Overhaul

Written By Lexx Thornton United Parcel Service (UPS) has implemented one of the largest single-year job reductions by a U.S. company since the pandemic, cutting approximately 48,000 jobs this year as the package giant executes a sweeping strategy to contain costs and boost its lagging stock price.  The Atlanta-based delivery behemoth disclosed the massive downsizing on Tuesday while reporting third-quarter earnings that managed to beat Wall Street expectations. UPS shares subsequently jumped nearly 9% in afternoon trading.  The total job cuts far exceeded previously disclosed targets and account for nearly 10% of the half a million people the company employed

Troops May Miss Paychecks as Shutdown Drags On

Written By Lexx Thornton Active-duty military personnel will stop receiving pay by November 15th if Congress and the White House fail to reach an agreement to end the government shutdown, Treasury Secretary Scott Bessent warned.  The nearly four-week-long shutdown has already furloughed approximately 750,000 federal workers and forced hundreds of thousands of others to work without pay. To ensure the roughly 1.3 million active service members continued to receive their checks, the Trump administration resorted to exceptional measures.  This involved moving existing Pentagon funds and taking the unusual step of accepting a $130 million donation from a private donor to

Moody’s Warns: 22 States Face High Recession Risk

Written By Lexx Thornton While official data paints a picture of robust national growth, a closer look at the American economy reveals widespread weakness, with nearly a third of states at high risk of recession, according to Moody’s Analytics Chief Economist Mark Zandi.  The current economic landscape is marked by a sharp divergence: the national Gross Domestic Product (GDP) continues to grow at a healthy pace, but the recovery is unevenly distributed.  Mark Zandi’s recent analysis highlights this geographic disparity:  Recession Risk: A startling 22 states and Washington, D.C.—representing almost one-third of the nation’s total economic output (GDP)—are either already

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