US jobless claims plunge to five-month low despite Fed rate hikes

The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite rising headwinds from the Federal Reserve’s stiff interest rate increases and slowing demand. The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy’s … Read more

These are the top 10 worst airports in North America

Newark Liberty International has the dubious distinction of being rated the worst “mega-airport” in North America, according to a survey of air travelers. The New Jersey hub earned the lowest marks from more than 26,500 people who ranked the best and worst airports for a survey conducted by data and analytics firm J.D. Power, which … Read more

Iron Mountain CEO William Meaney ‘praying for inflation’

The chief executive of a Boston-based tech firm told investors that he has been “praying for inflation” because it’s good for his business, according to a report. William Meaney, CEO data storage and management company Iron Mountain, told Wall Street analysts last week that high prices benefit the company’s margins, which is why he has … Read more

Mark Zuckerberg’s Little League baseball card sells for six-figure sum

Meta boss Mark Zuckerberg’s Little League baseball card fetched a six-figure sum at auction, according to a report. The authenticated card, displaying a photo of an 8-year-old Zuckerberg and his autograph, sold for $105,000 at an auction conducted by ComicConnect.com, MarketWatch reported Wednesday. The undisclosed buyer also paid a 15% premium on the closing price … Read more

Ken Griffin says US recession inevitable, but backs Fed hikes

Billionaire hedge fund CEO Ken Griffin thinks that a recession is inevitable and that the Federal Reserve hasn’t been aggressive enough in hiking interest rates in order to bring down record levels of inflation. “We should continue on the path that we’re on to ensure that we reach our inflation expectations,” Griffin told a conference … Read more

LeBron James is buying a professional pickleball team

LeBron James is looking to capitalize on the pickleball craze that is sweeping the nation. The Lakers superstar and his longtime business partner Maverick Carter are buying a professional pickleball team, the Austin, Texas-based Major League Pickleball announced. James, whose vast business portfolio includes stakes in MLB’s Boston Red Sox and English soccer team Liverpool, … Read more

New Alzheimer’s drug lecanemab slows disease: study

A new drug can slow the insidious impact of Alzheimer’s Disease, a major clinical trial has found. Patients taking the drug, known as lecanemab, showed a 27% decrease in cognitive decline compared to a control group, according to developers Biogen, based in Boston, and Eisai, headquartered in Tokyo. “Starting as early as six months, across … Read more