Wells Fargo CEO warns of severance costs as layoffs loom
Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. Patrick T. Fallon | Afp | Getty Images Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means […]
Annuities: people are willing to pay for products with lifetime benefits
My colleagues, Karolos Arapakis and Gal Wettstein, have just published a really interesting paper on the “annuity puzzle.” That is, while economic models predict that many people would be better off with annuities, only a small portion of retirees actually hold an annuity. Economists have spent the last few decades identifying reasons why individuals might […]
Miriam Adelson makes play for Texas with Mavericks deal
Miriam Adelson speaks onstage during the 24th annual Keep Memory Alive benefit for the Cleveland Clinic Lou Ruvo Center for Brain Health at MGM Grand Garden Arena on March 7, 2020, in Las Vegas, Nevada. (Photo by Denise Truscello/Getty Images for Keep Memory Alive) Denise Truscello | Getty Images News that Miriam Adelson and her […]
Free ChatGPT may incorrectly answer drug questions, study says
Harun Ozalp | Anadolu | Getty Images The free version of ChatGPT may provide inaccurate or incomplete responses — or no answer at all — to questions related to medications, which could potentially endanger patients who use OpenAI’s viral chatbot, a new study released Tuesday suggests. Pharmacists at Long Island University who posed 39 questions […]
Why solar energy will continue to lead among renewable energy sources in 2024
The renewable energy industry has benefited from rising demand and investment this year, with strength in the sector led by the solar market, according to Deloitte’s 2024 renewable energy industry outlook report released Tuesday. Wind power generation, however, struggled in part due to cost pressures, the report said. Solar is the “most flexible renewable resource,” […]
Spirit Airlines offers buyouts to salaried employees
A Spirit Airlines plane takes off at Los Angeles International Airport in Los Angeles, June 1, 2023. Mario Tama | Getty Images Spirit Airlines is offering voluntary exit packages to salaried employees, the budget carrier’s latest cost-cutting measure as it expects financial strains to continue next year. The airline has been facing weak off-peak demand […]
Israel probes if short-sellers targeted stocks ahead of Hamas attack: report
Authorities in Israel are investigating claims made by U.S. researchers that traders put outsize short positions on Israeli stocks and an exchange-traded fund ahead of the Oct. 7 attack by Hamas, Reuters reported Monday. The Israel Securities Authority said the matter “is known to the authority and is under investigation by all the relevant parties,” […]
Alaska-Hawaiian airline merger faces Justice Department scrutiny
An Alaska Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. Joshua Roberts | Reuters Alaska Air Group‘s executives spent months working on its plan to buy rival Hawaiian Airlines. The airlines’ leaders will now spend many more trying to convince regulators the acquisition […]
El Salvador’s president has ‘no intention of selling’ the country’s bitcoin, despite rally
“‘El Salvador’s Bitcoin investments are in the black!’” That was El Salvador President Nayib Bukele boasting about his country’s investment in cryptocurrency bitcoin BTCUSD, +4.35% in a post on X, formerly Twitter, on Monday. Being in the black is a reference indicating a profit. Bukele, a bitcoin bull, posted a screenshot of the country’s total […]
Alaska Airlines to acquire Hawaiian Airlines in $1.9 billion deal
Alaska Air Group has agreed to buy rival Hawaiian Airlines in a $1.9 billion deal, setting up another potential regulatory battle in the second proposed airline merger in less than two years. Alaska would pay $18 a share for Hawaiian and would take on $900 million of its debt, the companies said Sunday. Shares of […]
