WASHINGTON (AP) – Powered by strong consumer spending, the U.S. economy grew at the fastest pace in two years from July through September, the government said Thursday in a slight upgrade of its first estimate. America’s gross domestic product – the nation’s output of goods and services – rose at a 4.4% annual pace in the third quarter.
TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the United States that has been in discussion for years. The social video platform company signed agreements with major investors including Oracle, Silver Lake and MGX to form the new TikTok U.S. joint venture.
CSX said Thursday that its profit slipped 2% in the fourth quarter as the railroad dealt with weak demand and severance costs from layoffs that new CEO Steve Angel carried out last fall.
Jan. 19 – The Washington Post says Congress has dropped the ball regarding oversight of ICE, DHS. Geraldo Lunas Campos died at a Texas detention center on Jan. 3 while pleading for air as guards choked him, according to a fellow detainee. The local medical examiner’s office is considering classifying his death as a homicide, The Post reports.
NEW YORK (AP) – An appeal for bankruptcy protection filing of the operator of Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus has left the luxury department stores’ suppliers with unpaid bills and caused a rift with Amazon, one of Saks Global’s minority investors.
WASHINGTON (AP) – The Federal Reserve’s preferred inflation gauge ticked up in November in the latest sign that prices remain stubbornly elevated, while consumers spent at a healthy pace. Consumer prices rose 2.8% in November from a year earlier, the Commerce Department said Thursday, up from a 2.7% annual pace in October.
CARACAS, Venezuela (AP) – Venezuela’s legislature advanced a bill on Thursday to loosen state control over the country’s vast oil sector in the first major overhaul since the late socialist leader Hugo Chávez nationalized parts of the industry in 2007. The legislation would formally break decades of state command over some of the world’s largest oil reserves.
BALTIMORE (AP) – Clothing retailer Under Armour is investigating a recent data breach that purloined customers’ email addresses and other personal information, but so far there are no signs the hackers stole any passwords or financial information.
SAN FRANCISCO (AP) – Google is leveraging its artificial intelligence technology to open a new peephole for its dominant search engine to tailor answers that draw upon people’s interests, habits, travel itineraries and photo libraries.
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