Monday, June 27, 2022

Sony Purchases Bungie for $3.6 Billion

On Monday, January 31, Sony Interactive Entertainment announced that it would be purchasing Bungie, a video game maker, for $3.6 billion. This comes after a $69 billion acquisition of Activision Blizzard by Microsoft just weeks ago.

Microsoft to Purchase Activision Blizzard in Blockbuster Deal

On January 18th, 2022, Microsoft announced that it would be acquiring video game company Activision Blizzard for 68.7 billion dollars. It is the most expensive video game company acquisition in history.

Meta Stock Tanks On Historic Day

By Seth Gellman After rebranding in October, Zuckerberg’s Meta is facing historic losses in the largest single-day decline for a company in recorded history. On...

National Debt Tops $30 Trillion

By Michael Ge On February 1, the Treasury Department announced that the total amount of national debt exceeded $30 trillion. This is dangerous news for...

AT&T, Verizon Delay 5G Rollout Near Airports

Just 36 hours before Verizon and AT&T were set to unveil their new 5G technology across the country, the CEOs of every major airline signed a request to the Federal Aviation Administration to block 5G within 2 miles of major airports.

Navient Reaches Deal to Cancel Student Loan Debt

Navient, one of the largest student loan providers in the nation, announced that it reached a $1.85 billion settlement with 39 state attorney generals over allegations of predatory lending and leading student borrowers into expensive plans.

Kellogg’s Strike: A Summary So Far

On October 5, around 1,400 workers at four different Kellogg’s plants went on strike. The strike has been ongoing ever since, and despite the strike still continuing to this day, there still has been no agreement between the Bakery, Confectionery, Tobacco Workers and Grain Millers' International Union (BCTGM), which represents the striking employees and Kellogg’s. The strike is ongoing at four different locations: Battle Creek, Michigan, Omaha, Nebraska, Lancaster, Pennsylvania, and Memphis, Tennessee. 

European Commission Releases Proposal to Help Gig Workers

On Thursday, December 9, the European Commission proposed new rules that would require companies like Uber and Lyft to pay drivers and couriers a minimum wage, a practice that so-called “gig workers.” It is estimated that this would affect up to 4.1 million workers.

Dorsey Resigns in Twitter Shakeup

On Monday, November 29, Jack Dorsey announced that he was stepping down as CEO of Twitter. He was replaced by Parag Agrawal, the Chief Technology Officer. Dorsey is still the chief executive of the payments company Square.

Inflation Rate Rises as Fed Takes Closer Look

With gas prices skyrocketing and housing costs through the roof, the various stimulus programs throughout the pandemic, record spending by the government, and disrupted supply chains raising costs of goods, it is unsurprising that the annual U.S. inflation rate jumped to 6.2% in October - the highest rate since 1990. Should Americans be worried? Is there anything that can be done to halt the inflation? 

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