Finance
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Consumer Price Index increased 0.4% in December, Labor Department
The CPI for December was 2.9%, compared to the same time last year.
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LA Mayor Bass's spending priorities, cuts to the LAFD, affected effort to fight wildfires: Report
The problem began last year after Bass’s involvement in the settling of contract negotiations with public sector unions, which cost the city $4.5 billion over the life of the contracts, according to reports.
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Fire budget was cut by Newsom by $100 million before Los Angeles wildfires: report
Among the budget cuts were $28 million from "multiple state conservancies that expand wildfire resilience." A spokesperson for Newsom called the reported budget cuts a "ridiculous lie."
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US economy added 256,000 jobs in December, unemployment rate drops slightly to 4.1%
The number of new jobs last month was higher than the 212,000 added in November 2024.
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Coalition of major banks sue the Federal Reserve over stress test
The groups that brought the lawsuit, which includes the Bank Policy Institute (BPI), said they do not oppose stress tests, but said the current framework “produces vacillating and unexplained requirements and restrictions on bank capital."
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Bidenomics slumps to the end as Dow hits 10-day losing streak, longest since 1974
The Dow dropped 2.6% on Wednesday, while the S&P 500 closed with a loss of about 3%, and the Nasdaq declined by approximately 3.6%.
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Fed cuts rates by a quarter point
The Fed signaled that there will be less frequent rate cuts during 2025.
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Dow experiences longest losing streak since the late 1970s after ninth consecutive day of decline
A drop in UnitedHealth Group stocks amount to the most significant losses in the Dow. The company's stock has lost 18% of its value so far this month, which was largely triggered by the fatal shooting of UnitedHealthcare CEO Brian Thompson on Dec. 4.
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S&P Global warns Trump tariff plan could cost auto industry major profits
The report warned that premium auto companies could face the highest costs, including companies like Volvo and Jaguar, and that Trump's plans “will likely intensify the headwinds the global auto industry will face in an already challenging 2025."
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Macy's delays Q3 earnings release amid probe into employee allegedly hiding $154M in expenses
The company said the employee no longer works for Macy's, and that the person's actions did not affect its cash management and vendor payments. It is unclear if they are pursuing criminal charges.
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Warren Buffett gives $1.1B away as part of annual Thanksgiving tradition
Buffett has sworn to give away the majority of his $147 billion fortune before he dies, but has also outlined plans for his family to give away the wealth if he dies before he is able to donate it all.
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Trump expected to launch Bitcoin reserve, as the cryptocurrency nears $100,000,
When Trump was on the campaign trail, he promised he would develop a council that would be friendly to Bitcoin.
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Spirit Airlines files for Chapter 11 bankruptcy protection
The airline said its operations would continue uninterrupted as the bankruptcy process plays out