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Business Matters with Don Ma

Epoch Media Group

The latest business updates, expert analysis, and in-depth reports.

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22:43

Biden Admin Award $1.7B For EV Production; Annual...

Business Matters with Don Ma ·

2024/07/11

The federal government is spending $1.7 billion to modernize automobile manufacturing facilities, helping the industry compete with foreign subsidies and create and protect jobs.The U.S. annual inflation rate eased for the third consecutive month and came in below the consensus estimate, offering the Federal Reserve further evidence that progress is being made in returning to the central bank’s 2 percent target rate.Bankruptcies across the board soared 14% during thefirst quarter. We speak with the

23:20

Musk Beats $5M Lawsuit By Fired Twitter Workers;...

Business Matters with Don Ma ·

2024/07/10

Elon Musk has won dismissal of $500 million lawsuit which claimed some Twitter employees did not receive adequate severance when they were laid off after musk took over. Microsofthas given up its board observer seat at OpenAI in a move seemingly aimed at easing U.S. and UK antitrust regulators' concerns about the extent of its control over the AI startup amid the soaring popularity of generative artificial intelligence.After the U.S. and its allies issued a warning about a state-sponsored Chinese

22:05

Fed: Jobs Market is Weakening; United Plane Loses...

Business Matters with Don Ma ·

2024/07/09

The chairman of the Federal Reserve today acknowledging the jobs market is cooling. But he says he's increasingly confident that inflation is on its way down to a more normal level.A United Airlines Boeing 757-200 plane lost a wheel from its landing gear while taking off from Los Angeles International Airport on Monday but managed to land safely in Denver.As the S&P 500has soared, fewer stocks have been participating in the rally. Market breadth was narrow for most of last year and this year,

23:24

Boeing to plead guilty to fraud; Paramount, Skydance...

Business Matters with Don Ma ·

2024/07/08

Boeing will plead guilty to a criminal charge of defrauding the U.S. government over the deadly 2018 and 2019 737 Max crashes that killed 346 people, the U.S. Department of Justice (DOJ) said in a July 7 filing.ParamountGlobal’s board of directors has approved a merger with Skydance Media, endorsing a deal that would combine one of Hollywood’s oldest studios with the up-and-coming production company.According to the Transportation Security Administration, this July 4th holiday weekend hit a new

22:04

JP Morgan Warns It May Charge for Checking Accounts;...

Business Matters with Don Ma ·

2024/07/05

JP Morgan says Chase customers should get ready to payfor run-of-the-mill checking accounts. That'sif the U.S.governmentcaps the bank's other fees. But the head of JPMorgan ownedChase Banktold theWall Street Journalthat if this revenue sourcedries up, customers will have to fork out in other ways. New fans, new excitement, new sponsors. All that — at dodger stadium in Los Angeles. Some fans are coming from as far away as Japan. Much of this is because of one of the team's newest players —Shohei

22:54

Jeff Bezos to Sell $5B of Amazon Stock; Saks Fifth...

Business Matters with Don Ma ·

2024/07/04

Amazon founder Jeff Bezos is cashing in. He is selling 5 billion dollar-worth of Amazon stock as shares hit an all-time high. Amazon stock is up more than 30% so far this year.Two of the most popular high-end department stores are joining forces. The parent company of luxury retailer Saks Fifth Avenue have agreed to buy neimanmarcus. The deal is expected to be worth more than $2.5 billion. The merger comes years afterneimanmarcus filed for bankruptcy during the pandemic.Walmart is facing a class

23:01

China’s Temu is Malware: State Attorney General;...

Business Matters with Don Ma ·

2024/07/03

Arkansas Attorney General Tim Griffin has issued a stark warning against using the Temu marketplace app, labeling it a "data theft business." His office filed a lawsuit alleging Temu uses malware to access personal data. The app, operated by China-based Pinduoduo Inc., is accused of invasive data collection practices.Google’s greenhouse gas emissions have soared almost 50% in five years. That's according to the company's annual environmental report on Tuesday. The spike is due to the expansion of

22:44

Exploited Foreign Workers Found Making Luxury Goods;...

Business Matters with Don Ma ·

2024/07/02

Italian investigators discovered exploited foreign workers making Armand and Dior luxury handbags, among other goods. Luxury brands have high price tags, partly because consumers expect them to be made by skilled workers in artisanal workshops.A study found that exam papers completed by Artificial Intelligence software went undetected 94% of the time. Bans on using AI-like ChatGPT have proven to be difficult, according to the new study. The Biden administration on July 2 announced $504 million in

22:53

Supreme Court Deals Another Blow to ‘Administrative...

Business Matters with Don Ma ·

2024/07/01

After the Chevron ruling, today came Corner Post. The supreme court on July 1 made it easier forAmerican businessesto challenge federal regulations. The highest Court ruled 6-3 that a retailer can challenge the fees the Federal Reserve System allows banks to charge for processing debit card transactions, despite not filing the challenge before the usual six-year cutoff. This will allow businesses to bring fresh challenges to long-existing regulations. Boeing has agreed to buy one of its suppliers,

23:22

Supreme Court Strips Back Power of Federal Agencies;...

Business Matters with Don Ma ·

2024/06/28

The Supreme Court overruling Chevron deference could have a major effect on business in the United States. The ruling strips power from federal agencies like the Securities and Exchange Commission and the Environmental Protection Agency.Uber and Lyft have just agreed to pay their drivers $32.50 an hour in Massachusetts. That's about $70,000 a year, if the drivers work a standard week. They would also get paid sick leave, accident insurance, and health care stipends.It seems Warren Buffett just

22:31

Boeing Sanctioned by US Government; Home Prices to...

Business Matters with Don Ma ·

2024/06/27

It looks like Boeing is in trouble again. So it spoke in a briefing this morning about the door plug that flew off a 737 Max back in January. But government safety regulators say Boeing wasn’t allowed to speak to the media like that.Bank of America says U-S home prices will stay high and the housing shortage will continue. And, as a kicker - mortgage rates aren't going to fall much. Tripe whammy.Is your neighbourhood drug store doing away? WALGREENS IS SET TO CLOSE A SUBSTANTIAL NUMBER OF ITS

23:12

Home Flipping Gross Profits Rose To 30.2% Last...

Business Matters with Don Ma ·

2024/06/26

Home flippers earned a 30.2% gross profit nationwide before expenses on homes sold during the first quarter of 2024, up from 27.7 percent in the fourth quarter of 2023. This is according to real estate data firm ATTOM. Home flipping activity also went up. Amazon.com Inc hit $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for

22:34

Microsoft Hit with EU Antitrust Charge, Risks Hefty...

Business Matters with Don Ma ·

2024/06/25

Microsoftis in trouble with the EU over its popular collaboration app Teams, and could face a big fine. Antitrust regulators charged the U.S. tech giant on Tuesday (June 25) of illegally bundling the product with its Office software, making it hard for rivals to compete. Teslasaid on Tuesday it was recalling most Cybertrucks in the United States over issues with their windshield wipers and exterior trim, the latest setback for the futuristic truck whose mass production is expected to start next

21:29

Apple Charged with Breaching EU Tech Rules;...

Business Matters with Don Ma ·

2024/06/24

Appleis in hot water with European authorities again. EU antitrust regulators said Monday the company's App Store conditions breach the bloc's tech rules. They accuse the U.S. tech giant of preventing app developers from steering consumer to alternative offers. It's a charge which could lead to a large fine for the iPhone maker. The accusation againstAppleis the first by the European Commission under its landmark Digital Markets Act, or DMA.Chinais pressing the EU to drop its newtariffs on the

23:02

U.S. Home Prices Hit Record High; Trump Floats Green...

Business Matters with Don Ma ·

2024/06/21

National Association of Realtors report home prices rose to a record high in May, with median price now $419k. According to Zillow, households would need to save more than $127,000, to make a down payment on a typical home and afford the mortgage payment.Former president trump yesterday floated a proposal to automatically give green cards to foreign students graduating from American colleges, so they can stay and work here in the country.NTD spoke to an immigration lawyer about the likelihood and

23:40

NY State Bans Addictive Social Media Feeds, 1st In...

Business Matters with Don Ma ·

2024/06/20

New York Gov. Kathy Hochul on Thursday signed a bill that would allow parents to block their children from getting social media posts suggested by a platform's algorithm, a move to limit feeds critics argue are addictive.McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales.Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market. The standard

23:48

DOJ: Chinese Group Laundered Money for Mexican Drug...

Business Matters with Don Ma ·

2024/06/19

A five-year investigation by U.S. officials has uncovered a complex partnership between one of Mexico’s most notorious drug cartels and Chinese underground banking groups in the U.S. that laundered money from the sale of fentanyl, cocaine and other drugs, federal prosecutors said Tuesday.Legacy U.S. automakers such as Ford Motor and General Motors should leave theChinamarket to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst John Murphy said on Tuesday. Auto

22:25

Boeing CEO Grilled in Senate Hearing; Nvidia Becomes...

Business Matters with Don Ma ·

2024/06/18

U.S. senators on Tuesday blasted the CEO of Boeing for the planemaker's tarnished safety record, overshadowing his apology to families who lost loved ones in two 737 MAX crashes and acceptance of responsibility after a January mid-air emergency.U.S. retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lackluster in the second quarter.Texas senator Ted Cruz introduced a new bill today to protect and empower victims of

22:51

Surgeon General Calls for Social Media Warning...

Business Matters with Don Ma ·

2024/06/17

U.S.SurgeonGeneralVivek Murthy on Monday called for a warning label to be added tosocialmediaapps as a reminder that those platforms have caused mental health harm to young people, especially adolescents.China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.The U.S. government sued Adobe on Monday, accusing the Photoshop

21:11

Wells Fargo Fires Employees for Allegedly Faking...

Business Matters with Don Ma ·

2024/06/14

WellsFargolast month terminated over a dozen employees after reviewing allegations that they were involved in simulation of keyboard activity, creating an impression of active work, Bloomberg News reported on Thursday.Consumersentimentdeteriorated in June as households worried about inflation and incomes, a survey showed on Friday.Federal authorities and Boeing are trying to figure out why a 737 Max 8 did a rare and dangerous back-and-forth roll during a recent flight.G7leaders pledged to tackle

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