America First Agenda
Kelly Loeffler Confirmed By Senate As Head Of Small Business Administration
The Senate has confirmed former Senator Kelly Loeffler in a 52-46 vote to lead the Small Business Administration (SBA).
Adrienne Harris
PayPal fined by New York for cybersecurity failures
PayPal will pay a $2 million civil fine over cybersecurity failures that led to the exposure of customers’ Social Security numbers in late 2022.
Asset Managers
Robinhood launches desktop platform, adds futures and index options trading to app
Robinhood launched its long-awaited desktop platform and added futures and index options trading features to its mobile app on Wednesday.
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US consumer spending solid in July; inflation rises moderately
Consumer spending increased solidly in July, arguing against a half-percentage-point interest rate cut from the Federal Reserve next month.
2% target
US inflation rises moderately, consumer spending cools
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.
Air travel
‘Largest IT Outage Of All Time’ Leaves The U.S. And Globe On Edge
Friday saw disruptions to financial services, medical offices, airports, TV broadcasts, and more as businesses globally struggled with an ongoing catastrophic IT outage.
2% target
US inflation ebbs in May as goods prices fall
U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months.
AI code development
Financial industry grappling with AI’s gifts and perils, executives say
The spread of AI-based systems offers big opportunities for financial services firms, but asset managers face higher stakes because they manage sensitive information.