Apple Says Senate’s Big-Tech Legislation Would Weaken Its User-Privacy Push

Apple Inc. AAPL -1.89% is warning that Senate legislation aimed at reining in large tech companies would weaken a privacy-protection tool that it rolled out last year and has already stung Facebook, Snapchat and other online-ad businesses reliant on user data to target messages. The Senate Judiciary Committee is set to debate a bipartisan bill, … Read more

Citigroup Sticks With Its Covid-19 Vaccine Mandate, While GE Drops Its Rules

Citigroup Inc. C -1.25% is sticking with its Covid-19 vaccine mandate for its U.S. workers. General Electric Co. GE 0.68% is not. The two American companies are going in opposite directions after the Supreme Court blocked Thursday the Biden administration’s rule that big employers require their employees to get vaccines or submit to testing. Citigroup, … Read more

DirecTV to Drop OAN Conservative News Channel

DirecTV said Friday it plans to drop conservative news channel One America News Network, a move that could sharply reduce the pro-Trump channel’s audience. “We informed Herring Networks that, following a routine internal review, we do not plan to enter into a new contract when our current agreement expires,” a DirecTV spokesman said in a … Read more

Fed Releases Transcripts of 2016 Policy Meetings

Transcripts released by the Federal Reserve on Friday revealed the extent of officials’ 2016 debate over how fast to move up interest rates after lifting them from near zero at the end of the previous year. Much of the discussion turned on geopolitical developments—first as a slowdown in China and in commodity prices threatened to … Read more

‘Pharma Bro’ Martin Shkreli Banned for Life From Drug Industry, Ordered to Pay Nearly $65 Million

Martin Shkreli, who was widely criticized as “pharma bro” for raising the price of a lifesaving AIDS drug, was banned for life from the pharmaceutical industry Friday after a federal court found that the imprisoned former executive engaged in illegal and monopolistic behavior. Mr. Shkreli was also ordered to pay nearly $65 million in profits … Read more

Biden Taps Economists Lisa Cook, Philip Jefferson for Fed Seats

President Biden will seek to fill two seats on the Federal Reserve’s Board of Governors with academic economists Lisa Cook of Michigan State University and Philip Jefferson of Davidson College, the White House said Thursday. Mr. Jefferson, vice president for academic affairs and dean of faculty at Davidson in North Carolina, has spent most of … Read more

Raskin Could Face Rough Confirmation Battle For Banking Supervision Post

WASHINGTON— Sarah Bloom Raskin, President Biden’s pick to become the Fed’s top banking regulator, could face a contentious nomination process due to her support for tougher banking rules and for using financial regulation to address climate-change positions cheered by progressives but criticized by some Republicans. Still, Ms. Raskin is unlikely to face the kind of … Read more

U.S. Retail Sales Fell 1.9% in December

U.S. retail sales dropped by 1.9% in December as the Covid-19 Omicron variant and inflation surged, damping the end of the holiday shopping season. December’s sharp decline followed record-level retail sales that started with a 1.8% gain in October from the prior month. Sales at retail stores, online and restaurants grew 16.9% in December when … Read more

U.S. Jobless Claims Rise to 230,000

Filings for jobless claims rose to a seasonally adjusted 230,000 last week, an increase of 23,000, as a tight U.S. labor market has kept applications near pre-pandemic lows for the past two months. The increase in the Jan. 8 week came as employers dealt with workers calling in sick because of the Omicron variant of … Read more

U.S. Inflation Reaches Fastest Pace Since 1982

U.S. inflation closed out 2021 at its highest level since 1982 as robust consumer demand exacerbated pandemic-related supply shortages. The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—rose 7% in December from the same month a year ago, up from 6.8% in November. That was the fastest pace since … Read more