Thomas Barrabi

Feds probe Alibaba’s cloud unit over national security concerns: report

The Biden administration has reportedly launched a probe of China-based e-commerce giant Alibaba’s cloud-computing unit over concerns it could pose a risk to national security. The investigation is focused on Alibaba’s data storage practices for US clients, sources familiar with the matter told Reuters. Regulators will assess whether the Chinese government could have access to […]Read More

Beijing Winter Olympics tickets won’t be sold to public as

Only “selected” spectators will be invited to attend the 2022 Winter Olympics in Beijing due to safety concerns over the Omicron variant, officials announced on Monday. The Beijing Winter Olympics Organization Committee announced in a statement that tickets won’t be sold to the public “given the current grave and complicated situation of the COVID-19 pandemic.” […]Read More

Apple requiring corporate, store employees to have COVID-19 boosters

Apple has begun requiring its corporate and store employees to submit proof that they’ve received a COVID-19 vaccine booster, according to a report Monday. The company’s policy requires workers to provide proof they’ve received a booster within four weeks of becoming eligible. Employees who dodge the booster requirement will reportedly have to submit to frequent […]Read More

Credit Suisse chairman resigns after breaking COVID-19 protocols

Credit Suisse chairman António Horta-Osório has resigned following claims that he violated COVID-19 protocols on multiple occasions, including by attending Wimbledon last year, the Swiss bank announced Monday. Credit Suisse said Horta-Osório’s exit comes after an investigation commissioned by its board of directors. A preliminary internal investigation found Horta-Osório breached protocol last July when he […]Read More

Retail sales declined in final month of 2021

US retail sales dipped significantly more than expected in December as Americans wrapped up their holiday shopping — while also facing an uptick in COVID-19 cases, ongoing supply chain disruptions and decades-high inflation, according to data released Friday. December retail sales fell 1.9% from November, the Commerce Department said — considerably more than the 0.1% […]Read More

Beyond Meat among most shorted US companies

Short-sellers are aiming to feast on plant-based protein firm Beyond Meat. Beyond Meat currently ranks as one of the most-shorted stocks on the market, according to data from analytics firm S3 Partners. Short positions account for 37 percent of the company’s freely traded shares, the highest ratio among stocks included in the Russell 1000 Index. […]Read More

Manhattan rents hit highest-ever December record as supply plummets

The average cost of Manhattan apartment rentals surged to the highest ever for a December, with landlords demanding double-digit rent increases amid sharply dwindling supply. The median rental price for Manhattan properties, including discounts, hit $3,392 last month — the highest for a December in more than a decade of record keeping and up 21% […]Read More

IRS enters 2022 tax season in backlog ‘crisis’ that could

The Internal Revenue Service is in a state of “crisis” with 2022 tax filing season just a few weeks away, a government watchdog warned in an annual report to Congress this week. National Taxpayer Advocate Erin M. Collins said the public could face “even longer delays” than it did last year as the IRS scrambles […]Read More

Delta posts $408M loss as 8,000 workers test positive for

Delta Air Lines posted a net loss of $408 million in its final quarter of 2021 and warned of upcoming challenges as the Omicron variant drives a surge of COVID-19 cases. The airline canceled more than 2,000 flights since Christmas Eve due to worker shortages and bad winter weather, CEO Ed Bastian said. Approximately 8,000 […]Read More

US jobless claims jump to 230K during Omicron surge

The number of US workers filing unemployment claims ticked higher this week as employers contend with the ongoing Omicron variant surge, according to weekly data on jobless claims released Thursday. Data released by the Labor Department showed 230,000 initial jobless claims for the week ending on Jan. 8. The tally was up from last week’s […]Read More