Biz Headlines: Microsoft CEO in Court, United Under Fire Over Cancellations, Judge OKs Bed Bath Deal

In Wednesday's business headlines, Microsoft CEO Satya Nadella is due in court to defend the company's takeover of Activision Blizzard and United Airlines is under fire over its recent cancellations with CEO Scott Kirby blaming the FAA for the disruptions. Meanwhile, a judge approved Overstock's purchase of Bed Bath & Beyond assets.

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Meta Slashes Jobs Across Business and Operation Units in Third Round of Layoffs

Facebook owner Meta on Wednesday cut positions across its business and operations teams in the final round of layoffs that were first announced in March.

FTC Launches Investigation Into Baby Formula Shortage

The Federal Trade Commission (FTC) has launched an investigation into the ongoing shortages of baby formula.

US Economic Growth for Last Quarter Is Revised Up to a Still-Tepid 1.3% Annual Rate

The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday, a slight upgrade from its initial estimate.

Cheddar Morning News Briefings of May 25th

Cheddar Morning News Briefings

Stretching Your Dollar: What to Consider Before Buying a Car

Karl Brauer, executive analyst with Iseecars.com, joined Cheddar News to discuss what to consider if you're in the market for a new or used vehicle.

Mortgage Demands Drop as Rates Soar

New applications along with refinancing for mortgages dropped from a year ago as rates continued to climb.

Nvidia Offers Strong Outlook on A.I. Chip Demand

Nvidia posted strong quarterly results, citing strong demand and plans to significantly increase supply.

Fed Minutes Flag 'Uncertainty' on Future Rate Hikes

Minutes from a recent Federal Reserve meeting showed that members "expressed uncertainty about how much more policy tightening may be appropriate."

Microsoft: China-Sponsored Hackers Hit U.S. Systems

Microsoft said it detected malicious hacking activity against critical U.S. infrastructure by a Chinese state-sponsored group.

The Day Ahead: Earnings, Key Economic Data, National Wine Day

Cheddar News checks in to see what to look out for on The Day Ahead as earnings continue with reports from Gap, Best Buy, Costco Wholesale and Ulta Beauty while key economic data is also due to be released. It's also National Wine Day on Thursday.

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