The FCC Chairman is being investigated for potential collusion. Last year, Ajit Pai changed the law which dictates how many stations a TV broadcaster can own. This paved the way for Sinclair Broadcasting's purchase of Tribune Media for $3.9 billion. Now, investigators are looking into whether Pai improperly colluded with Sinclair to change these rules.
Snap CEO Evan Spiegel is defending the controversial app redesign after growing backlash. At a conference, Spiegel said the widespread criticism validates Snapchat's mission. The update rolled out globally a few days ago and has faced sharp backlash from teens and even celebrity influencers like Chrissy Teigen. The new Snapchat separates friends and family from celebrities and media. A petition to revert back to the old version has already picked up 1 million signatures.
The much-anticipated Marvel film "Black Panther" hits theaters Friday. Sean O'Connell, managing editor of CinemaBlend, says the film could rake in up to $170 million on opening weekend. On Thursday evening alone, the movie generated $25 million. O'Connell also talks about the significance of this film for people of color in Hollywood. The cast of the film is almost entirely made up of black actors. O'Connell says this is just the beginning of the movie industry becoming more diverse.
Skip Kodak, SVP of LEGO Americas Group, joins Cheddar to discuss the 60th anniversary of the company. To celebrate the occasion, a 10-foot-tall LEGO structure is on display in New York City. Kodak talks about the challenges the company is facing to stay competitive in a tech-centric world. He also weighs in on LEGO's efforts to break into the Chinese market.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.
