Cheddar News takes a look at The Day Ahead for Wednesday, as Fed Chair Jerome Powell continues to testify on Capitol Hill about the central bank's monetary policy. Employment data and more earnings are also expected to be released.
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IRS to Waive $1 Billion in Penalties for People and Firms Owing Back Taxes for 2020 or 2021
The IRS said Tuesday it is going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 per year for tax years 2020 and 2021.
Rite Aid Banned From Facial Recognition Tech Use for 5 Years After Faulty Theft Targeting in Stores
Rite Aid has been banned from using facial recognition technology for five years over allegations that a surveillance system it used incorrectly identified potential shoplifters, especially Black, Latino, Asian or female shoppers.
Pilots Union Reaches Agreement With Southwest Airlines
The union representing Southwest Airlines pilots says it reached a new contract agreement in principle with the airline following three years of negotiations.
U.S. Bank Fined $36 Million for Freezing Debit Cards During Pandemic
U.S. Bank has been hit with a $36 million fine for freezing debit cards that distributed unemployment benefits during the pandemic.
New Home Construction Up More Than Expected in November
Construction of new homes rose by double digits in November, according to data from the Commerce Department.
Securitize: Private Credit Boom Is Now Here
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks Open Lower and Face First Decline in 10 Days
Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
Study: Tesla Drivers Involved in More Accidents This Year
Tesla drivers in the U.S. were in more accidents than drivers of any other car brand this year, according to a study.
Love It or Hate It, Self-Checkout Is Here to Stay. But It's Going Through a Reckoning
The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs.
