Former Sen. Bob Menendez (D-NJ) departs Manhattan Federal Court after his sentencing on Jan. 29, 2025 in New York City.Michael M. Santiago | Getty ImagesA judge sentenced an emotional former Sen. Bob Menendez Wednesday to 11 years in prison Wednesday for a years-long bribery and corruption scheme that saw him rewarded with gold bars and stacks of cash.Menendez had pleaded with U.S. District Judge Sidney Stein for mercy, twice breaking down in tears.”I have lost everything,” Menendez said, after recounting actions he said he had taken to help others while in the Senate, a job he was forced to resign after his…
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President Donald Trump on Wednesday slammed Federal Reserve Chair Jerome Powell and the U.S. central bank, saying they “failed to stop the problem they created with Inflation” and have done a “terrible job on Bank Regulation.”Trump delivered the broadside on Truth Social two hours after the Fed opted to maintain a key interest rate at its current level.Trump’s reaction to the first Fed rate decision of his second term came less than a week after he said he would “demand that interest rates drop immediately.”Powell has stressed the importance of the central bank’s independence from outside influence, and newly confirmed…
Chairman, President and Chief Executive Officer of IBM Arvind Krishna attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, Jan. 22, 2025. Yves Herman | ReutersIBM reported fourth-quarter earnings on Wednesday that topped Wall Street expectations for earnings and revenue.The shares rose 10% in extended trading. It’s the largest rise in IBM’s stock price since March 2020. Here’s how the company did versus LSEG consensus expectations:Earnings per share: $3.92, adjusted, versus $3.75 expectedRevenue: $17.55 billion, versus $17.45 billion expectedIBM reported $2.92 billion in net income, or $3.09 per diluted share, versus $3.29 billion, or $3.55 per share, in…
SOUTH BEND, Ind. — Through warmups and the game, the cell phone sat on the team’s bench.In the small gym in Brookville, N.Y., Long Island, no opponent could match Kate Koval that February night. Her coach yelled to her, calling the plays, and Koval instinctively reacted. Her body was on the court, but her mind was elsewhere.She repeatedly glanced at the bench to see if the phone had lit up or vibrated. She heard all the sounds of the gym — shoes squeaking, buzzers, whistles, fans — but all she focused on was a ring from the sideline. A timeout…
U.S. President Donald Trump speaks during an event to sign the Laken Riley Act, at the White House, in Washington, U.S., Jan. 29, 2025. Elizabeth Frantz | ReutersPresident Donald Trump on Wednesday said he will order his administration to prepare Guantanamo Bay, the U.S. military base on the island of Cuba where terrorism suspects have been held for decades, to detain migrants.Trump, at a ceremony to sign an immigration detention bill into law, said he would also sign an executive order Wednesday instructing his Defense and Homeland Security departments to ready Guantanamo’s “migrant facility.”Trump said there are thousands of beds in…
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in December.Text removed from the December statement is in red with a horizontal line through the middle.Text appearing for the first time in the new statement is in red and underlined.Black text appears in both statements.Zoom In IconArrows pointing outwardsWatch here for Federal Reserve Chair Jerome Powell’s press conference. Source link
When it comes to the latest Federal Reserve decision, it’s more what the central bank didn’t say than what it did that moved the market. The Fed held rates steady in a move almost universally anticipated by investors Wednesday. However, it was the removal of a key phrase in the very first paragraph of the post-meeting statement that raised eyebrows. The Fed eliminated the line that inflation “has made progress toward” its 2% target — which was present in the December statement — and left just the last part of the sentence that states inflation remains “somewhat elevated.” Stocks fell…
Range of possibilities is ‘very, very wide’ for tariff effectsThere is a wide range of possibilities when it comes to the potential effects of tariffs, according to Fed Chair Powell.”The range of possibilities is very, very wide,” he said. “We don’t know for how long or how much, what countries. We don’t know about retaliation. We don’t know how it’s going to transmit through the economy to consumers. That really does remain to be seen.””The best we can do is what we’ve done, which is study up on this and look at the historical experience, read the literature and think…
A person walks by The Spheres at the Amazon.com Inc. headquarters on November 14, 2022 in Seattle, Washington. David Ryder | Getty Images News | Getty ImagesAmazon is laying off some employees in its communications and sustainability units, an executive overseeing the divisions announced internally on Wednesday.In a note to staffers viewed by CNBC, Drew Herdener, Amazon’s head of public relations, wrote that the company is eliminating some jobs in those groups as part of a wider review into the “current org design” of the divisions.”As we examined our current org design and decided on the shifts outlined above, we identified…
Patrick Mahomes couldn’t help himself.A couple hours after leading the Kansas City Chiefs to an AFC championship victory over the Buffalo Bills — a triumph that clinched the team’s third consecutive trip to the Super Bowl and the fifth in the last six seasons — Mahomes pulled out his cell phone, fired up the good ol’ Twitter/X app, loaded the iconic Kermit sipping tea meme and sent out the message: “I’ll see y’all in New Orleans! #ChiefsKingdom.” https://t.co/l8yksh2rWx pic.twitter.com/rgh5x6aSUs — Patrick Mahomes II (@PatrickMahomes) January 27, 2025It was a slick clapback. Kermit jokes are nothing new for Mahomes, who has…
