NEW YORK — An international yoga business founder whose chain of yoga studios promoted themselves as “Yoga to the People” pleaded guilty on Friday to a tax charge in a New York federal court. Gregory Gumucio, 63, of Colorado, apologized as he admitted not paying over $2.5 million in taxes from 2012 to 2020. He … Read more
Nearly 50,000 dockworkers launched a strike this week at ports from Maine to Texas — but, in a bizarre quirk that has resulted from massive concessions to the union over the decades, the affected ports only employ 25,000. There’s a massive gulf in the numbers between those who show up for work and total membership … Read more
The Dow closed at an all-time high Friday as a stronger-than-expected jobs report reassured investors who had worried the economy may be getting too weak. The Dow Jones Industrial Average jumped 341.16 points, or 0.8%, to 42,352.75, eclipsing its previous high of 42,330.15 on Monday. The S&P 500 gained 0.9% and the Nasdaq gained more than 200 points, … Read more
U.S. stocks closed higher after a surprisingly strong U.S. jobs report raised optimism about the economy. The S&P 500 added 0.9% Friday and neared its all-time high set on Monday. The Dow climbed 0.8% and reached its own record. The Nasdaq rose 1.2%. Banks, cruise-ship operators and other companies whose profits can benefit the most … Read more
Former US Treasury Secretary Larry Summers says September’s better-than-expected jobs report shows the Federal Reserve’s half-point rate cut was “a mistake.” Following the Labor Department’s report that employers added 254,000 jobs in September – well above the 140,000 gain that was predicted by LSEG economists – and the unemployment rate declined slightly from a month ago to 4.1%, Summers … Read more
A long-serving former Harrods executive has claimed that his offer to become boss of the department store chain Fenwick was withdrawn because of his time working under Mohamed Al Fayed. Al Fayed, who owned the luxury London store for more than two decades, has been accused of sexual assault or rape by more than 20 … Read more
Toyota Motor Corp. is planning to move away from DEI and pro-LGBTQ events after recently facing online controversy, according to a new report. Bloomberg reported the company sent out a memo to its US employees Thursday saying it will “narrow community activities to align with STEM education and workforce readiness” and no longer participate in the Human … Read more
As East and Gulf Coast ports begin to operate as normal again, one of the country’s top entrepreneurs is weighing in on “the trouble” with union workers’ demands. “The trouble with East Coast ports is they’re very old, they’re very inefficient,” O’Leary Ventures Chairman and “Shark Tank” star Kevin O’Leary said on “Varney & Co.” Friday. “And … Read more
As the conflict across the Middle East widens, rising oil prices are being closely watched. The cost of oil affects everything from the price of food at the supermarket to how much it costs to fill up your car. The price of crude oil has risen almost 10% this week to around $78 a barrel … Read more
The Federal Court has ruled X Corp has to comply with an Australian child sexual abuse transparency notice issued to the social media giant while it was still called Twitter. The Australian eSafety commissioner took the matter to the Federal Court after X Corp challenged a $610,500 fine in September 2023. The fine stemmed from … Read more