CHICAGO — Netflix plans to lay off about 6% of its workforce, amounting to nearly 1,000 positions, as the streaming giant makes wider “organizational changes.” Co-CEOs Greg Peters and Ted Sarandos announced the job cuts in a memo to employees Wednesday. They said the company’s ...
Florida has won a key court decision in a case involving a ban on social media accounts for kids under 14. Gov. Ron DeSantis signed the law in 2024 as a way to protect kids from social media addiction. A federal appeals court overturned an injunction from a lower court. The appeals court says the law implicates the First Amendment but does so it in a way that is content neutral. The law bans social media accounts for Florida children under 14 and requires parental consent for kids who are 14 or 15. GlobalFoundries to open two new chip plants Semiconductor contract manufacturing and ...
WASHINGTON — Federal Reserve governor Lisa Cook’s lawyers say that a committee set up by the White House last week to investigate an accusation against her is “demonstrably biased,” though they did not close the door on the possibility that she would appear before the panel. Lawyer Abbe Lowell also said in a letter Tuesday that Cook would not be able to participate in a hearing Nov. 5 because she “will be executing her official duties as Governor at financial and monetary policy meetings in Europe.” The earliest that Cook could appear before a “committee of inquiry” ...
WASHINGTON — The U.S. Treasury Department said Tuesday that it’s imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws. The fines on America’s second-biggest bank amount to the third-largest in the department’s ...
BRUSSELS — Political tensions mounted Tuesday over the European Union’s next long-term budget as pressure builds to get the spending package agreed before a series of unpredictable elections in some of the biggest member countries next year. The EU budget, known as the multiannual financial framework, amounts to around 1.2% of the 27-nation bloc’s gross national income. The MFF is financed mostly by the member countries based on the size of their economies. The spending plan is the cash point where EU ambitions, conflicting policy priorities and economic realities collide and ...
The Supreme Court has agreed to hear arguments in a watchdog’s lawsuit seeking public records about billionaire Elon Musk’s Department of Government Efficiency. The high court said on Tuesday that it will intervene for a second time in Citizens for Responsibility and Ethics in Washington’s case, which seeks access to DOGE records. Last year, the high court reined in a district court’s order for the government to produce DOGE-related records to CREW. The high court concluded that the district judge ruled too broadly in ordering documents to be turned over. A CREW attorney said ...
