Business
Government to Cancel $6 Billion in Student Loans for Defrauded Borrowers

Around 200,000 former students who attended schools that they said had defrauded them will have $6 billion in federal loans canceled under a sweeping settlement announced on Wednesday, the latest move by the Biden administration to address the student loan crisis by eliminating some debts. Those who applied for relief — some as long as […]

Updated: Jun 23, 2022
Russia Cuts Gas Flows as Europe Races to Stock Up for Winter

Germany’s largest storage chamber for natural gas stretches underneath a swath of farmland the size of nine soccer fields in the western part of the country. The bucolic area has become a kind of battlefield in Europe’s effort to defend itself against a looming gas crisis driven by Russia. Since last month, the German government […]

Updated: Jun 23, 2022
To Pressure Taiwan, China is Now Targeting its Grouper Exports

FANGLIAO, Taiwan — Lin Chun-lai bought his grouper farm in southern Taiwan about a decade ago with an eye on mainland China’s growing appetite for live fish. In just a few years, the former electrician made enough money to comfortably support his family of four and even open a small inn. Then China abruptly banned […]

Updated: Jun 22, 2022
Latest Stock Market and Business News for June 21, 2022

Alicia Boler Davis, the senior vice president who oversees Amazon’s fulfillment operations, and David Bozeman, the vice president overseeing its trucking operations, are both leaving, according to four people familiar with the change.Credit…Pascal Rossignol/Reuters Two of Amazon’s most senior Black executives are departing the company, according to four people familiar with the change, leaving Amazon […]

Updated: Jun 22, 2022
Meta Agrees to Alter Ad-Targeting Tech in Settlement With U.S.

SAN FRANCISCO — Meta agreed to alter its ad-targeting technology and pay a penalty of $115,054 on Tuesday, in a settlement with the Justice Department over claims that the company had engaged in housing discrimination by letting advertisers restrict who was able to see ads on the platform based on their race, gender and ZIP […]

Updated: Jun 21, 2022
When Customers Say Their Money Was Stolen on Zelle, Banks Often Refuse to Pay

Argelys Oriach was on his way home from a shopping trip one evening in March when he was robbed at gunpoint. The thief demanded his iPhone and passcode. Mr. Oriach turned them over and fled. The next morning, Mr. Oriach, who lives in Brooklyn, said he discovered that the thief had drained $8,294 from his […]

Updated: Jun 21, 2022
Red Flags for Forced Labor Found in China’s Car Battery Supply Chain

The photograph on the mining conglomerate’s social media account showed 70 ethnic Uyghur workers standing at attention under the flag of the People’s Republic of China. It was March 2020 and the recruits would soon undergo training in management, etiquette and “loving the party and the country,” their new employer, the Xinjiang Nonferrous Metal Industry […]

Updated: Jun 20, 2022
Tracking the Fear Index on Wall Street

Wall of worry The U.S. stock market, as measured by the S&P 500, tumbled more than 3 percent yesterday, dragging it deeper into bear market territory. This morning, futures markets suggest there will be a rebound, but the S&P is still well on track to record its 10th weekly decline of the past 11 weeks. […]

Updated: Jun 19, 2022
‘Lightyear’ Opens at No. 2, as ‘Jurassic World’ Holds Strong

Buzz Lightyear failed to reach box office hyperspace over the weekend. But it was unclear why. “Lightyear,” the first Pixar movie to be released in theaters in more than two years, sold an estimated $51 million in tickets at 4,255 locations in the United States and Canada in its first three days in release, according […]

Updated: Jun 19, 2022
Apple Workers at Maryland Store Vote to Unionize, a First in the U.S.

Apple employees at a Baltimore-area store have voted to unionize, making it the first of the company’s 270-plus stores in the United States to join a trend in labor organizing sweeping through retailers, restaurants and tech companies. The result, announced on Saturday by the National Labor Relations Board, provides a foothold for a budding movement […]

Updated: Jun 19, 2022