Author: News Room

Dear Tripped Up,In September 2022, I booked a 17-day Arabian Sea cruise through Vantage Travel Services to celebrate my 80th birthday with my wife. The cruise was to set sail in October 2023. I used my credit card to leave a $2,000 deposit and paid the remaining $17,905 shortly afterward by bank transfer. I also bought the Worldwide Trip Protector plan from Travel Insured International (for $1,954), in part because it covered financial default and bankruptcy of cruise lines. Vantage then canceled the cruise and offered me an alternative date I could not make; I also declined their offer of…

The Supreme Court rejected a challenge on Thursday to the way the Consumer Financial Protection Bureau is funded, one that could have hobbled the bureau and advanced a central goal of the conservative legal movement: limiting the power of independent agencies.The vote was 7 to 2, with Justice Clarence Thomas writing the majority opinion.Had the bureau lost, the court’s ruling might have cast doubt on every regulation and enforcement action it had taken in its 13 years of existence, including ones concerning mortgages, credit cards, consumer loans and banking.The central question in the case was whether the way Congress chose…

On Thursday, “Young Sheldon,” the successful CBS spinoff of “The Big Bang Theory,” will air its final episode, concluding a seven-year run.“Young Sheldon” never quite captured the same spot in the zeitgeist as its predecessor. But the series does have an unusual distinction: The overall run of the show mirrors the story of the television business over the last seven years. Here’s how.A ‘Peak TV’ BeginningOn the one hand, “Young Sheldon” had the ingredients for a surefire hit. “The Big Bang Theory” was a big success, and could help bring a strong lead-in audience. The new show had the CBS…

Inflation euphoria goes global Stocks in Asia and parts of Europe rose on Thursday as investors bet that new data showing inflation easing would finally persuade central bankers to lower interest rates from multidecade highs. The rally has pushed stock indexes on both sides of the Atlantic into record territory.Another test comes on Thursday when Walmart, a bellwether for U.S. consumer sentiment, reports quarterly results.The market moves follow Wednesday’s Consumer Price Index report, which came in better than expected. The data showed that so-called core inflation, which strips out volatile food and fuel costs, rose by 3.6 percent on an…

The NewsWalmart, the largest retailer in the United States, on Thursday reported higher sales and profit in the first quarter, giving insight into how consumer spending is weathering the high-interest-rate environment.The Numbers: Sales grew in stores and especially online.Walmart said its comparable-store sales in its U.S. business rose 3.8 percent from the quarter a year earlier. Its global e-commerce business jumped 21 percent. Walmart has performed better than retailers dependent on apparel sales, in part because it also sells essential goods like groceries. Consumers are continuing to find places to cut back on their purchasing.Transactions were up 3.8 percent, while…

European Union regulators on Thursday opened investigations into the American tech giant Meta for the potentially addictive effects Instagram and Facebook have on children, an action with far-reaching implications because it cuts to the core of how the company’s products are designed.Meta’s products may “exploit the weaknesses and inexperience of minors” to create behavioral dependencies that threaten their mental well-being, the European Commission, the executive branch of the 27-member bloc, said in a statement. E.U. regulators could ultimately fine Meta up to 6 percent of its global revenue, which was $135 billion last year, as well force other product changes.The…

Since 2006, Cartier has championed female entrepreneurs whose business ventures have a positive effect on society and the environment.Cartier, the Richemont-owned jewelry house, is doing this through a program called the Cartier Women’s Initiative. The initiative awards women-owned or female-led businesses from any sector with grant money, networking opportunities, loans and professional advice designed to help them overcome barriers including underfunding and lack of access.Until last year, the program was exclusively female-focused. But in 2023, Cartier invited men into the fold: The company introduced a new diversity, equity and inclusion pilot award to the program to reward entrepreneurs — regardless…

More than 5,000 Mercedes-Benz workers in Alabama are voting this week on whether to join the United Automobile Workers union, a decision both supporters and opponents say will have consequences far beyond two factories near Tuscaloosa where the German carmaker churns out luxury sport utility vehicles and batteries for electric cars.Conservative political leaders have portrayed the union campaign to organize Mercedes workers as an assault by outsiders on the region’s economy and way of life. The vote tally is expected to be released by federal officials on Friday.Six Southern governors, including Kay Ivey, an Alabama Republican, issued a statement last…

The driver of a waste disposal truck was rushed to a hospital on Wednesday following an incident at the Phoenix campus of the Taiwanese chip giant Taiwan Semiconductor Manufacturing Company, which is under construction.Local media reported that an explosion had occurred that, the company said in a statement, did not damage the facility. The truck driver is a contractor, and no TSMC employees or construction workers were injured, the statement said. Fire officials did not immediately return calls seeking comment.TSMC makes the majority of the world’s advanced semiconductors. Last month, the Biden administration awarded the company a $6.6 billion grant…

When President Donald J. Trump left office, some of Wall Street’s biggest names, who had taken to him during his first term in the White House, swore they were moving on from him for good. They were fatigued by his leadership style, disappointed by some of his policies and shocked by the U.S. Capitol riot. Some of them even savaged him publicly.Their stated distaste didn’t last. With Mr. Trump leading in the polls, big financiers on Wall Street, in Silicon Valley and elsewhere are edging into his corner, according to interviews with more than a dozen people who sought anonymity…