Category Archives: 24/7 Newsroom News

Hurricane Melissa Leaves Trail of Destruction Across Cuba, Haiti, and Jamaica

Hurricane Melissa Leaves Trail of Destruction Across Cuba, Haiti, and Jamaica

SANTIAGO DE CUBA, Cuba (AP) — Hurricane Melissa has left a trail of destruction across Cuba, Haiti and Jamaica. The storm made landfall Tuesday in Jamaica as a Category 5 hurricane, with winds reaching 185 miles per hour. Officials say at least 25 people have died across Haiti. In Cuba, officials report collapsed houses and…MORE

US Determined to Prevent the Collapse of the Gaza Ceasefire After Overnight Airstrikes

US Determined to Prevent the Collapse of the Gaza Ceasefire After Overnight Airstrikes

JERUSALEM (AP) — Israel’s intense bombardment of the Gaza Strip this week marked the most serious challenge yet for a fragile, U.S.-brokered ceasefire. Gaza health officials said over 100 Palestinians were killed, including dozens of civilians. Israel said one of its soldiers was killed in an attack that helped prompt the fierce Israeli strikes. But…MORE

Rozier and Billups Will Not Receive NBA Salaries While on Leave in Gambling Cases

Rozier and Billups Will Not Receive NBA Salaries While on Leave in Gambling Cases

Miami Heat guard Terry Rozier will not receive his salary while on leave due to his arrest on federal gambling charges. Nor will Portland Trail Blazers coach Chauncey Billups, who has also been placed on leave by the league after his arrest on gambling-related charges last week. That’s according to two people with knowledge of…MORE

Federal Reserve Cuts Key Rate Yet Powell Says Future Reductions Are Not Locked In

Federal Reserve Cuts Key Rate Yet Powell Says Future Reductions Are Not Locked In

WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2%…MORE

Paramount to Lay Off 2,000 Employees Shortly After Its Merger With SkyDance

Paramount to Lay Off 2,000 Employees Shortly After Its Merger With SkyDance

AP Business Writer (AP) — In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun layoffs set to impact about 2,000 employees. Paramount initiated roughly 1,000 of those layoffs company-wide on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity because they…MORE

Starbucks Sales Improve but Store Closures and Layoffs Take a Bite Out of Profits

Starbucks Sales Improve but Store Closures and Layoffs Take a Bite Out of Profits

Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than Wall Street was expecting, according to analysts polled by FactSet. Starbucks’ global same-store sales rose 1% compared to the same period…MORE

AI Chipmaker Nvidia is the First $5 Trillion Company

AI Chipmaker Nvidia is the First $5 Trillion Company

Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier. The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday the shares closed at $207.04 with…MORE