Business News

AM Business Notebook

>> Americans Owe Over A Trillion Dollars On Credit Cards

(New York, NY) -- Americans owe over a trillion dollars on their credit cards. That's according to a new report on household debt from the Federal Reserve Bank of New York. It found that credit card balances spiked by over 150-billion-dollars year over year. It's the largest increase this century.

 

>>Employee Attrition Rates Declining Precipitously

(New York, NY) -- More people are deciding to stay at their jobs. White-collar job turnover has declined so steeply at some large employers that companies now find themselves over budget on certain teams and projects. Hiring slowed in October, with U.S. employers adding half as many jobs as they did in September. The unemployment rate rose to three-point-nine-percent, but is still hovering near historic lows, according to the Labor Department. Nationally, the quits rate remained at two-point-three-percent in September for the third month in a row, down from a three-percent peak in April 2022. This year, 73-percent of workers said they planned to stay at their jobs, up from 61-percent last year.

 

>>SAG-AFTRA Strike Could Soon Be Over

(Los Angeles, CA) -- The actors strike could soon come to a close. According to Deadline, SAG-AFTRA and motion picture and television studios have reportedly reached an agreement on the use of artificial intelligence. The use of AI to recreate actors' likenesses has been a major topic in negotiations, as well as revenue sharing. The union's lead negotiators and studios met on Tuesday in what could be the final phase to sealing a new deal and the end to the more than three-month strike.

 

>>Americans Owe Over A Trillion Dollars On Credit Cards

(New York, NY) -- Americans owe over a trillion dollars on their credit cards. That's according to a new report on household debt from the Federal Reserve Bank of New York. It found that credit card balances spiked by over 150-billion-dollars year over year. It's the largest increase this century. Credit card delinquency rates also went up, especially among millennials burdened with high levels of student loan debt.

 

>>Detroit City Council Weighing Strikers Bill Of Rights

(Detroit, MI) -- Striking Detroit casino workers are asking city council to pass the Detroit Strikers Bill of Rights resolution. Hundreds of people filled the Detroit City Council auditorium on Tuesday to show their support for the package. The resolutions would requires vehicles to stay 50 feet away, keep barriers off of sidewalks, allow drivers to honk in support and would allow strikers to have heat sources without the threat of confiscation or ticket. The council is expected to vote on the measure next week.

 

>>Sony To Remove Support For X From PlayStation

(San Mateo, CA) -- Sony will soon remove support for the social media platform X from its PlayStation video game consoles. The company said users will no longer be able to view or post content on X from PlayStation 5 and PlayStation 4 consoles starting November 13th. Sony did not provide a reason for the change, but X announced earlier this year it would start to charge companies as much as 210-thousand dollars a month to access its application programming interface. X owner Elon Musk claimed the previous free access to the API was being abused by bot scammers. Microsoft dropped support for X from its Xbox video game console in April.

 

>>Mets Owner Unveils Plans For Casino

(Flushing, NY) -- New York Mets owner Steve Cohen is unveiling his plan for a casino in Queens. The proposed entertainment complex, dubbed "Metropolitan Park," would be an eight-billion-dollars gaming center, hotel and music venue near Citi Field. There would also be 20 acres of green space. Cohen is vying for a casino license, which under state law, only three new licenses could be issued in the downstate region.

On Air Now

Financial Focus with Tyler Simones and Josh Fenili
10:00am - 12:00pm
Financial Focus with Tyler Simones and Josh Fenili

FlashAlert

KBND ON FACEBOOK

News Disclaimers