Tag Archives: MoneyWatch

Here’s why there are so many billion

One lucky person could win a fortune on Tuesday in the Mega Millions lottery, which has ballooned to $1.1 billion. Hitting the jackpot would give someone a series of annuity payments for across 30 years, or the winner could opt for a one-time cash option of $568.7 million. The winner …

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Biden signs bill to ensure “reasonable” phone rates for inmates

President Joe Biden on Thursday signed into law a bill aimed at easing the cost for prisoners to call family and friends. The legislation clarifies that the Federal Communications Commission, which regulates interstate and international communications through cable, radio, television, satellite and wire, can set limits for fees on audio …

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Southwest Airlines resumes fairly normal flight schedule after week of chaos

Southwest Airlines returned to a relatively normal flight schedule Friday as the carrier sought to make amends with thousands of passengers whose holiday travel plans were upended after a winter storm last weekend. The Dallas carrier, which had canceled thousands of flights every day this week, reported less than 50 …

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Year

The 2023 tax season is already looking stressful, with the IRS’ returns backlog growing and the agency warning Americans that their refunds might come later than usual. Millions of U.S. taxpayers may also see smaller refunds. But there’s a handful of steps taxpayers can take now to set themselves up for …

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Ram recalls 1.4 million pickup trucks because tailgates can open unexpectedly

Stellantis is recalling about 1.4 million pickup trucks worldwide because the tailgates may not close completely and cargo could spill onto the road. The recall covers Ram 1500, 2500 and 3500 pickups from the 2019 to 2022 model years. The company, formerly Fiat Chrysler, says it found that striker plates …

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Narcan maker says anti

Americans may soon no longer need a prescription to buy a life-saving nasal spray for people who overdose on opioids. Emergent BioSolutions on Tuesday said the Food and Drug Administration has fast-tracked its application for an over-the-counter version of Narcan, a nasal-spray form of naloxone. Approved in 2015, Narcan and …

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DoorDash cuts 1,250 jobs following pandemic surge, citing ballooning costs

DoorDash is eliminating about 1,250 corporate jobs, or about 6% of its workforce, saying it hired too many people when delivery demand surged during the COVID-19 pandemic. CEO Tony Xu said in a message to employees Wednesday that DoorDash was undersized before the pandemic and sped up hiring to catch up …

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Twitter was once a necessity for major brands. Under Elon Musk, it’s now “high risk.”

Twitter was once the place where major brands promoted new products, responded to customer complaints and honed their image. But after less than three weeks of ownership under Elon Musk, the social media service is now viewed as “high risk” by one major advertising company — and other big brands …

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Nigerian Instagrammer sentenced to 11 years for money laundering

A prominent social media influencer from Nigeria has been sentenced to 11 years in federal prison for his role in operating a worldwide money laundering scheme. Ramon Abbas, who went by @hushpuppi on Instagram, must also pay back $1.7 million as part of his sentence, a California judge ordered this …

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Mortgage rates blow past 7% for first time in two decades

The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve’s aggressive rate hikes intended to tame inflation not seen in some 40 years. Mortgage buyer Freddie Mac reported Thursday that the average on the key …

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