Author: Jamie Carpenter

Wall Street gains as Fed eases leverage rules to boost Treasury market America’s biggest banks could unlock as much as $6 trillion in balance sheet capacity under a new Federal Reserve proposal to ease capital rules. The plan, aimed at boosting liquidity in U.S. Treasury markets, marks a significant shift in bank regulation under the leadership of Fed Vice Chair for Supervision Michelle Bowman. On Wednesday, the Fed voted 5-2 to approve a revamp of the “enhanced supplementary leverage ratio” (eSLR), which currently requires banks to hold capital against all assets equally — even those considered low-risk like U.S. Treasuries.…

Washington Post ranking crowns PDX top U.S. airport for design, vibes, and local flavor Portland International Airport (PDX) has officially been named the best airport in the United States, according to a new ranking by the Washington Post. The honor comes after years of critical acclaim, a sweeping renovation, and a commitment to comfort, community, and culture that’s hard to find in the world of air travel. The ranking evaluated over 450 airports nationwide, combining data analysis with more than 2,300 reader responses. At the top of the list: Portland — ahead of Minneapolis-St. Paul (MSP), Washington Reagan (DCA), and…

Layoffs signal a strategic shift toward user experience over growth Bumble announced Wednesday it will lay off nearly a third of its workforce, marking a major restructuring as the dating app pivots to improve its user experience. The company will eliminate 240 roles, or about 30% of its staff, while simultaneously raising its second-quarter revenue forecast. Shares of Bumble jumped 19% following the announcement. However, the company’s market value remains just above $500 million — a steep fall from its 2021 IPO peak of around $15 billion, according to LSEG data. The layoffs come as part of a broader effort…

CEO Hints at Lounges, Long-Haul Routes to Compete for High-End Travelers Southwest Airlines is rethinking its traditional low-cost approach as it eyes a more premium future. In a major shift, CEO Bob Jordan said Wednesday the carrier is exploring options such as airport lounges, first-class seating and even long-haul international routes to better serve higher-spending customers. “We won’t take any of that off the table,” Jordan said during an interview with CNBC at an airport industry conference. “We know we send customers to other airlines because there are some things you might want that you can’t get on us.” The…

NTSB blames Boeing, FAA for system failures that risked lives National Transportation Safety Board Chair Jennifer Homendy said Tuesday that Alaska Airlines Flight 1282’s crew saved lives when a door plug panel detached midair in January 2024—but that they never should have been put in that position. “This accident never should have happened,” she said, citing critical failures by Boeing and the FAA. The NTSB investigation found that bolts meant to secure the panel were removed and never reinstalled during repairs at a Boeing factory. The panel, covering a deactivated emergency exit, detached just minutes after takeoff from Portland, Oregon,…

July 2 will mark the official end of their fast-food partnership Krispy Kreme and McDonald’s are terminating their partnership, with doughnut sales in McDonald’s restaurants officially ending on July 2, the companies announced Tuesday. The decision comes after months of underwhelming performance and paused rollout plans. Originally intended to bring Krispy Kreme doughnuts to McDonald’s nationwide by 2026, the collaboration had expanded to 2,400 McDonald’s locations. But sales momentum faltered, leading to a pause in May and Krispy Kreme’s withdrawal of its full-year financial outlook amid broader economic softness. “Ultimately, efforts to bring our costs in line with unit demand…

Veteran, visionary, and philanthropist remembered for lifelong service Fred Smith, founder of FedEx and decorated Marine Corps veteran, passed away at 80, the company confirmed. Widely regarded as a logistics visionary, Smith revolutionized global delivery services while dedicating his life to public service and philanthropy. After graduating from Yale in 1966, Smith served two combat tours in Vietnam, earning the Silver Star, Bronze Star, and two Purple Hearts before leaving the military in 1969 as a captain. His military experience would profoundly shape his business philosophy and leadership style. From battlefield to boardroom In 1973, Smith launched FedEx from humble…

Protesters decry billionaire’s event as symbol of inequality Environmental group Greenpeace joined growing protests on Monday against the high-profile wedding of Jeff Bezos and journalist Laura Sanchez in Venice, criticizing the billionaire for “renting” a city plagued by over-tourism and economic fragility. With up to 200 VIP guests expected — including Ivanka Trump and Jared Kushner — the three-day celebration has been dubbed the “wedding of the century.” Yet not all are impressed. Greenpeace activists and UK group “Everyone Hates Elon” unfurled a massive banner in St Mark’s Square, reading: “If you can rent Venice for your wedding you can…

Pavel Durov outlines unusual inheritance plan tied to personal legacy and privacy battles Pavel Durov, founder and sole owner of the encrypted messaging app Telegram, has revealed plans to divide his multi-billion dollar fortune among more than 100 children he claims to have fathered — including six official children and many born via sperm donation across 12 countries. In an interview with French magazine Le Point, the 40-year-old Russian tech billionaire said he recently finalized his will to ensure his children receive equal rights to his estate. “I don’t want them to tear each other apart after my death,” Durov…

Expedition and Navigator models face potential fluid leaks and reduced braking Ford is recalling nearly 274,000 of its 2022–2024 Expedition and Lincoln Navigator SUVs in the U.S. due to a defect that could result in brake failure, raising the risk of crashes. The issue stems from the front brake lines potentially coming into contact with the engine air cleaner outlet pipe, according to the National Highway Traffic Safety Administration (NHTSA). The affected vehicles include 223,315 Ford Expeditions and 50,474 Lincoln Navigators. The defect may cause brake fluid to leak and diminish braking function. While Ford estimates that only 1% of…