In response to years of mismanagement, with a side order of money laundering, Credit Suisse was subject to a forced sale to UBS with a backstop from the Swiss government to the tune of ₣12,500 ($13,00.00) for every man, woman, and child in Switzerland, a total of ₣109,000,000,000.00. But it’s…

Howard Schultz, long time head of Starbucks and a union busting son of a bitch, is stepping down as CEO of the coffee giant. (again) He’s leaving 2 weeks early, just before the annual meeting, and just before he testifies before Congress. His behavior over the years has been appalling…

Initial claims were basically unchanged, dropping to 191,000 from last week’s 192,000, seasonally adjusted. Worker filings for unemployment benefits held nearly steady last week, showing that the broader labor market remains robust despite large companies announcing layoffs. Initial jobless claims, a proxy for layoffs, decreased slightly by 1,000 to a…

In Australia, the Select Committee on Foreign Interference (Talk about setting something up with a preordained conclusion) commissioned a study which concluded that (surprise) TikTok is not really a privately owned firm, but rather an arm of the government of China. Of course, this means that the app can be…

The beatings will continue until the morale improves So, the Federal Reserve only raised its benchmark Federal Funds rate by 25 basis points (¼%) today. They are attempting to forestall a wage price spiral, one which is not remotely close to actually happening, given that inflation is was at 6%…

We’ve won our lawsuit over Matt Hancock’s £23m NHS data deal with Palantir (openDemocracy) I’d sooner give my personal medical data to Dick Cheney than I would to Peter Thiel’s spy machine. Noam Chomsky: The False Promise of ChatGPT (New York Times) While better known of his radical politics, Chomsky’s…

Nothing to see here, move along As Silicon Valley Bank was circling the drain, it was engaging in an orgy of loans to insiders. Looting much? The executives at this bank need to have their lives and their finances investigated with an eye toward criminal prosecutions. I would suggest that…

We just got some more genetic background on the origins of Covid-19, and it appears that the a precursor to human infection was in a fox-like canid known as a raccoon-dog: For three years now, the debate over the origins of the coronavirus pandemic has ping-ponged between two big ideas…

After being told to preserve records by the US Department of Justice, Google continued to have its chats auto-delete in direct contravention of those instructions. At this point, it’s not enough to make them pay a few bucks, that is just a cost of doing business. …