Business

Hyatt Hotels Executive Chairman Thomas Pritzker resigns over Epstein ties: ‘I deeply regret… my association’

Hyatt Hotels Executive Chairman Thomas Pritzker announced Monday that he is stepping down effective immediately after documents released by the Department of Justice (DOJ) revealed his association with convicted sex offender Jeffrey Epstein.   The executive, 75, told the company’s board that he will not seek re-election at Hyatt’s stockholder meeting…

Social Security’s main trust fund faces depletion in 2032, triggering benefit cuts

A critical trust fund that helps finance Social Security benefits is on track to reach insolvency in 2032, when automatic benefit cuts would occur without action from Congress, a new report finds. The nonpartisan Congressional Budget Office (CBO) released its 10-year budget and economic outlook which projected that Social Security’s Old-Age…

Federal fraud is double previous estimates, LexisNexis Risk Solutions CEO says

The federal government is hemorrhaging around $1 trillion per year due to fraud, Haywood Talcove, CEO of LexisNexis Special Services & LexisNexis Risk Solutions Government, said while testifying at a congressional hearing last week.  The eyewatering figure dwarfs the Government Accountability Office’s numbers.The GAO reports that the nation’s “federal government…

Red Lobster considering more restaurant closures, CEO says

Red Lobster is considering closing more locations as it continues to reevaluate its restaurant footprint in the wake of its 2024 bankruptcy. The seafood chain shuttered roughly 130 restaurants when it went through the bankruptcy process and Red Lobster CEO Damola Adamolekun told The Wall Street Journal in an interview that…

FAA orders airlines to certify merit-based pilot hiring or face investigation

The Federal Aviation Administration is ordering airlines to certify their merit-based hiring practices as part of the Trump administration’s ongoing campaign against DEI programs. Transportation Secretary Sean Duffy announced the new policy on Friday, saying airlines that don’t formally commit to merit-based hiring will be subject to FAA investigation. President…