Business

Saks Global, the parent company of Saks Fifth Avenue, has filed for Chapter 11 bankruptcy protection, a move precipitated by significant debt incurred after acquiring rival Neiman Marcus in 2024. This development underscores the challenges faced by luxury retailers in adapting to shifting consumer preferences and economic uncertainties.

Elon Musk's Grok chatbot has restricted certain Imagine image generation capabilities to paying X subscribers, following global controversy over the AI's ability to "digitally undress" individuals, including minors.

The United States experienced a modest increase in employment with an estimated 50,000 jobs added in December, marking the weakest annual job growth since 2003. This growth was predominantly fueled by the health care and social assistance sectors, with leisure and hospitality also contributing to the gains.

A recent Forbes report highlights the financial landscape of America's wealthiest Black billionaires, who collectively hold a net worth of $54.9 billion. Topping the list is Alexander Karp, co-founder and CEO of Palantir, with an impressive net worth of $16.1 billion.

A federal judge has mandated that the Trump administration maintain funding for the US Consumer Financial Protection Bureau, dismissing its recent effort to dismantle the regulatory body.

The expiration of the Affordable Care Act's enhanced premium subsidies is poised to significantly impact millions of Americans, who may face increased health insurance costs in 2026 or risk going uninsured.

Despite fears of AI taking jobs, new research from Vanguard finds that jobs with high AI exposure are actually growing faster than other occupations, and wages are also increasing.

The US labor market is showing signs of strain as small businesses reported a significant loss of 32,000 jobs in November, the largest decline in over two years. This downturn reflects the ongoing challenges posed by escalating costs and economic uncertainty.

The Bessemer City Council has approved the rezoning of a wooded area for the development of a $14.5 billion hyperscale data center, despite public opposition and dissent from two council members. Concerns have been raised regarding the project's substantial water consumption, potential environmental impact, and the developer's lack of transparency.

There is something tender and knowing in the way Isiah Thomas speaks about the earth. It is the tenderness of a man who understands struggle and sunlight, who respects what grows slowly and what survives storms.