Gathered beneath the iconic whale exhibit at the American Museum of Natural History, the New York fashion elite convened for the CFDA Awards, a spectacle that has become a staple in the city's fashion calendar. For the second consecutive year, the whale bore witness to a sea of elegance and sophistication, a testament to the creativity and flair of the fashion community.

On Wednesday, the Federal Reserve made a significant monetary policy decision by reducing interest rates by 25 basis points, marking the third consecutive rate decrease since the initiation of easing measures in September. This latest adjustment has positioned the central bank's key lending rate within a range of 4.25% to 4.5%, the lowest it has been in two years. The choice to lower rates was not a unanimous one, reflecting the ongoing debate on how to alleviate the strain on the U.S. economy from high interest rates while maintaining the vitality of the labor market. Federal Reserve Chairman Jerome Powell characterized the most recent rate reduction as "a closer call," highlighting that recent inflation data was "the single biggest factor" influencing the policymakers' deliberations. Cleveland Fed President Beth Hammack was the sole dissenting voice, advocating for the maintenance of the current rate levels.

On Wednesday, the Dow Jones Industrial Average took a nosedive, plunging into the abyss of a decade-long losing streak—a record not seen since the Gerald Ford presidency. This plummeting performance extended the index's downward spiral, leaving investors reeling and market watchers scratching their heads. The Dow concluded the trading day with a staggering loss of approximately 1,123 points, or 2.6%, after the Federal Reserve's policy statement sent shockwaves through the financial world.

KFC, renowned for its "finger lickin' good" tagline, is set to redefine this phrase with the launch of "Saucy," a new prototype restaurant in Orlando that deviates from the brand's classic red and embraces a vibrant pink theme. Slated to open next Monday, Saucy is designed to spotlight 11 innovative dips and chicken tenders, catering to the adventurous palates and boneless chicken preferences of Generation Z. This initiative comes at a time when KFC, part of Yum Brands, has been facing a series of declines in its US restaurant performance, with previous attempts at value meals and limited-time offers failing to connect with consumers amidst competition from more trendy chicken chains like Wingstop and Raising Cane's.

In a move that could be straight out of a culinary-political drama, Poland is gearing up to auction off a substantial chunk of its frozen butter reserves—up to 1,000 metric tons—in a bid to quell the rising prices of this beloved dairy staple. As the nation's presidential elections loom in May, the government's strategic reserves agency announced the butter bonanza on Tuesday, pinning the blame for the price surge on a global milk shortage. This bold stroke of dairy diplomacy is set to commence on Thursday, with the agency offering unsalted frozen butter in 25-kilogram blocks to businesses at a starting price of 28.38 zlotys (approximately $7) per kilogram—a figure that pales in comparison to the prices consumers are currently shelling out at Biedronka, one of Poland's leading supermarket chains.

Being a CEO comes with its own set of challenges and rewards. You're always on duty, held accountable for any mishaps, and at the mercy of external factors that can potentially devastate your business. However, the compensation is substantial, and the perks are numerous, such as the use of a private jet for travel. It's crucial to ensure that any personal use of the company's aircraft is justified by legitimate business reasons and that your financial team is aware of these trips to report them to federal authorities. Or, as was the case with the former CEO of fashion retailer Express, you could simply use the jet without drawing attention to it. Here's what happened: During the three years leading up to Express's bankruptcy, its then-CEO, Tim Baxter, was reportedly enjoying nearly a million dollars' worth of executive benefits, including personal use of chartered aircraft authorized for the CEO's use, as stated by the Securities and Exchange Commission (SEC). It's alleged that Express failed to disclose this information to investors as required. Express, which also manages Bonobos and UpWest, filed for Chapter 11 bankruptcy in the spring following a decline in sales and intense competition from fast-fashion giants like Zara. Over the summer, a joint venture led by WHP Global and three of the retailer's landlords—Simon Property Group, Brookfield Properties, and Centennial Real Estate—acquired the company out of bankruptcy. The SEC noted that it settled the charges against Express and decided not to impose a civil penalty, acknowledging the company's cooperation during the investigation. "Without admitting or denying the SEC's findings, Express consented to a cease-and-desist order," the SEC stated in a press release. Express did not respond to requests for comment.

The Federal Trade Commission (FTC) has issued a definitive regulation that prohibits hotels, ticketing services, and short-term rental businesses from incorporating undisclosed surcharges into their advertised prices. This new directive ensures that consumers are informed of the total cost, including any additional fees, before they commit to a purchase. In a statement, FTC Chair Lina Khan emphasized the importance of transparency, saying, "Consumers have the right to know the exact amount they are expected to pay without the stress of unexpected fees that they have not accounted for and cannot evade." She further stated that the FTC's regulation would eliminate unnecessary fees associated with live event tickets, hotel bookings, and vacation rentals, potentially saving Americans billions of dollars and millions of hours of wasted time.

Introducing Whisk, Google's innovative artificial intelligence (AI) tool that revolutionizes the way users can generate images. This cutting-edge technology allows individuals to upload photographs and receive a synthetic, AI-crafted image in return, without the need to input any textual instructions. By submitting images that represent subjects, settings, and styles, Whisk seamlessly integrates these elements to produce a single, cohesive image. Google positions Whisk as a "creative tool" for swift inspiration, distinguishing it from conventional image editing software. The tool is designed to be a playful AI feature, not a replacement for polished professional work.

The Dow Jones Industrial Average, a revered market bellwether, has stumbled into its longest losing streak since Jimmy Carter's presidency, a bygone era of disco, flared jeans, and economic malaise. Like a once-mighty boxer now reeling from a flurry of blows, the index fell by 267 points, or 0.6%, on Tuesday, marking the ninth consecutive day of decline. This streak, a throwback to February 1978, has etched itself into the annals of market history, yet the downturn has been relatively mild, with the Dow only losing 3% over the previous eight trading sessions—a mere blip in the grand scheme of the market's ebbs and flows.

The Teamsters union has recently made headlines as its members have voted to authorize a strike at three Amazon facilities, one of which is the Staten Island, New York, warehouse that notably became the first to have employees vote in favor of unionization in 2022. Despite this development, Amazon has asserted that its operations will remain unaffected by the union's actions, even in the event of a strike. The Teamsters, while claiming to represent approximately 7,000 Amazon workers across the nation, constitute less than 1% of Amazon's total workforce in the United States. It is also worth noting that although the union has voted to approve a walk-out, no specific strike deadline has been set.

Taco Bell, known for its Mexican-inspired dishes, is making a slight detour into all-American territory with its latest menu addition. Starting from Thursday, the fast-food chain will introduce chicken nuggets for a limited period. However, these nuggets come with a distinctive Taco Bell twist: they are marinated in a zesty jalapeño buttermilk blend, then coated with a mix of tortilla chips and breadcrumbs, offering a unique and flavorful take on the classic fast-food item.

Jamie Dimon, the CEO of JPMorgan Chase, the largest bank in the United States, and often dubbed the 'Wall Street President,' has been vocal throughout the past year about the heightened risk of the US facing a 1970s-style stagflation, characterized by stagnant economic growth coupled with surging inflation. "Considering the extraordinary amount of fiscal and monetary stimulus over the last half-decade, it's hard to dismiss the potential for stagflation," Dimon remarked at a conference in May. However, his forecast has been met with skepticism from many prominent economic figures, including Federal Reserve Chairman Jerome Powell, who stated in May, "I don't see the stagflation scenario unfolding." This was prior to Donald Trump's election victory. Now, with Trump's presidency on the horizon, Americans might need to prepare for stagflation, a phenomenon the country hasn't witnessed in over fifty years, potentially triggered by tariffs.

President-elect Donald Trump has expressed optimism that the financial burden of grocery shopping will soon be alleviated for Americans. "They will be able to afford their groceries very soon," he proclaimed on Thursday, just before participating in the opening bell ceremony at the New York Stock Exchange, where he was celebrated as Time's "Person of the Year." According to the Consumer Price Index data released earlier this week, Americans paid 22% more for groceries last month compared to January 2021 when Trump left office. Moreover, a comparison with February 2020, prior to the pandemic, reveals that Americans are paying 27% more for groceries in November.

On the eve of Thanksgiving, a tale of two grocery stores unfolded across the American landscape. In one, the shelves stood bare, devoid of the eggs that are a staple in the feasts of celebration. In another, an hour and a half north in Richfield, eggs could be found, but they came with a price tag swollen by 40%, a stark reminder of the economic winds that have been blowing through the nation.

In the halls of power where the fate of corporations is decided, a new chapter is being written with the name of Andrew Ferguson at its forefront. As the Federal Trade Commission (FTC) stands at a crossroads, with the formidable Lina Khan's tenure coming to an end, Ferguson is poised to take the helm, a move that has sent ripples of anticipation and trepidation through corporate America.

In the digital age, where information flows as freely as the currents of the internet, the fate of TikTok, a platform that has captivated the attention of millions, hangs in the balance. The clock is ticking towards a potential ban set for January 19th, a date that could mark the end of an era for the video-sharing giant in the United States. As TikTok gears up for another legal challenge, the DC Circuit Court of Appeals has dismissed a request for a temporary halt to the ban, deeming such a suspension "unjustified." This sets the stage for the Supreme Court to potentially settle the future of the platform, a decision that will resonate far beyond the digital realm and into the hearts and minds of its users.

McKinsey & Co has consented to a settlement of $650 million to address allegations stemming from a US Department of Justice inquiry into the consulting firm's advisory role to Purdue Pharma, the manufacturer of the opioid OxyContin. The company has entered into a five-year deferred prosecution agreement, filed in federal court in Abingdon, Virginia, to resolve criminal charges related to the marketing of addictive painkillers, which have been linked to the devastating opioid crisis in the United States.

In the geopolitical chessboard of North America, a new tension is brewing as Canada contemplates a bold move in response to President-elect Donald Trump's proposed tariffs. The threat, issued by Ontario Premier Doug Ford, is not of military might or diplomatic sanctions, but of an energy embargo, a strategic withdrawal of a vital resource that binds the economies of the United States and Canada in a delicate embrace.

Attention to all freelancers, independent contractors, entrepreneurs, property renters, or hobbyists who occasionally sell their creations: Starting from January, if you receive business income through payment apps or online marketplaces such as Venmo, CashApp, Airbnb, and Etsy, you may begin to receive 1099-K tax forms from these platforms. You might receive more of these forms than you are accustomed to, particularly if you have never before received one from these platforms. This trend is expected to continue and intensify by 2025 and beyond. Here's why this is happening and what you need to know before filing your 2024 taxes next year.

In the twilight of 2022, a peculiar paradox unfolded within the corridors of American politics and public health. President-elect Donald Trump, a figure often lauded for his business acumen and deal-making prowess, extolled the polio vaccine as the "greatest thing," a triumph of medical science that has saved millions from the clutches of a debilitating disease. Yet, in the same breath, a lawyer affiliated with Trump's chosen steward of the nation's health, Robert F. Kennedy Jr., petitioned the FDA to revoke approval of the very vaccine that has been a cornerstone of global public health for decades.

In the maelstrom of the global health crisis, financial markets embarked on a frenzied quest to identify and invest in companies that could not only survive but thrive amidst the unprecedented challenges. The early victors of this tumultuous period reaped substantial rewards, particularly those catering to the work-from-home (WFH) trend, such as Zoom and Peloton, and vaccine developers like Pfizer and Moderna. However, the journey back to a semblance of normalcy has been fraught with turbulence for these stocks, with Moderna arguably facing one of the most volatile trajectories.