Category: BUSINESS
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Everything you need to know about OceanGate and what’s next for the company: ‘Great risk’
OceanGate Expeditions is the owner and operator behind the Titan submersible, which had five people on board when it experienced what the Coast Guard called a “catastrophic implosion” amid its journey to the Titanic shipwreck. The privately-owned US company was founded in Everett, Wash., in 2009 by Guillermo Söhnlein and Stockton Rush to build out…
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OceanGate received $450K in pandemic PPP loans to cover payroll costs
OceanGate, the deep-sea exploration company that operated the Titan submersible, received $447,000 in government loans throughout the pandemic under the Paycheck Protection Program, according to federal loan tracker ProPublica. The PPP is a Small Business Administration-backed program that assisted companies from April 2020 through May 2021 by issuing checks so they could afford payroll costs,…
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First vehicles cross newly constructed I-95 bridge in Philadelphia that collapsed from deadly tanker fire
Vehicles crossed the newly reconstructed Interstate 95 bridge in Philadelphia Friday for the first time since the bridge collapsed in a deadly accident. Pennsylvania Gov. Josh Shapiro (D), Philadelphia Mayor Jim Kenney and other state officials spoke at a morning news conference hours before the bridge reopened at noon — just 12 days after the collapse. Shapiro…
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OceanGate listed job posting for ‘submersible pilot’ during doomed Titan rescue efforts
OceanGate Expeditions listed a job posting for a submersible pilot on its web site while a frantic search and rescue mission was underway for five missing tourists in the doomed Titan bound for the Titanic wreckage site. Social media was abuzz on Friday after screenshots of the ad, which was posted before the Coast Guard…
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NewsNation slammed for missing Titan sub ‘oxygen remaining’ countdown clock
NewsNation aired an “oxygen remaining” countdown clock alongside its coverage of the missing Titan submersible — and viewers weren’t happy about the “grim” choice. The grave graphic appeared throughout the ratings-challenged news channel’s Wednesday coverage, including during the 10 p.m. show hosted by Ashley Banfield. As the anchor discussed a theory that a sea creature…
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Mets owner Steve Cohen gives $5 million to help psychedelics go mainstream
NY Mets’ Steve Cohen donates $5 million for MDMA to go mainstream Breaking News
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Ex-Goldman banker Brijesh Goel convicted of insider trading for passing potential merger tips to a friend
A former Goldman Sachs banker was convicted of insider trading by a New York jury on Wednesday, after prosecutors said he passed tips about potential mergers to a friend. At the trial that began in Manhattan on June 12, prosecutors said Brijesh Goel, a former Goldman Sachs vice president, tipped his friend Akshay Niranjan to deals the bank was considering…
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Amazon sued by FTC over ‘deceptive’ practices used to sign up customers for Prime
The Federal Trade Commission on Wednesday sued Amazon, alleging the e-commerce behemoth illegally deceived customers into signing up for its Prime program and then “sabotaged” their attempts to cancel. The federal agency claims Amazon violated the FTC Act and the Restore Online Shoppers’ Confidence Act by using deceptive tactics — known as “dark patterns” —…
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NYC night owls left hungry as 24-hour restaurants dwindle
The City That Never Sleeps? Tell that to night owls starving for a bite to eat. Manhattan’s once thriving 24/7 eateries — where revelers spilling out of thumping clubs and after-hours hot spots would merge with an early-morning work crowd — are dwindling as staff shortages, rising real estate prices and soaring crime eat away…
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Rate hikes ‘likely’ this year in fight against inflation: Jerome Powell
With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday. “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go,” Powell said on the first of two…