America’s largest companies are fueling inequality, says new study
CNN
US-based corporations are making more money than ever before, and they’re putting that money right back into shareholders’ pockets.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. US-based corporations are making more money than ever before, and they’re putting that money right back into shareholders’ pockets. One of the reasons the S&P 500 is up more than 10% so far this year is because investors expect dividends — a redistribution of profits from a company to its shareholders — to get bigger. Dividend payouts to shareholders by companies in the S&P 500 reached a new record in 2023, and that number is projected to grow in 2024, according to data from the CME Group. What’s happening: The 200 largest publicly traded companies in the United States saw their combined net profits soar to $1.25 trillion in 2022, a gain of 63% from 2018. About 90%, or $1.1 trillion, of that profit went to shareholders through stock buybacks and dividend payments, according to new research from anti-poverty organization Oxfam International. At the same time, the study found, only 10 of those 200 companies have made public statements in support of paying a living wage.
A federal judge says the Trump administration must let more than 1,000 sidelined Voice of America employees return to work by next week.
Former judges side with Anthropic and raise concerns about Pentagon’s use of supply chain risk label
Nearly 150 retired federal and state judges have filed an amicus brief on Tuesday supporting AI company Anthropic in its lawsuit against the Trump administration for designating it a “supply chain risk,” CNN has learned.
Attacks on commercial ships in the Middle East this month have all but closed the vital Strait of Hormuz to oil tankers. One of the few alternative routes for oil exports from the region goes through the Red Sea. But now even that lifeline is in danger.
When Mona Panjwani opened One40 Rooftop, a swanky restaurant in lower Manhattan last year, one of the biggest dilemmas besides the menu was choosing the reservation platform.
What could get more expensive because of the war in Iran?
Gas prices have skyrocketed due to the US-Israel war on Iran, putting even more financial strain on many Americans’ wallets.
United Food and Commercial Union Local 7, the union representing the 3,800 striking workers, said that JBS failed to meet its demands during contract negotiations over higher wages, life-saving safety equipment and improved healthcare.
Every day brings a new complaint — or three — from the Trump administration about the American news media’s coverage of the Iran war.
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How Anthropic may benefit from its fight with Trump
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When Melanie Galeaz posted a fan edit of “Heated Rivalry,” she didn’t know it would lead to her dream job.
The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.