Business

The U.S. Capitol Building is seen on Jan. 19, 2023, in Washington, D.C. Treasury Secretary Janet Yellen said the U.S. reached its debt limit on Thursday and is resorting to extraordinary measures to avoid defaulting on its debt.

U.S. hits its debt limit and now risks defaulting on its bills

12:58pm January 19, 2023

by Rafael Nam

The U.S. is undertaking "extraordinary" measures to avoid defaulting on its obligations after the country reached its debt limit on Thursday. Now, a big political fight looms.

National

There is 1 parking space for every 11 semi trucks on the road. Why that's a problem

8:32am January 19, 2023

by Frank Morris

Semitruck drivers spend hours searching for parking spots, which cuts their earnings and slows down the supply chain. Truckers are counting on a bipartisan push in Congress to help.

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Microsoft is the latest in a wave of tech companies to announce layoffs

7:49am January 19, 2023

Microsoft is cutting 10,000 jobs, or about 5% of its workforce. It says a looming recession has forced customers to cut back on spending.

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Morning news brief

6:31am January 19, 2023

A high stakes debt ceiling fight looms on Capitol Hill. The rules on handling classified documents. And the tech industry, facing one of its sharpest downturns in a decade, turns to layoffs.

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National

Party City files for bankruptcy to get its debt under control

6:54pm January 18, 2023

by Alina Selyukh

Party City has filed for bankruptcy, but is not going out of business. The purveyor of balloons, costumes and party supplies is hoping this will let it shed its heavy debt.

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Microsoft announces it will cut 10,000 jobs

6:13pm January 18, 2023

by Bobby Allyn

Microsoft has announced it will cut 10,000 jobs in coming months, with lay off notices going out Wednesday. Like many other tech and finance companies, it's bracing for a recession this year.

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Bank of America customers reported major issues with their accounts and Zelle on Wednesday.

National

Bank of America says the problem with Zelle transactions is resolved

5:33pm January 18, 2023

by Jaclyn Diaz

The website Downdetector reported spikes in outages involving Bank of America and payment platform Zelle starting Wednesday morning.

Treasury Secretary Janet Yellen listens to President Biden during an October 2021 meeting with Cabinet members and corporate chief executives to discuss the looming federal debt limit. Two years later, the debt limit is once again an economic threat.

4 ways around a debt ceiling crisis — and why they might not work

1:46pm January 18, 2023

by Danielle Kurtzleben

From an obscure congressional maneuver to a trillion-dollar coin, there are many ideas out there to help the U.S. avoid debt default, but they are untested and have major potential problems.

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Cryptocurrency turmoil affects crypto miners

10:24am January 18, 2023

Cryptocurrency turmoil is affecting crypto miners, who require lots of electricity to operate. Energy costs are up, and demand is down.

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Morning news brief

7:44am January 18, 2023

Shootings in New Mexico targeted Democratic officials. A new study provides insights into viral coinfections among children. And, data show that most Paycheck Protection Program loans were forgiven.

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