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The Iran war has raised stagflation risks for the global economy. If such an episode were to play out, a “deep recession” may be the only way out, says KPMG chief economist Diane Swonk. Loading audio narration… In mentioning stagflation, Swonk is referring to a dreaded scenario defined by persistently high inflation and sluggish growth. It can be worse than recession, because the Federal Reserve is unable to comfortably move interest rates in either direction.Swonk notes the Iran war has driven multiple supply shocks that have resulted in product shortages and higher prices. For the other side of the stagflation…

Last week, OpenAI was dumping side quests: Out went Sora, its once-hyped video app. Plans to launch erotic chats were mothballed. Loading audio narration… That was then. This week, OpenAI has become a media company, by buying TBPN, the very buzzy tech-business internet talk show with a small but influential audience.Nope, not an April Fool’s joke. Though that reaction to the news was widespread and understandable.”April Fools was yesterday,” TBPN cofounder and cohost John Coogan told the thousands of viewers who tuned in to TBPN’s live show, minutes after the acquisition was announced. “This is real. This is a very…

OpenAI’s acquisition of popular tech talk show TBPN has left many in Silicon Valley stunned — but not speechless. Loading audio narration… Sam Altman’s AI behemoth has made a slew of big moves this year, from introducing ads on ChatGPT to shutting down Sora, its AI video app.While OpenAI is no stranger to dealmaking, its decision to buy the livestream show hosted by Jordi Hays and John Coogan caught many off guard.”This is not an April Fool’s joke; that was yesterday,” Coogan said on Thursday’s show.Here’s what some top voices in the tech and media worlds are saying about OpenAI’s…

This as-told-to essay is based on a conversation with Sean Yarbrough, owner of Broke Boy Taco. It has been edited for length and clarity. Loading audio narration… In 2022, I was flipping burgers when the owner of the burger joint asked me what I missed most about the US.I moved to New Zealand in 2021, and what I missed most was Mexican food. My boss asked if I knew how to cook tacos, and after I told him I did, he said I could cook them the next day. I did, and we tasted them. He told me I should…

An app for Kalshi, an online prediction market site, is shown on a phone. Multiple states have tried to block the company from operating, citing state gambling laws. But the federal government has sued to block those state laws to allow Kalshi and other prediction markets to operate. Scott Olson/Getty Images hide caption toggle caption Scott Olson/Getty Images The Trump administration on Thursday filed lawsuits against three states, arguing that the controversial prediction market industry should be solely regulated by the federal government, not by state gambling commissions. The trio of legal actions against Illinois, Connecticut and Arizona is the…

Starbucks employees will soon see changes to how — and how often — they’re paid. Loading audio narration… The coffee giant is shifting all workers across its corporate offices and in-store staff to weekly pay, enabling new ways for customers to tip, and introducing a new performance-based bonus structure for baristas at its top stores, according to a letter sent to employees and shared with Business Insider.Weekly paychecks will begin in August. The bonus program, set to roll out in July with its first payout in the fall, will allow baristas and shift supervisors at Starbucks’ top stores to earn…

Attorney General Pam Bondi is seen here during congressional testimony on Oct. 07, 2025 in Washington, D.C. Win McNamee/Getty Images hide caption toggle caption Win McNamee/Getty Images President Trump announced Thursday that Attorney General Pam Bondi is out from the top job at the Justice Department. Her departure comes amid simmering frustration over her leadership and her handling of the Epstein files. In social media post, Trump called Bondi “a Great American Patriot and a loyal friend, who faithfully served as my Attorney General over the past year.” “Pam did a tremendous job overseeing a massive crackdown in Crime across…

Richard Bernstein Advisors CEO and CIO Richard Bernstein offers insight on investment strategies during conflict and rising inflation on Barrons Roundtable. American retirees may be done with their working careers, but they may still face the scrutiny of an IRS audit if their tax return raises red flags. Data from the IRS shows the tax collection and enforcement agency has conducted audits on fewer than 1% of individual tax returns in recent years. In the tax years from 2014 through 2022, the IRS reported that it examined 0.4% of all individual tax returns filed – though that figure rises to 7.9% of taxpayers…

The Trump administration on Thursday imposed new tariffs on branded drugs from pharmaceutical companies that have not struck deals with the president to lower their U.S. drug prices – a long-awaited move that will likely only affect a small portion of drugmakers.”We need to make sure that our drug supply is protected, secure and domestic,” a senior administration official, who declined to be named, told reporters on Thursday. “That is what we’re doing.”Patented medications and their active ingredients face a 100% tariff under the plan, but there are pathways for drugmakers to reduce or avoid the levies, the official said.…

Yoshinobu Yamamoto #18 of the Los Angeles Dodgers and Donald Glover greet Yoshi after throwing out the first pitch before a baseball game against the Cleveland Guardians at Dodger Stadium on March 31, 2026 in Los Angeles, California.Ryan Sirius Sun | Getty Images Sport | Getty ImagesA group of regional sports networks is set to wind down, marking the demise of a once lucrative business and leaving the fate of local baseball, basketball and hockey broadcasts in the balance — even as live sports command the highest TV ratings. RSNs have felt arguably the greatest pressure from the losses that…