Markets Now Tuesday, July 23, 2024

Delta is still melting down. It could last all week

Bad news for passengers: Delta Air Lines canceled hundreds more flights early Tuesday morning, as the problems caused by last week’s global tech outage continued into a fifth day. Worse news: Delta’s meltdown will probably extend through the end of the week.  
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39% of Americans worry they can’t pay the bills

Many Americans regularly worry they won’t be able to make ends meet.  
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Overstock.com is back from the dead

Overstock.com, which was one of the biggest names in e-commerce, is being revived just a year after its new owners ditched the name in favor of Bed Bath & Beyond.  
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China’s leaders have floated the idea of raising the retirement age. It hasn’t gone down well

China has announced plans to raise some of the world’s lowest statutory retirement ages as it tries to cope with the consequences of a rapidly ageing population and a pensions funding crisis.  
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The global tech outage showed how we’re just one mistake away from chaos

In case last week’s events — an assassination attempt, a new Republican vice presidential nominee, the sitting president contracting Covid before dropping his reelection bid — didn’t leave you feeling sufficiently anxious about the fragility of the global order, let’s not forget that a cybersecurity company you’ve probably never heard of made a major oopsie that showed how the internet could, without warning, just kind of stop.  
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Founder of South Korea’s Kakao arrested for suspected stock manipulation

The billionaire founder of South Korean tech giant Kakao Corp, Kim Beom-su was arrested on Tuesday on accusations of manipulating stocks during the acquisition of a K-Pop agency last year.  
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Source: CNN Business

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