Bloomberg News Now May 15, 2025: NJ Transit Engineers Declare Strike After Wage Talks Fail, More
May 16, 2025
New Jersey Transit engineers have gone on strike after wage talks hit a snag, shaking up transportation in the region. Meanwhile, a DOJ investigation reveals troubling practices among concert promoters during the pandemic. The podcast also delves into a significant security breach at Coinbase. On a broader scale, geopolitical tensions related to Ukraine are discussed, alongside insights into upcoming fiscal bills and recession forecasts from JPMorgan Chase's CEO.
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NJ Transit Engineers Strike
- New Jersey Transit locomotive engineers are striking for the first time in over 40 years over wage disputes.
- The strike shuts down rail services and disrupts commutes for thousands due to failed contract negotiations.
Coinbase Hack Reveals Vulnerabilities
- Coinbase faced continuous hacker access via bribed employees compromising data.
- The company responded with reimbursements, system hardening, and relocating support operations to increase security.
SALT Deduction Cap Negotiations
- Republicans are negotiating to triple the SALT deduction cap to $30,000 to benefit most constituents.
- Compromises result from balancing diverse districts' needs in tax legislation talks.