US Consumers Continue Spending Amid Inflation and High Interest Rates, FTX Founder Testifies in Fraud Trial, Musk's Twitter Transformations Continue One Year on, Household Expenses Outpacing Earnings, Atlanta's Film Industry Suffers from Actors Strike, Wall Street Suffers Fall, Abercrombie & Fitch Faces Lawsuit, GM's Cruise Suspends Driverless Operations, Dimon Family to Sell 1M Shares of JPMorgan

U.S. consumers remain resilient despite high inflation and interest rates, FTX founder denies fraud allegations in court, Elon Musk's Twitter transformation under scrutiny a year later, household expenses rapidly exceeding earnings for many Americans, actors' strike severely impacts Atlanta's film industry, Wall Street enters a correction phase, Abercrombie & Fitch faces a lawsuit alleging sexual abuse under former CEO, Cruise suspends driverless operations nationwide, and Dimon family to sell a million shares of JPMorgan.

US consumers continue spending despite high inflation and interest rates, indicating resilience. Savings rates have, however, fallen to 3.4%, with income growth slowing and now falling when adjusted for inflation, hinting at potential future financial insecurity.
FTX founder Sam Bankman-Fried defended himself in his fraud trial, acknowledging that customers were hurt, but denying fraud. He attributed the loss of his businesses and reputation to a sudden withdrawal of customer funds that exposed a significant shortfall.
One year after Elon Musk took over Twitter and began transforming it into 'X', the social media platform is grappling with issues of misinformation, advertising, and usage decline. The final shape and success of 'X' remains uncertain.
Rising household expenses are rapidly overtaking earnings for many Americans. According to an AP-NORC poll, about two-thirds of Americans report their household expenses are outpacing earnings this year, worsening financial insecurity.
The Atlanta film industry is suffering significantly from an ongoing actors' strike, which has halted work in the city frequently dubbed the 'Hollywood of the South'.