National business

Navient, one of the nation’s largest student loan companies, will pay $120 million to resolve allegations that it misallocated payments, steered people into costly repayment plans, supplied the wrong information and ignored borrowers’ pleas for help, the Consumer Financial Protection Bureau said Thursday.

Atlanta Federal Reserve President Raphael Bostic violated the central bank’s rules around financial disclosures and trading activity, marking the latest revelation in a series of ethics issues to rock the institution, the Fed’s internal watchdog said Wednesday.

By Naomi Nix washington post

Traders are uniting behind bets the Federal Reserve will cut interest rates by only a quarter-point next week after an unexpected pickup in underlying US inflation.

Oracle Corp. shares hit a record high after the software giant reported profit and bookings that topped estimates, signaling that artificial intelligence demand continues to boost its cloud computing business.

Nervous Nvidia Corp. investors are eager for an update on its Blackwell chip rollout – hoping for a catalyst to halt the stock’s recent decline.

Southwest Airlines Co. Chairman Gary Kelly is stepping down along with six directors, a dramatic step after the carrier faced calls for a strategic overhaul from activist investor Elliott Investment Management.