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watch now VIDEO 2:39 02:39 The economy is slowing and is heading toward a recession, says PIMCO co-founder Bill Gross Halftime Report Famed investor Bill Gross said he expects big trouble ahead should the Federal Reserve keep hiking interest rates . "The economy has been bolstered by tremendous amounts of trillions of dollars in fiscal spending, but ultimately when that is used up, I think we've got a mild recession, and if interest rates keep going up, we've got more than that," Gross said Tuesday on CNBC's "Halftime Report." "We've got potential chaos in financial markets," Gross said. A tightening of monetary policy would further roil the capital market s, according to Gross. The so-called bond king and co-founder of Pimco pointed to Tuesday's move in global bond yields following the Bank of Japan's decision to widen the yield on its 10-year Japanese government bond. Meanwhile, a rise in interest rates spells trouble ahead ...

Southwest Airlines, which canceled thousands of flights last week and infuriated passengers, said Tuesday it was making "solid progress " on processing refund s even as another problem caused more travel woes. Multiple people tweeted Tuesday that crews told them planes couldn’t take off because the weather system was down or they lacked necessary weather information. The reports of delays Tuesday came just days after the airline said it resumed normal operations following the holiday travel chaos. Travelers queue up at the check-in counters for Southwest Airlines in Denver International Airport, on Dec. 30, 2022. David Zalubowski / AP Southwest in a statement late Tuesday said third-party vendor IBM “experienced a brief outage in their service that provides weather data prior to Southwest dispatching flights.” The airline said in the statement that “only minor delays ” were anticipated for the rest of the evening.  "We apologize for any inconvenience and appreciate every...

FTX co-founder Sam Bankman-Fried is escorted by corrections officers to the Magistrate's Court on December 21, 2022 in Nassau, Bahamas.  Joe Raedle | Getty Images Sam Bankman-Fried is flying Wednesday night to New York, according to the office of the Attorney General of The Bahamas, where he is later expected to be arraigned in U.S. federal court, concluding a days-long saga. Bankman-Fried, 30, was indicted in New York federal court on Dec. 9 and arrested three days later by Bahamas law enforcement at the request of U.S. prosecutors. His attorney, Jerone Roberts, reading from an affidavit signed Dec. 20, told the court that Bankman-Fried was consenting to extradition in part due to a "desire to make the relevant customers whole." Bankman-Fried was "anxious to leave," Roberts told the court . It is unclear how his return would help plug the $8 billion balance sheet hole that, according to federal complaints, came as a result of risky trading and extravagant spe...