Jerome Powell warns Fed Reserve needs more time to battle stubborn inflation
"The recent data have clearly not given us greater confidence, and instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said.
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Truth Social's streaming announcement is rearranging deck chairs on the Titanic, says strategist
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A major meteor shower will be at its peak this weekend
We haven’t experienced a major meteor shower since the Quadrantids ended in early January , but the annual meteor drought has officially ended with the Lyrids now in action. Here’s what you need to know about this yearly light show and how to watch it. Read more...
Rivian is directing drivers to chargers that actually work
Charging in the U.S. sucks. It’s getting better thanks to some massive new investments , but it’s still incredibly common to show up at a charge site and find the only available charger is broken. The Tesla Supercharger network is currently the best in the business, which helps
Russia told OPEC it would export less oil. It's actually exporting more
OPEC and its economic allies in the OPEC+ bloc have been trying to cut global oil supplies in order to bid up prices lowered by record production from the United States . Russia, for its part, pledged earlier this year to cut crude oil exports as part of that mission. But it
Oreo maker Mondelez is being fined for limiting cross-border sales
Oreo maker Mondelēz International will have to pay millions to the European Union (EU) for restricting cross-border sales as soon as next month. Read more...
How California fast food restaurants raised menu prices in response to $20 minimum wage
Wendy's raised menu prices by around 8% while Chipotle Mexican Grill hiked its prices by approximately 7.5%, according to Kalinowski Equity Research.
YouTube is cracking down on mobile ad blockers
YouTube has become the internet’s go-to library for all things video, but make no mistake, advertisers run this library . YouTube escalated its war against ad blockers on Monday with an update saying the use of mobile ad-blocking apps may result in buffering issues and error
Yes, an International Space Station battery pallet piece did indeed crash through a Florida home, NASA says
Well, this is awkward. A NASA investigation confirmed that a small piece of trash tossed from the International Space Station (ISS) survived atmospheric reentry and ended up in a Florida home. This is a rare case of space junk causing damage on Earth, and the homeowner may be
Disney+ might launch something new that sure sounds like just TV all over again
Streaming on demand is the most popular way of watching movies and TV for obvious reasons: it’s way more convenient to watch something when you want to, not when a network slots it into a schedule. But many free, ad-supported channels , including Tubi and Plex , offer a “live
Gold shining ‘bright like a diamond,’ could reach $3K per ounce, Citi says
A recent gold rally could see the precious metal possibly topping $3,000 per ounce in the next six to 18 months, according to Citigroup analysts.
Adobe might partner with OpenAI to offer AI video generation
Adobe said this week that it’s in talks with OpenAI and other AI companies, such as Runway and Pika Labs, to make AI video generation tools for users of Adobe Premiere Pro. Read more...
IMF slams Biden spending as US debt balloons past $34 trillion: ‘Something will have to give’
The IMF noted in its forecast that the US federal budget deficit grew from $1.4 trillion in fiscal 2022 to $1.7 trillion last year.
Apple is losing to Samsung on smartphone sales. Here's why
The latest charts from analysts at IDC show Samsung has reclaimed the top spot on the global smartphone charts for the first quarter of the year, knocking Apple down to number two. Apple was dominating the charts for a brief second. But now, Samsung has the lead with 20.8% of
Meta’s oversight board probing Facebook, Instagram deepfake porn response: report
Taylor Swift and US Rep. Alexandria Ocasio-Cortez have been victims of artificial intelligence-generated deepfake porn in recent months.
A reverse stock split is BuzzFeed's last hope of staying listed on the Nasdaq
Shares of BuzzFeed fell by over 5% on Tuesday following news that the company would seek shareholder approval for a reverse stock split. The media company is struggling to survive and has taken the step to avoid being delisted from the stock market. Its share value has
Single-family new home construction plunges in huge housing market setback
US single-family homebuilding tumbled in March, and while new construction remains underpinned by a severe shortage of previously owned houses for sale, a resurgence in mortgage rates is pushing potential buyers to the sidelines. The report from the Commerce Department on
Live Nation stock sinks because a DOJ antitrust lawsuit might be coming
Shares of Ticketmaster parent company Live Nation dropped more than 6% Tuesday following a report that the Department of Justice is preparing to sue the company for alleged antitrust violations . Read more...
Johnson & Johnson's bet on heart devices boosted sales — but it still missed analysts' expectations
Johnson & Johnson’s recent investments in medical devices helped boost sales, but the company’s total revenue in the first quarter of the year failed to beat Wall Street expectations. Read more...
Russia to grow faster than all advanced economies
The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this year.
Dr. Marten's stock is plummeting — and boots may be to blame
Consumers in the U.S. are holding off on purchasing boots — and Dr. Martens is bearing the brunt. Dr. Martens stock was down by more than 34% Tuesday morning, all the way $0.78 per share, after the company warned of a challenging fiscal year 2025 outlook and a decline in its
Trump Media announced a live TV streaming platform — and the stock tumbled 10%
Shares of Trump Media & Technology Group , the company behind former President Donald Trump ’s social media platform Truth Social, fell sharply again Tuesday after it announced that it’s launching a streaming platform. Read more...
AMD is taking on Nvidia and Intel with a new AI computer chip
The AI race isn’t all about tech giants trying to create bigger and better chatbots. It includes the chipmakers powering the latest AI-enabled devices and models, too. Read more...
Bitcoin is on a rollercoaster ride with the big 'halving' event on the horizon
Bitcoin is going through a topsy-turvy phase as the so-called Bitcoin “halving” event is on the horizon. The top cryptocurrency jumped Monday after Hong Kong approved spot Bitcoin ETFs , but it fell again soon after. The cryptocurrency continued its decline on Tuesday morning,
Apple is investing more in Vietnam as it moves away from China
Apple CEO Tim Cook said that Apple wants to invest more in suppliers in Vietnam during a meeting with Vietnamese prime minister Pham Minh Chinh on Tuesday, Bloomberg reported , citing state-owned media. Read more...
Disney to overhaul its money-losing Disney+ streaming service with new TV channels
Disney wants Disney+ users to remain on the platform instead of clicking over to other streaming options.
Elon Musk's Tesla is having a brutal 2024. Here's how it went wrong
Elon Musk’s Tesla has had a rough start to the year . Read more...
People aren't buying EVs because they have trouble charging them, report says
Maybe part of the reason that the formerly hot market for electric vehicles has suddenly cooled off, besides high prices , is that it can be difficult to find a charger that actually works. Read more...
UnitedHealth stock pops even after a big cyberattack cost it big money
UnitedHealth Group, the largest health insurance company in the U.S., was the top performer in S&P 500 Tuesday morning after it reported higher-than expected revenue amid the fallout of a massive cyberattack earlier this year. Read more...
