Investments and Business

More news - Recent news The U.S. economy posted robust growth in the second quarter, driven by strong consumer and government spending, along with a significant increase in inventories, according to an initial estimate from the Commerce Department released Thursday. From April to June, real gross domestic product (GDP), which measures the value of all goods and services produced, grew at an annualized rate of 2.8% after adjusting for seasonality and inflation. That beat the 2.1% growth forecast by economists polled by Dow Jones and improved from the 1.4% growth in the first quarter. The first of three estimates highlighted…

Related media - News 24 hours Wall Street’s most reliable recession indicator started signaling trouble in 2022 and hasn’t stopped since, but so far it has proven wrong every time. The yield on 10-year Treasuries has been lower than that of many shorter-term bonds, a scenario known as an inverted yield curve, which has historically preceded nearly every recession since the 1950s. Traditionally, an inverted yield curve suggests a recession within a year or two. However, not only has a recession not occurred, but U.S. economic growth remains stable. This has led many on Wall Street to wonder why this…

Related media - Breaking news Federal Reserve Chairman Jerome Powell will speak at the Economic Club of Washington, D.C., on Monday, providing insights into the central bank's interest rate policy and the broader economic landscape. Powell will engage in a discussion with David Rubenstein, president of the Economic Club and co-founder of The Carlyle Group. The move marks Powell’s first public comments since Thursday’s Consumer Price Index (CPI) report, which showed monthly prices for June falling. During his two-day testimony on Capitol Hill last week, Powell said the Federal Reserve now sees the risks of rising inflation and a slowing…

More news - News 24 hours Tesla’s U.S. electric vehicle market share fell below 50% for the first time in the second quarter of the year, according to recent estimates from research firm Cox Automotive. Tesla’s share fell to 49.7% from 59.3% in the same period last year. The decline is notable as battery-powered vehicle sales have hit record highs during the same time frame. From April to June, Tesla faced increasing competition from General Motors, Ford, Hyundai, and Kia. Cox Automotive estimates, based on filings, company reports, and other data, highlight this shift. The latest quarter marks a significant…

Related media - Latest news David Ellison’s Hollywood journey has been filled with high-energy, adrenaline-filled blockbusters filled with suspense, stunts and unexpected twists. But on Sunday, he achieved his most significant milestone by negotiating a merger with Paramount after months of discussions with the company and its largest shareholder, Shari Redstone. If the deal goes through, he will oversee a vast media empire that includes CBS, MTV and the Paramount movie studio. Although Ellison, 41, has been among Hollywood's elite for over a decade, he's only just now entering the spotlight. Here's a rundown of his career. Who is David…

Related media - Breaking news Jane McAlevey, an influential organizer and labor scholar, died Sunday at her cabin in Muir Beach, California, at the age of 59. Her half-brother, Mitchell Rotbert, confirmed that multiple myeloma was the cause of death. McAlevey had previously undergone surgery for breast cancer. Throughout her career, McAlevey was a staunch advocate for the working class, emphasizing the importance of worker-led unions. She believed that member-led unions were the most powerful tools for combating economic inequality. In her numerous writings and media appearances, she criticized many U.S. labor leaders for what she saw as their complacency…

Related media - Breaking news This article is part of Neglected, a series of obituaries about extraordinary people whose deaths, beginning in 1851, were not reported by The Times. For many fashionable women of the mid-20th century, a hat wasn't worth wearing unless it was made by Otto Lucas. Lucas was a London milliner famous for his elegant turbans, caps and cloches, often made of fine velvets and silks and decorated with flowers or feathers. Her designs have graced the covers of magazines such as British Vogue and have been worn by illustrious clients, including actresses Greta Garbo and Gene…

More news - News 24 hours Ray Kurzweil, a renowned inventor and futurist, continues to claim that humans will soon merge with artificial intelligence. During an interview at the Four Seasons Hotel in Boston, Kurzweil showed a graph illustrating the exponential growth of computing power over the past 85 years. This steady increase, according to him, indicates that the so-called Singularity, when humans and AI become one, will occur within the next two decades. Kurzweil, who has made a career out of making bold predictions, reiterated claims in his 2005 book, The Singularity is NearWith the advent of AI technologies…

More news - News 24 hours "Inside Out 2," featuring Anxiety personified, maintained its position as the top film in North America for the third consecutive weekend. Meanwhile, "A Quiet Place: Day One," a suspenseful prequel, exceeded expectations with its strong ticket sales. However, Kevin Costner’s three-hour film “Horizon: An American Saga – Chapter 1” was largely ignored by moviegoers. Originally intended for streaming, this supposed start to an Old West series eventually made it to theaters, but failed to attract significant interest. Pixar’s “Inside Out 2” was projected to gross $57.4 million, reaching a three-week total of about $470…