Wall Street is clawing back some of its sharp recent losses Monday, ahead of a week that could send more big swings through financial markets. The S&P 500 was 1% higher in its first trading after dropping more than 10% below its high point for the year. The Dow Jones… Read More
Rite Aid, Risk, and the Great American Shell Game
By Addison Wiggin ”Games are all about taking risks.”— James Altucher In 2013, we took a film crew to Greenwich, Connecticut. At the time, the stock market and economy had “recovered” from the Panic of ‘08, and we were making a film about “risk!”. We wanted to know how… Read More
Cruise, GM’s robotaxi service, suspends all driverless operations nationwide
Cruise, the autonomous vehicle unit owned by General Motors, is suspending driverless operations nationwide days after regulators in California found that its driverless cars posed a danger to public safety. The California Department of Motor Vehicles revoked the license for Cruise, which recently began transporting passengers throughout San Francisco, this… Read More
Americans say expenses are outpacing their earnings this year, new poll shows
About 2 in 3 Americans say their household expenses have risen over the last year, but only about 1 in 4 say their income has increased in the same period, according to a new poll from The Associated Press-NORC Center for Public Affairs Research. As household expenses outpace earnings, many… Read More
Toyota reecalls 751,000 vehicles in the US over hardware issue
Toyota is recalling about 751,000 large SUVs in the U.S. to fix a problem with the tabs that hold the front bumper covers on. The recall covers certain Toyota Highlanders from the 2020 through 2023 model years including gas-electric hybrids. Sponsored: M.D. Shares Weird Tongue Technique For Perfect Sleep The… Read More
Autoworkers reach a deal with Ford, a breakthrough toward ending strikes
The United Auto Workers union said Wednesday it has reached a tentative contract agreement with Ford that could be a breakthrough toward ending the nearly 6-week-old strikes against Detroit automakers. The four-year deal, which still has to be approved by 57,000 union members at the company, could bring a close… Read More
European Central Bank breaks unprecedented streak on Thursday
The European Central Bank left interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe’s economy. It is the bank’s first meeting with no change after a torrid pace of 10 straight increases dating… Read More
Coca-Cola sells more than expected in the 3rd quarter
Coca-Cola raised its full-year revenue forecast Tuesday after a stronger-than-expected third quarter. Atlanta-based Coke said it now expects its organic revenue will be up 10% to 11% for the year. That’s up from the 8% to 9% guidance Coke announced at the end of the second quarter. Coke expects earnings… Read More
42 states sue Facebook, citing addiction among other concerns
Dozens of US states, including California and New York, are suing Meta Platforms Inc. for harming young people’s mental health and contributing the youth mental health crisis by knowingly designing features on Instagram and Facebook that addict children to its platforms. The lawsuit filed in federal court in California also… Read More
Wall Street drifts in mixed trading Monday as yields swing in the bond market
Wall Street is swinging a bit higher on Monday, continuing a monthslong run where it’s slavishly followed the cue of the bond market. The S&P 500 was up 0.5% in afternoon trading, coming off its worst week in a month. The Dow Jones Industrial Average was up 5 points, or… Read More
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