Federal Reserve Chair Jerome Powell said President Donald Trump’s tariffs will raise inflation and lower growth, and indicated that the Fed won’t move on interest rates until it gets a clearer picture on the ultimate impacts. The announcement of new reciprocal levies has left the Fed with a “highly uncertain outlook,” according to Powell. Powell … Read more
A software engineer at Microsoft’s AI division interrupted the company’s 50th anniversary celebration on Friday, protesting the use of Microsoft’s AI products by the Israeli military. The protester, Ibtihal Aboussad, accused Microsoft of selling its technology to power genocide in Palestine. Aboussad, who works on Microsoft’s speech recognition engine team, was swiftly escorted out of … Read more
Retirees in the US are facing anxiety and frustration over a second day of market turmoil that has hit their 401(k) accounts, following President Donald Trump’s escalation of tariffs. The economic chaos is causing some to pause big-ticket purchases and reconsider home renovations, while others fear it will affect their quality of life. Paula, a … Read more
Stellantis has extended its employee-discount program to the wider market as automakers face uncertainty over tariffs on Mexican and Canadian imports. The company is offering a temporary price cut of thousands of dollars, allowing customers to choose between employee pricing or current retail incentives. Some automakers have warned lawmakers that they will have to raise … Read more
Tesla Inc.’s first-quarter vehicle deliveries fell far short of expectations, with the company delivering 336,681 vehicles, its worst quarterly total since 2022. Analyst Ryan Brinkman at JPMorgan Chase & Co. cited consumer backlash against CEO Elon Musk as a major factor in his revised estimate of Tesla’s earnings. The stock slumped over 44% from its … Read more
US President Donald Trump’s trade wars have taken a toll on banks, including Goldman Sachs. A recent meeting with senior executives revealed that clients are seeking advice as the stock market experiences its biggest meltdown in years. The conversation took place at Goldman Sachs’ Manhattan headquarters, where executives discussed their asset-management business and how it … Read more
Tesla’s sales are declining, and protests against CEO Elon Musk have taken place across the country. A brand consultant suggests that the best way to rebuild Tesla’s reputation is for Musk to step down as CEO. According to Allen Adamson, a branding expert, Musk’s lack of focus on innovation and his increasing involvement in politics … Read more
Microsoft’s CEO of AI, Mustafa Suleyman, stated that building the largest artificial intelligence models in the world is expensive and duplicative. The company partners with OpenAI to access its Copilot model, which has recently gained a “memory” feature to retain key facts about users. Suleyman emphasized that Microsoft aims to develop AI self-sufficiently in the … Read more
The Australian territories of Norfolk Island and Heard Island and McDonald Islands have been unfairly targeted with high tariffs by the US, according to new data that suggests erroneous trade data was used in the calculation process. Norfolk Island, which has a population of 2,188 and is 1,600km north-east of Sydney, was hit with a … Read more
A mysterious case has unfolded at Newton-Wellesley Hospital in Massachusetts after five nurses working on the same floor were diagnosed with brain tumors, all of whom are found to have benign tumors. An investigation into the matter is underway, with officials claiming no environmental risks linked to the development of the brain tumors. According to … Read more