Chip Stocks Drive U.S. Markets to New Record Highs
Strong gains in semiconductor stocks propelled U.S. stock indices to record closing levels amid renewed investor confidence
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Business
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Bank of America Sees Fed Holding Rates Until Late 2027
Bank of America economists predict the Federal Reserve will delay interest rate cuts until the second half of 2027 amid persistent inflation and strong…
AI Drives Over a Quarter of April’s U.S. Job Cuts, Report Shows
Artificial intelligence accounted for 26% of April layoffs as companies shift spending, contributing to a 38% rise in overall job cuts
FTC and Institute to Host Financial Services Workshop in May
The Federal Trade Commission will co-host a public workshop with George Mason University’s Institute for Consumer Financial Choice focusing on recent financial services developments
Study Finds Automation Often Targets Higher-Wage Workers to Cut Costs
Research shows U.S. firms have used automation mainly to replace better-paid workers, significantly contributing to income inequality and limiting productivity gains
FTC Approves Valvoline-Greenbriar Deal with Oil Change Shops Divestiture
The FTC finalized a consent order requiring Valvoline to divest 45 quick-lube outlets to maintain competition after acquiring similar businesses from Greenbriar Equity Fund
Ted Turner, CNN Founder and Media Pioneer, Dies at 87
Ted Turner, the media mogul who created CNN and pioneered 24/7 cable news, died at age 87
Aurora CEO Chris Urmson Says Self-Driving Trucks Are Ready to Scale
Aurora began commercial driverless trucking last April and plans to expand its fleet from a few trucks to hundreds in 2024
U.S. Gas Prices Surge Above $4.50 Amid Middle East Tensions
Gasoline costs in the U.S. have risen to their highest level since July 2022, driven by supply concerns linked to the ongoing Iran conflict
U.S. National Debt Surpasses GDP for First Time Since World War II
The total U.S. debt has exceeded the country’s gross domestic product, a milestone not seen since the end of World War II