In a recent ruling that sparked heated debates, a federal appeals court in the U.S. found that a Texas judge made an incorrect decision by transferring an industry-backed lawsuit challenging an agency rule on credit card late fees to another court in Washington, D.C. This decision has brought to light the controversial practice of “judge
Federal Reserve Governor Michelle Bowman recently made a statement indicating that interest rates may need to be raised in order to control inflation, contrary to the expectations of rate cuts. The market had anticipated a different approach, but Bowman highlighted the importance of carefully monitoring inflation risks and not rushing to ease policy too quickly.
PIMCO, a leading U.S. bond giant, has recently adjusted its expectations for interest rate cuts by the Federal Reserve this year. Initially, the firm predicted two to three cuts, but now they are leaning towards only two cuts for the year. Portfolio manager Mike Cudzil stated that the adjustment is a result of the U.S.
Artificial intelligence has been revolutionizing the field of weather forecasting for years, with recent advances in generative AI holding the promise of even greater accuracy. Spire Global, a company specializing in radio frequency sensing through a satellite constellation, has recognized the potential of AI in improving weather predictions. In a partnership with Nvidia, a leading
When it comes to the latest box office projections, Monkey Man and First Omen are both expected to bring in over $12 million. However, in Thursday night previews, Monkey Man took the lead with $1.4 million compared to First Omen’s $725k. The previews for Monkey Man began at 5 PM in 2,750 theaters, while First
Samsung Electronics has estimated a substantial rise in its first-quarter operating profit, with a more than 10-fold increase from the previous year. The company reported a better-than-expected operating profit of 6.6 trillion won ($4.89 billion) for the quarter ended March 31, up 931% from 640 billion won a year earlier. This surge in operating profit
Ford Motor Company has decided to delay the production of a new all-electric large SUV and pickup truck in order to focus on offering hybrid options across its entire North American lineup by 2030. The three-row SUV at a plant in Canada has been pushed back to 2027 from the original plan of 2025, while
Meta shares surged to an all-time high following the increase in price targets by analysts at two different firms. The stock saw a spike of 4.6% to reach $530 before settling at $510.92 by the end of the day. This positive momentum was attributed to the company’s growing market share in digital advertising, a sector
The automotive industry has long been plagued by the problem of depreciation, where a car’s value significantly decreases as soon as it leaves the dealership lot. However, electric vehicles (EVs) are now facing an even more severe depreciation issue, making them a less attractive option for potential buyers. A recent study revealed that the average
In a recent development, British billionaire Joe Lewis was ordered by a U.S. judge to pay a hefty fine of $5 million and serve three years of probation after pleading guilty to conspiracy and securities fraud. This case sheds light on the illegal sharing of inside information by Lewis, enabling his associates to make millions