Elon Musk, chief executive officer of Tesla Inc., during a fireside discussion on artificial intelligence risks with Rishi Sunak, UK prime minister, not pictured, in London, UK, on Thursday, Nov. 2, 2023. Tolga Akmen | Bloomberg | Getty Images Tesla faces a growing revolt in Scandinavia after Danish dockworkers joined a sympathy strike with Swedish … Read more
The Wall Street bronze Bull looks out to an empty Broadway in Lower Manhattan, New York, on Aug. 28, 2011, as Hurricane Irene hits the city and tri-state area with rain and high winds. Stan Honda | Afp | Getty Images An EU wealth tax, the “end of capitalism” in the U.S. and a major … Read more
Why many homeowners are ‘staying put’ Last week, the average interest rate for certain 30-year fixed-rate mortgages decreased to 7.37% from 7.41% the prior week, in the fourth successive week of declines. Lower mortgage rates have prompted mortgage applications to pick up. Yet about 80% of outstanding U.S. mortgages have interest rates below 5%, according … Read more
US Treasury Secretary Janet Yellen hosts Leaders from Americas Partnership for Economic Prosperity (APEP) countries at the Treasury Department in Washington, DC, on November 3, 2023. Olivier Douliery | AFP | Getty Images WASHINGTON — Treasury Secretary Janet Yellen will travel to Mexico City this week to strengthen economic ties with America’s top trading partner, … Read more
The Federal Reserve needs to cut interest rates at least five times next year to avoid tipping the U.S. economy into a recession, according to portfolio manager Paul Gambles. Gambles, co-founder and managing partner at MBMG Group, told CNBC’s “Squawk Box Asia” the Fed was behind the curve on cutting rates, and in order to avoid … Read more
Bitcoin, the world’s largest cryptocurrency, has been stealthily rising in 2023. Chris Ratcliffe | Bloomberg | Getty Images Bitcoin built on its recent rally and hit its highest level in more than a year on Monday, bolstered by anticipation of a bitcoin exchange-traded fund approval and bets on U.S. interest rate cuts. The world’s largest cryptocurrency … Read more
U.S. Special Presidential Envoy for Climate John Kerry participates in an event on women’s role in building a climate-resilient world, at COP28 World Climate Summit, in Dubai, United Arab Emirates, December 4, 2023. Amr Alfiky | Reuters The United States and more than 20 other countries plan to triple nuclear power by 2050 to achieve … Read more
Americans have accumulated a record-breaking $1 trillion in credit card debt. This comes as the Federal Reserve’s interest rate hikes have caused average interest rates for credit cards to spike to more than 22%. Rates on retail credit cards are even higher, nearing 29% on average. “Even if you’re working and your wages are up, … Read more
The record gold rush may intensify into year-end. According to NewEdge Wealth’s Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal. “It’s been very consistent every December. It’s been a pretty strong performance for gold — especially when there is a rally in the stock market in … Read more
Copper mines like Rio Tinto’s Bingham Canyon mine on the outskirts of Salt Lake City are on the frontline of America’s transition to clean energy. Global demand for copper, a major component of electric vehicles, is expected to grow from 25 million metric tons to nearly 49 million metric tons by 2035, according to S&P … Read more
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