NTD Business

Former President Donald Trump says that, if he becomes President, he should have a say in the fed's interest rate decisions - a policy that impacts the world economy. Stellantis is laying off almost 2,500 factory workers from an assembly plant outside of Detroit. The automaker is ending production of the Ram 1500 Classic truck. The layoffs will be effective as early as Oct. 8, the company said.

JP Morgan now raising the odds of a recession by the end of this year to 35-percent. That's up from 25-percent. The news comes after a weaker than expected July jobs report and the sharp sell-off in global equities over the unwinding of the yen-funded carry trades.American budgets are being stretched. A new report shows the average credit card balance is more than $6,300 and more are falling behind on payments.

$17-point-eight trillion dollars. That's the latest number for U-S household debt on, according to the Federal Reserve Bank of New York. And the largest on record. Auto loan and mortgage debt rose and credit card debt reached an all-time high. Important news for investors coming out of Japan today. The country's central bank signalling it will hold off raising interest rates while markets are quote 'volatile'. Normally Japanese interest rates are not something we're all that worried about. But after the Bank of Japan raised rates for only the second time in 17 years last week it sent global markets into a tizzy.

We've been covering how the unwinding of a popular trade has rippled through global markets. JP Morgan and UBS saying today that the unwind is only 50% done. For years, investors around the world have been taking advantage of Japan's 0% interest rate policy. The low rates in essence allowed investors to borrow money for next to nothing, and use it to buy stocks, bonds, or anything else in the global financial market. This has been a safe and profitable trade over the years. But that all changed last week after the Japanese central raised interest rates above 0% for the first time in 17 years. Google may be the one who lost an antitrust lawsuit but Apple is likely going to take a hit too.A federal judge ruled that Google paying companies to make its search engine the default browser violates U-S antitrust law. For two decades, Google has paid Apple a chunk of its search revenue made on Apple devices. Court documents estimated that number to be around 20-billion-dollars in 2022. Google may have to scrap that deal with Apple.

All three major US indexes in the deep red today. And it wasn't just the United States. Japan's Nikkei closing over 12% lower today. It's worst day since 1987. That's when Black Monday hit Wall Street. We look at what the unwinding of the yen carry trade may have to do with it.A federal judge has ruled that Google's payments to make its search engine the default browser violates U-S antitrust law. The $26 billion dollars in payments effectively blocked any other competitors from succeeding in the market, according to the judge.

The US economy added just 114,000 jobs compared to 175,000 expected. The unemployment rate rising to its highest level since October 2021. This is all according to new government data released today. Hourly wages rose just 3.6% from July 2023, the smallest year-over-year gain since May 2021.The big loser on Wall Street today is Intel. The company's stock falling a massive 27%. It's now down 50% in the past 12 months. Earnings missing estimates on the top and bottom line. Announcing its laying off 15% of its staff. That's over 17,000 people by some estimates.

The stock market flashing red today as warning signs flash in other areas of the economy too. Weekly jobless claims now at an 11-month high. Today's labor market report also showing also the total number of people on jobless rolls is at the highest since 2021. Manufacturing data suggesting a slow down in the broader US economy. ISM data showing the manufacturing sector contracted in July for the fourth consecutive month. It's now at its lowest level in eight months.

Chairman Jerome Powell today acknowledging weakness in the jobs market and the economy. He says the broad sense among the Fed committee is that things may be deteriorating to a point where the economy will soon need stimulus. That could come as soon as September in the form of a rate cut.500 million dollars. That's how much Delta says the CrowdStrike-Microsoft outage will cost the airline. Delta shares down today. The massive I-T outage earlier this month forced Delta to cancel more than five-thousand flights, leaving hordes of flyers stranded.

Microsoft Shares down over 6% in after-hours trading. Revenue from Microsoft's flagship cloud product Azure disappointing. We talk to RP Capital Solutions CIO, Vijay Marolia. Facebook parent company Meta's shares down over half a percent today. It will pay a $1.4 billion settlement to Texas over claims the company used biometric data of users without permission. The Texas lawsuit alleged that Meta was in violation of a state law.

2023 saw the worst underwriting loss in a century for home insurers. That's according to rating agency A-M Best. It found insurance providers were hit with a 15-billion dollar net underwriting loss. That's when an insurance company has to pay out more in claims than expected.The Justice Department is asking a federal appeals court to uphold law that would ban TikTok. It gives Chinese owner ByteDance until January to sell TikTok's U-S assets or else be banned. The British government is warning Brits to get ready for some economic pain. The UK announcing a raft of cuts to dig itself out of a $28-billion-dollar spending hole. In a statement to the House of Commons, its Finance Minister pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country's economic stability.

The maker of Artificial Intelligence Chat-Bot ChatGPT announcing its most direct challenge yet to google's search engine. OpenAI is testing SearchGPT. it will combine its AI technology with information from the web to allow people to search for things in the same way they talk to ChatGPT.57% of Google's revenue in 2023 came from search.The stock market rallies, despite latest government inflation data showing prices are still rising albeit a little more slowly. Today's PCE report showing prices are up 2.5% year over year. Investors, home-buyers, and regular Americans trying to make ends meet all waiting to see the Federal Reserve's next move on interest rates.

Interest Payments Now 76% of Total Personal Taxes; Southwest Dropping Open Seating PolicyThe US National debt is about to hit 35 trillion dollars. US national debt is about to hit 35 trillion dollars. The gross interest on that debt is now massive. As a comparison, it's 76% of all personal income taxes collected every year. These are the latest numbers from the fed.Southwest Airlines shares rising over 5% today after it promised some major changes to the company. Its profits nose-dived 46 percent In the 2nd quarter. CEO, Bob Jordan, explains what happened.

Tesla stock plummeting a day after posting 2nd quarter earnings. Car sales, its main business, down 9 percent year-over-year, at 18.5 billion dollars. Higher costs did not help: net income down 45 percent, at 1.5 billion. CEO Elon Musk immediately addressing this in the earnings call.Crowdstrike says a “bug” caused the global tech outage last week. Delta says delays and cancellations will be resolved on Thursday. FTA determined to investigate.

With wage gains failing to keep up with inflation Americans are struggling. A new poll finding 39% of Americans can't pay bills. The FTA will investigate Detla over flight delays caused by a global tech outage. Delta says it will cooperate with the investigation. A small Maine leather maker has been chosen by Ralph Lauren to make the belts worn by team USA at the Olympics. NTD spoke with the owner.

Vice President Kamala Harris emerges as the favorite to win the democratic nomination for President. Nancy Pelosi and other top democrats are endorsing her. What would her economic policies look like if she became president?Criminals are stealing delivery drivers' e-bikes in New York City. Now, the drivers are banding together to fight back. Tesla is delaying the rollout of its humanoid robots for at least several months. The company says the robots will help the company counter a labor shortage.

A worldwide tech outage ripples through critical infrastructure. One cybersecurity expert tells us over a billion computers have been hit. Price cuts are becoming much more common in the Florida housing market. Is it a sign of things to come for the rest of the country?Commercial real estate is become a headache for regional banks. They're putting more money aside to cover potential loan losses.

We unpacking the economic policies of former president Trump's running mate: Ohio Senator J-D Vance. Vance is a successful businessman and venture capitalist. But he's also pro-American worker and pro-union.Trump implemented a somewhat unconventional republican economic plan when he was in office -- raising tariffs on foreign goods and creating incentives for American businesses to bring operations home. Critics called it protectionist and anti-globalist. Trump called it Amercia First. J-D Vance has said of a second Trump term: “You're going to see a much more aggressive approach to protecting domestic manufacturers.” Gold continues to shine. An anticipated rate cut by the Federal Reserve is perhaps keeping prices near record levels. U-S gold futures climbed today and the spot gold price edged higher to about 24-hundred-dollars. This comes after hitting an all-time high just yesterday. Analysts are anticipating long-term gains for the precious metal. Geopolitical instability and central bank demand are adding to the positive outlook.

SpaceX will be taking off from California and not returning. Founder Elon Musk will be moving his headquarters for the aerospace company and his social media company X to Texas. Musk said his announcement was spurred by a new California law, which he called the “last straw.” Even the possibility of tension in Taiwan can impact the market. In a recent interview, Republican presidential nominee Donald Trump said Taiwan should pay the U.S. for defense. The comment sent shares for the world's largest contract chipmaker in Taiwan down. Day one of Amazon Prime Day pulled in $7.2 billion dollars in U.S. sales, according to Adobe Analytics. And shoppers are projected to spend roughly 14 billion dollars total over the two-day deal event -- a record-high.

One of the largest trade unions in America says it's not beholden to any political party.The teamsters have supported democrats for decades. But, its president gave a speech at the Republican National Convention last night, the first time in over a hundred years.High interest rates continue to plague the American consumer and financial institutions. Bank of America has reported a drop in its second quarter profits.President biden is working to tackle the housing affordability issue. He will call on congress to pass his plan to set a federal cap on rent increases.

Almost all of AT&T's customers, have had their text and call records stolen! Although, the content of the texts and calls have not been.European regulators have charged Elon Musk's X with breaching its Digital Services Act. they are accusing the platform of misleading its users among other violations. Musk denies the claims saying he looks forward to a public trial where the European people can learn the truth.Falling energy prices were a big bright spot in this weeks CPI and PPI inflation reports, but with the recent hurricane in Texas could prices be heading back up, at least in the near term. Business Matters speaks to the head of petroleum analysis at gas buddy.

The federal government is spending $1.7 billion to modernize automobile manufacturing facilities, helping the industry compete with foreign subsidies and create and protect jobs.The U.S. annual inflation rate eased for the third consecutive month and came in below the consensus estimate, offering the Federal Reserve further evidence that progress is being made in returning to the central bank's 2 percent target rate.Bankruptcies across the board soared 14% during the first quarter. We speak with the president of the American Bankruptcy Institute, Chris Ward, to see where things may be headed next.

Elon Musk has won dismissal of $500 million lawsuit which claimed some Twitter employees did not receive adequate severance when they were laid off after musk took over. Microsoft has given up its board observer seat at OpenAI in a move seemingly aimed at easing U.S. and UK antitrust regulators' concerns about the extent of its control over the AI startup amid the soaring popularity of generative artificial intelligence.After the U.S. and its allies issued a warning about a state-sponsored Chinese hacking group, we spoke to security advisor at MySmartPrivacy, Rex Lee about the biggest cybersecurity weakness the United States has in its infrastructure and how it could be improved.

The chairman of the Federal Reserve today acknowledging the jobs market is cooling. But he says he's increasingly confident that inflation is on its way down to a more normal level.A United Airlines Boeing 757-200 plane lost a wheel from its landing gear while taking off from Los Angeles International Airport on Monday but managed to land safely in Denver.As the S&P 500 has soared, fewer stocks have been participating in the rally. Market breadth was narrow for most of last year and this year, with the 24% gain in the S&P 500 in 2023 driven primarily by mega cap stocks. is this an indicator of poor economic health in the U.S.? We spoke to a financial analyst.

Boeing will plead guilty to a criminal charge of defrauding the U.S. government over the deadly 2018 and 2019 737 Max crashes that killed 346 people, the U.S. Department of Justice (DOJ) said in a July 7 filing.Paramount Global's board of directors has approved a merger with Skydance Media, endorsing a deal that would combine one of Hollywood's oldest studios with the up-and-coming production company.According to the Transportation Security Administration, this July 4th holiday weekend hit a new all-time travel record.The TSA says it screened upwards of three million passengers for the first time ever on Sunday.

JP Morgan says Chase customers should get ready to pay for run-of-the-mill checking accounts. That's if the U.S. government caps the bank's other fees. But the head of JPMorgan owned Chase Bank told the Wall Street Journal that if this revenue source dries up, customers will have to fork out in other ways. New fans, new excitement, new sponsors. All that — at dodger stadium in Los Angeles. Some fans are coming from as far away as Japan. Much of this is because of one of the team's newest players —Shohei Ohtani. New data seems to show the US job market is weakening. The official unemployment rate just hit a two-and-a-half year high. Wage growth has moderated. And while the data shows 206 thousand new jobs were added in June, the estimated gains for May and April were revised down sharply.

Amazon founder Jeff Bezos is cashing in. He is selling 5 billion dollar-worth of Amazon stock as shares hit an all-time high. Amazon stock is up more than 30% so far this year.Two of the most popular high-end department stores are joining forces. The parent company of luxury retailer Saks Fifth Avenue have agreed to buy neiman marcus. The deal is expected to be worth more than $2.5 billion. The merger comes years after neiman marcus filed for bankruptcy during the pandemic.Walmart is facing a class action lawsuit for alleged deceptive and unfair pricing.An Illinois resident says Walmart knowingly prices items on the shelf lower than what you end up paying at the register. He says that while the price differences are small, they add up to hundreds of millions of dollars of additional revenue for Walmart every year.

Arkansas Attorney General Tim Griffin has issued a stark warning against using the Temu marketplace app, labeling it a "data theft business." His office filed a lawsuit alleging Temu uses malware to access personal data. The app, operated by China-based Pinduoduo Inc., is accused of invasive data collection practices.Google's greenhouse gas emissions have soared almost 50% in five years. That's according to the company's annual environmental report on Tuesday. The spike is due to the expansion of its data centers that underpin artificial intelligence systems, but it leaves google's target of getting to “net zero” emissions by 2030 in jeopardy.Credit card delinquency rates are on the rise. A new WalletHub report shows that in some cities, the average number of credit cards in delinquency has increased by over 80% since last year.

Italian investigators discovered exploited foreign workers making Armand and Dior luxury handbags, among other goods. Luxury brands have high price tags, partly because consumers expect them to be made by skilled workers in artisanal workshops.A study found that exam papers completed by Artificial Intelligence software went undetected 94% of the time. Bans on using AI-like ChatGPT have proven to be difficult, according to the new study. The Biden administration on July 2 announced $504 million in funding for 12 regional tech hubs to support the growth of critical technologies and sectors such as semiconductors, biotechnology, artificial intelligence, quantum computing, and clean energy.

After the Chevron ruling, today came Corner Post. The supreme court on July 1 made it easier for American businesses to challenge federal regulations. The highest Court ruled 6-3 that a retailer can challenge the fees the Federal Reserve System allows banks to charge for processing debit card transactions, despite not filing the challenge before the usual six-year cutoff. This will allow businesses to bring fresh challenges to long-existing regulations. Boeing has agreed to buy one of its suppliers, Spirit Aerosystems for $8.3 billion. Boeing says the deal will help improve the quality and safety of its planes, after a series of safety-related incidents.Scammers are impersonating utility company representatives to defraud people by threatening the deactivation of service, the nonprofit Better Business Bureau (BBB) is warning.

The Supreme Court overruling Chevron deference could have a major effect on business in the United States. The ruling strips power from federal agencies like the Securities and Exchange Commission and the Environmental Protection Agency.Uber and Lyft have just agreed to pay their drivers $32.50 an hour in Massachusetts. That's about $70,000 a year, if the drivers work a standard week. They would also get paid sick leave, accident insurance, and health care stipends.It seems Warren Buffett just changed his mind on where his huge fortune will go after his death. He told the Wall Street Journal, “The Gates Foundation has no money coming after my death.”

It looks like Boeing is in trouble again. So it spoke in a briefing this morning about the door plug that flew off a 737 Max back in January. But government safety regulators say Boeing wasn't allowed to speak to the media like that.Bank of America says U-S home prices will stay high and the housing shortage will continue. And, as a kicker - mortgage rates aren't going to fall much. Tripe whammy.Is your neighbourhood drug store doing away? WALGREENS IS SET TO CLOSE A SUBSTANTIAL NUMBER OF ITS ROUGHLY 86-HUNDRED LOCATIONS ACROSS THE U-S. Walgreens shares were down 22% today on the news.

Home flippers earned a 30.2% gross profit nationwide before expenses on homes sold during the first quarter of 2024, up from 27.7 percent in the fourth quarter of 2023. This is according to real estate data firm ATTOM. Home flipping activity also went up. Amazon.com Inc hit $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for technology-related stocks.The organic farmers watchdog group OrganicEye says American farmers are being disadvantaged versus foreign importers when it comes to organic food. Foreign imports aren't being held to the same requirements as American products. Organiceye is now telling the USDA to level the playing field.

Microsoft is in trouble with the EU over its popular collaboration app Teams, and could face a big fine. Antitrust regulators charged the U.S. tech giant on Tuesday (June 25) of illegally bundling the product with its Office software, making it hard for rivals to compete. Tesla said on Tuesday it was recalling most Cybertrucks in the United States over issues with their windshield wipers and exterior trim, the latest setback for the futuristic truck whose mass production is expected to start next year.U.S. consumer confidence eased in June amid worries about the economic outlook, but households remained upbeat about the labor market and expected inflation to moderate over the next year.

Apple is in hot water with European authorities again. EU antitrust regulators said Monday the company's App Store conditions breach the bloc's tech rules. They accuse the U.S. tech giant of preventing app developers from steering consumer to alternative offers. It's a charge which could lead to a large fine for the iPhone maker. The accusation against Apple is the first by the European Commission under its landmark Digital Markets Act, or DMA.China is pressing the EU to drop its new tariffs on the country's electric vehicles. Duties of up to 38.1% are due to kick in on July 4, while the bloc investigates what it says are excessive subsidies. Now the two sides have agreed to resume talks on the matter, according to reports by state-controlled media in China.Interesting new partnership between retail giant target and online shopping giant Shopify. If you have a trendy store or some hip products on your Shopify e-commerce website, you may now be able to list those products directly on Target's online marketplace Target Plus. You could even find your products on Target shelves.

National Association of Realtors report home prices rose to a record high in May, with median price now $419k. According to Zillow, households would need to save more than $127,000, to make a down payment on a typical home and afford the mortgage payment.Former president trump yesterday floated a proposal to automatically give green cards to foreign students graduating from American colleges, so they can stay and work here in the country. NTD spoke to an immigration lawyer about the likelihood and potential impact of such a rule.The United States on Friday issued draft rules for banning or requiring notification of certain investments in artificial intelligence and other technology sectors in China that could threaten U.S. national security.

New York Gov. Kathy Hochul on Thursday signed a bill that would allow parents to block their children from getting social media posts suggested by a platform's algorithm, a move to limit feeds critics argue are addictive.McDonald's has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales.Mortgage rates fell this week to their lowest level since early April, taking some pressure off America's unaffordable housing market. The standard 30-year fixed-rate mortgage averaged 6.87% in the week ending June 20, mortgage financing giant Freddie Mac reported Thursday.

A five-year investigation by U.S. officials has uncovered a complex partnership between one of Mexico's most notorious drug cartels and Chinese underground banking groups in the U.S. that laundered money from the sale of fentanyl, cocaine and other drugs, federal prosecutors said Tuesday.Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst John Murphy said on Tuesday. Auto expert Paul Eisenstein gives his take on Murphy's analysis, and why automakers could be collateral damage in the U.S.-China trade friction.The U.S. Senate on Tuesday passed a bill to accelerate the deployment of nuclear energy capacity, including by speeding permitting and creating new incentives for advanced nuclear reactor technologies.Trump Media & Technology Group said on Tuesday the Securities and Exchange Commission has declared effective the company's filing for resale of certain shares and warrants, potentially giving it about $247 million in proceeds.

U.S. senators on Tuesday blasted the CEO of Boeing for the planemaker's tarnished safety record, overshadowing his apology to families who lost loved ones in two 737 MAX crashes and acceptance of responsibility after a January mid-air emergency.U.S. retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lackluster in the second quarter.Texas senator Ted Cruz introduced a new bill today to protect and empower victims of deep fake video technology. EV startup Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs.

U.S. Surgeon General Vivek Murthy on Monday called for a warning label to be added to social media apps as a reminder that those platforms have caused mental health harm to young people, especially adolescents.China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.The U.S. government sued Adobe on Monday, accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees in its most popular subscription plan, and making it difficult to cancel subscriptions.

Wells Fargo last month terminated over a dozen employees after reviewing allegations that they were involved in simulation of keyboard activity, creating an impression of active work, Bloomberg News reported on Thursday.Consumer sentiment deteriorated in June as households worried about inflation and incomes, a survey showed on Friday.Federal authorities and Boeing are trying to figure out why a 737 Max 8 did a rare and dangerous back-and-forth roll during a recent flight.G7 leaders pledged to tackle what they said were harmful business practices by China. The core G7 members -- the United States, Italy, Britain, France, Germany, Japan and Canada -- focused on China's economic clout and what they see as unbalanced markets in areas such as electric vehicles, steel and renewable energy.

Tesla shareholders approved CEO Elon Musk's $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an enticement for keeping his focus on his biggest source of wealth.The head of the Federal Aviation Administration (FAA) said Thursday the agency was too hands off in oversight of Boeing before a January mid-air emergency in a new Alaska Airlines 737 MAX 9.FAA Administrator Mike Whitaker's comments at a Senate Commerce Committee hearing mark the first time the U.S. aviation regulator has acknowledged inadequate oversight in the Jan. 5 incident, in which a door panel blew out during the flight.The number of Americans filing new claims for unemployment benefits increased to a 10-month high last week, suggesting the labor market was losing momentum and keeping hopes of a September interest rate cut from the Federal Reserve alive.

U.S. consumer prices were unexpectedly unchanged in May as cheaper gasoline and other goods offset higher costs for rental housing, but inflation remains too high for the Federal Reserve to start cutting interest rates before September.The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year.The European Commission said it will impose extra duties of up to 38.1% on imported Chinese electric cars from July, risking retaliation from Beijing which said on Wednesday it would take measures to safeguard its interests.

Billionaire Elon Musk said on Monday he would ban Apple devices at his companies if the iPhone maker integrates OpenAI at the operating system level.The National Federation of Independent Business has released its latest data. Its Small Business Optimism Index rose and so did its Uncertainty Index, to its highest reading since November 2020. Once again, small business owners named inflation as their single most pressing issue in operating. General Motors cut its annual EV production forecast and announced a new $6 billion share buyback plan on Tuesday, as the automaker banks on demand from its gasoline-powered models.

Apple unveiled a long-awaited AI strategy on Monday, integrating its new "Apple Intelligence" technology across its suite of apps including Siri and partnering with OpenAI to bring ChatGPT to its devices.Certain smartphone apps, some of which aren't directly related to driving, track driver behavior and send the data to insurance companies. The U.S. Supreme Court agreed on Monday to hear a bid by Meta's Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data by the company and third parties.

The U.S. economy created far more jobs than expected in May and annual wage growth reaccelerated, adding pressure on the Federal Reserve to hold off on interest rate cuts.Stock influencer Keith Gill's first livestream in three years failed to spark enough investor enthusiasm in GameStop on Friday to reverse a nearly 40% slump in the shopping mall retailer's stock after it unveiled a share sale to raise up to $3 billion.A workers' union at Samsung Electronics staged its first walkout on Friday, signaling more assertiveness among employees just as South Korea's most powerful conglomerate races to catch up in chips used in artificial intelligence.

One of the most downloaded news app in the United States, named Newsbreak appears to has ties to China, and is allegedly producing fake news using artificial intelligence. In one example, the app published a piece about a small town shooting in Bridgeton, New Jersey, but the shooting never took place. The European Central Bank went ahead with its first interest rate cut since 2019 on Thursday, citing progress in tackling inflation even as it acknowledged the fight was far from over.SpaceX's Starship rocket survived a fiery, hypersonic return from space and achieved a breakthrough landing demonstration in the Indian Ocean on Thursday, completing a full test mission around the globe on the rocket's fourth try.

Boeing's new Starliner capsule flew its first crew of astronauts to orbit on Wednesday from Florida in a much-delayed test mission to the International Space Station, a milestone in the aerospace giant's ambitions to step up its competition with Elon Musk's SpaceX.Walmart will pay bonuses to its U.S. hourly store workers, including those at its pharmacy and Vision Center stores, the retailer said on Wednesday, in a move that could boost wages for 700,000 front-line staff.Nvidia's rallied to record highs on Wednesday, with the artificial intelligence chipmaker's valuation breaching the $3 trillion mark and overtaking Apple to become the world's second most valuable company.TXSE Group, backed by BlackRock and Citadel Securities, plans to launch Texas Stock Exchange in Dallas, going up against established New York-centric exchanges in a bid to attract global companies.

Royalty payments from drug companies to the National Institutes of Health (NIH) jumped following the COVID-19 pandemic in 2021, according to a new report from nonprofit government watchdog “OpenTheBooks.com”. It says, in 2022 and 2023, pharmaceutical and healthcare companies paid the NIH over $710 million in third-party royalties. A group of current and former employees at artificial intelligence companies OpenAI and DeepMind posted an open letter on Tuesday, they want artificial intelligence companies to be far more transparent about AI's “serious risks”. They also want companies to and promise not to retaliate against current and former employees who voice concerns about the technology they're building.Job openings have fallen to the lowest point in three years in another signal the U.S. economy is slowing. There were roughly 8 million jobs available in April — a second-straight month of shrinking openings.

GameStop shares jumped around 20% on Monday after the stocks influencer known as "Roaring Kitty" returned to Reddit with a post showing a $116 million bet on the embattled video game retailer.Former President Donald Trump gained over 4 million followers within a day of joining TikTok, surpassing the follower count of President Joe Biden's reelection campaign on the Chinese-owned video-sharing app.Oil prices tumbled by $3 a barrel on Monday to their lowest in nearly four months, as investors worried that a complicated OPEC+ output decision could lead to higher supplies later in the year even though demand growth has been slow.

Today is the first day after former president Donald Trump's historic felony conviction in New York. Trump vows to fight the verdict, and we get reactions from a financial analyst and people on Wall Street. U.S. inflation tracked sideways in April and consumer spending weakened, mixed signals for the Federal Reserve that provided little clarity on whether the U.S. central bank will be able to begin cutting interest rates in September.Tesla is recalling 125,227 vehicles in the United States due to a malfunction in its seat belt warning system that can increase the risk of injury in a collision, the National Highway Traffic Safety Administration said on Friday.

U.S. regulators will not immediately allow Boeing to increase 737 MAX production as it addresses ongoing safety issues, the agency's administrator said on Thursday, after a three-hour meeting with company officials, including outgoing CEO Dave Calhoun.The U.S. economy grew more slowly in the first quarter than previously estimated, after downward revisions to consumer spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates at least once before the end of the year.Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm. Lisa Bernhard has more.