Reported 27 days ago
Amazon's CEO Andy Jassy has indicated that the rise of artificial intelligence could lead to a reduction in the company's corporate jobs. In a memo to employees, Jassy stated that AI could enhance efficiency by taking over repetitive tasks, though he did not specify the exact impact on job numbers. Amazon plans to invest over $100 billion in AI infrastructure this year, focusing on innovation and automation.
Source: YAHOO
Reported 27 days ago
The global lead-acid battery industry is facing a significant challenge due to China's export restrictions on antimony, a crucial mineral for battery production and military applications. Since the restrictions were implemented late last year, antimony prices have skyrocketed, leading to increased procurement costs for manufacturers, which are now being passed onto consumers. The U.S. companies, heavily dependent on Chinese supply, are now struggling to source the mineral from alternative markets, with a potential risk that rising prices could compromise production and sustainability in the sector.
Source: YAHOO
Reported 27 days ago
On June 17, 2025, the S&P 500 fell by 0.8% due to increasing tensions in the Middle East following President Trump's tougher stance on Iran. Solar and airline stocks experienced significant losses, with solar companies suffering from a Senate budget proposal phasing out clean energy tax credits. In contrast, Jabil's shares rose 8.9% after exceeding earnings expectations, showcasing strong demand in its AI-driven sectors. Overall, major U.S. equity indexes suffered losses amidst market uncertainties.
Source: YAHOO
Reported 27 days ago
Early Warning Services, the owner of Zelle, is collaborating with fintech giant Fiserv to broaden the reach of its digital wallet, Paze, beyond its seven banking partners. The partnership aims to facilitate merchant adoption and enhance payment processing capabilities, although expansion may take time. Early Warning also seeks to integrate Paze with Fiserv's Clover platform for small businesses and plans to add more card issuers to its wallet, yet it faces competition in a rapidly evolving payment landscape.
Source: YAHOO
Reported 27 days ago
The ongoing conflict between Israel and Iran has led to a spike in oil prices and a dip in global stocks, as investors react to disappointing U.S. economic data and anticipate the Federal Reserve's policy decision. As tensions rise, there's a noted decline in foreign central banks' holdings of U.S. Treasuries, signaling a shift away from dollar-denominated assets. The market's cautious sentiment is compounded by concerns over potential tariff impacts and slower economic growth.
Source: YAHOO
Reported 27 days ago
This article discusses critical mistakes that retirees often make regarding their financial planning. It emphasizes the importance of estate planning for everyone, not just the wealthy, and highlights common pitfalls such as underestimating expenses, overly conservative investment strategies, and poorly managing tax implications. Experts suggest a balanced approach to retirement finances, considering both quality of life and legacy for heirs, as well as effective strategies for tax efficiency and income generation.
Source: YAHOO
Reported 27 days ago
On June 17, 2025, oil prices are climbing due to ongoing tensions between Israel and Iran, with analysts warning they could exceed $90 a barrel. JetBlue is struggling, announcing flight cuts as it faces economic uncertainty, while T-Mobile's shares drop after SoftBank reportedly sold its $4.8 billion stake in the company, potentially to fund AI initiatives.
Source: YAHOO
Reported 27 days ago
With summer travel costs increasing by an average of $259 per person, 90% of travelers plan to cut costs this season, leading many to consider home swapping as a budget-friendly alternative. Platforms like Kindred facilitate this by connecting people who swap their homes, allowing travelers to save significantly compared to traditional accommodations. This trend is particularly appealing to remote workers and families, who benefit from comfortable and spacious settings, making vacations more accessible.
Source: YAHOO
Reported 27 days ago
Lennar (LEN) announced mixed earnings for the second quarter and a weaker-than-expected third-quarter outlook, revealing challenges in new orders and deliveries. Expert analysis highlights how mortgage rate buy-downs are becoming crucial for driving home sales in a market facing declining consumer confidence. As the housing sector struggles, the company's flat gross margin guidance offers a glimmer of hope, suggesting potential resilience despite current pressures.
Source: YAHOO
Reported 27 days ago
Proposed changes by Senate Republicans to President Trump's tax-cut and spending bill are anticipated to elevate U.S. debt levels, aligning closely with the House's projections. The modifications, currently under negotiation, aim to make some business tax breaks permanent while restricting state and local income tax deductions. Analysts suggest these changes could add hundreds of billions to the bill's estimated 10-year cost, potentially raising U.S. government debt by $2.4 trillion to $5 trillion, raising concerns in the bond market.
Source: YAHOO
Reported 27 days ago
Mitsubishi Motors has announced an average price hike of 2.1% on its U.S. vehicles, citing rising costs from tariffs imposed by the Trump administration. This change follows a significant increase in U.S. sales and comes as the company aims to align with market expectations while continuing to invest in new technologies and models.
Source: YAHOO
Reported 27 days ago
Coinbase is attempting to obtain approval from the U.S. Securities and Exchange Commission (SEC) to offer 'tokenized equities' to its users, which would enable stock trading through blockchain technology. The chief legal officer, Paul Grewal, emphasized the importance of this move, stating it could lower trading costs and facilitate faster transactions. However, concerns about market liquidity and regulatory standards remain. Currently, tokenized equities are not available for trading in the U.S. and Coinbase would require SEC approval to proceed.
Source: YAHOO
Reported 27 days ago
Senate Republicans have unveiled a budget bill that notably diminishes tax credits for wind, solar, and hydrogen energy while providing protections for nuclear and geothermal energy. The bill proposes a swift end to residential solar tax credits and tighter timelines for commercial projects, with incentives for hydrogen ceasing this year. Conversely, geothermal and nuclear technologies receive extended tax credit phases, aligning with GOP aims to support certain renewable energies while limiting others.
Source: YAHOO
Reported 27 days ago
Own is a newly launched decentralized social media app designed to revolutionize the creator economy by leveraging blockchain technology and a token economy. Unlike traditional platforms, creators on Own can earn tokens based on engagement without minimum follower or post count requirements. The app offers diverse monetization options, such as tipping and brand sponsorships, allowing creators to retain a larger portion of their earnings compared to competitors. With features like content licensing and a unique ranking system, Own aims to provide creators globally with a fair and sustainable earning opportunity.
Source: YAHOO
Reported 27 days ago
The benchmark diesel price saw its largest increase since January, rising 10 cents per gallon to $3.571, attributed primarily to spikes in ultra-low sulfur diesel (ULSD) prices amid geopolitical tensions in the Middle East. While futures prices reacted quickly, retail prices lagged behind, with local conditions contributing to variances. The International Energy Agency also revised its 2025 oil demand growth estimate downward, signaling a shift in market dynamics as prices continue to climb.
Source: YAHOO
Reported 27 days ago
Retail sales in the U.S. fell by 0.9% in May as consumers curtailed their spending ahead of anticipated tariff increases, especially in the auto sector, which saw a significant decline in sales. While the data reflects some strength in consumer spending, economists predict further setbacks as shoppers adapt to the upcoming tariffs, suggesting that the surge in buying seen in earlier months was merely a preemptive response to higher prices.
Source: YAHOO
Reported 27 days ago
Jabil stock soared to a record high, leading the S&P 500 gainers after the company reported fiscal third-quarter results that surpassed estimates. The circuit board manufacturer saw a 16% increase in revenue year-over-year, reaching $7.83 billion, and adjusted earnings per share of $2.55, prompting the firm to raise its full-year projections to $29 billion in revenue and $9.33 in core EPS.
Source: YAHOO
Reported 27 days ago
Oracle has unveiled the Oracle Defense Ecosystem, a program aimed at facilitating connections between emerging technology companies and federal government clients. The initiative is designed to help these firms navigate the complexities of government procurement, ensuring compliance with federal standards. Members of the ecosystem will benefit from Oracle's cloud technology and AI software from Palantir, aiding them in securing contracts with national security agencies.
Source: YAHOO
Reported 27 days ago
Mastodon has updated its terms of service to explicitly ban the scraping of user data for AI model training, following similar actions by other social networks. Starting July 1, the platform prohibits unauthorized data extraction and the development of automated systems. However, this policy applies only to the Mastodon.social server, leaving the possibility for data scraping on other servers within the fediverse. Additionally, Mastodon is raising its minimum user age limit from 13 to 16 globally.
Source: YAHOO
Reported 27 days ago
Republican leaders in the Senate are pushing for urgent negotiations to amend a newly proposed tax bill that currently lacks sufficient votes to pass. Key points of contention include aggressive Medicaid cuts and a contentious $10,000 limit on the state and local tax deduction (SALT), which risks alienating moderate members within the party. With the goal of passing the bill by July 4, leaders face hurdles, including pushback from both conservative and moderate factions, and it remains uncertain whether a compromise can be reached in time.
Source: YAHOO
Reported 27 days ago
US solar stock prices fell sharply after Senate Republicans proposed a bill to terminate clean energy tax credits earlier than anticipated, undermining prior hopes that recent House cuts would be softened. Companies such as Sunrun and SolarEdge saw significant declines, sparking concerns over the future of the solar industry as the legislation threatens to rapidly eliminate incentives critical for residential solar installations.
Source: YAHOO