The US government’s intervention in the collapse of two central banks has already involved hundreds of billions of dollars. This raises the question of whether ordinary Americans will eventually bear the financial burden and the final cost. It may take months to…
As the US government bumped against its debt limit on Thursday, the Treasury Department had to take “extraordinary” accounting steps to avoid default, raising concerns about whether the country can sidestep an economic crisis. Treasury Secretary Janet Yellen urged the Congress to…
Ford Motor Co.’s electric vehicle (EV) business has lost $3 billion before taxes during the past two years and is expected to lose a similar amount this year, but the automaker is undaunted, and executives say that its EV unit should be…
It was a scene reminiscent of the financial crisis that unfolded nearly 15 years ago: Regulators and policymakers in Washington, alarmed by an emerging banking sector emergency, turned to Wall Street for assistance. This week, the crisis centred on San Francisco’s First…
Microsoft has announced that it is making a “multiyear, multibillion dollar investment” in OpenAI, a San Francisco-based artificial intelligence startup. This is the third stage of a partnership between the two companies that began with a $1 billion investment by Microsoft in…
Longstanding issues at Credit Suisse culminated in an unprecedented stock decline this week, igniting concerns of a banking crisis spreading from the U.S. to Europe. The Swiss bank has faced several problems over the years, from poor hedge fund bets to a…
Rivian, a new electric vehicle company that went public in 2021, has seen its share price drop 84% since its debut. However, the company’s future may not be as bleak as it seems. The next few years could bring improvements to the…
Amazon, the world’s largest online retailer, is facing its first-ever strike in the United Kingdom as workers at its Coventry fulfillment center walked out on Wednesday over pay and working conditions. The latest strike in a wave of industrial action across the…
Israel’s tech industry, long considered the driving force behind the country’s economy, is now pushing back against the new government’s far-right agenda. In an unprecedented move, tech leaders are speaking out against policies they believe will drive away investors and cripple the…
In a move that could shake up the tech industry, Apple is rumored to be releasing a mixed reality (MR) headset this spring. The company, which has been working on AR/VR technology for years, has reportedly shelved its AR glasses project in…