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U.S. Household Wealth Hits Record $163.8 Trillion in Q2, Fueled by Stocks and Real Estate

Sep 13, 2024 16:37 pm UTC| Business Economy

U.S. household wealth soared to a record $163.8 trillion in the second quarter, boosted by robust gains in the stock market and rising real estate values. A $1.8 trillion increase in real estate holdings and $700 billion...

OpenAI Draws Major Funding from Tiger Global and Industry Giants

Sep 13, 2024 16:37 pm UTC| Technology Business

In a significant development for the AI sector, OpenAI is poised to receive substantial investments from key players like Tiger Global Management. The funding round highlights the increasing demand for sophisticated...

Fed Faces Decision Between 25 or 50 Basis Point Rate Cut Amid Economic Uncertainty

Sep 13, 2024 16:34 pm UTC| Business Economy

The Federal Reserve is grappling with whether to cut interest rates by 25 or 50 basis points in its upcoming meeting, according to The Wall Street Journals Nick Timiraos. Conflicting economic signals, including persistent...

AI Startup Poolside Approaches $3 Billion Valuation Without Releasing Its First Product

Sep 13, 2024 16:31 pm UTC| Business Technology

Poolside, an AI software development startup, is reportedly nearing a $3 billion valuation after securing nearly $500 million in funding. The Paris-based company, founded in 2023, has yet to release its first product but...

Aimé Leon Dore x New Balance 475 Releasing in 2024, Stone Island Debuts 991v2 Trio

Sep 13, 2024 16:28 pm UTC| Business Life

The highly anticipated Aimé Leon Dore x New Balance 475 is slated for a 2024 release, continuing the brands successful partnership. Meanwhile, Stone Island reunites with New Balance for three new 991v2 colorways,...

Adobe Lowers Q4 Forecast Amid Weaker AI Tool Demand and Economic Challenges

Sep 13, 2024 16:25 pm UTC| Business Technology

Adobe announced on September 12 that its fourth-quarter earnings would fall below analysts expectations due to lower demand for its AI-integrated editing tools. In response to the weaker forecast and challenging economic...

Former Nikola CEO Trevor Milton Ordered to Pay $167.7 Million to Company Over Fraud

Sep 13, 2024 16:22 pm UTC| Business

Trevor Milton, former CEO of Nikola, has been ordered to pay $167.7 million to the company for making false and misleading statements. The ruling, delivered by U.S. District Judge Diane Humetewa, comes after Miltons...

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Economy

Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows

Malaysias central bank has announced new measures to support the ringgit after the currency weakened more than 4% in June, driven largely by foreign investor caution and expectations of higher U.S. interest rates. Bank...

Bessent Says U.S. Must Strengthen Supply Chains and Economic Security

U.S. Treasury Secretary Scott Bessent said the Trump administration is focused on strengthening supply chain resilience to protect critical industries from economic disruptions, pandemics, geopolitical conflicts, and...

South Korea Remains MSCI Emerging Market Despite Reform Progress

South Korea will remain classified as an emerging market by MSCI after the global index provider decided not to upgrade the country to developed market status in its latest market accessibility review released on Tuesday....

South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery

South Koreas benchmark KOSPI index staged a strong recovery on Wednesday, climbing 3.4% to 8,480.21 points after suffering a sharp sell-off in the previous session. The rebound was driven largely by gains in major...

Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive

Australias inflation rate eased more than expected in May, offering signs that price pressures may be gradually cooling and strengthening the case for the Reserve Bank of Australia (RBA) to keep interest rates unchanged in...

Politics

US Senate Approves War Powers Resolution Urging Trump to End Iran Military Action

The U.S. Senate has approved a war powers resolution directing President Donald Trump to halt U.S. military involvement in Iran, marking a significant congressional challenge to the administrations foreign policy. The...

Crimea Power Outage After Ukrainian Drone Attack, Russian Authorities Say

Power supplies were disrupted in Sevastopol, the largest city in Russian-annexed Crimea, following what local Russian-installed authorities described as a Ukrainian attack on energy infrastructure. Mikhail Razvozhayev, the...

Cait Conley Wins Democratic Nomination, Sets Up Key House Battle Against Mike Lawler in New York

Cait Conley, a U.S. Army veteran and former national security official, has secured the Democratic nomination to challenge Republican Congressman Mike Lawler in New Yorks highly competitive 17th Congressional District. The...

U.S. Eases Iran Team Travel Restrictions Ahead of Seattle World Cup Match

The United States has relaxed travel restrictions for Irans national soccer team ahead of its upcoming FIFA World Cup match in Seattle, allowing the squad to enter the country two days before kickoff instead of just one...

Peru Election Dispute Deepens as Roberto Sanchez Rejects Runoff Results

Perus presidential election dispute intensified on Tuesday after leftist candidate Roberto Sanchez announced that he would not recognize the outcome of the tightly contested presidential runoff, alleging electoral fraud...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test

Anthropics advanced artificial intelligence model identified vulnerabilities in classified U.S. government computer systems during a recent security testing exercise, according to a report by the Associated Press citing a...

Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan

Samsung Electronics shares rallied sharply on Wednesday after a report suggested the company could launch a substantial share buyback program worth nearly 90 trillion won ($59 billion) over the next three years. The...

SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom

South Korean memory chip giant SK Hynix is reportedly preparing to take a major step toward a U.S. market debut by filing documents for an American Depositary Receipt (ADR) offering with South Koreas financial regulator....

Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock

Cerebras Systems delivered a strong revenue outlook for 2026 that exceeded Wall Street expectations, but investors remained cautious as the companys profit margin forecast highlighted the challenges of competing with AI...

SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist

SpaceX (NASDAQ: SPCX) recovered modestly on Tuesday, closing 0.9% higher at $156.06 after briefly falling below its post-IPO opening price during intraday trading. The stock touched a low of $147.11, slipping beneath the...