The widening of U.S. junk bond spreads over yields on risk-free Treasuries on Monday indicated that financial markets were perceiving more risk. This came after the biggest daily point surge since March 2023, with stocks seeing a sharp decline as investors sought the safety of U.S. government debt. The ICE/BofA U.S. high yield index option
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The U.S. Commerce Department is reportedly considering a proposal to prohibit Chinese software in autonomous and connected vehicles, a move that could have far-reaching implications for the automotive industry. According to sources familiar with the matter, the Biden administration is expected to introduce a rule that would ban Chinese software in vehicles with Level 3
Google recently faced backlash over its Olympics ad for the chatbot Gemini, which depicted a little girl using artificial intelligence to write a fan letter. The ad, titled “Dear Sydney,” raised concerns about the promotion of automation over authenticity, especially when it comes to creative tasks involving children. Let’s delve deeper into the implications of
Billionaire investor Bill Ackman has decided to postpone the highly anticipated listing of Pershing Square’s U.S. closed-end fund. This decision was communicated through a notice on the New York Stock Exchange’s website. The initial public offering of Pershing Square USA Ltd., with the ticker PSUS, has been delayed with no specific date announced for the
As the Bank of England (BoE) prepares for its upcoming meeting, speculation looms large over whether the central bank will cut interest rates from their current 16-year high of 5.25%. With key policymakers remaining silent due to election rules, investors are left in the dark regarding the potential outcome of the decision. Interest rate futures
Amazon Prime Day, a 48-hour event filled with discounts and deals, has been identified as a significant contributor to worker injuries, as per the findings of a Senate investigation. The Senate’s Health, Education, Labor and Pensions (HELP) Committee recently released the interim results of a year-long inquiry into Amazon’s warehouse working conditions. The investigation coincided
In a surprising turn of events, A24’s drama Sing Sing, featuring Colman Domingo, has made its mark as the third highest limited opening film of the year. The film, set against the backdrop of the Sing Sing Correctional Facility, grossed an impressive $137,119 on just four screens, resulting in a per screen average of $34.3k.
The World Bank, with backing from the U.S. and Australia, is stepping in to provide a financial lifeline for Pacific Island nations. This move comes as Western banks are pulling out of the region, leaving these small countries vulnerable to being cut off from global finance. The region, comprising 18 small countries and territories, spans
The prospect of impending U.S. interest rate cuts is causing a stir among investors, who now find themselves at a crossroads. The dilemma they face is whether to maintain their allegiance to the stalwart Big Tech stocks that have been the backbone of market returns for an extended period, or to pivot towards lesser-loved sectors
Elon Musk’s brain tech startup, Neuralink, has been making waves in the field of brain-computer interfaces (BCIs). Recently, Musk announced that the company hopes to implant its system in a second human patient within the next week. However, after encountering hardware problems with their first participant, the company is striving to make necessary changes to
A gory Hindi action film, “Kill,” is set to open on 827 screens through Roadside Attractions, marking the distributor’s initial venture into the realm of Indian cinema. The movie comes at a time when Indian films are experiencing heightened popularity in North America, with two recent films making their way into the top 10 box
Lionsgate recently announced the release date for the action crime thriller “1992,” starring Ray Liotta in one of his final film roles. The movie is set to hit theaters on Labor Day weekend, August 30. Alongside Liotta, the film features Tyrese Gibson in a co-starring role. In addition, Snoop Dogg has joined the project as
The European Union regulators have recently accused Meta, the parent company of Facebook, of violating antitrust rules by failing to comply with the bloc’s regulations regarding its new ad-supported social networking service. The Commission has criticized Meta’s ad-supported subscription option, labeling it as a “pay or consent” model, which essentially forces users to either pay
In a strategic move to boost its cloud infrastructure services, Amazon Web Services (AWS) has announced that it will double the value of credits offered to some startups. This initiative comes as AWS faces stiff competition from Microsoft in the realm of artificial intelligence services. Starting July 1, startups that have recently raised a Series