As President Biden is about to welcome Speaker Kevin McCarthy and other congressional leaders to discuss the debt ceiling at the White House on Tuesday, there seems to be little hope for a quick resolution of what threatens to become a drawn-out game o…
As the debate over the U.S. debt ceiling and a possible default continues, the White House Council of Economic Advisers (CEA) published a new analysis, warning against the possible consequences of an actual breach of the debt ceiling. There is broad co…
Despite new turbulences in the banking sector, the Fed decided to stay the course and keep raising interest rates in its battle against inflation. Following a two-day meeting of the Federal Open Market Committee (FOMC), Fed chairman Jerome Powell annou…
In keeping with the theme of this earnings season – low expectations surpassed – Amazon reported better-than-expected results on Thursday. The e-commerce giant that had struggled to live up to expectations in 2022, reported a net profit of $3.2 billion…
Uber, the ride-hailing giant, has announced it will work with BP to become a zero-tailpipe emissions mobility platform in the United States, Canada and Europe by 2030, and globally by 2040. To make this happen, the company plans on switching to a 100 p…
Having proven surprisingly resilient in the face of the Fed’s aggressive tightening policy over the past year, the U.S. economy started to show signs of weakness in the first three months of 2023. Annualized real GDP growth slowed to 1.1 percent in Q1 …
The busiest air routes in the world are all domestic flights. Yet, the frequent flyer nation of the United States can’t hold the candle to the high demand for air travel in Asia. There, the busiest route has the capacity to transport more than three ti…
Boeing’s latest quarterly results didn’t deliver the much-needed boost to the company’s bottom line. Despite beating expectations for revenue, a net loss of $425 million (while an improvement on recent quarters) was not enough to get the aircraft produ…
Mark Zuckerberg may be certain that the future of his company lies in the metaverse, but to the uninitiated/skeptics among us, it continues to look like a giant money pit. In the first three months of 2023, the company’s Reality Labs division, i.e. its…
As the situation at Credit Suisse turned from bad to worse in late March, resulting in its state-brokered takeover by rival UBS, the 167-year-old bank’s customers rushed for the exits, taking their money with them. According to the bank’s latest and po…
