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HISTORICAL FACTS: 92 - The Untold Story

Gold extends losses on Fed tightening outlook, dollar strength

Gold prices tumbled to a seven-month low on Thursday, nearing $3,985 per ounce, as a robust dollar and anticipation of Federal Reserve interest rate hikes weighed heavily. Traders are factoring in multiple rate increases this year, with a significant chance of a September hike. Investors are now keenly awaiting key…

The Economic Times

Alera Group data breach settlement: Americans could get up to $3,500 in settlement payouts-know who’s eligible and the claim deadline

Alera Group data breach settlement: Americans could get up to $3,500 in settlement payouts-know who’s eligible and the claim deadline

Americans have a limited window to claim up to $3,500 from a $2 million settlement with Alera Group Inc. The insurance firm faced accusations of inadequate data protection, leading to a breach in August 2024 that exposed sensitive personal information. To receive the maximum payout, individuals must provide documented proof…

The Economic Times

AI data center boom hits a human bottleneck — critical skilled labor shortages could slow deployment despite billions in funding

AI data center boom hits a human bottleneck — critical skilled labor shortages could slow deployment despite billions in funding

Data center construction is facing many challenges, and among them is a shortage of skilled hands to assemble the things.

Tom’s Hardware

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4 Reasons Netflix Stock Is a Must-Own Now After the Plunge

Netflix stock hit its 52-week low today. Here are the four reasons why the stock looks like a good buy after the plunge.

'Way out of line': The US government is being sued for executive order restricting foreign access to Project Glasswing

US government order caused Anthropic to pull Fable 5 and Mythos 5 for all users amid security concerns.

Agility Robotics heads to Wall Street in a $2.5B bet on staffing warehouses with humanoids

Agility Robotics, a maker of humanlike robots, is going public on Wall Street

The Independent UK

AI is helping gas stations collude to raise California fuel prices, lawsuit says

A federal lawsuit accuses gas station operators in California of using AI-powered software to illegally collude and raise prices

The Independent UK

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Major gas stations are using AI to keep prices inflated, lawsuit says

Major gas stations are using AI to keep prices inflated, lawsuit says

The federal lawsuit claims major gas chains relied on an AI program that automatically pushed coordinated price adjustments directly to pumps and signs without human intervention

The Independent UK

AI Sovereignty and the Implications of the US Export Restrictions

AI Sovereignty and the Implications of the US Export Restrictions

While the geopolitical implications of AI protectionism have been discussed at length, the economic importance of developing AI sovereignty has been greatly underemphasised.

International Business Times

US new single-family home sales post second straight monthly decline

US new single-family home sales post second straight monthly decline

US new home sales unexpectedly fell in May for the second straight month, hitting a seasonally adjusted annualised rate of 580,000 units, the weakest since January, according to the Commerce Department. The decline was driven by high mortgage rates—around 6.47% for a 30-year loan—and elevated home prices, which continue to…

The Economic Times

LastPass confirms data breach after hacker compromises supply chain — here's what we know

LastPass confirms data breach after hacker compromises supply chain — here's what we know

Plenty of personal data obtained, but passwords seem to be safe.

Why a $700 Dell Stock Price Isn’t as Crazy as It Sounds

Why a $700 Dell Stock Price Isn’t as Crazy as It Sounds

Demand for Dell’s AI servers continues to outpace supply, and Dell is benefiting from a record backlog.

NIKE Earnings Preview: What to Expect

NIKE Earnings Preview: What to Expect

NIKE is set to announce its fourth-quarter earnings this month, and Wall Street expects the company’s EPS to decrease by double digits.

Musk’s SpaceX adds billions in debt while cutting interest

Musk’s SpaceX adds billions in debt while cutting interest

Elon Musk's SpaceX has successfully issued $25 billion in investment-grade bonds, a move that consolidates debt from X and xAI while lowering annual interest costs. This strategic financial maneuver leverages SpaceX's strong revenue streams from Starlink and government contracts to support the ambitious, cash-burning AI ventures.

The Economic Times

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The Economic Times

Meta, Microsoft lead $850 billion boom in data center leases

Tech giants Meta and Microsoft are pouring billions into future data center leases, pushing industry-wide commitments past $850 billion. Meta alone pledged an additional $79 billion, signaling massive AI infrastructure investment. Microsoft also added over $41 billion, despite capacity constraints. This surge highlights sustained, long-term spending on crucial tech infrastructure…

Everybody Loves Your Money

Insurance Now Eats 9% of the Typical Monthly Mortgage Payment — How to Keep Costs from Derailing Your Budget

For years, homeowners focused on mortgage rates, down payments, and property taxes when calculating the cost of owning a home. Now, another expense demands much more attention. Home insurance has become a larger piece of the monthly housing puzzle, and many homeowners feel the impact every time they review their…

International Business Times UK

The New Retirement 'Magic Number' Is Brutal: Americans Need $1.46 Million, but Most Are Far Behind

Americans now aim for $1.46 million for a comfortable retirement, driven by inflation and rising costs. However, many remain far from this goal, highlighting a gap between expectations and reality.

Polymarket's Alleged Fake Trades Don't Justify a Crackdown on Prediction Markets

A Wall Street Journal investigation uncovered $1.9 million in fake bets to market the platform. Punishing the prediction market industry isn't the answer.

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The Guardian - US

Rory Kennedy revisits Boeing in new film sparked by whistleblower’s death: ‘We’ve got to stay at this’

Film-maker talks about her documentary on John Barnett, the Boeing whistleblower who killed himself in 2024

Trump Lets Americans Buy Iranian Oil for the First Time Since the 1980s

As part of peace negotiations, the U.S. Treasury issued an unprecedented total waiver from Iranian oil sanctions.

The Economic Times

Generative AI expanding role in shopping, to enable AI-led purchases: Report

Generative AI is set to revolutionise consumer shopping, moving beyond discovery to completing transactions. Young shoppers, particularly Gen Z, are leading this shift, leveraging AI for product research and even purchases. As AI tools evolve and companies like Amazon and Walmart adapt, expect a new era of "agentic commerce" with…

The Economic Times

US remains global leader in AI, but China rapidly closing gap with cheaper models: JP Morgan

The United States stands at the forefront of AI development, yet China is swiftly closing the gap with cost-efficient AI systems. Chinese companies are making headway in corporate environments by offering significantly lower operational costs than their American counterparts. This trend may accelerate as organisations prioritise cost-cutting, despite the continued…

The Economic Times

Oil Price Today (June 24): Crude oil near 4-month low as more tankers pass through Hormuz. What are experts saying?

Oil prices extended their decline on Wednesday, hovering near the four-month lows touched in the previous session, as signs emerged that more oil tankers stranded in the Gulf since the start of the Iran conflict are preparing to move through the Strait of Hormuz.

Why Micron May Be the Most Undervalued Winner of the AI Boom

Micron's AI-driven surge has pushed its valuation to $1.36 trillion, with Meta and Tesla now within reach. With memory emerging as AI's biggest bottleneck, a $2 trillion valuation is becoming increasingly plausible.

Dollar Moves Higher as Weak Stocks Boost Liquidity Demand

The dollar index (DXY00 ) climbed to a 13-month high on Tuesday and finished up by +0.36%. The dollar rallied on Tuesday's plunge in equity markets, boosting liquidity demand for the currency. The dollar also has carryover support from last Wednesday, when the FOMC projected higher interest rates later this...

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