The market has priced in a roughly 93% chance that the Fed will raise rates by 25 basis points at tomorrow’s meeting as Kevin Warsh’s FOMC attempts to rein in inflation. That may disproportionately hit the bottom of America’s “K-shaped” economy, raising debt service costs without providing legitimate relief, according to Yung-Shin Kung, CIO of … Read more
Coast Guard personnel and FBI agents boarded a commercial oil tanker bound for Texas last month before it could reach a port after determining that the ship’s network may have been compromised by a foreign actor while crossing the Atlantic, the Coast Guard said Tuesday. On Aug. 21, a specialized team of Coast Guard law … Read more
President Donald Trump berated Jerome Powell for years as he tried to pressure Powell, then chairman of the Federal Reserve, to lower interest rates. So far, he has given a pass to new Federal Reserve chief Kevin Warsh, whom he nominated this year. Now, just four months into Warsh’s term, the honeymoon may be over. … Read more
Bessent defends faltering bond market intervention Treasury Secretary Scott Bessent testified before the House Financial Services Committee on Tuesday. Credit… Haiyun Jiang/The New York Times Treasury Secretary Scott Bessent defended his intervention in the U.S. bond market on Tuesday, telling lawmakers that a decision to buy back U.S. debt last week was successful, even as … Read more
Volvo’s updated XC60 and XC90 will be the longest-range plug-in hybrids in the U.S. Owners can cover most of their driving needs simply by using battery power. The XC60’s EV range is greater than that of the original Nissan Leaf. Office commutes, everyday errands and even weekend getaways can now be done exclusively on battery … Read more
Five takeaways from Canada’s push to court the world’s richest investors BBC ‘Mega’ tax breaks, private money for airports: How Carney’s investment summit unfolded CBCBlackRock, Blackstone CEOs back Carney’s investment push in Canada Bloomberg.com Canada ‘had no choice’ but to walk away from trade talks with US: Former Prime Minister Harper. Live updates here. CTV … Read more
In recent days there have been some shocking claims about the safety of AI: we face a 10% chance of doom; AIs are worse than nuclear weapons; a “botnet” threatens the entire Internet; It’s all a big technological psychological operation. Below we look at six statements and reactions to them. ‘In 6 to 12 months… … Read more
Prime members don’t have to wait until next month to shop on October’s Prime Day (aka Prime Big Deal Days). After confirming the official sale dates this morning, October 6-7, Amazon dropped prices on dozens of products, and some are even at their lowest prices, like the Garmin Vívoactive 6. We don’t know how long … Read more
Phil Knight, former chairman and founder of Nike, attends the Allen and Co. Sun Valley annual press conference in Sun Valley, Idaho, July 11, 2019.Brendan McDermid | ReutersNike co-founder Phil Knight and his wife, Penny, will donate $1.1 billion to Providence St. Vincent Medical Center in Oregon and its Providence Heart Institute, according to a … Read more
Hello and welcome to TechScape. I’m Blake Montgomery, US technology editor at the Guardian. Today in tech, we’re discussing last week’s apoplexy over AI safety. Why was this warning about the AI apocalypse made public when so many others were not? Less than a week ago, a young Anthropic researcher announced his resignation from the … Read more