A quick trip to your local supermarket may be about to end. Supermarkets, both small and large, are closing across the country as chains eliminate underperforming stores. In an earnings call last year, grocery giant Kroger said it would reduce its store count by 60 locations over the next 18 months, citing slow sales. The … Read more
What Happened: AI infrastructure stocks rose Wednesday after spectacular results from AI server hardware maker Supermicro (SMCI) and neocloud providers CoreWeave (CRWV) and Nebius Group (NBIS). IA hosting pairs Applied Digital (APLD) and IREN (IREN) rose. Other areas of the AI infrastructure trade also gained, including optical products maker Lumentum (LITE). Complex memory and storage … Read more
AI was supposed to destroy jobs. Where is the slaughter? The Guardian These 10 ‘AI-proof’ jobs require ‘uniquely human’ skills, report says – you need to ‘react in real time’ CNBCAI is making these jobs ‘irreplaceable’ even as hiring rates fall 24% ForbesAI is cutting graduate jobs. These are the skills young people will need … Read more
The International Energy Agency (IEA) on Wednesday slashed its forecast for global oil demand this year, with supplies still limited by the disruption of shipping through the Strait of Hormuz and high prices deterring buyers. Demand is expected to fall by 1.6 million barrels per day, compared with the forecast drop of one million barrels … Read more
Jill Hall, US equity strategist at BofA, explains why the Russell 2000 is the best-performing benchmark. Bank of America (BofA) is launching a $250 billion initiative to finance a broad buildout of American infrastructure, including data centers, semiconductor facilities, power generation and transportation projects. The banking giant announced Wednesday that its Critical Infrastructure Financing Initiative … Read more
By Lucia Mutikani WASHINGTON, Aug 12 (Reuters) – U.S. consumer prices likely rose moderately in July, which could further dampen financial market expectations that the Federal Reserve will raise interest rates this year. Wednesday’s Consumer Price Index report from the Labor Department would come on the heels of last week’s news of surprise job losses … Read more
AI cloud provider CoreWeave (CRWV) reported its second-quarter earnings after the bell on Tuesday, narrowing its losses per share and meeting revenue expectations for the quarter. Shares rose more than 8% following the announcement. “CoreWeave reached a major inflection point this quarter as our scale began to translate into increased operating leverage,” CEO Michael Intrator … Read more
The United States Department of Agriculture has recalled about 30,000 pounds of Argentine beef because it was not inspected before entering the country. The different cuts of raw beef from the company Corte Argentino USA were sent to retailers and grocery distributors in Florida and Texas. The meat was produced May 15-20 and had freezer … Read more
The Social Security Administration said Tuesday that it is adding 14 conditions to its fast-track disability list, which can help people with these conditions speed up the process of receiving benefits. The program, known as the Compassionate Allowance List, was created in 2008 to expedite disability applications for people with rare, life-threatening or other serious … Read more
Trump Media & Technology Group aims to fuel growth by selling faster access to President Trump’s Truth Social posts for up to $100,000 a month. CEO Kevin McGurn told investors Monday that the company has signed up “more than 10” customers for its Truth API, or application programming interface, data feed, which he said came … Read more