Meta, formerly known as Facebook, is pushing the boundaries of mixed reality with its latest offering, the Meta Quest 3. CEO Mark Zuckerberg introduced this groundbreaking headset during the virtual Meta Connect event. Priced at $500, the Quest 3 represents a significant leap forward from its predecessors in terms of performance, mixed-reality features, and design….
UBS saw a sharp drop in its share price following a Bloomberg report about an expanding investigation by the US Department of Justice (DOJ) into suspected compliance failures that enabled Russian clients to evade sanctions. The Swiss Stock Exchange temporarily halted trading in UBS shares due to the substantial price drop, which reached 8% before…
Shares of Evergrande Group experienced another sharp decline on Wednesday, raising concerns about the possibility of the company’s liquidation. Evergrande, once a symbol of China’s property market boom, has seen its stock plummet by 42% this week, with the latest 19% drop closing its stock at just 32 Hong Kong cents (4 US cents). This…
Moody’s Investors Service has issued a warning that the United States’ credit rating could face pressure if the government experiences a shutdown. According to a Moody’s note, such an event would be “credit negative” for the US sovereign. While the note states that government debt service payments would not be affected, and a brief shutdown…
In the midst of the United Auto Workers (UAW) strike against General Motors, Ford, and Stellantis, job security takes center stage. While wages and benefits are important factors, ensuring employment stability is paramount. UAW President Shawn Fain recently highlighted significant progress in negotiations with Ford regarding job security. Notably, when expanding the strike to GM…
US inflation is now much slower than last summer’s red-hot pace, but achieving a “soft landing” and drifting all the way down to the Federal Reserve’s 2% target without a sharp rise in unemployment is not guaranteed. That possibility remains unlikely. Defeating inflation without throwing millions of Americans out of work — a scenario known…
Cheryl Magnusson and her husband wanted to borrow money for a home renovation project earlier this year. They didn’t expect an arduous process. She said they always easily landed loan , including a mortgage in 2009 in the wake of the US housing crisis. At first, Magnusson, a teacher in Arizona who runs a consulting…
Even though the Federal Reserve didn’t hike its benchmark interest rate on Wednesday, it didn’t lower its high-yield either. So it remains at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on financial accounts and products throughout the US economy, that means savers and people…
At any given moment, if you want to know what the Federal Reserve is most likely to do at any of its meetings through the end of 2024, you can head to the Chicago Mercantile Exchange Group’s FedWatch Tool page. There, you will find a bar chart plotting the share of traders predicting a rate…
Gas prices are surging once again in the United States, with the West Coast, particularly California, feeling the pinch. The average gas price in California has soared to $5.76 a gallon, a 30-cent increase in just one week. In the Los Angeles-Long Beach metro area, it reached $6.03 a gallon, a 47-cent hike in seven…