In a recent panel discussion at the World Economic Forum’s “Summer Davos” meeting in Dalian, China, Wan Gang, the man behind China’s electric car strategy, proposed that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. This suggestion comes at a time when the European
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The recent pause on major parts of the Saving on a Valuable Education (SAVE) plan has left millions of student loan borrowers disappointed and confused about the future of their repayments. One such borrower, Cody Gude, was eagerly awaiting a drop in his monthly payment from $200 to $100, which would have provided him with
The Biden administration recently announced that it will be imposing inflation penalties on 64 prescription drugs for the third quarter of this year. This move aims to lower costs for certain older Americans who are enrolled in Medicare. President Joe Biden has been vocal about his commitment to lowering drug prices in the U.S., and
Southwest Airlines saw a 4% decrease in its shares during premarket trading on Wednesday after the airline revised its second-quarter revenue forecast downwards due to changing booking patterns. The airline now anticipates a decline of 4% to 4.5% in revenue per available seat mile, a significant shift from the 1.5% to 3.5% decrease it had
The housing market continues to face challenges as we move into the summer months. Despite high home prices and increasing mortgage rates, the demand for mortgages remains stagnant. According to the Mortgage Bankers Association, total mortgage application volume saw a minimal increase of just 0.8% from the previous week. This lackluster growth reflects the ongoing
Morgan Stanley is making significant strides in the realm of artificial intelligence with the introduction of a groundbreaking assistant called Debrief. This innovative tool is set to streamline the workflow of the bank’s financial advisors by taking over repetitive tasks, saving valuable time and enhancing productivity. By leveraging the power of AI, Morgan Stanley aims
As Americans, we have long been advised to save diligently for retirement, with 401(k) plans being the main avenue for private retirement savings. While recent data shows that Americans are saving more, the reality is that many individuals are still falling far short of the savings needed to sustain themselves during retirement years. The Vanguard
Europe is facing the risk of falling behind both the U.S. and China in the field of artificial intelligence, according to Prince Constantijn of the Netherlands. He expressed his concerns that Europe’s ambition seems to be limited to being good regulators rather than innovators in the AI space. Constantijn emphasized the importance of bringing clarity,
Chan, the CEO of Hong Kong Exchanges and Clearing Limited, emphasized the importance of broadening the applications of China’s yuan to drive its international use. In a panel discussion during the World Economic Forum’s “Summer Davos” meeting in Dalian, China, she highlighted the need for the currency to have more diverse uses beyond a traditional
FedEx witnessed a significant increase in its shares by over 15% in after-hours trading following the release of its fiscal fourth-quarter results. The company exceeded analyst expectations in both earnings and revenue, with earnings per share coming in at $5.41 adjusted compared to an expected $5.35, and revenue reaching $22.11 billion against an estimated $22.07