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Investments and Business

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Trump fires labor statistics boss hours after the release of weak jobs report

Karem Wintourd Penn

In a move that stirred immediate reactions across Washington, former President Donald Trump dismissed the director of the Bureau of Labor Statistics (BLS) just hours after a jobs report revealed…

Wall Street edges back from its records as a busy week picks up momentum

Investments and Business

Wall Street eases from record marks as busy week advances

Karem Wintourd Penn

U.S. stocks saw a slight decline after achieving record highs recently, as investors managed a hectic week packed with corporate earnings reports, economic news, and continuing discussions about potential changes…

Stellantis reinstates guidance but flags 'tough decisions' after .7 billion tariff impact

Investments and Business

Stellantis updates guidance, points to ‘tough decisions’ after $1.7 billion tariff expense

Karem Wintourd Penn

Automotive giant Stellantis has officially updated its financial guidance following a significant $1.7 billion impact from new tariffs, signaling a recalibration of its global strategy. While the company remains optimistic…

Auction sales fall 6% in the first half, raising fears of an art market shift

Investments and Business

Art market faces uncertainty as auction sales decline 6% in the first half

Karem Wintourd Penn

Income from auctions dropped about 6% in the first half of the year relative to the identical timeframe last year, leading to renewed worries regarding the robustness of the global…

Crypto kidnapping: How armed gangs are hunting the internet's high rollers

Investments and Business

Crypto kidnapping: Investigating the threat to internet’s financial elite

Karem Wintourd Penn

In today’s digital economy, cryptocurrencies have created a new class of millionaires. But this digital wealth has also attracted a dangerous kind of attention — not from hackers, but from…

Meta is shelling out big bucks to get ahead in AI. Here’s who it’s hiring

Investments and Business

Meta’s AI ambitions: The high-profile hires behind big spending

Karem Wintourd Penn

Meta is actively striving to establish its position in the fiercely competitive artificial intelligence sector, with a significant aspect of this approach focusing on significantly growing their workforce. As the…

Trade deal on US tariffs within reach, says EU, as 1 August deadline nears

Investments and Business

EU says US tariff trade agreement within reach ahead of 1 August

Karem Wintourd Penn

As we approach August 1, significant advancements seem to be occurring in the trade discussions between the United States and the European Union. Representatives from both parties have suggested that…

Trump bickers with Powell over Fed renovation costs

Investments and Business

Trump presses Powell on Federal Reserve renovation costs

Karem Wintourd Penn

Conflicts have resurfaced between ex-President Donald Trump and Federal Reserve Chair Jerome Powell, concerning the anticipated costs related to upgrading the Federal Reserve’s infrastructure. As the dialogue around possible changes…

Mike Lynch’s Estate Hit by 0 Million-Plus Court Order

Investments and Business

Mike Lynch’s Estate Faces $900 Million-Plus Court Order

Karem Wintourd Penn

British technology entrepreneur Mike Lynch has been ordered by a U.K. court to pay more than $900 million in damages, marking a significant development in a lengthy legal saga that…

Jul

Investments and Business

GM Profit Falls as $1.1 Billion Tariff Costs Bite

Karem Wintourd Penn

General Motors (GM), one of the most prominent automotive manufacturers in the world, recently reported a noticeable contraction in its profit margins. This downturn was significantly influenced by the financial…