United Auto Workers President Shawn Fain recently released a video criticizing Stellantis CEO Carlos Tavares, accusing him of price gouging consumers and failing to uphold parts of the union’s labor contract with the automaker. Fain’s comments in the video highlight a growing tension between the CEO and the union leader in the aftermath of contentious
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Vice President Kamala Harris recently announced an economic plan that includes an expanded child tax credit of up to $6,000 for families with newborn children. This proposal aims to build on the previous child tax credit enacted through the American Rescue Plan in 2021. Harris’ plan would provide up to $6,000 in total tax relief
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The demand for power from data centers is expected to triple by 2030, driven by the rapid scaling up of artificial intelligence technology. This growth is projected to lead to an explosion in the use of renewable energy and natural gas, according to a recent report by Mizuho Securities. By the end of the decade,
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Private jet flights have seen a substantial decrease of 15% in the first half of this year compared to the peak in 2022. The once-thriving industry is now facing challenges due to diminishing demand and a changing landscape in high-end travel. Despite a temporary surge during the Summer Olympics, where there were a record number
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As investors approach retirement, they are faced with a significant threat known as “sequence of returns risk.” This risk, also referred to as “sequence risk,” is often overlooked and misunderstood by retirees, but its impact on their retirement nest egg can be detrimental. The issue arises when poor investment returns coincide with withdrawals, particularly in
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Chili’s, a casual dining chain, has experienced a significant increase in same-store sales of nearly 15% in its latest quarter. This success has been attributed to an ad campaign targeting fast-food chains and the popularity of an appetizer that went viral on TikTok. However, despite the positive growth, there are new challenges that the company
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Financial technology firm Klarna is making waves in the banking industry with the introduction of new products that aim to disrupt traditional retail banking. The company, known for its buy now, pay later loans, is expanding its offerings to include a checking account-like product and a cashback program. Klarna’s CEO and founder, Sebastian Siemiatkowski, highlighted
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Alibaba, the e-commerce giant, faced disappointment in the June quarter of 2024 as it missed both top and bottom-line expectations. The company reported a revenue of 243.24 billion Chinese yuan, falling short of the 249.05 billion yuan expected. Similarly, the net income of 24.27 billion yuan was below the anticipated 26.91 billion yuan. This resulted
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