Business – Page 611

Business, Crime, World News

US Seismologist Detained in China on Espionage Charges for Nearly Two Years

A U.S. seismologist specializing in nuclear test detection has been held in China for nearly two years on espionage charges, his family revealed. Chen Youlin, 54, was reportedly arrested in November 2024 while visiting family in Beijing. His family has chosen to speak out now due to the lack of progress in securing his release. […]

Business, World News

China’s Economic Growth Slows in Q2 Amid Domestic Challenges, Strong Exports Offer Mixed Signals

China’s economy experienced a notable slowdown in the second quarter of the year, with official gross domestic product (GDP) figures revealing a 4.3% expansion between April and June. This growth rate falls below Beijing’s annual target and represents a decrease from the 5% recorded in the first quarter. The deceleration is primarily attributed to subdued […]

Business, Stocks, Technology, Trade

U.S. Commerce Official Confirms Limited Shipments of Nvidia H200 Chips to China

A senior U.S. trade official has confirmed that only a minimal volume of Nvidia’s H200 artificial intelligence chips has been exported to China and Hong Kong. During a recent congressional hearing, Under Secretary of Commerce for Industry and Security Jeffery Kessler stated that while some shipments have occurred under specific licenses, the total quantity remains […]

Auctions, Business, Science, Stocks

Record-Breaking T. Rex Fossil ‘Gus’ Fetches Historic $50.1 Million at Auction

A prehistoric giant has made history in the modern art and collectibles market. A remarkably preserved Tyrannosaurus rex skeleton, affectionately named “Gus,” has sold for a staggering $50.1 million at a recent auction. This monumental sale officially crowns Gus as the most expensive dinosaur fossil ever sold, eclipsing the previous record set just last year […]

Business, Finance, Policies, Stocks

Social Security COLA Projections Dip as Inflation Cools, Affecting 2027 Benefits

New projections indicate a potential decrease in the Social Security cost-of-living adjustment (COLA) for 2027, with estimates now hovering between 3.7% and 3.8%. This downward revision is largely attributed to a recent cooling of inflation, particularly driven by a decline in energy prices, as revealed by government data released this week. Independent Social Security and […]

Business, Policies, Stocks, Technology

New York Implements Landmark One-Year Moratorium on Large-Scale AI Data Centers

New York has become the first state in the U.S. to impose a statewide ban on the construction of new hyperscale data centers. Governor Kathy Hochul signed an executive order this week that halts the development of any new facilities requiring 50 megawatts or more of power for a period of one year. The move […]

Business, Policies, Stocks

Bipartisan Senate Coalition Unveils PROMISE Act to Tackle Social Security Solvency Crisis

A bipartisan group of U.S. senators has introduced the PROMISE Act, a legislative proposal designed to force congressional action on the looming Social Security funding shortfall. With the latest trustees report indicating that the program’s retirement trust fund could be depleted by late 2032, the bill seeks to establish a structured, transparent process for debating […]

Business, Finance, Stocks, Technology

Wall Street Giants Reap Record Profits as AI Infrastructure Spending Surges

The global artificial intelligence boom is proving to be a significant windfall for major financial institutions, extending far beyond the traditional tech sector. Goldman Sachs and JPMorgan Chase recently reported record-breaking quarterly revenues, driven by a massive surge in equities trading, investment banking activity, and capital market transactions directly linked to the rapid expansion of […]

Business, Finance, Stocks, Technology

Lucid Motors Rejects Bankruptcy Speculation Amidst Market Challenges and Stock Volatility

Lucid Motors has emphatically denied recent reports suggesting the luxury electric vehicle manufacturer was exploring options such as filing for Chapter 11 bankruptcy protection or going private. The company’s shares experienced significant volatility following the initial speculation, plummeting over 40% at one point before recovering some losses to close down 16% on Tuesday. Trading was […]

Business, Finance, Stocks, World News

Inflation Cools in June as Energy Costs Drop, but Geopolitical Risks Loom

The U.S. consumer price index (CPI) rose by 3.5% in June 2026 compared to the previous year, marking a significant deceleration from the 4.2% annual rate recorded in May. This shift represents the first pullback in annual inflation since January, providing a brief moment of relief for consumers and policymakers alike. The primary driver behind […]