The numbers are getting uglier for potential homebuyers and homeowners looking to save money. Mortgage interest rates jumped again last week, causing mortgage application volume to fall 6.6 percent on a seasonally adjusted basis from the previous week. Volume was just 3.5 percent higher than a year ago, according to […]
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Amazon is ‘knocking on the door’ for a breakout to $1,500, says trader
Amazon is just one click away from crossing $1,500, says TradingAnalysis.com founder Todd Gordon. Shares of the online retailer are up 25 percent this year and trading just 1 percent below the next round-number milestone. The trader sees two bullish signs in charts of Amazon that lead him to believe […]
Market sell-offs ‘tend to happen in three waves’ and the last one is coming
The recent sharp pullback and volatility in global equity markets is not yet over, according to the chief executive of financial advisory firm Longview Economics, who said that market models show a “third wave” of the market correction is coming. “The idea that it’s all done in one sell-off is, […]
Hackers hijack Tesla’s cloud system to mine cryptocurrency
Tesla’s cloud system was hijacked by hackers who used it to mine cryptocurrency, according to researchers. Hackers were able to infiltrate the automaker’s Kubernetes administration console because it was not password protected, cybersecurity firm RedLock said Tuesday. Kubernetes is a Google-designed system aimed at optimizing cloud applications. This left access […]
Apple reportedly in talks to buy cobalt directly from miners
Apple Inc is in talks to buy long-term supplies of cobalt for iPhone batteries directly from miners, Bloomberg reported on Wednesday, citing sources. The iPhone maker is seeking contracts to buy several thousand metric tons of cobalt for five years or longer, Bloomberg reported, citing an anonymous source. Cobalt prices […]
Malicious use of A.I. could turn self-driving cars and drones into weapons, top researchers warn
With advances in artificial intelligence, the risks of hackers using such technologies to launch malicious attacks are increasing, top researchers warned in a report released on Wednesday. They could use such AI to turn consumer drones and autonomous vehicles into potential weapons, for instance, said researchers from universities such Oxford, […]
Hundreds of KFC branches in the UK to remain closed amid ongoing chicken shortage
KFC expects some of its U.K. outlets to remain closed for the rest of the week, as a result of chicken shortages across the country. Around half of the fast-food chain’s 900 stores in Britain were closed Tuesday evening. Many of those still open are offering a reduced menu or […]
Queen shocks fashion world, joins Vogue’s Anna Wintour on the front row at London Fashion Week
There are not many places in which Queen Elizabeth II has not made an appearance, but for the first time in her life the 91-year-old attended London Fashion Week Tuesday, surprising fashionistas at the show. She sat on the front row at British designer Richard Quinn’s show, next to Vogue […]
One potential threat to the stock market may be playing out
As investors come to terms with the impending end of easy monetary policy, a new threat looms: The heavy supply of U.S. Treasurys could bump up bond yields and place greater pressure on stock prices. Stock markets globally came under heavy selling earlier this month after signs of higher inflation […]
The world’s fourth largest iron ore producer wants to drive production costs even lower
After its production costs hit a record low in the last quarter, Fortescue Metals wants to drive costs even lower this financial year, according to the CEO of the Australian iron ore producer. Speaking to CNBC on “Street Signs,” Elizabeth Gaines, CEO of Fortescue Metals, talked about the strategies that […]