DUBAI, United Arab Emirates — Within 24 hours, Iran launched missile and drone strikes on targets in three countries — Iraq, Syria and Pakistan — and took the extraordinary step of announcing its responsibility for the attacks, triggering anger from its neighbors. The developments have heightened concerns over the possibility […]
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Mortgage demand surges more than 10% as lower interest rates lure homebuyers
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The […]
Biden administration unveils proposed changes to big banks’ overdraft fees
The Consumer Financial Protection Bureau headquarters in Washington. Samuel Corum/Bloomberg via Getty Images WASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation’s biggest banks structure overdraft protection plans. The independent watchdog agency said the new rule closes a loophole that for decades has […]
Tesla slashes car prices across Europe after similar cuts in China
Tesla Model Y, equipped with FSD system. Three front facing cameras under windshield near rear view mirror. Mark Leong | The Washington Post | Getty Images Tesla on late Tuesday trimmed prices for its Model Y cars across several countries in Europe, a week after announcing similar price cuts for […]
BP appoints Murray Auchincloss as permanent CEO
BP CEO Murray Auchincloss speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on October 2, 2023. Ryan Lim | Afp | Getty Images LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said […]
Markets getting ahead of themselves on rate cuts and risk being ‘self-defeating,’ ECB member says
Markets are “getting ahead of themselves” with rate cut expectations, the president of the Dutch central bank, Klaas Knot, told CNBC Wednesday. “The problem for us is that in the end that might become self-defeating. We are optimistic that we have a credible prospect of a return of inflation to […]
UK inflation rate surprises with rise to 4%, led by alcohol and tobacco
Andresr | E+ | Getty Images LONDON — U.K. inflation unexpectedly nudged upwards to 4% year-on-year in December, fueled by a rise in alcohol and tobacco prices. This was the first month in which the annual consumer price index has risen since February 2023. Economists polled by Reuters had expected […]
China’s BYD launches AI-powered smart car technology to better compete with rivals
Visitors look at an BYD Seal U electric car of Chinese car brand BYD at the IAA Mobility 2023 international motor show on September 6, 2023 in Munich, Germany. Leonhard Simon | Getty Images News | Getty Images BYD launched its AI-powered smart car system on Tuesday as the world’s […]
OpenAI CEO Sam Altman opens up about being fired by the board: ‘Super caught off guard’
Sam Altman, CEO of OpenAI, during an interview at Bloomberg House on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. Chris Ratliffe | Bloomberg | Getty Images DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out […]
Iran warns the U.S. not to ‘tie their destiny to the fate’ of Israel’s Netanyahu
Iran’s Foreign Minister Hossein Amir-Abdollahian speaks during a joint press conference with his Turkish counterpart in Tehran on September 3, 2023. Atta Kenare | AFP | Getty Images Iran’s foreign minister warned the U.S. not to “tie their destiny” to the fate of Prime Minister Benjamin Netanyahu, and said Washington’s […]