News from the economy, politics and the financial markets
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Debt, AI boom and economic fragilities raise global risks, BIS says
The central bank umbrella group's Annual Economic Report warned of a complex mix of vulnerabilities.
A 'perfect storm' points to a much smaller U.S. auto market by 2040
The auto industry is selling fewer cars--one forecaster says this is a fundamental change, and it is going to get worse.
Google limits Meta’s use of its Gemini AI models, FT reports
Meta had sought more computing capacity than Google could provide, the Financial Times reports.
From protein coffee to CBD soda: How brands are cashing in on the functional beverage boom
"We're selling [almost] as much protein cold foam as we do flat whites," Starbuck's EMEA Manager of Beverage Development Sam Henderson told CNBC.
Trump says he is nominating former Oklahoma state trooper Lance Schroyer as ICE director
The nomination comes after former ICE director Todd Lyons resigned at the end of May. David Venturella has been serving as the acting head of the agency.
SpaceX to join the Nasdaq-100 in a fast-tracked process that will drive huge ETF buying demand
Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq's recently adopted fast-track inclusion framework.
Amazon Prime Day offers a glimpse into the U.S. consumer as shoppers navigate with pinched wallets
Retail experts attribute the 9.3% year-over-year increase in spending to high inflation and shoppers purchasing more discretionary, long-lasting products.
Death toll in Venezuela earthquakes tops 1,400
Venezuela's interim President Delcy Rodriguez said on state television that 10 more countries were still to join rescue efforts.
Tanker struck in Strait of Hormuz as U.S.-Iran tensions escalate
The attacks come as the United States and Iran are supposed to be engaging in a 60-day ceasefire as they attempt to work toward a resolution.
Why investors may want to prioritize bond markets outside the U.S.
Allspring Global Investments is pushing clients toward countries with central banks that are raising interest rates or have different inflation dynamics.
‘Heated Rivalry’ fuels a boom in gay romance stories, with women leading the fandom
‘Heated Rivalry’ has helped gay romance stories gain mainstream attention, with women driving much of the fandom.
American couple left New York City and bought a house in Italy for $13,000: 'We found a different way of life'
Cassandra Tresl and Alex Ninman moved in with Tresl's grandfather in the Czech Republic in 2020 and closed on a house in Abruzzo, Italy, in 2022.
Before there were Trump Accounts, SEED OK gave some newborns $1,000 — how researchers say the grants affected kids
Some state-sponsored programs paved the way for Trump Accounts, the new tax-deferred investing accounts for children.
SpaceX stock has cooled. Hiring for jobs in the space economy hasn't
The SpaceX IPO euphoria is over, but the bullish trend in space economy jobs remains in place within a labor market where many other sectors have slowed hiring.
Australia toughens kids' social media ban, doubles potential penalties for tech firms
eSafety is actively investigating possible non-compliance by five platforms: Meta's Instagram and Facebook, Google's YouTube, Snap's Snapchat, and TikTok.
Pinterest has taken a beating in recent years. This analyst thinks it's time to buy
Pinterest has been fallen 24% this year, but analysts are split whether to buy or sell this stock
These stocks are the most oversold after a turbulent week for the market
Intercontinental Exchange and CME were among the most oversold stocks this week amid ongoing concerns over a regulatory spat concerning perpetual futures.
Bank of America says these five stocks are best positioned for upside amid market uncertainty
Analysts at Bank of America said these stocks have plenty of room to run.
Trading in these two ETFs suggests inflation fears are overblown
It could have been a big week for bond bears, if it weren't for crude oil.
Berkshire CEO Greg Abel sworn in as U.S. citizen at baseball game
Abel, a longtime Iowa resident who was born in the Canadian city of Edmonton in 1962, was among the roughly two dozen people from 16 countries who participated in an annual naturalization ceremony hosted by the Iowa Cubs Thursday night in Des Moines.
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