Fusion took a key step forward in its movement from the lab to commercial viability with the successful test of a key technology — a very powerful magnet that uses very little energy. Commonwealth Fusion Systems (CFS) and Massachusetts Institute of Technology’s Plasma Science and Fusion Center (PSFC) said on Wednesday that they completed the […]
U.S. businesses are experiencing escalating inflation that is being aggravated by a shortage of goods and likely will be passed onto consumers in many areas, the Federal Reserve reported Wednesday. In its periodic “Beige Book” look at the nation’s economic picture, the central bank also reported that growth overall had “downshifted slightly to a moderate […]
Now might be a good time for the Federal Reserve to start worrying about inflation. August’s jobs report, besides being a big disappointment on the 235,000 headline number, also showed that wages are rising even with weak hiring. Average hourly earnings jumped 0.6% for the month, about double what Wall Street had been expecting, and […]
At just 17 years old, Sukone Hong has realized his entrepreneurial dream by building not one but two businesses. The first, a South Korean fashion brand of which he is CEO, has made over $1 million in sales this year and won the recognition of Harvard University. The second, a braille smartwatch for the visually […]
Former Walmart executive and e-commerce billionaire Marc Lore wants to build the world’s first woke city from scratch — somewhere in the US. Lore last week unveiled plans for his utopia, called Telosa, from the ancient Greek word Telos, meaning “highest purpose.” “The mission of Telosa is to create a more equitable, sustainable future. That’s […]
Hedge fund tycoon George Soros condemned BlackRock’s recent billion-dollar investment in China in a Monday op-ed published by The Wall Street Journal. Soros called BlackRock’s recent decision to introduce mutual funds in the country last month a “tragic mistake” that he said is “likely to lose money for BlackRock’s clients and … damage the national […]
DUBLIN – Boeing faces a standoff with one of its biggest customers after Ireland’s Ryanair said it had ended talks over a purchase of 737 MAX 10 jets worth tens of billions of dollars due to differences over price. The rare decision to go public over big-ticket airplane negotiations comes after months of wrangling that […]
The national average price for a gallon of gasoline has hovered around $3.18 for the last four days, according to AAA. This marks the most expensive Labor Day weekend for gas prices since 2014, although some areas will hit consumers’ wallets harder than others. California is home to the most expensive gas at about $4.39 […]
The oil-dependent South American country Ecuador, which left OPEC in January 2020 to avoid production quotas, has embarked on an ambitious plan to double its oil output. The tiny Andean nation with a population of nearly 18 million has struggled for years to grow its hydrocarbon sector as a means of bolstering a fragile economy […]
The U.K. is undergoing a structural overhaul in its labor market due to Covid-19 and Brexit, and policymakers should “let the labor market do its job,” according to Minouche Shafik, director of the London School of Economics. British businesses have been blighted by a combination of worker shortages and supply chain disruptions that have sent […]
SINGAPORE — Asia-Pacific stocks were mixed in Monday trade following U.S. jobs data released Friday that came in far short of expectations. Japan’s Nikkei 225 was among the biggest gainers regionally, rising 1.75% in afternoon trade. That followed its surge of 2.05% on Friday after Japanese Prime Minister Yoshihide Suga said he will not be […]
SINGAPORE – Oil prices extended losses on Monday after the world’s top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling that global markets are well supplied. Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT while U.S. West Texas Intermediate crude for October […]
