Opinion: The Fed’s rate hikes could soon be coming to an end

Editor’s Note: Steven Kamin is a senior fellow at the American Enterprise Institute (AEI), where he studies international macroeconomic and financial issues. He served as director of the international finance division of the Federal Reserve from 2011 to 2020. The opinions expressed in this commentary are his own. View more opinion on CNN. CNN — … Read more

Apple and Google app stores get thumbs down from the White House

WASHINGTON (AP) — The Biden administration is taking aim at Apple and Google for operating mobile app stores that it says stifle competition. The finding is contained in a Commerce Department report released by the administration on Wednesday as President Joe Biden convened his competition council for an update on efforts to promote competition and … Read more

Job openings unexpectedly jump to 11 million in December

Minneapolis CNN — Despite the looming threat of recession and the cacophony of mass layoff announcements, US businesses still need workers — 11.01 million of them. The number of available jobs unexpectedly rose in December, climbing from a revised 10.44 million openings in November and exceeding economists’ expectations of 10.25 million, according to Bureau of … Read more

Europe grew faster than the US last year. Its markets are outperforming too

London CNN — Europe’s stock markets have beat Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street … Read more

Peloton (PTON) Q2 earnings 2023

Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey. Michael Loccisano | Getty Images Platoon said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscription revenue was higher than sales of the company’s connected fitness products. CEO Barry McCarthy … Read more

Hong Kong is criminalizing CBD as a ‘dangerous drug’ alongside heroin

Hong Kong CNN — Two years ago, cannabidiol was booming in Hong Kong. The compound, known as CBD, was popping up in cafes, restaurants and stores, with businesses eager to join an exciting new market already well-established in countries around the world. That all came to an end on Wednesday, when CBD was criminalized in … Read more

US blocks export license renewals for China’s Huawei

BEIJING (AP) — China’s government accused Washington on Tuesday of pursuing “technology hegemony,” as the United States has begun stepping up pressure on tech giant Huawei by blocking access to American suppliers. The Biden administration has stopped approving the renewal of licenses to some US companies that have been selling essential components to the Chinese … Read more

Cheaters beware: ChatGPT maker releases AI detection tool

SAN FRANCISCO (AP) — The maker of ChatGPT is trying to curb its reputation as a freewheeling cheating machine with a new tool that can help teachers detect if a student or artificial intelligence wrote that homework. The new AI Text Classifier launched Tuesday by OpenAI follows a weeks-long discussion at schools and colleges over … Read more

Financial Secrecy Is Undermining Democratic Capitalism

Text size The US has taken action against financial secrecy before. It’s time to do it again, writes Raymond W. Baker. Dreamstime About the author: Raymond W. Baker is the founding president of Global Financial Integrity, a think tank in Washington, DC Drug traffickers, counterfeiters, corrupt government officials, and tax evaders all have one thing … Read more

General Motors expects to boost EV production in the second half

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – When General Motors launched the GMC Hummer EV … Read more