An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. The personal consumption expenditures price index increased 0.1% on the month and was up 2.5% from a year ago, in line with Dow Jones estimates, the Commerce Department reported Friday. ...
With interest rate cuts from the Federal Reserve on the horizon, it could be a good time to shift cash, experts say. Traders expect a rate cut in September, according to the CME FedWatch Tool, which could lower the target range for the federal funds rate by a quarter percentage point or more. Meanwhile, many investors are sitting on hefty cash allocations, including trillions in money ...
OpenAI on Thursday announced a prototype of its own search engine, called SearchGPT, which aims to give users “fast and timely answers with clear and relevant sources.” The company said it eventually plans to integrate the tool, which is currently being alpha-tested with a small group of users, into its viral chatbot, ChatGPT. Since the launch of ChatGPT in November 2022, Alphabet ...
Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold while the company and agency study problems that arose early in the flight. Starliner capsule “Calypso,” which carried NASA astronauts Butch Wilmore and Suni Williams to the ISS, has now been in space 50 days and ...
Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes as mounting pressure on the carrier to increase revenue prompts the biggest changes to its business model in its 53 years of flying. The airline plans to start selling the first flights that will offer extra legroom next year, it said Thursday. It also plans to ...
This is part of NBC News’ Checkbook Chronicles, a series of profiles highlighting the financial realities of everyday Americans. On a hot Georgia afternoon this spring, Nancy Breland was in her yard clearing branches and debris, trying to ward off any potential damage to her home from a large storm heading toward her coastal town. At 72, Breland has been ...
The NBA announced a new media deal late Wednesday that would end its long-standing relationship with TNT, while adding and restarting partnerships with Amazon and NBC — expanding the reach of professional hoops but potentially posing new access issues to fans. Starting in the 2025-2026 season, existing partner ABC and its sister network ESPN will now share broadcast rights with ...
The National Basketball Association has rebuffed longtime media partner Warner Bros. Discovery’s bid to keep airing games after next season. The NBA told the media company it doesn’t believe it holds legal matching rights for the league’s new media deal. It instead plans to move ahead with Amazon as its third partner, along with ESPN and NBCUniversal, in its 11-year deal worth about ...
Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for ...
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations as it saw higher traffic at its restaurants, bucking an industry slowdown. Shares of the company rose after the closing bell. As of Wednesday’s close, Chipotle’s stock had slid 17% this month, hurt by investor concerns about the health of the restaurant industry. In late June, the ...