U.S. stocks had their worst day since 2022 on Wednesday amid a broad pullback in tech companies as Wall Street traders sought to reduce their exposure to firms that have made big bets on artificial intelligence. The tech-heavy Nasdaq index closed down 3.6%, while the broader S&P 500 index closed down 2.3% — both their worst performances in more than ...
At Berkshire Hathaway’s annual investor meeting earlier this year, Warren Buffett and his top insurance executive Ajit Jain issued a headline-grabbing warning that Berkshire would exercise caution regarding cyber insurance — in fact, it advised insurance agents to only sell cyber policies if they absolutely had to do so to satisfy a client, and to expect losses. A primary reason cited is ...
Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped — and thus far has been wrong every step of the way. The yield on the 10-year Treasury note has been lower than most of its shorter-dated counterparts since that time — a phenomenon known as an inverted yield curve which has preceded nearly every recession going back to ...
Renewable energy demand will triple over the next seven years as data center growth accelerates to facilitate the proliferation of artificial intelligence, NextEra Energy CEO John Ketchum said Wednesday. NextEra added 3,000 megawatts of renewable and storage projects to its order backlog in the second quarter. Of those, 860 megawatts — or 28% — come from agreements with Google to power the ...
The Federal Aviation Administration said Tuesday it was placing Southwest Airlines under a heightened safety review after a string of recent near-miss safety incidents involving the low-cost carrier. In a statement, the agency said it was increasing oversight of Southwest ‘to ensure it is complying with federal safety regulations.’ “Safety will drive the timeline,” the agency said. The development comes ...
Dozens of Delta Air Lines flights were canceled and more than 200 delayed Wednesday as the Atlanta-based carrier continued to recover from last week’s global CrowdStrike-Microsoft IT outage. But in a statement, Delta CEO Ed Bastian said the carrier had largely recovered from the outsized impact it experienced from the incident. Data from FlightAware on Wednesday morning showed 47 canceled ...
Disneyland employees have reached a tentative deal on a new contract with the company, according to a coalition of unions, averting what would have been the first strike to hit the Southern California theme park in 40 years. ‘We have shown Disney that we are the true magic makers of the park and today proves that when workers stand together ...
Consumer need for speed in package delivery, which has reached its apex with same-day shipping, has placed retailers in a tough spot when it comes to managing transportation costs. The result is increased competition among shippers for retail volume in a market dominated by FedEx and UPS, according to a new survey from global consulting firm AlixPartners. Retail executives surveyed ...
The math seemed impossible, but numbers don’t lie — it was less expensive for Julie Kelley to send her 9-year-old son to seven different summer camps in three states than to enroll him in one full-time program in Vermont, where they live. Summer vacation lasts 10 weeks for the Kelleys. And it will cost Kelley and her husband Richard about ...
People are struggling to pay off their credit card debt even as many trim their spending. The share of credit card balances that are past due reached the highest level ever in the first quarter, according to data the Philadelphia Federal Reserve has tracked since 2012. The delinquencies come as consumers have leaned heavily on borrowing to pay for everything ...