Author: News Room

New York Governor Kathy Hochul announced Wednesday she is indefinitely delaying the implementation of congestion pricing in New York City’s borough of Manhattan just weeks before the plan was set to take effect, dealing a major blow to transportation advocates who have spent decades pushing for the deal and a win for several opponents of the plan who say the toll is a regressive tax on commuters. “After careful consideration I have come to the difficult decision that implementing the planned congestion system risks too many unintended consequences for New Yorkers at this time,” Hochul said during a video briefing…

Bill Gates recently released a list of book recommendations for the upcoming summer. He only referred to one of them as a “must read.”That’s “How To Know A Person: The Art of Seeing Others Deeply and Being Deeply Seen,” written by New York Times op-ed columnist David Brooks and published in October 2023. In the book, Brooks offers research and tips for how to better communicate and connect with other people.”More than a guide to better conversations, it’s a blueprint for a more connected and humane way of living,” Gates wrote on his blog last month. “It’s a must-read for…

Nvidia surpassed $3 trillion in market cap during intraday trading on Wednesday as investors continue to clamor for the company making most of the chips powering the AI boom.Nvidia shares were up more than 4% to $1,219 at one point during intraday trading on Wednesday. Nvidia also passed Apple in terms of market cap on Wednesday. Nvidia’s milestone is the latest stunning mark in a run where the stock price has gone parabolic as investors bet on artificial intelligence. Shares are up over 3,224% over the last five years. It will split its stock 10-1 later this month.Apple was the…

Consumer satisfaction is taking a dip in the wake of high interest rates, driven up by inflation and the remnants of the pandemic. Nearly 73% of consumers with loans are now categorized as financially unhealthy, J.D. Power’s Consumer Lending Satisfaction study found. Last year, 67% of consumers were categorized the same way, indicating that times are getting tougher for many borrowers. This is forcing lenders to up their offerings to attract and keep customers.Higher levels of financial health often correlate with customer satisfaction. On the other end of the scale, consumers struggling financially report less satisfaction with their loans, the…

eBay customers will no longer be able to use American Express credit cards to pay for purchases on the online marketplace come mid-August. The e-commerce company said in a statement to FOX Business that “unacceptably high fees American Express charges for processing credit card transactions” have prompted it to cease accepting American Express as of Aug. 17.The move, earlier reported by Bloomberg and The Associated Press, will apply for eBay transactions in all markets around the world where the online marketplace operates.  “At a time when payment processing costs should be declining because of technological advancements, investments in fraud capabilities and…

Mortgage rates declined for a second consecutive week but remain above 7% as a home affordability crisis maintains its grip on the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 7.02% this week from 7.09% last week. The average rate on a 30-year loan was 6.39% a year ago.  The average rate on the 15-year fixed mortgage also fell to 6.28% from 6.38% last week. One year ago, the rate on the 15-year fixed note averaged 5.75%. Read the full article here

We are living through what is being called the silver tsunami. According to Legal Jobs, “about 10,000 baby boomers turn 65 each day, and the entire generation is expected to reach retirement age by 2030.” While many people spend their working years aiming to eventually retire, there are reasons why complete retirement should not be a primary goal. Even synonyms for the word retire sound negative—withdraw, relinquish, depart, expire. For my book, Leading with Wisdom: Sage Advice from 100 Experts, I interviewed more than 100 top authorities about leadership and life. A recurring theme during these conversations was the idea…

Top Biden administration officials are traveling to the Middle East this week to engage in ongoing talks on a possible ceasefire and hostage release deal between Israel and Hamas, as well as the dire situation in the Gazan city of Rafah, US officials told CNN. CIA Director Bill Burns, who has served as the administration’s primary interlocutor in ceasefire negotiations, is expected to travel to Doha, according to one US official. Qatar is acting as an intermediary in talks between Israel and Hamas. Middle East Coordinator Brett McGurk is also headed back to the region this week, a separate official said. Although…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shari Redstone left investors guessing about the potential sale of Paramount during its annual meeting and instead stated her “confidence” in the executives who are pitching to keep the Hollywood company she controls independent.Redstone last year kick-started talks with billionaire David Ellison’s Skydance Media about a merger with Paramount. The talks have been prolonged and chaotic, triggering the exit of Paramount’s chief executive and several board members. But Skydance last week finally agreed a deal with a “special committee” of Paramount board…

It has been nearly two years since I last covered Core Scientific (NASDAQ:CORZ) for Seeking Alpha. In the time since that “sell” call, CORZ shareholders have been on quite the journey to say the least. Data by YChartsShortly following my late-October 2022 CORZ article, the crypto market experienced the collapse of FTX which further depressed prices of crypto coins and proxies like Bitcoin (BTC-USD) mining stocks. For Core Scientific specifically, the company filed for Chapter 11 bankruptcy and re-emerged with a reorganization plan highlighting reduced debt and 60% equity retention for shareholders of the delisted stock. It admittedly could have…