The nation's economic engine revved up this summer after a dismal first half of the year, growing at its fastest pace since 2014, the Commerce Department said Friday. The latest read on the economy -- the first of three estimates of third-quarter growth -- could help persuade Federal Reserve policymakers to increase a key interest rate later this year.
Everyone is talking about Volvo's self-driving-car project with Uber. One of the reasons we have the cooperation with Uber is that we share the same interest. [Uber CEO Travis Kalanick] believes it's the only way to fulfill their business model, but it fits very well, because we use similar technologies.
A Brazilian prosecutor investigating potentially corrupt investments made by state pension funds said the real estate company run by Republican presidential candidate Donald Trump appears to have benefited "suspiciously" from a massive redevelopment of Rio de Janeiro's port ahead of the Olympics. Not long after plans for the towers were first announced, Donald Trump tweeted in January 2013: "The Trump Organization is going revolutionize Rio de Janeiro's downtown port area with Trump Towers. Construction begins soon!"
Paula Schwartz of West Los Angeles says Obamacare has helped her afford medical coverage while she cares for her aging mother. But as Californians receive their premium rates for next year, some -- including those who make too much to qualify for those government subsidies -- are learning their hikes will be far higher than the average statewide increase of 13.2% announced by the state insurance exchange in July.
Nissan has been building a version of the GT-R since the late 1960s, when it first offered a Japan-only Nissan Skyline GT-R. Everything about the GT-R screams "track day," from the bright red start button (which looks like something you'd use to initiate ignition on a rocket ship) to the race seats (which are actually comfortable for long-distance driving) to the engine sound (which seems more suited to a jet fighter than a street-legal automobile).
That's just the beginning of the changes we can foresee in the next five to 10 years as technological innovation and social expectation change the world dramatically; even more than the gig economy has changed things thus far. The fintech market will (and has) changed to reflect the economy as robo-advisors and automated investing brings services previously limited only to the wealthy to the masses, allowing more control over personal finances than ever before.
On the day in July that a group of investors led by WME-IMG purchased the UFC, a reporter asked Dana White if fight fans should be concerned about the company's future under its new corporate overlords. Considering the eye-popping $4 billion WME-IMG paid to acquire the world's largest MMA organization--and the reportedly risky loan it took on to make it happen, per the Wall Street Journal--the new owners couldn't afford to waste time in streamlining and reshaping the UFC's future.
The world's largest economy grew at an annual rate of 2.9% in the three months to September, the Commerce Department said. The annualised rate of 2.9% is equivalent to a quarter-on-quarter rate of 0.7%, which is the way that many other countries express their growth rates. In the second quarter of the year, the US economy expanded by an annualised rate of 1.4%, or a quarterly rate of 0.4%.
U.S. economic growth picked up in the third quarter after an uninspiring first half of the year as a build in inventories and a soybean-related jump in exports helped cushion softer household spending. The 2.9 percent annualized increase in gross domestic product, the value of all goods and services produced, was the biggest in two years and followed a 1.4 percent gain the prior quarter, Commerce Department data showed Friday.
Exxon Mobil Corp. extended its longest streak of profit declines in almost three decades and said the prolonged slump in energy markets may force it to write off almost 5 billion barrels of reserves. About 3.6 billion barrels of reserves in the Canadian oil sands and the equivalent of another 1 billion oil-equivalent barrels in other North American fields may be written down if the average energy prices seen during the first nine months of 2016 persist, Exxon said in the statement.
Technology giant Apple has quietly pushed up the price of existing products in the United Kingdom as the company tries to battle a weaker pound. Since the Brexit vote on June 23, sterling has slipped almost 20 percent in value against the dollar, costing Apple on any products sold in Britain.