US inflation has steadily cooled since mid-2022, thanks to large interest-rate increases by the Federal Reserve. However, a four-month drop in the dollar is threatening to derail that trend by raising the cost of imported goods. The dollar index has fallen by more than 11% from a peak reached in late September. US consumers are … Read more
Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. Elon Musk’s politics and disappointing self-driving tech pushed Orita to drop the Tesla brand, she told Insider. She loves how luxurious and comfortable her new Mercedes EQS is compared to her Model S. This as-told-to essay … Read more
Twitter staff can tweet from any account, according to an FTC complaint seen by The Washington Post. The ex-Twitter engineer behind the complaint said it was called “GodMode,” and the company didn’t close it after a hack. In 2020, hackers tweeted a Bitcoin scam from several high-profile accounts after accessing internal systems. Twitter staff can … Read more
Joint currencies tend to boost trade by getting rid of conversion costs and exchange rate uncertainty. Brazil and Argentina could later expand the initiative to neighboring countries, creating a euro-type currency for South America. Brazil and Argentina are preparing to launch a joint currency that could eventually become a euro-like project adopted by all of … Read more
Bombay High Court has quashed the write off of Rs 8,500 crore additional Tier-1 (AT1) bonds issued by Yes Bank (YBL); write off was part of a restructuring plan to rescue the Bank in March 2020. “It appears that administrator exceeded his powers and authority in writing off AT-1 bonds after the bank was reconstructed … Read more
Tesla is trying to use its overbuilding problem to maintain market share. Price slashes and piled up inventory at Tesla pose a big problem for rival startups. But the price cuts in the US alone could cost Tesla as much as $7 billion in annual profit. Tesla has the opposite problem of its competitors right … Read more
Warren Buffett’s “most gruesome” mistake was buying Dexter Shoe, a Maine shoemaker, in 1993. He paid with Berkshire Hathaway stock worth $433 million at the time, but $12 billion today. “I gave away 1.6% of a wonderful business … to buy a worthless business,” Buffett later admitted. Warren Buffett’s gravest mistake was buying Dexter Shoe … Read more
Goldman Sachs is relatively optimistic in 2023, saying there’s only a 1/3 chance of a US recession. That’s high enough that the firm is telling investors to be prepared for ‘hard’ or ‘soft’ landings. US Stock Chief David Kostin and his team put together portfolios designed for either scenario. Goldman Sachs seems like a beacon … Read more