Yahoo News

At the New York Auto Show this week, car fans, journalists, and industry watchers were treated to a feast for the eyes, with all the new car designs and plush interiors on display. Under the skin of these cars, however, is a different beast — and it’s not the engine. It’s all the data these cars generate. McKinsey estimates a car produces around 25 gigabytes of data per hour, which is an astounding amount. And this data is worth big money. “The car has really turned into a modern… Source link

San Francisco Fed President Mary Daly told Yahoo Finance Live in an exclusive interview on Thursday that she sees the case for interest rates to move ‘expeditiously’ higher in order to pump the brakes further on surging inflation. And with the Fed growing increasingly hawkish in its endeavor to lower prices, uncertainty remains as to when month-over-month inflation will turn around. Deutsche Bank (DB) Wealth Management CIO for the Americas Deepak Puri believes that prices are currently at… Source link

With 4/20 in the rearview mirror for the cannabis industry, some companies are still looking for reasons to celebrate as the fight to legalize marijuana continues. The Biden administration has been mostly silent on the topic of federal marijuana legalization, offering neither support nor opposition to the bill which passed the House of Representatives earlier this month. The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, if signed into law, would remove marijuana from the list… Source link

San Francisco Fed President Mary Daly said Thursday that she sees the case for quickly moving to raise interest rates this year as inflation remains high. “I like to think of it as expeditiously marching towards neutral. It’s clear the economy doesn’t need the accommodation we’re providing,” Daly told Yahoo Finance in an exclusive interview Thursday. The Fed hopes that raising borrowing costs will dampen the consumption and spending that has pushed prices higher. The central banker told Yahoo… Source link

What’s a problem advertisers and Angelenos have in common? Bad traffic. Yahoo, one of the largest publishers in the US, has been a recipient of such traffic. Researchers suggest that traffic from what the industry often considers invalid was flowing to Yahoo-owned sites. In some instances, people visiting adult and piracy sites were redirected, via something called pop-unders, to Yahoo-owned properties like TechCrunch and Yahoo’s entertainment, sports, and finance sites. Though it… Source link

Inflation has touched nearly every area of the economy, including the hospitality sector. According to celebrity chef Wolfgang Puck, restaurant suppliers have raised prices “tremendously,” forcing him to rethink how to avoid passing on the cost to his customers. “We just have to engineer the menu a little different so not everything is expensive,” the restaurateur said on Influencers with Andy Serwer. Puck has noticed inflation particularly in food items like beef, fish, and vegetables. The… Source link

With several threats to the future of its business, Facebook wants to start “a new chapter.”  Investors are unsure it will succeed in its grand metaverse ambitions and employees are confused. “Simply put, the market is questioning whether this company is now Yahoo! 3.0,” an analyst said. Facebook is at a perilous time in its history as Mark Zuckerberg bets his company on… Source link

Move over Tesla Model S (TSLA) and Mercedes-Benz EQS (MGB.DE), a new top of the line electric sedan is here. BMW (BMW.DE) took the wraps off its all-new top-of-the-line 7 Series, with three new models, including an electric version for the first time. Dubbed the i7 xDrive60, the all-wheel drive EV version features two electric motors with a combined output of 536 horsepower and 549 lb-ft of torque. The car can hit 0-60 mph in 4.5 seconds, BWM says, and will have an estimated range of 300… Source link

Millions of dollars in student loan debt could have been cancelled already had the student loan machinery worked properly, according to a government watchdog. A new report by the Government Accountability Office (GAO) looked into income-driven repayment (IDR) plans and found that as of June 1, 2021, around 7,700 student loans were due to be forgiven under existing rules — but the Education Department (ED) had only approved 157 loans to actually be discharged. “Until Education takes steps to… Source link

U.S. stocks advanced Thursday as investors continued to monitor a steady stream of corporate earnings results against a backdrop of elevated inflation and further Fed policy tightening. The S&P 500 rose by about 0.9% just after the opening bell. The Dow Jones Industrial Average also gained. The Nasdaq outperformed, rising by more than 1% to reverse some of Wednesday’s losses, when the tech-heavy index was weighed down by a slide in shares of Netflix. Meanwhile, Tesla (TLSA) shares jumped more… Source link