Economy Archives - Page 11 of 58

Congress Tackles ChatGPT amid AI Revolution

This week, senators and representatives have held separate hearings regarding the perils and promises of artificial intelligence (AI). The move signals lawmakers’ growing regulatory appetite in the wake of actions on the technology from the Biden administration. "AI is no longer a matter of science fiction nor is it a…

Senior Intelligence Official Warns of TikTok’s Influence on American Children

U.S. National Security Agency Director Paul Nakasone has warned that the Chinese Communist Party-linked social media app TikTok is influencing American children. During testimony delivered before the Senate Armed Services Committee on March 7, Nakasone said he is concerned about what data TikTok may be collecting on U.S. users. Nakasone…

Railroad Offers Temporary Help to East Palestine Residents Impacted by Toxic Train Derailment

Norfolk Southern Railway, the railroad company that owns the train that derailed in Ohio last month, has offered temporary help to the residents of East Palestine who are impacted by the toxic disaster. As cleanup continues more than a month after one of its freight trains derailed in the small…

Fed’s Logan Warns Financial System Vulnerable to Bond Stress, Bostic Open to Rate Hikes

America's financial system is vulnerable to stress in the government bond market, Federal Reserve Bank of Dallas President Lorie Logan has warned. Logan delivered a speech at an event hosted by the University of Chicago Booth School of Business. She explained that the bond market is susceptible to substantial shocks.…

Falling Labor Participation Rate ‘Really Troubling’ for Economy, Experts Warn

America’s low labor participation rate has become a problem for the U.S. economy, experts are warning. A large number of American workers have failed to return to work since the Covid pandemic. Economists are saying that an unprecedented drop in labor participation across the country has become widely noticeable. Health…

Amazon Pauses Construction of New Virginia HQ amid Revenue Losses

Online retail giant Amazon has paused the construction of its new headquarters in Virginia as revenue losses weigh heavily on the company. The facility in Arlington, Virginia would be Amazon's second headquarters. But a poor 2022 financial performance, that saw the company register over $2 billion in losses, has scuppered…

Federal Agency Advances Gas Stove Ban Proposal Floated by Commissioner

A U.S. federal agency has advanced its proposal on banning gas stoves from American homes after it was first floated by one of its commissioners in January. The U.S. Consumer Product Safety Commission (CPSC) has issued a request for information on gas stove hazards. On March 1, the CPSC announced…

Discover Credit Cards to Begin Tracking Gun Purchases from April

Credit card provider Discover Financial Services will begin tracking gun purchases made by its customers from April onward. The company will allow its network to track purchases made using payment cards at gun stores. The move has triggered criticism that such activity leads to targeting gun owners. In September, the…

Australia’s National Security Chiefs Considering TikTok Ban

Australia’s national security chiefs are considering a ban on China's TikTok app from all government devices. Security officials have been asked to determine whether Australia should ban the social media app from all government agencies over its links to the Chinese Communist Party (CCP). The move comes after the Biden…

60% of U.S Adults Live Paycheck to Paycheck, Report Shows

Americans are still struggling to save money at the end of each month amid the increased cost of living, according to a new report. The report by LendingClub and Paymnts is based on a survey of 4,163 U.S. consumers conducted from January 6 to 27. Researchers also included analysis of…