Economy Archives - Page 8 of 59

One of America’s Largest Banks Is on Verge of Collapsing

First Republic Bank has seen its share prices plunge to new lows this week, taking the institution to the verge of collapsing. America's economy is still reeling from the sudden collapse of Silicon Valley Bank (SVB) and Signature Bank last month. However, it does appear that the financial system has…

US Regulators Warn AI Firms to Comply with Laws, Say They Already Have Power to Crack Down on Misuse

U.S. federal government regulators have issued a warning to artificial intelligence (AI) companies about potential misuse of the rapidly advancing technology. On Tuesday, several federal government agencies warned that they already have the power to prevent unlawful “bias in algorithms and technologies” marketed as AI. Four federal agencies joined forces…

BRICS De-Dollarization Push Gathers Momentum

The push for de-dollarization led by the BRICS group is continuing to gather momentum as Indonesia moves to shift away from the U.S. dollar for trade and financial transactions. The Indonesian central bank announced that it has updated its policy to shift away from the U.S. dollar and is following…

Goldman Sachs: AI Could Automate Two-Thirds of All American Occupations

Goldman Sachs economists have warned that two-thirds of all occupations across America could be partially automated by artificial intelligence (AI). Top economists Joseph Briggs and Devesh Kodnani issued the warning in a report published on April 5. According to the report, a new wave of AI systems, such as ChatGPT,…

Americans Paid $5 Trillion in Taxes to IRS Last Year Alone

The Internal Revenue Service (IRS) raked in a record-breaking $5 trillion in taxes last year. The amount of taxes collected from Americans has soared under President Joe Biden, an analysis of IRS data shows. Tax enforcement has also risen under Biden compared to President Donald Trump’s tenure. According to the…

Trump’s Business Empire Is Expanding, Financial Report Shows

President Donald Trump's vast business empire has been expanding since his return to private life, his recently filed personal financial disclosure report shows. Trump's business is now valued at around $1.2 billion, according to the 101-page report (pdf) filed with the Federal Election Commission (FEC). The news comes as Trump…

Warren Buffett Dumps Billions in Taiwanese Stock as Fears of Chinese Invasion Mount

Renowned American investor Warren Buffett has just dumped billions of dollars worth of stock for a Taiwanese chipmaker as fears mount that Communist China is preparing to invade the island nation. The move comes as experts are increasingly warning that a Chinese invasion of Taiwan is now imminent. Buffett purchased…

IRS Warns Time Running Out to Claim $1.5 Billion in Unclaimed Refunds for 2019 Tax Year

The Internal Revenue Service (IRS) has warned American taxpayers that time is running out to claim tax refunds for 2019. On Wednesday, the IRS announced that over a million Americans have unclaimed tax refunds for the 2019 tax year. The deadline to make the claims is now looming as a…

Top Economist Issues Warning about Banking Crisis: ‘The Worst Is Ahead of Us’

A top U.S. economist has issued a warning to the American people regarding the banking crisis. Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil. According to Roubini, the crisis could lead to a serious credit…

Baby Boomers Replace Millennials as Top Home-Buying Generation in America

Baby boomers have just taken the top spot when it comes to buying homes in America. Boomers, aged 58–76, have now surpassed millennials, ranging from ages 24–42, as the top home-buying generation, a just-released study by the National Association of Realtors (NAR) indicates. The NAR indicates in its 2023 Home…