Author: Editor-In-Chief
Kevin Warsh made his case for the position of Federal Reserve Chairman during a Senate Banking Committee hearing on Tuesday. Experts say a change in Fed leadership could have a far-reaching impact on consumer borrowing costs.The Fed chair candidate, nominated by President Donald Trump to replace current Chairman Jerome Powell, told senators about his approach to setting interest rates as the preferred tool for combating inflation.”The Fed has interest rate tools and balance sheet tools,” Warsh said at Tuesday’s hearing, among the various tools the central bank has at its disposal to promote maximum employment and stabilize prices. “In my…
Microsoft CEO Satya Nadella speaks at the Microsoft AI Tour event in Munich, Germany on February 25, 2026.Sven Hoppe | Picture Alliance | Getty ImagesBefore SpaceX announced this week that it had won the rights to acquire Cursor for $60 billion. microsoft The company was considering a potential deal with an AI coding startup, two people familiar with the matter said. Microsoft, which is trying to boost the popularity of its artificial intelligence tools to keep up with the rapidly growing market for AI tools, chose not to move forward with the bid, one of the people said. Both sources…
The timeline for war remains unclear as diplomacy stalls as the US military continues its naval blockade of Iranian ports, intercepting and redirecting ships. Peace talks between the United States and Iran were called off in Pakistan this week, but all eyes are now on Israel and Lebanon as they prepare for a second round of talks in Washington later today. Here’s what you need to know on Thursday. Diplomacy stalemate: The deadline for Iran to submit a peace plan to the United States remains undetermined, with US President Donald Trump vowing on Wednesday that there is “no end date”…
Gary Neville believes Chelsea’s hierarchy “have no idea what they’re doing” after sacking Liam Rosenior on Wednesday, making him the fifth manager in less than four years since taking over the club.Rosenior was appointed as a surprise replacement for Enzo Maresca in January, but his reign was cut short at just four months with seven defeats in his last eight games. Rosenior had signed a six-year contract with Chelsea when he moved from Strasbourg, which is part of Chelsea’s parent company Blueco. However, there were calls for his sacking from Chelsea fans during and after Tuesday night’s game against Brighton.…
Tesla CEO Elon Musk began the company’s first-quarter earnings conference with a financial caution, or a warning, depending on how investors feel. Tesla’s capital spending will soar to $25 billion in 2026, according to its first-quarter earnings report, far exceeding its previous annual spending as it seeks to become an AI and robotics company ahead of its competitors. This figure covers Tesla’s planned spending on physical assets in addition to its day-to-day operating expenses, and is three times the amount of the company’s annual capital spending budget from the previous year. For comparison, Tesla’s annual capital expenditures were $8.5 billion…
A Department of Education sign outside the Federal Student Aid Office on May 18, 2025 in Washington, DC. Kevin Carter | Getty ImagesThe National Association of Student Financial Aid Administrators says the U.S. Department of Education has provided conflicting information regarding federal student loan borrowing limits scheduled to go into effect this summer. A provision of President Donald Trump’s “Big and Beautiful Act,” passed last year, set a new lifetime borrowing limit for federal student loan borrowers at $257,500 starting July 1, 2026. But the Department of Education has issued contradictory statements about whether certain loans taken out by graduate…
Bessent denied allegations that the Trump family’s economic ties to the UAE were behind the decision to offer the swap line.U.S. Treasury Secretary Scott Bessent said several allies in the Gulf and Asia are requesting currency swap lines from the United States to help deal with energy shocks and other fallout from the U.S.-Israel war against Iran.Bessent told U.S. senators on Wednesday that both the United States and the United Arab Emirates would benefit from a swap line proposal (an act in which central banks swap currencies to provide liquidity to stabilize markets during times of economic uncertainty) that U.S.…
Manchester City have surpassed Arsenal to take the lead in the Premier League, but Gary Neville says their performance in the 1-0 win over Burnley showed the title race is far from over. City were expected to dominate Burnley after beating Arsenal in a thrilling title showdown at the Etihad on Sunday. The match got off to a good start, with Erling Haaland scoring a superb opener after just five minutes, but the second goal failed to come, creating some tense scenes for relegated Burnley before Pep Guardiola looked relieved at the full-time whistle. Use Chrome Browser for a more…
Check out the companies that made the biggest moves at midday: Calix — Shares of the AI and cloud platform fell 16% after the company warned of margin headwinds this year, overshadowing its better-than-expected first-quarter results. TE Connectivity — Shares of the electrical components maker fell 12% after the company’s third-quarter outlook disappointed investors. TE expects adjusted earnings per share of $2.83 and revenue of $5 billion. Both numbers are roughly in line with the FactSet consensus numbers. Sonoco Products — Shares of the steel and aerosol can maker fell more than 15% after the company said it was targeting…
IBM CEO Arvind Krishna attends a Diwali celebration in the Oval Office of the White House on October 21, 2025 in Washington.Alison Robert | Alison Robert Bloomberg | Getty ImagesIBM Shares fell 6% in after-hours trading Wednesday after the hardware, software and consulting company reported better-than-expected first-quarter results but maintained its full-year outlook.Here’s how the company performed compared to the LSEG consensus:Earnings per share: $1.91 adjusted vs. $1.81 expected Revenue: $15.92 billion vs. $15.62 billion expectedIBM’s revenue for the quarter increased 9% from a year earlier, the statement said. Net income was $1.22 billion ($1.28 per share), up from $1.06…