Month: August 2025
Housing to remain weakest part of economy, falling 8% in the second half, Goldman says
The housing market will hamper economic growth in the second half of the year, according to Goldman Sachs. Residential investment should fall 8% in the back-half of the year compared with the same period a year ago, Jan Hatzius, Goldman’s chief economist, told clients in a Sunday note. Declines in affordability and immigration are among […]
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Legal AI startup Harvey hits $100 million in annual recurring revenue
Harvey co-founders Winston Weinberg and Gabe Pereyra Courtesy of Harvey Artificial intelligence startup Harvey on Monday announced it has reached $100 million in annual recurring revenue, or ARR, just three years after its launch. Harvey runs an AI-powered legal platform for lawyers at law firms and large corporations. Its technology can help with legal research, […]
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Baidu plans to expand its robotaxis to Europe with Lyft deal
Baidu will bring its driverless taxis to Europe next year via a partnership with U.S. ridehailing firm Lyft, as the Chinese tech giant looks to expand its autonomous vehicles globally. The robotaxis will initially be deployed in the U.K. and Germany from 2026 with the aim to have “thousands” of vehicles across Europe in the […]
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More than 3,000 Boeing defense workers go on strike after rejecting contract
A worker performs quality checks on a Boeing Co. F/A-18 Super Hornet fighter aircraft at the Boeing Defense, Space & Security facility in St. Louis, Missouri, U.S., on Monday, July 24, 2018. Alex Flynn | Bloomberg | Getty Images Some 3,200 Boeing defense unit workers went on strike early Monday hours after turning down a […]
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Tesla approves share award worth $29 billion to CEO Elon Musk
Tesla has granted CEO Elon Musk 96 million shares worth about $29 billion, a move aimed at keeping the billionaire entrepreneur at the helm as he fights a court ruling that voided his original pay deal for being unfair to shareholders. In 2024, a Delaware court voided Musk’s 2018 compensation package, valued at over $50 […]
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Swiss tensions run high as clock ticks on U.S. tariff deadline
US President Donald Trump raises his fist upon arrival at the White House in Washington, DC, on August 3, 2025 after spending the weekend at his Bedminster residence. Mandel Ngan | Afp | Getty Images Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms […]
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Coinbase’s UK musical ad hits a nerve — sparking debate from crypto fans to founders
Photo Illustrating Coinbase in Suqian, Jiangsu Province, China on June 6, 2023 (Photo Illustration by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Coinbase set the business community alight after the American crypto firm dropped a musical advert which lambasted the U.K. as besieged by economic problems and an ongoing cost-of-living crisis. Online […]
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Trump’s penalty threat puts India in a bind over Russian oil
The Reliance Industries Ltd. oil refinery in Jamnagar, Gujarat, India, on Saturday, July 31, 2021. Bloomberg | Bloomberg | Getty Images India is navigating a tricky balancing act after U.S. President Donald Trump threatened a “penalty” over its continued imports of Russian oil — a trade that New Delhi appears reluctant to end anytime soon. […]
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Europe’s record-breaking heat waves are driving spikes in demand for air conditioning
Heat waves and longer summers are driving seasonal spikes in demand for cooling units, highlighting the need for efficient technologies and adequate power supply to keep Europe cool. This year is set to bring another record hot summer, with temperatures reaching as high as 39 degrees Celsius in Paris. The increase in heat, as well […]
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Nvidia’s set to regain some China access. But it still faces eroding AI chip market share
Photo illustration of Nvidia’s H20 chip. Vcg | Visual China Group | Getty Images Nvidia‘s H20 chips are likely to return to China, but tech experts don’t expect them to be met with the same fanfare in the market in light of new competition and regulatory scrutiny. The Trump administration last month gave Nvidia assurances […]
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