Biden overhauls U.S. policy on marijuana, pardons prior federal offenses
By Jeff Mason and Doina Chiacu WASHINGTON (Reuters) -President Joe Biden took steps to overhaul U.S. policy on marijuana on Thursday by pardoning thousands of people with federal offenses for simple marijuana possession and initiating a review of how the drug is...
Cathie Wood Snaps Up $32 Million Worth of Tesla Shares after Sell-Off
Due to the 132,213 shares bought by ARK Investment Management LLC, a Cathie Wood-led fund, Tesla shares rose 4% on Tuesday to $252.2 after closing 8.6% down on Monday. That comes after Elon Musk’s EV Company is said to have missed deliveries in the third quarter had...
Explainer-What is an ‘everything app’ and why does Elon Musk want to make one?
By Sheila Dang (Reuters) - Why is Elon Musk suddenly thinking about creating an "everything app," and what does that even mean? The question arose on Tuesday after the billionaire chief executive of Tesla Inc reversed course on his earlier decision not to buy Twitter...
This Could Send Oil Back to $100 a Barrel
Oil prices are gushing higher. Last trading at $86.52, oil could push higher on news OPEC+ is considering a two million bpd production cut. If that happens, oil could run back to $100 a barrel. According to CNBC: “An influential alliance of some of the world’s most...
Musk reverses course, again: he’s ready to buy Twitter, build ‘X’ app
By Anirban Sen and Tom Hals (Reuters) - Billionaire Elon Musk is proposing to proceed with his original $44 billion bid to take Twitter Inc private, security filings showed on Tuesday, calling for an end to a lawsuit by the social media company that could have forced...
Twitter surges as Musk proposes going through with deal
By Noel Randewich (Reuters) - Twitter Inc's stock surged on Tuesday after billionaire Elon Musk proposed to go ahead with his takeover of the social media platform at $54.20 per share. Twitter jumped over 22% to end at $52.00 after a securities filing showed Musk...
Robots are making French fries faster, better than humans
PASADENA, Calif. (Reuters) -Fast-food French fries and onion rings are going high-tech, thanks to a company in Southern California. Miso Robotics Inc in Pasadena has started rolling out its Flippy 2 robot, which automates the process of deep frying potatoes, onions...
GM outsells Toyota in U.S. as industry braces for brakes on demand
By Aishwarya Nair (Reuters) - General Motors Co outsold Japanese automaker Toyota Motor Corp in the United States in the third quarter, data on Monday showed, but analysts and investors are fretting that a darkening economic picture will lead to a drop in car sales....
New York follows California in imposing a rule for zero-emission cars by 2035
According to New York State’s governor Kathy Hochul, the state wants to have zero-emission cars sold by 2035. The governor ordered state regulators to implement necessary changes to see new pickup trucks, SUVs, and passenger cars sold with zero emissions. Hochul’s...
Supreme Court to scrutinize U.S. protections for social media
By Andrew Chung WASHINGTON (Reuters) -The U.S. Supreme Court on Monday agreed to hear a challenge to federal protections for internet and social media companies freeing them of responsibility for content posted by users in a case involving an American student fatally...
Apple loses second bid to challenge Qualcomm patents at U.S. Supreme Court
By Blake Brittain WASHINGTON - The U.S. Supreme Court on Monday again declined to hear Apple Inc's bid to revive an effort to cancel three Qualcomm Inc smartphone patents despite the settlement of the underlying dispute between the two tech giants. The justices left...
How hurricane categories forecast the scale of destruction
(Reuters) - Hurricane Ian approached Florida's Gulf Coast on Wednesday as a powerful storm just one rating shy of the highest category designation given to storms in the United States. Storm strength is defined by the Saffir-Simpson Hurricane Wind Scale, which...
Wall St posts third straight quarterly loss as inflation weighs, recession looms
By Stephen Culp NEW YORK (Reuters) - The S&P 500 closed the books on its steepest September decline in two decades on Friday, skidding across the finish line of a tumultuous quarter fraught with historically hot inflation, rising interest rates and recession...
Three Top Ways to Trade a Potential Aluminum Ban
Aluminum stocks are on the move. All on news the London Metal Exchange could ban Russian aluminum. “Such a move would be significant for the global industry. Russia accounts for about 5% of global aluminum production. That might sound like a relatively small...
Google to wind down Stadia streaming service three years after launch
(Reuters) - Alphabet Inc's Google said on Thursday it would wind down its consumer gaming service, Stadia, as it failed to attract enough interest from gamers after nearly three years of being launched. Gaming companies are facing a slowdown in demand for video games...
U.S. weekly jobless claims hit five-month low; economic picture darkening
By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite rising headwinds from the Federal Reserve's stiff interest rate increases and...
EV Charging Station Stocks Get Green Light
Electric vehicle charging stocks could accelerate. All after the U.S. Transportation Department approved EV charging stations for all 50 states, including Washington, D.C. and Puerto Rico to cover 75,000 miles of highway. “We have approved plans for all 50 States,...
Why Lithium Prices Could Accelerate to Higher Highs
Electric vehicle stocks may be some of the safest. That’s because EV sales may be on course to hit all-time highs this year, according to the International Energy Agency (IEA). According to CNBC, “The IEA said global sales had doubled in 2021 to represent nearly 9%...
GM delays return-to-work plans to 2023
By David Shepardson (Reuters) - General Motors Co on Tuesday said it will not mandate workers return to offices before 2023 after it had told them on Friday that they would be expected to work three days on-campus each week later this year. The U.S. automaker told...
Biden plan to cancel some U.S. student loan debt will cost $400 billion -CBO
By David Shepardson and Eric Beech WASHINGTON (Reuters) -U.S. President Joe Biden's executive actions cancelling some student loan debt will cost about $400 billion, about a quarter of funds owed, the Congressional Budget Office (CBO) said on Monday. As of June 30, 43...