Author: Daniel snow
As President Donald Trump intensifies his trade war to stack up tariffs on many Asian countries that produce the goods that consumers in the U.S. rely on, low-cost Asian retail upstarts Temu and Shein may yet find a way back to big success in the U.S. market.The Asian rivals to Amazon were directly targeted by Trump in the removal of the tax-exempt status on low-volume shipments from overseas, the so-called de minimis tax. In May, Temu temporarily stopped shipping from China to the U.S. But as the trade war hits all the goods manufacturers across Asia, some retail experts say…
Jake Loosararian struggled for three years to get his artificial intelligence startup Gecko Robotics off the ground. He considered walking away, when a customer offered him $500,000 to buy the business in 2015.Now, a decade later, the business is worth $1.25 billion — following a $125 million fundraising round led by Cox Enterprises, the company announced on June 12. The new funding round means Gecko’s valuation has nearly doubled since December 2023, when it was valued at $633 million in a different fundraising round.Gecko began in 2012, when Loosararian and some of his electrical engineering classmates at Pennsylvania’s Grove City…
X Corp’s CEO Linda Yaccarino looks on during the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, U.S., January 31, 2024. Nathan Howard | ReutersEx-X CEO Linda Yaccarino is still @lindayaX on the social media site, but she lost the blue checkmark next to her account name.The X Help Center notes that the site “may remove the checkmark of an account at any time without notice.”Yaccarino announced she was leaving the position on Wednesday. The blue checkmark that is bestowed upon verified, X Premium accounts was removed from Yaccarino’s profile after the announcement of…
Nvidia co-founder and CEO Jensen Huang is now nearly as rich as longtime billionaire Warren Buffett — and could even soon surpass the Oracle of Omaha, in terms of net worth.Huang, 63, has a $142 billion net worth — including a $27.6 billion increase since January 1 — according to a Bloomberg estimate on Wednesday evening. Much of his wealth comes from his roughly 3.5% stake in Nvidia, which is currently the world’s most valuable public company.Nvidia’s market cap briefly passed $4 trillion on Wednesday, making it the first to ever reach that benchmark, and its stock is up roughly…
Next year, more Americans will have access to a powerful financial tool.Embedded in President Donald Trump’s sweeping budget bill are three provisions that expand access to health savings accounts — the tax-advantaged accounts available to those enrolled in a high-deductible health plan.Like a flexible spending account, an HSA is funded through pre-tax dollars and can be used to cover medical costs throughout the year. Unlike an FSA, though, the money doesn’t have a “use it or lose it” provision. Rather, the funds sit in an account you own and can take with you should you switch jobs.Another feature that sets…
President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers.Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country’s total supply, according to data from the U.S. Department of Agriculture.Coffee beans need to grow in a warm, tropical climate, making Hawaii and Puerto Rico the only suitable places in the United States to farm the crop. But, as the world’s top consumer of coffee, the U.S. requires a massive supply to stay caffeinated. Mintel estimates that the U.S. coffee market reached $19.75 billion last year.The increase in trade…
CNBC spotted a Tesla robotaxi in Austin, Texas, on June 24, 2025Katie TarasovElon Musk’s Tesla has applied to test and eventually deploy its Robotaxi vehicles in Phoenix, Arizona, following in the footsteps of market leader Waymo.Tesla has applied to conduct autonomous vehicle testing and operations, with and without human safety drivers on board, in Arizona, a spokesperson for the Arizona Department of Transportation told CNBC on Thursday. A decision on the application is expected at the end of July, and Tesla has “expressed interest in operating within the Phoenix Metro area,” the spokesperson said via email.Reuters first reported Tesla’s Arizona…
Analysts see paths to more milestones for Nvidia after the stock closed at a $4 trillion market capitalization for the first time Thursday. Source link
Statue of George Mason on campus of George Mason University, Fairfax, Virginia. Robert Knopes | UCG | Universal Images Group | Getty ImagesThe Department of Education said Thursday that it has opened an investigation into George Mason University’s hiring and promotion practices, the second federal probe of the Fairfax, Virginia, school launched in the past month.The department’s Office for Civil Rights is investigating a complaint filed by GMU professors who alleged that the university’s personnel decisions are skewed to favor some racial groups over others.The department said in a statement that the alleged behavior “creates a racially hostile environment” and…
It plays a much smaller role in our national life, and this has a dehumanizing effect on our culture. Source link