Brent Jabbour
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Korea semiconductor company SK Hynix gets $450 million in CHIPS Act grant
The U.S. will officially host five of the world’s largest semiconductor manufacturers after dolling out tens of billions of dollars in grant money. The Biden administration announced Tuesday, Aug. 6, it’s awarding hundreds of millions in grants to South Korea’s SK Hynix for its new facility in West Lafayette, Indiana. The company announced in April it… -
A federal judge ruled Google is a monopoly. What happens now?
Google is a monopoly that illegally maintained its stranglehold on the search world, a federal judge ruled Monday, Aug. 5. It’s a major antitrust victory for the Justice Department against Big Tech, and could impact other antitrust lawsuits against Google, Apple, Amazon and Meta. Google said it plans to appeal the decision. This Google case is years… -
CrowdStrike strikes back over Delta Air Lines’ $500 million claim
Cybersecurity firm CrowdStrike on Sunday, Aug. 4, shot down Delta Air Lines’ claim that it should be financially responsible for a global outage that stranded half a million of its passengers in mid-July. The response comes after Delta hired high-powered attorney David Boies’ law firm looking for compensation from both Microsoft and CrowdStrike. In a… -
Overreaction or rational? Here’s why the US stock market plunged Monday.
Investors slammed the sell button the morning of Monday, Aug. 5, with the Dow Jones Industrial Average sliding more than 1,000 points before the opening bell. The tech-heavy Nasdaq lost 6% while the S&P 500 was down more than 4% before the stock market opened. The global sell-off started overseas in Japan with the Nikkei… -
What is the Sahm rule? The US officially triggered this recession indicator.
It only took moments for Friday’s disappointing U.S. jobs report to stoke fears that a recession could be in the offing. In the wake of the report, Treasury yields took a dive while the Dow, S&P 500 and Nasdaq all faced a selloff, pushing them down more than 2% early in the afternoon. Employers added… -
After July’s big jobs miss, experts say a 50bps cut should be on the table
Experts are criticizing the Federal Reserve for being behind the ball after July’s jobs report showed a weakening labor market, two days after the Fed decided to leave its interest rate unchanged. Economists say the Fed’s restrictive monetary policy is now hurting the once-robust labor market. In July, the U.S. economy added 114,000 jobs, a… -
Weak jobs report and uptick in unemployment ‘a warning sign’
Hiring fell considerably and unemployment rose in July. The unemployment rate was up for the fourth straight month as eyes turn to whether or not U.S. economic policymakers will act in the coming months. Employers added only 114,000 jobs in July, according to data released Friday, Aug. 2, by the Bureau of Labor Statistics. That… -
First-of-its-kind AI law goes into effect in EU; US companies in the crosshairs
The world’s first artificial intelligence (AI) legislation went into effect Thursday, Aug. 1, in the EU. The AI Act, as its known, will regulate how companies develop and use the technology. The law is facing criticism that it could discourage innovation before it even happens. But the European Commission didn’t pass it overnight. In fact,… -
Google’s controversial Olympic Gemini ad is new reality even if people hate it
If you have tuned in to any part of the Olympics, chances are you’ve seen Google’s Gemini advertisement titled, “Dear Sidney.” In it, a father talks about his daughter’s admiration for track star Sydney McLaughlin-Levrone. “She wants to show Sydney some love and I’m pretty good with words but this has to be just right,”… -
Collectibles from Star Wars to Babe Ruth fetch big bucks in post-COVID rebound
A prototype of the iconic golden bikini worn by Carrie Fisher in 1983’s “Star Wars: Episode VI – Return of the Jedi” sold for $175,000 at auction. The sale was part of a $5.9 million Hollywood blockbuster for Heritage Auctions as the collectibles and memorabilia market continues its upward trend following a COVID-19 pandemic-inspired boom.… -
Dave Calhoun was hired to fix Boeing and failed. Is Kelly Ortberg up to task?
Boeing has picked a new chief to hopefully thrust it into the air. After a monthslong search, the aerospace giant selected Robert “Kelly” Ortberg, the former CEO of aerospace company Rockwell Collins. Ortberg replaces Dave Calhoun, who announced earlier this year he’s retiring after four years at the helm. Calhoun was hired to turn things around… -
Reply while you sleep: Instagram lets you create an AI version of yourself
Imagine: You direct message your favorite Instagram influencer and a reply comes back lightning fast. You didn’t even think they checked their DMs! But it might not be a real person behind that personalized message, even if it sounds just like them. Soon, anyone in the U.S. will be able to create AI versions of… -
What is Operation Choke Point 2.0? Trump promises to end it.
It was one of the many promises made by former President Donald Trump to a cryptocurrency crowd at this year’s Bitcoin conference. Crypto advocates have dubbed efforts to cut off the cryptocurrency industry from banking services “Operation Choke Point 2.0,” and Trump is vowing to end it. “As president, I will immediately shut down Operation…
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