The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II,…
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Business
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Lots of people will be getting their sea legs this summer. Ports have been packed with cruise ships over the last few years, as vacationers flock to ever larger vessels and operators race to accommodate…
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In George Miller’s new Mad Max film “Furiosa,” a red paint flare explodes and casts the theater screen in a saturated crimson cloud. Feet away, among the rows of gyroscopic 4DX chairs, plumes of fog…
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Elon Musk’s AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race. The…
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Five years ago, Nvidia CEO Jensen Huang owned a stake in his chipmaker worth roughly $3 billion. After Thursday’s rally, which pushed the stock to a record, his holdings now stand at more than $90 billion. Nvidia…
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DETROIT — The United Auto Workers union is challenging the results of last week’s organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Among…
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High inflation is subsiding, but many Americans have yet to see relief from elevated prices at the grocery store. “Grocery prices skyrocketed during the pandemic, and in many cases, they’ve kept going up, even though the pandemic…
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Business
Boeing, NASA say Starliner astronaut launch will move forward despite spacecraft helium leak
Boeing and NASA are moving forward with the launch of the company’s Starliner capsule, set to carry U.S. astronauts for the first time, despite a “stable” leak in the spacecraft’s propulsion system. “We are comfortable with…
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Car shoppers should have an easier time finding good deals this Memorial Day weekend than last. Dealerships are sitting on a glut of 2023 vehicles, leading to steeper discounts and lower interest rates than usual,…
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Business
It wasn’t the endless shrimp that pinched Red Lobster. How private equity rolled the seafood chain.
Angry that your favorite Red Lobster closed down? Wall Street wizardry had a lot to do with it. Red Lobster was America’s largest casual dining operation, serving 64 million customers a year in almost 600…