Business Archives - Cowley Post

Will AI ever make big profits? Experts weigh in as bubble fears loom

Friday, November 28

(NEW YORK) -- Fears of an artificial intelligence bubble have rattled the stock market in recent weeks and set off concern among critics about a wider risk to the U.S. economy.A surge of AI spending accounted for roughly two-thirds of gross domestic product growth... Read More.

Black Friday online shopping expected to hit record high, data shows

Friday, November 28

(NEW YORK) -- Online shoppers set a record high on Thanksgiving, paving the way for gangbusters performance on Black Friday, Adobe data showed.Digital spending on Thanksgiving jumped 5% from a year earlier, totaling $6.4 billion and exceeding Adobe's expectations, the firm said.The company also... Read More.

Gas prices near lowest level in 4 years ahead of Thanksgiving

Tuesday, November 25

(NEW YORK) -- Gas prices stand close to their lowest level in four years as tens of millions of people prepare to travel over the Thanksgiving holiday.The national average for a gallon of gas on Monday tallied at $3.07, which amounts to a slight... Read More.

Nvidia defies AI bubble fears but some analysts remain worried

Saturday, November 22

(NEW YORK) -- Blockbuster earnings from chip giant Nvidia this week appeared to rebuke concerns about an artificial-intelligence bubble, briefly ending a days-long slump in the stock market."It's fair to say that Nvidia's results have completely changed the market mood and pushed out any... Read More.

Stocks rally after blockbuster Nvidia earnings, jobs report

Thursday, November 20

(NEW YORK) -- Stocks rallied in early trading on Thursday, just hours after blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report.The Dow Jones Industrial Average jumped nearly 600 points, or 1.2%, while the S&P 500 climbed 1.8%. The tech-heavy... Read More.

Jobs report blows past expectations, defying hiring slowdown

Thursday, November 20

(NEW YORK) -- Employers hired far more workers than expected in September, defying a sharp slowdown over the summer that appeared to cool off the labor market.The U.S. added 119,000 jobs in September, according to data from the U.S. Bureau of Labor Statistics. That... Read More.

Long-delayed jobs report to show hiring amid wobbly economy

Thursday, November 20

(NEW YORK) -- A long-awaited jobs report to be released on Thursday will offer the latest look at the health of the labor market at a fraught moment for the U.S. economy.Hiring slowed sharply over the summer, before a government shutdown paused the release... Read More.

Nvidia earnings captivate investors as fears of AI bubble grow

Wednesday, November 19

(NEW YORK) -- Financial results to be released on Wednesday by chipmaking-giant Nvidia will be closely watched as a bellwether for the stock market and the overall economy, which have both come to rely on massive spending on artificial intelligence... Read More.

Outage at Cloudflare disrupts access to some popular websites

Tuesday, November 18

(NEW YORK) -- Web infrastructure company Cloudflare said it is experiencing problems across its network on Tuesday, curtailing access to some popular websites."Cloudflare is aware of, and investigating an issue which potentially impacts multiple customers," the company said online at around 7 a.m. ET.Minutes... Read More.

Cash price for popular weight loss drug Wegovy dropping 30% Monday, manufacturer says

Monday, November 17

(NEW YORK) -- The cash price for popular weight-loss medications Wegovy and and the medication authorized for people with type 2 diabetes Ozempic are dropping by 30% in U.S. on Monday, according to Novo Nordisk, the Danish pharmaceutical company that manufactures both drugs.The new... Read More.

Will the rich leave New York City after Mamdani takes office? Experts weigh in

Saturday, November 15

(NEW YORK) -- New York City Mayor-elect Zohran Mamdani, a democratic socialist who says he wants to hike taxes on the rich, set off alarm among some critics about a potential exodus of wealthy people bent on keeping their money out of government coffers.As... Read More.

Starbucks workers strike nationwide in ‘Red Cup rebellion,’ union says

Thursday, November 13

(NEW YORK) -- Starbucks baristas are set to walk off the job in dozens of U.S. cities on Thursday, aiming to galvanize public support and pressure the company on "Red Cup Day," the coffee giant's annual holiday promotion.More than 1,000 Starbucks workers will go... Read More.