Billionaire financier and New York Mets owner, Steve Cohen, shared his anticipation of a future where a four-day workweek becomes the norm, a belief that influenced his 2023 investment in the golf startup league, TGL. Cohen expressed this view during an interview on CNBC’s “Squawk Box,” citing the growing influence of artificial intelligence and lower… Continue reading Steve Cohen says a 4-day work week is coming in part because of AI

In a recent interview with CNBC’s Andrew Ross Sorkin on “Squawk Box,” billionaire hedge fund manager Steve Cohen shared his skepticism regarding the Federal Reserve’s ability to rein in inflation to its 2% target. Cohen highlighted the challenges posed by recent data showing unexpected increases in inflation during the first quarter of the year, leading… Continue reading Steve Cohen says the Fed may have a hard time getting inflation down to its goal

President Joe Biden’s recent phone call with Chinese President Xi Jinping aimed to foster responsible management of the strained U.S.-China relationship, characterized by “intense competition” requiring diplomatic efforts to address tensions and prevent conflicts. During the call, Biden planned to raise various U.S. concerns, including economic ties, tensions over Taiwan, China’s support for Russia in… Continue reading Biden and Xi Jinping hold phone call ahead of Yellen’s trip to China

The 10-year Treasury note yield surged on Tuesday, building on gains from the previous session, as traders reconsidered the likelihood of the Federal Reserve cutting rates in June. At nearly 7 basis points, the benchmark rate climbed to 4.397%, marking its highest level since November 28, while the 2-year Treasury note yield rose by almost… Continue reading 10-year Treasury yield hits highest level since November as bets on June rate cuts cool down

United Airlines is facing challenges due to delayed aircraft deliveries from Boeing, prompting the airline to ask pilots to take unpaid time off next month. The Air Line Pilots Association, United’s pilots’ union, reported a significant reduction in forecast block hours for 2024, attributed to delays in Boeing deliveries affecting the 787 and 737 fleets,… Continue reading United asks pilots to take unpaid time off, citing Boeing’s delayed aircraft

The article profiles Dana Walden, a seasoned media executive who might be poised to become the first female CEO of Walt Disney Co. Walden’s journey began when Peter Chernin, then president of 20th Century Fox, recognized her potential and moved her from corporate communications to TV programming. Fast forward to 2024, and Bob Iger, Disney’s… Continue reading How Dana Walden could defy critics and become Disney’s first female CEO

Amazon is making a significant investment in Anthropic, a San Francisco-based startup specializing in generative artificial intelligence, marking the largest outside investment in Amazon’s history. The investment, totaling $2.75 billion, follows an initial $1.25 billion investment announced in September, with Amazon committing to invest up to $4 billion in total. Anthropic’s foundation model and chatbot,… Continue reading Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet

Ocean carriers are invoking “force majeure” in response to the crisis at the Baltimore port bridge, shifting the responsibility of cargo pick-up to logistics companies and U.S. shippers, such as retailers, once the cargo is diverted to alternate ports. CMA CGM was the first carrier to declare force majeure, signaling the activation of contractual provisions… Continue reading Baltimore port bridge collapse: Global ocean carriers put U.S. companies on hook for urgent cargo pickup

Veteran investor John Paulson is rallying Wall Street allies to support Donald Trump’s bid for the presidency once again, emphasizing the need for unity behind Trump’s leadership. Paulson’s call comes as he hosts a fundraising dinner for Trump on April 6 at his Palm Beach residence, joined by other influential GOP figures such as Rebekah… Continue reading Trump turns to his ‘old cast’ to raise millions for 2024 and the PAC paying his legal bills

Boeing CEO Dave Calhoun is set to step down by the end of 2024, as part of a broader restructuring within the troubled aerospace giant. Larry Kellner, the current chairman of the board, will also resign and won’t seek reelection at Boeing’s annual meeting in May. He will be succeeded by Steve Mollenkopf, a Boeing… Continue reading Boeing CEO to step down in broad management shake-up as 737 Max crisis weighs on aerospace giant

In response to a string of recent safety incidents, United Airlines announced increased scrutiny from U.S. safety regulators, particularly the Federal Aviation Administration (FAA). Following emergencies involving missing aircraft panels, a Boeing 737 MAX veering off the runway in Houston, and a Boeing 777-200 losing a tire mid-flight, United’s corporate safety vice president, Sasha Johnson,… Continue reading FAA to step up scrutiny of United Airlines after recent incidents

The emergence of the China-built BYD Seagull, a compact electric vehicle priced at less than $10,000, has sent ripples across the global automotive industry due to its profitability and potential disruption of traditional automakers worldwide. While BYD’s expansion into global markets raises concerns among automotive executives and politicians, particularly in regions like Detroit, Texas, Germany,… Continue reading Why a small China-made EV has global auto execs and politicians on edge