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July 10, 2024

Business and Economics

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The era of zero interest rates may be over: Powell

Federal Reserve Chairman Jerome Powell said on Wednesday that the era of ultra-low interest rates that lasted from the 2008 financial crisis through the pandemic is likely over, and that the neutral interest rate for achieving 2% annual inflation has probably risen.

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Microsoft resigns from observer seat on OpenAI board amid scrutiny

Microsoft on Tuesday stepped down from its observer role on OpenAI’s board of directors amid increased scrutiny of the partnership between the two tech giants from antitrust regulators in the United States and Europe.

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of Ministry of Labor Release Schedule Consumer Price Index June Thursdays at 8:30 a.m. ET

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Federal judge orders mediation to break Puerto Rico power company debt impasse

SAN JUAN, Puerto Rico (AP) — A federal judge overseeing the lengthy debt restructuring process…

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Business and economic news from other media:

S&P 500 Finished over 5,600 The first increase (CNBC)
Microsoft Open AI Observer seats on the Board of Directors under regulatory oversight (CNN)
Costco The annual fee will be increased for the first time since 2017 (Bloomberg)

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Giuliani trial plunges into chaos as judge threatens to dismiss bankruptcy

During a chaotic hearing on Wednesday, the judge briefly threatened to turn off the microphone after former New York Mayor Rudy Giuliani interrupted, but then indicated he would dismiss his bankruptcy filing. read more

Top fundraiser George Clooney gives up on Biden: ‘The dam has broken’

Fresh from hosting a star-studded fundraiser for President Biden’s campaign last month, George Clooney has now reversed course, saying Democrats “are not going to win in November under this president.” read more