Author: Leslie Stewart

Sam Altman, CEO of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, USA, on Tuesday, September 23, 2025.Kyle Grillot | Bloomberg | Getty ImagesOpenAI’s recent release of its AI browser could, if possible, further accelerate historic levels of capital investment in the current AI arms race. Some say this is a bubble because of the reciprocal and cyclical nature of hundreds of billions of dollars in investment commitments tied to future chip purchases and the extent to which GDP growth is dependent on this boom. Harvard economists estimate that 92% of US GDP…

ADP reported on Wednesday that private sector employment growth in October was slightly higher than expected, offering some hope that the labor market is not in danger of sinking.Companies added 42,000 jobs during the month, a gain of 22,000 jobs that followed a decline of 29,000 in September and exceeded the Dow Jones consensus estimate. According to the payroll company, the revised figures for September reduced the number of jobs lost by 3,000.The trade, transport and public works sector added 47,000 jobs, offsetting losses in several other sectors. Education and health services also showed an increase of 26,000 cases, and…

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IE11 is not supported. For the best experience, please visit our site in a different browser.Currently playingWhat the close margin in the VA gubernatorial race shows01:15to the nextSpanberger wins Virginia gubernatorial race, NBC News project00:09Kornacki’s approval rating falls below Trump in exit polls01:08Steve Kornacki analyzes New York City exit polls00:39UPS plane crashes after leaving Louisville00:24Mamdani reacts to President Trump’s support for Cuomo00:59New Jersey voters share the issues that matter most to them01:12David Beckham receives knighthood from King Charles at Windsor00:28Kornacki: Cuomo needs this coalition of voters to win01:10What you need to know about the Virginia gubernatorial race and the AG…

A job seeker holds a brochure at the New York State Department of Labor Job Fair held at the Downtown Central Library on Wednesday, August 27, 2025 in Buffalo, New York, USA. Lauren Petracca Bloomberg | Getty ImagesAs October draws to a close and the government shutdown drags on, job opportunities have hit the lowest level in more than 4-1/2 years, according to data from job site Indeed.The company’s jobs index fell to 101.9 as of Oct. 24, the latest point for which data is available. This is the lowest level since early February 2021 for an index that uses…

Treasury Secretary Scott Bessent said Tuesday there are other options if he loses, as the Supreme Court prepares to hear President Donald Trump’s landmark tariff case.The high court is scheduled to hear arguments Wednesday on whether President Trump exceeded his authority under the International Emergency Economic Powers Act by enacting sweeping tariffs against U.S. trading partners.At issue is the president’s ability to use trade measures as an economic policy tool. In an interview with CNBC’s “Squawk Box,” Bessent expressed confidence that his administration will win but has further tools in place in case the decision goes in the opposite direction.”There…

Congress has long recognized that stablecoins should not function as unregulated bank deposits. The intent of the recently enacted GENIUS law is clear. It prohibits issuers of stablecoins from paying interest or yield to holders and maintains the distinction between payment instruments and bank deposits, which are used not only for payment purposes but also as store value.However, loopholes have already emerged. Some crypto exchanges and affiliated platforms currently offer “rewards” akin to interest to stablecoin holders, potentially undermining the stability of traditional banking systems and constraining community trust.Terminology is important. Credit card rewards are funded by interchange fees, which…

As corporate America is reeling from historic white-collar layoffs, some are wondering, “Is AI finally coming to their jobs?”The proliferation of generative and agentic artificial intelligence is a contributing factor, while recent layoff announcements by companies such as: Amazon, UPS and target It’s more than just a new technological advancement. Both companies have announced job cuts in recent weeks, saying more than 60,000 positions will be cut in total this year, but both companies say they are trying to reduce bloat, streamline operations and adapt to new business models.But with the Bureau of Labor Statistics’ monthly employment report still unreleased…

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