Renewable energy demand will triple over the next seven years as data center growth accelerates to facilitate the proliferation of artificial intelligence, NextEra Energy CEO John Ketchum said Wednesday. NextEra added 3,000 megawatts of renewable and storage projects to its order backlog in the second quarter. Of those, 860 megawatts — or 28% — come from agreements with Google to power the ...
U.S. stocks had their worst day since 2022 on Wednesday amid a broad pullback in tech companies as Wall Street traders sought to reduce their exposure to firms that have made big bets on artificial intelligence. The tech-heavy Nasdaq index closed down 3.6%, while the broader S&P 500 index closed down 2.3% — both their worst performances in more than ...
At Berkshire Hathaway’s annual investor meeting earlier this year, Warren Buffett and his top insurance executive Ajit Jain issued a headline-grabbing warning that Berkshire would exercise caution regarding cyber insurance — in fact, it advised insurance agents to only sell cyber policies if they absolutely had to do so to satisfy a client, and to expect losses. A primary reason cited is ...
Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped — and thus far has been wrong every step of the way. The yield on the 10-year Treasury note has been lower than most of its shorter-dated counterparts since that time — a phenomenon known as an inverted yield curve which has preceded nearly every recession going back to ...
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations as it saw higher traffic at its restaurants, bucking an industry slowdown. Shares of the company rose after the closing bell. As of Wednesday’s close, Chipotle’s stock had slid 17% this month, hurt by investor concerns about the health of the restaurant industry. In late June, the ...
Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for ...
The National Basketball Association has rebuffed longtime media partner Warner Bros. Discovery’s bid to keep airing games after next season. The NBA told the media company it doesn’t believe it holds legal matching rights for the league’s new media deal. It instead plans to move ahead with Amazon as its third partner, along with ESPN and NBCUniversal, in its 11-year deal worth about ...
After a yearlong search, Rana Robillard was elated to learn she’d beaten three other bidders for a house in the leafy California suburb of Orinda, just outside of San Francisco. So when Robillard, who works at a software startup, received an email in late January from her mortgage broker with directions to wire a $398,359.58 down payment to a JPMorgan Chase account, she wasted ...
Many of America’s largest labor unions have now announced their endorsements of Kamala Harris’ presidential bid, as the vice president intensifies her campaign for the Democratic nomination. Yet some notable union holdouts remain, suggesting Harris will still have some work to do to win over other working-class voters. On Monday, the American Federation of Labor and Congress of Industrial Organizations ...
DETROIT — General Motors said Tuesday it is again slowing its plans for all-electric vehicles by further delaying a second U.S. electric truck plant and the Buick brand’s first EV. The six-month delay in retooling the electric truck plant in Michigan, until mid-2026, also means GM will not achieve a prior target of having North American production capacity of 1 million EVs by 2025. ‘We ...