GM investing $760 million in Toledo factory to make electric car drive units

The drive units will be used in GM electric trucks, the automaker said, including the GMC Hummer EV, which is currently in production, and the upcoming Chevrolet Silverado EV and GMC Sierra EV. It will be GM’s first US engine or transmission factory adapted for electric vehicle-related production. Electric drive units include an electric motor, … Read more

American Airlines Flyer Charged, Banned For Life After Punching Flight Attendant On Video

Alexander Tung Cuu Le, 33, of Westminster, in Southern California, was arrested when the aircraft landed at Los Angeles International Airport, according to an American Airlines official. He was charged Thursday with one count of interference with flight crew members and attendants, which carries a maximum penalty of up to 20 years in prison, said … Read more

Crypto Market Review, September 23

Arman Shirinyan Cryptocurrency market is still in red while Cardano is showing some exceptional performance Despite the mild recovery we saw on the cryptocurrency market only a day ago, most digital assets remain in the red. Bitcoin has lost 14% of its value during one week of trading, which, however, is not a number that … Read more

U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

U.S. stocks closed sharply lower Friday, with the Dow Jones Industrial Average ending at its lowest closing value since November 2020. All three major benchmarks suffered another week of losses as bond yields rose in the wake of the Federal Reserve’s interest rate hike on Wednesday. For the week, the Dow dropped 4% while the … Read more

Was the Ethereum Merge a Mistake?

“What do you think of the merge?” I recently innocently asked William “Wills” de Vogelaere, co-founder of Spankchain and probably half a dozen other protocols in the grisly underworld of Ethereum. I was, of course, referring to the long-awaited software upgrade which booted Ethereum’s miners and replaced them with a cohort of environmentally friendly stakeholders … Read more

Cardano Creator Charles Hoskinson Says Hundreds of Crypto Projects Gearing Up for Launch After Blockchain Upgrade

Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade. Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA’s new capabilities become available to developers next week. “I’ve seen hundreds of tweets like this … Read more

Wharton’s Jeremy Siegel accuses Fed of making one of the biggest policy mistakes in its 110-year history

““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”” — Jeremy Siegel Wharton professor Jeremy Siegel has a bone to pick with Federal Reserve Chair Jerome Powell. The longtime … Read more

Stocks tumble, dollar soars and bonds plunge as recession fears grow

Dow poised to confirm bear market MSCI All-World index hits 2-year low Dollar reaches new two-decade high Sterling and gilts sell off after UK ‘mini-budget’ NEW YORK/LONDON, Sept 23 (Reuters) – U.S. and European stocks tumbled on Friday, the dollar scaled a 22-year high and bonds sold off again as fears grew that a central … Read more

Musk says activating Starlink, in response to Blinken on internet freedom in Iran

Starlink logo is seen on a smartphone in front of displayed Ukrainian flag in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 23 (Reuters) – SpaceX CEO Elon Musk said on Friday that he would activate the firm’s satellite internet service, Starlink, in response to … Read more