This Transportation Bill Provision Could Shield Uber and Lyft From Lawsuits
Uber currently faces thousands of class-action lawsuits for rampant sexual assault cases and other accident injuries.
Uber currently faces thousands of class-action lawsuits for rampant sexual assault cases and other accident injuries.
Critics warn SpaceX’s initial public offering may be a threat to market stability and Americans’ retirement savings.
Tariffs, localization requirements, and other trade barriers abroad are making a pure export strategy trickier to sustain.
President Donald Trump’s attempt to explain his sudden “love” for high inflation just made things so much worse. Speaking to reporters in the Oval Office Wednesday, Trump brushed off a bleak inflation report finding that America’s annual inflation rate had reached its highest levels in three years.“The numbers were great. You know what I really love? I love the inflation,” Trump said.Speaking on the phone with the New York Post later that day, Trump claimed he’d been taken out of context. “I love the inflation numbers because of what I’m talking about,” he said. “The numbers are going to be phenomenal because what’s showing is that despite the fact that we’re in a war, the numbers are much lower than anticipated, and when we’re out of that war, the numbers will be at lower numbers than they were even before it started,” Trump claimed. Inflation is not any lower than anticipated. Last month, a group of economists surveyed by Bloomberg estimated the consumer price index would rise to 3.9 percent. The Organization for Economic Cooperation raised its prediction up from 3 to 4.2 percent. Per Wednesday’s Bureau of Labor Statistics report, the current inflation rate is 4.2 percent.Still, Trump attempted to repackage the fastest-growing inflation in three years as better than it could’ve been and a sign of good things to come. That’s not good enough for Americans who are struggling to pay for gas, rent, and groceries because of a reckless war with no end in sight. Trump also dismissed Democrats who’d criticized his gushing over high inflation. “They’re so bad,” Trump said. “I was talking about inflation numbers that will be so good as soon as the war ends. The numbers will come way down, that’s what I’m talking about.“I’m always taken out of context,” the president continued. “My inflation numbers will be very low as soon as the war—they’re already very low, but they’ll be very low, because you know the energy brings them up a little bit, because we have to stop Iran from having a nuclear weapon.”Of course, that doesn’t even begin to qualify as being taken out of context. It was Trump who elided the actual context of the question: the current inflation rate. Not future numbers, or predictions, but the painful reality that Americans are literally paying the price for Trump’s wildly unpopular war. Was he concerned? No, he was delighted. If anything, the president’s baffling remarks have handed Democrats a winning message for the midterm elections: Trump loves inflation, and thinks that anyone whose struggle to make ends meet should thank him that things aren’t worse.
The billionaire tech founder returns to CEO role, taps JPMorgan and BlackRock to fund an “artificial general engineer.”
Wall Street firms are still betting on the UAE capital despite uncertainty over the Iran war.
Kuwait’s sovereign wealth fund is backing a new AI infrastructure venture alongside KKR, Nvidia, and power company Vistra.
Gulf countries have prospered in large part thanks to their cooperation. Rivalry can jeopardize further progress.