Author: Money Mechanics

Elon Musk followed through on his threat. Musk’s companies X and xAI on Monday sued Apple and OpenAI in Texas federal court, alleging they have engaged in an “anticompetitive scheme” that prevents competitors like xAI’s Grok from competing fairly and ascending the App Store charts. Two weeks ago, Musk had written on his X social media network that its parent company, xAI, would “take immediate legal action” against Apple for an alleged “antitrust violation” related to App Store rankings. The Tesla (TSLA) CEO—whose xAI developed the Grok artificial intelligence chatbot and co-founded ChatGPT maker OpenAI—wrote, “Hey @Apple App Store, why do you refuse to put either…

(Oil Price) – ONEOK, Inc., MPLX LP, Whitewater, and Enbridge Inc. announced a new natural gas pipeline project to transport gas from the Permian Basin to the U.S. Gulf Coast. The Eiger Express Pipeline will be a 450-mile, 42-inch pipeline designed to transport up to 2.5 billion cubic feet per day of natural gas. The project is a joint venture between the existing Matterhorn joint venture, which comprises the four companies, and ONEOK and MPLX, which hold additional direct stakes. WhiteWater will be responsible for the construction and operation of the pipeline, which is expected to be completed in mid-2028. The pipeline will transport…

Subscribe Now: Apple Podcasts / Spotify / PlayerFM  We go inside Invest Fest, the biggest and best wealth festival on the planet, as it celebrates its fifth year of bringing education and empowerment to over 25,000 people in Atlanta. Hear from some of the most inspirational wealth builders and educators working today, including Cedric Nash, Chris Saim, and Austin Haynes, and see how Earn Your Leisure’s Troy Millings and Rashad Bilal have created this one of a kind gathering for investors, entrepreneurs and real estate experts. Plus, investors heard what they wanted to hear from Fed Chair Powell in Jackson Hole last week, but should…

With the market at all-time highs, many investors are piling into stocks. While investing is good, many people put all their eggs in one basket with stocks, making themselves susceptible to risk if the stock market crashes.  This is where bonds save the day. Bonds allow you to meet short-term cash flow needs and provide fresh powder to invest in stocks when the market is on sale. Key Takeaways Your time horizon should guide your bond allocation and comfort with risk.Bonds provide reliable cash flow, which can reduce stress when markets are volatile.Holding bonds allows you to buy stocks at…

Nvidia (NVDA) stock’s rapid rise on the back of booming AI demand has already made the chipmaker the world’s most valuable company. Most Wall Street analysts think its stock still has room to climb.  Expectations are on the rise ahead of the company’s earnings after the bell Wednesday, with Baird on Monday bumping its price target up to $225 from $195, after Stifel over the weekend lifted its to $212 from $202. Several others, including Morgan Stanley, UBS, and Wedbush, lifted theirs last week. Those targets are consistent with most others on the Street. Of the 14 analysts with current…

Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 1.3 percent in 2022 after increasing 3.7 percent in 2021 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior. GDP for 2022 The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment (chart 1). Imports, a subtraction item in the calculation…

Key Takeaways A survey of economists showed that most experts believe the economy faces risks of recession and high inflation.The 159 respondents largely said President Donald Trump’s economic policies would increase those risks.The policies that a majority of economists were concerned with were tariffs, immigration crackdowns, and the One Big, Beautiful Bill, among others. Economists see increasing risks to the economy, many of which may be caused by President Donald Trump’s economic policies.Tariffs, the recently-passed tax and spending bill, the government’s crackdown on immigration, Trump’s interference with the Federal Reserve, and the administration’s management of government economic statistics are all…

Tech giant Apple Inc AAPL recently announced a price increase for its streaming customers, taking its AppleTV+ subscriptions from $9.99 per month to $12.99 per month, its first price increase since 2023.Deepwater Asset Management Managing Partner Gene Munster breaks down what the price increase could mean.Gene Munster On Apple’s Price IncreaseThe price increase for Apple’s streaming segment represents a “small example of a big opportunity” for the tech giant, Apple bull Munster wrote in a recent blog post.Munster says that Apple is looking to increase its revenue per device through items like subscriptions and price increases for services and hardware.”I…

Thank you for the opportunity to speak to you today.1 I am here to discuss one of the most important resources that policymakers have: the lessons of history. In discharging my responsibilities at the Federal Reserve, I have been thinking a lot about history. Its study provides the opportunity to step out of the particular circumstances of today to inform our understanding of the core issues at the heart of financial regulation. While we must be attentive to new and even unprecedented challenges, experience shows that understanding the lessons of history gives policymakers a great advantage. Many of the decisions…

An Evergrande commercial complex in Beijing on Jan. 29, 2024.Greg Baker | Afp | Getty ImagesChina Evergrande Group was delisted from the Hong Kong Stock Exchange on Monday — an ignominious exit for the former high-flying developer that once epitomized Beijing’s economic rise and later came to symbolize the country’s property bust.Following its listing in 2009, Evergrande had become one of China’s hottest stocks, with the company’s market cap peaking at $51 billion in 2017. Trading in the company’s shares had been suspended since January 2024 when it received a liquidation order, with its market value falling to just above…