Sunday, July 14

Business

Tesla’s Decline in U.S. Electric Vehicle Market Dominance
Business

Tesla’s Decline in U.S. Electric Vehicle Market Dominance

Tesla’s U.S. electric vehicle market share fell below 50% for the first time in the second quarter of the year, according to recent estimates from research firm Cox Automotive. Tesla’s share fell to 49.7% from 59.3% in the same period last year. The decline is notable as battery-powered vehicle sales have hit record highs during the same time frame. From April to June, Tesla faced increasing competition from General Motors, Ford, Hyundai, and Kia. Cox Automotive estimates, based on filings, company reports, and other data, highlight this shift. The latest quarter marks a significant milestone, as it is the first time Tesla’s market share has fallen below 50% in a single quarter. Despite Tesla's decline in market share, overall U.S. electric vehicle sales increased 11.3% from a year earlie...
Meet David Ellison: Paramount’s New Leader
Business

Meet David Ellison: Paramount’s New Leader

David Ellison’s Hollywood journey has been filled with high-energy, adrenaline-filled blockbusters filled with suspense, stunts and unexpected twists. But on Sunday, he achieved his most significant milestone by negotiating a merger with Paramount after months of discussions with the company and its largest shareholder, Shari Redstone. If the deal goes through, he will oversee a vast media empire that includes CBS, MTV and the Paramount movie studio. Although Ellison, 41, has been among Hollywood's elite for over a decade, he's only just now entering the spotlight. Here's a rundown of his career. Who is David Ellison and what is Skydance? A look at Ellison's Internet Movie Database page reveals a modest acting career with minor roles in films such as "Flyboys" and "The Chumscrubber" (wher...
Jane McAlevey: A Life Dedicated to Workers’ Empowerment Ends at 59
Business

Jane McAlevey: A Life Dedicated to Workers’ Empowerment Ends at 59

Jane McAlevey, an influential organizer and labor scholar, died Sunday at her cabin in Muir Beach, California, at the age of 59. Her half-brother, Mitchell Rotbert, confirmed that multiple myeloma was the cause of death. McAlevey had previously undergone surgery for breast cancer. Throughout her career, McAlevey was a staunch advocate for the working class, emphasizing the importance of worker-led unions. She believed that member-led unions were the most powerful tools for combating economic inequality. In her numerous writings and media appearances, she criticized many U.S. labor leaders for what she saw as their complacency and collusion with corporate interests. McAlevey’s journey as an organizer began with successful campaigns for the AFL-CIO and the Service Employees International Un...
Ray Kurzweil’s Take on AI Fusion
Business

Ray Kurzweil’s Take on AI Fusion

Ray Kurzweil, a renowned inventor and futurist, continues to claim that humans will soon merge with artificial intelligence. During an interview at the Four Seasons Hotel in Boston, Kurzweil showed a graph illustrating the exponential growth of computing power over the past 85 years. This steady increase, according to him, indicates that the so-called Singularity, when humans and AI become one, will occur within the next two decades. Kurzweil, who has made a career out of making bold predictions, reiterated claims in his 2005 book, The Singularity is NearWith the advent of AI technologies like ChatGPT and efforts to implant computer chips into humans, he felt it was time to update his predictions, which led to his latest book, The singularity is closer. At 76, Kurzweil’s predictions have ...
Otto Lucas, a “God in the hat world”, had famous designs that ended up in British Vogue magazine
Business

Otto Lucas, a “God in the hat world”, had famous designs that ended up in British Vogue magazine

This article is part of Neglected, a series of obituaries about extraordinary people whose deaths, beginning in 1851, were not reported by The Times. For many fashionable women of the mid-20th century, a hat wasn't worth wearing unless it was made by Otto Lucas. Lucas was a London milliner famous for his elegant turbans, caps and cloches, often made of fine velvets and silks and decorated with flowers or feathers. Her designs have graced the covers of magazines such as British Vogue and have been worn by illustrious clients, including actresses Greta Garbo and Gene Tierney, as well as the Duchesses of Windsor and Kent. Otto Lucas was a household name in England. At the height of his career, he sold thousands of hats a year around the world. “He must have been the most famous milliner of t...
Chet Hanks and the Rise of a Controversial Meme
Business

Chet Hanks and the Rise of a Controversial Meme

In the spring of 2021, Chet Hanks, son of Tom Hanks, sparked controversy by declaring that it would be a “white boy summer.” Initially ambiguous, the phrase has since been co-opted by white supremacist groups, according to a report by the Global Project Against Hate and Extremism. This year, the slogan has appeared in thousands of Telegram posts, used by far-right groups to recruit, organize protests, and incite violence, particularly against immigrants and LGBTQ individuals. The phrase now symbolizes an unabashed celebration of white heterosexual masculinity, often at the expense of women and people of color. Wendy Via, co-founder of the Global Project Against Hate and Extremism, noted that the meme has moved from the fringes of the Internet to mainstream political discourse. Jack Posobi...
Costner’s Expensive ‘Horizon’ Bites the Dust at the Box Office
Business

Costner’s Expensive ‘Horizon’ Bites the Dust at the Box Office

"Inside Out 2," featuring Anxiety personified, maintained its position as the top film in North America for the third consecutive weekend. Meanwhile, "A Quiet Place: Day One," a suspenseful prequel, exceeded expectations with its strong ticket sales. However, Kevin Costner’s three-hour film “Horizon: An American Saga – Chapter 1” was largely ignored by moviegoers. Originally intended for streaming, this supposed start to an Old West series eventually made it to theaters, but failed to attract significant interest. Pixar’s “Inside Out 2” was projected to gross $57.4 million, reaching a three-week total of about $470 million in the U.S. and Canada, according to estimates from box office analysts on Sunday. The well-received sequel is approaching $1 billion in global ticket sales, a mileston...
USA Today Editor-in-Chief Terence Samuel Resigns
Business

USA Today Editor-in-Chief Terence Samuel Resigns

USA Today Editor-in-Chief Terence Samuel announced Monday he is stepping down after a year in office. Samuel, a veteran journalist, had joined USA Today in July of the previous year from National Public Radio, where he had been a senior executive overseeing all newscasts. Neither Samuel nor USA Today gave a reason for his departure. In an email to the newsroom, Monica Richardson, a senior vice president at USA Today, said Samuel’s resignation was “effective today.” Caren Bohan, the political editor, will temporarily take over as managing editor while the publication conducts a national search for a new chief newsroom editor, Richardson wrote. In an interview on Monday, Samuel described his departure as "sudden," but did not provide further details about the reasons. “I wish this could hav...
Anthony O’Reilly, the Irish tycoon who ran Heinz, has died at the age of 88
Business

Anthony O’Reilly, the Irish tycoon who ran Heinz, has died at the age of 88

Anthony J.F. O'Reilly, a charming, ambitious, Irishman, former chairman of the H.J. Heinz Company, who also owned newspapers, luxury brands and trophy homes in France and the Bahamas, only to lose almost everything in his eighth decade, has died on May 18 in Dublin. He was 88 years old. The Irish Times and other Irish newspapers, quoting a family spokesman, said he died in hospital. The cause was not given. From his earliest days, Mr O’Reilly, known as Tony, was shy about giving gifts. He was a top-flight rugby player in his teens: “the red-headed pin-up of Irish rugby,” as the Guardian called him. His talent for business was equally precocious. At 26, as marketing director of the Irish Dairy Board, he created the Kerrygold brand to sell Irish butter to English food shoppers, an...
The Fed’s preferred measure of inflation shows signs of cooling
Business

The Fed’s preferred measure of inflation shows signs of cooling

The Federal Reserve's preferred measure of inflation continues to show signs of cooling, accompanied by moderate growth in consumer spending - positive news for central bankers aiming to control rising prices and curb demand. In May, the personal consumption expenditures (PCE) index rose 2.6% from a year earlier, meeting economists’ expectations and down slightly from April’s 2.7% increase. Excluding the more volatile food and fuel prices, core inflation also rose 2.6% year-over-year, down from April’s 2.8%. On a monthly basis, inflation remained remarkably subdued, with overall prices not showing any significant increases. The Federal Reserve is likely to scrutinize this new inflation data as it considers its next policy moves. Since 2022, the Fed has aggressively raised interest rates ...