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Can you still pay with pennies? How will businesses make exact change? Here's what we know.
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A soaring 30-year Treasury yield has grabbed the lion's share of attention lately when it comes to signaling how the U.S. fiscal outlook is rattling investors. Yet there's another less-talked-about factor weighing on sentiment that is coming from overseas: the tumultuous rise in the bond yields of Japan.
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Senate votes to block California's rule banning the sale of new gas-powered cars by 2035 AP NewsSenate Republicans Kill California's Ban on Gas-Powered Cars The New York TimesFury as Republicans go ‘nuclear' in fight over California car emissions The GuardianTesla Stock Drops After Trump Tax Bill Passes. There's Another Vote to Watch. Barron'sUpending norms, the Senate votes to undo California's EV rules
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Amazon's CEO spoke at the company's annual shareholder meeting this week.
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Cryptocurrency Bitcoin's price has reached record highs, surging past $111,000.
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Nike reportedly is hiking prices by as much as 7%, according to various media reports, though the apparel maker is not tying the cost increases directly to tariffs.
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TikTok did not disclose the number of employees affected by the layoffs.
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Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Treasury, and other agencies weighed in on how to manage and regulate a CBDC.
The government is reacting in part to the explosive growth of digital currencies. About three out of ten U.S. adults currently invest in some form of cryptocurrency, or "crypto," like Bitcoin or Ethereum. These digital "coins" rely on a decentralized network of computers to verify financial transactions, cutting out third parties like banks or credit cards.
The good, the bad, and the ugly of crypto
Advocates of crypto point to its affordability, efficiency, and its ability to reach consumers with little or no access to traditional banking services. With just a mobile phone or a crypto ATM, consumers can easily send and receive digital currency, even across international borders.
On the other hand, crypto is still largely unregulated and volatile. Investors in Bitcoin, for example, saw returns of over 70% in 2021, but the currency is down almost 60% year to date. And if you send your payment to the wrong account (called a "digital wallet") there may be no way to retrieve it. Crypto has also been used for money laundering, fraud, and to fund terrorism. Several
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