NEW YORK (Reuters) – Shares of Ford Motor and General Motors fell about 5% on Wednesday after Morgan Stanley analysts downgraded the U.S. automakers, citing a challenging market environment marked by falling prices and growing competitive threats particularly from China. Legacy U.S. automakers are faced with high inventories, falling prices, and signs of weakening consumer […]
US holiday spending on buy now, pay later to hit record due to debt-laden shoppers
By Arriana McLymore NEW YORK (Reuters) – U.S. shoppers are expected to spend a record $18.5 billion using third-party buy now, pay later services for holiday purchases in the last quarter of the year, according to projections by data firm Adobe Analytics released on Wednesday. With many Americans recently carrying more debt, spending on buy […]
FTC announces crackdown on deceptive AI claims, schemes
By Jody Godoy WASHINGTON (Reuters) -The U.S. Federal Trade Commission announced actions against five companies on Wednesday that it said used artificial intelligence in deceptive and unfair ways. Three of the cases suspended operations at businesses that purported to help consumers generate passive income by opening e-commerce storefronts. The FTC also settled with a company […]
Shares of Trump’s media company rebound from all-time low
Shares of former U.S. President Donald Trump’s media company sprang back over 6% on Wednesday, rebounding from all-time lows after restrictions on insider selling expired last week. Two straight days of gains in Trump Media & Technology Group, which is 57% owned by the Republican presidential nominee, have lifted it 12%, bringing its market capitalization […]