US Politics & Business News
The second quarter earnings season for defense contractors has wrapped up, revealing a broadly strong performance across the sector with a few notable exceptions. RTX (NYSE:RTX), the aerospace and defense giant formerly focused on refrigeration technology, posted revenues of $24.71 billion, up 14.5% year on year, beating analyst expectations by 7.8%. The company also delivered…
For property owners sitting on significant home equity, a home equity line of credit can seem like an attractive way to access needed cash. A HELOC allows homeowners to borrow against the equity in a property, typically up to a set credit limit, repaying only what they use. When a rental property is fully paid…
Diesel fuel prices have surged to record highs, rattling transportation companies that form the backbone of the American economy. Prices for diesel, used to power trucks and trains, reached an all-time high of approximately $6.31 per gallon on Wednesday, according to AAA data. The spike represents a more than 70% increase from a year ago,…
The House has approved a resolution holding billionaire investor and Apollo Global Management (APO) co-founder Leon Black in contempt of Congress. The contempt referral follows Black’s refusal to comply with subpoenas issued by the House Oversight Committee as part of its investigation into Jeffrey Epstein. The House Oversight Committee had previously voted unanimously 41-0 to…
Stephen Colbert has opened up about life after late night television, telling Jimmy Kimmel he has no regrets about stepping away from the format. Colbert appeared on Kimmel’s show and spoke candidly about the toll that covering the daily news cycle had taken on him personally and professionally. He described consuming the daily news as…
A hacker group calling itself stegan0gram physically removed a Flock Safety camera from above a roadway and copied its internal data. The group shared the recovered files with 404 Media, WIRED, and the nonprofit leak archiver Distributed Denial of Secrets, known as DDoSecrets. The data was made public and revealed in new detail how Flock…
SpaceX (NASDAQ: SPCX) shares are climbing sharply Wednesday morning after the company confirmed a firm date for Starship’s most consequential test flight to date. Barron’s reported that SpaceX plans to launch Starship again on September 22, targeting the vehicle’s first attempt to place its upper stage into stable Earth orbit. SpaceX stock is trading at…
International Business Machines (IBM) has secured a landmark $1 billion government contract to construct the first standalone quantum chip foundry on U.S. soil. The agreement comes through the Commerce Department, marking a significant federal commitment to advancing domestic quantum computing infrastructure. The facility, named Anderon, represents a new chapter in American quantum technology development and…
Pratt & Whitney, a unit of RTX (NYSE: RTX), has signed a new production licensing agreement with Hermeus for its F100-PW-229 fighter engine. The agreement grants Hermeus the rights to manufacture the F100-PW-229, one of the most widely deployed engines across U.S. military fighter aircraft fleets. Hermeus operates under a rapid build model, which could…
A bond market selloff has pushed the benchmark 10-year Treasury yield to the verge of 5%, intensifying fears across Wall Street and Washington about rising borrowing costs. The surge in yields is worsening anxiety about the U.S. economy’s ability to absorb higher interest rates on its already swelling national debt. The 10-year Treasury yield jumped…