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Ticker: Fed unveils members of new task forces

Venture capitalist Marc Andreessen, economist Raj Chetty and former Bank of England governor Mervyn King are among a slate of names released by the Federal Reserve Thursday that will help develop recommended changes to the central bank’s operations. Warsh called for “regime change” at the Fed last year while he was under consideration by the Trump administration to replace former chair Jerome Powell. Yet it’s not yet clear how transformative the task forces will be. News outlets urge judge to sanction OpenAI The New York Times, the Daily News and other media outlets are ...

Fed officials deeply divided over future of US inflation

WASHINGTON — The Federal Reserve’s rate-setting committee is split over whether inflation is likely to stay elevated or whether it will cool once the Iran war winds down, according to minutes released Wednesday. In the first set of minutes released under new chair Kevin Warsh, “many” ...

Meta plans for data center in Canada

EDMONTON, Alberta — Facebook and Instagram parent Meta said Wednesday it will invest more than US$9.1 billion to build its first artificial intelligence data center in Canada and its largest outside the United States. The facility will be built in Sturgeon County, Alberta, and powered by a natural gas-fired plant being developed by a consortium that includes Calgary-based Pembina Pipeline Ltd. Technology and Innovation Minister Nate Glubish called the project “a big deal for Alberta,” saying the province had created a regulatory framework to attract data center ...

Briefcase: CamTran announces new collection platform

JOHNSTOWN The Cambria County Transit Authority, in partnership with Modeshift, announced the launch of a new account-based fare collection platform across its transit network. The modernized system introduces cashless fare payment options, including mobile ticketing and reloadable smart cards, alongside real-time account management tools to improve convenience, accessibility and operational efficiency for riders throughout Cambria County. The new CamTran PAY platform replaces legacy fare payment methods with digital tools that simplify fare purchasing, account management and boarding. ...

Ticker: Outlook for SpaceX remains mixed

Wall Street banks have high hopes for SpaceX but at the moment shares of Elon Musk’s rocket market appear to be earthbound. Many of the investment firms that underwrote SpaceX’s initial public offering issued their first research notes about the company Tuesday, and almost all recommended that investors buy the stock and forecast it to trade above $200 in the next 12 to 18 months. But after topping $200 in its first week of trading, the stock is trading around $150 per share, roughly where it opened on June 12, its IPO day. AI stocks sink and drag markets lower worldwide The ...

Airlines redesign journeys around high-paying travelers

They may arrive at the same destination, but two passengers on the same flight can have strikingly different travel experiences. One traveler breezes through a priority security lane and heads straight to an invite-only lounge for craft cocktails and a chef-prepared meal before boarding early. A flight attendant offering a glass of champagne and a warm hand towel welcomes the passenger to a spacious seat at the front of the plane. The other traveler stands in a line at every step — security screening, a cafe selling $16 sandwiches, a crowded gate — then boards with one of the final ...