Waymo’s Self-Driving Future Looks Real Now That the Hype Is Fading

January 21st, 2021|

(Bloomberg Businessweek) -- Last October, Waymo announced that anybody who hailed one of its rides in the suburbs southeast of Phoenix would be picked up by a truly driverless vehicle—no human sitting behind the wheel. It was a major milestone for Alphabet Inc.’s self-driving-car unit, the culmination of more than a decade of work begun as part of Google’s

Lagarde Signals New Recession Even as ECB Holds Stimulus Steady

January 21st, 2021|

(Bloomberg) -- European Central Bank President Christine Lagarde signaled that the euro-zoneeconomy is headed for a double-dip recession, while insisting that the current level of monetary stimulus is enough for now. The ECB chief said output probably shrank at the end of 2020, and “a decline in the fourth quarter will travel into the first quarter.” Economists are increasingly

U.S. Housing Starts Rose to Fastest Pace Since 2006 in December

January 21st, 2021|

(Bloomberg) -- U.S. home construction starts rose for a fourth-straight month in December to the best pace since late 2006 as builders responded to the robust demand for single-family housing. Residential starts climbed by 5.8% to a 1.67 million annualized rate, according to government data released Thursday. That topped all estimates in a Bloomberg survey of

Jamie Dimon says JPMorgan Chase should absolutely be ‘scared s—less’ about fintech threat

January 15th, 2021|

JPMorgan Chase CEO Jamie Dimon has watched while a new breed of fintech players, led by PayPal, Square and tech giants around the world have exponentially grown users and market value. His message to the management team of his $3.4 trillion banking goliath: Be frightened. “Absolutely, we should be scared s---less about that,” Dimon said Friday in a conference call with

Here Are the Major Pieces of Biden’s $1.9 Trillion Stimulus Plan

January 14th, 2021|

(Bloomberg) -- President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic. The plan includes a wave of new spending, including more direct payments to households, an expansion of jobless benefits, more money for state and local governments and an expansion of vaccinations and