Inside an extinct Nevada volcano, geologists have found what may be the world’s largest lithium deposit, which they estimate to be between 20 and 40 million tons.
Category: 19 September 2023
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DRIVERS DROPPING AUTO INSURANCE
In this year’s second half, the share of U.S. households with at least one uninsured vehicle rose from 5.2 percent to 5.7 percent, data service J.D. Power reported.
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MORTGAGE RATES UP. WHAT’S NEXT?
The U.S. Federal Reserve’s high interest rates, abetted by inflation, are keeping U.S. mortgage interest rates above 7 percent.
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U.S. CONSUMERS CONTINUE TO PILE UP HUGE CREDIT CARD DEBTS
U.S. households added $43 billion to their credit cards in this year’s second quarter, according to WalletHub.
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RETAIL SALES ROSE IN AUGUST THANKS TO RISING OIL PRICES
Retail sales ticked up 0.6 percent in August from July as consumers were forced to pay more for heating oil, gasoline, and diesel fuel. Wholesale prices for gasoline leaped up 20 percent, year on year, jet fuel 23.6 percent, and diesel 41.1 percent.
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IS INFLATION HEADING BACK HIGHER?
In August, U.S. inflation moved up to 3.7 percent after registering 3.2 percent in July. It was the first month-to-month increase in a year.
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U.S. CONSUMER INFLATION, WHOLESALE PRICES SPEED UP IN AUGUST
U.S. inflation rose from July’s 3.2 percent annually to 3.7 percent in August, driven higher by rising gasoline prices, the U.S. labor department reported. Analysts had expected the figure to rise to 3.6 percent.
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GOOGLE ENTERS AI CLOUD CONTEST
Google has finally begun selling PALM-2, its most powerful AI technology, to the general public in an attempt to make up for time lost to Amazon and Microsoft, which have been offering similar tools broadly for months.
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IRS ENLISTS AI TO TRACK DOWN TAX CHEATS
The IRS is using some of its $80-million windfall from last year’s Inflation Reduction Act to bring AI to bear in tracking down taxes not paid by hedge funds, real estate investors, limited liability partnerships, and wealthy individuals, The New York Times reported.
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PENTAGON PLANS AI-POWERED AUTOMATED FORCE
The U.S. military plans to spend hundreds of millions of dollars to build thousands of AI-enlivened drones, surveillance craft, and other nimble machines that are “small, smart, and cheap,” deputy defense secretary Katherine Hicks revealed in a 6 September speech to a defense industry conference in Virginia.