Business

US economic growth upgraded to 3 percent rate in Q2

Inflation as measured by the Fed's preferred PCE index decelerated sharply to a 0.3% gain in the second quarter down from a 2.2% increase in the first quarter. It is not unusual for the US economy to see a "spring bounce", where growth picks up sharply after the winter months as people head to the store or take expensive vacations.

Business

Hurricane Harvey Brings Higher Gas Prices

IL had the fourth-largest weekly increase in gas prices at 6 cents. "So for the next several weeks, the word is disruption and it will mean higher prices at the pumps for all Canadians". Locally, AAA Mid-Atlantic confirmed that Harvey's impact on gs prices was starting to become evident, and the auto club anticipated that a spike would stretch, at minimum, into the holiday weekend.

Business

Benchmark-Kalanick Uber board suit sent to arbitration

Khosrowshahi said Uber needed to stabilise itself but also take what he called "big shots". The new boss will also have to deal with a divided board, a lack of senior executives and legal battle with Google over claims Uber is using stolen driverless technology.

Business

Whole Foods just got a lot more affordable thanks to Amazon

At a Whole Foods in Brooklyn, 2 pounds of Atlantic salmon fillets were about $2 cheaper at $19.98 and a 1-pound bag of brown rice was selling for 20 cents less at $2.49, according to labels Amazon and Whole Foods affixed to products on Monday to advertise the shift.

Business

SpaceX Head Elon Musk Releases Epic Footage of Hyperloop Pod Run

Incidentally, Musk's photo of the Model S inside The Boring Company tunnel was shared on the same day WARR won SpaceX's second Hyperloop competition after their pod reached a top speed of 202 miles per hour (324 km/h). (3,100 kg) pods holding up to 28 people each, as he wrote in a white paper introducing the concept in 2014. Two dozen teams of students from around the globe competed in Hawthorne on Sunday in hopes of providing a critical component for the potentially revolutionary form of ...

Business

Uber CEO pick struggled over decision, Expedia chairman says

Uber's board voted on the appointment on Sunday; Recode was the first news outlet to report the news. Khosrowshahi - who has worked with Barry Diller and IAC for almost 20 years - will have the tall order of rebuilding Uber's reputation after a tumultuous year in which the company's business practices and culture have come under fire.


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