Michelle Davenport Business Editor Monterey Car Week auctions are projected to reach a record-breaking $500 million this year, driven by a generational shift toward modern supercars. According to industry data, younger collectors are bypassing traditional 1950s and 1960s classics for late-model performance machines, sparking massive price surges and heightened market volatility. The classic car market is hurtling toward a … Read more
Following a drop in inflation, early projected estimates for the impending 2027 Cost of Living Adjustment (COLA) for Social Security recipients have declined slightly, according to new estimates based on government data. The latest data from the Bureau of Labor Statistics indicates that the consumer price index increased by 0.1 percent, while the annual inflation … Read more
Americans’ credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter. Credit Card Balances Near Record Highs as New York Fed Reports Growth Credit card balances are just shy of the all-time high set in the fourth quarter of last year, according to quarterly data released by the Federal Reserve Bank … Read more
Federal workplace safety inspectors detailed severe monitoring and ventilation failures on Tuesday following a January hydrogen sulfide gas leak at Woodland Pulp in Baileyville, Maine, that caused the preventable deaths of two young employees and exposed ten other workers to toxic fumes. Federal safety investigators scrutinized operations at the Woodland Pulp mill in Baileyville on … Read more
Nearly 30,000 pounds of raw beef imported from Argentina were recalled across Florida and Texas after entering the United States without a mandatory federal reinspection. Distributed by Corte Argentino USA LLC, the products face a Class I designation from the Department of Agriculture due to serious health hazards. Federal food safety regulators flagged the shipment … Read more
Nvidia has partnered with six Wall Street giants, including Goldman Sachs and KKR, to raise $500 billion for artificial intelligence infrastructure. Chief executive Jensen Huang announced the financing coalition to independently underwrite compute hardware, while market analysts raised questions about capital returns and circular financing risks. Wall Street Giants Commit Half a Trillion to Compute … Read more
Berkshire Hathaway ended June with $364.7 billion in cash and Treasury bills, marking a 4% decrease from three months earlier and the first quarterly drop in the conglomerate’s cash holdings in four years, according to WSJ via the dailyhodl.com. The reduction in the massive cash stockpile was driven by strategic deployment, including a $10 billion … Read more
Thousands of Verizon customers across Southern California experienced a widespread service outage on August 9, 2026, after vandals deliberately severed multiple fiber-optic cables. The disruption affected mobile and internet connectivity, including emergency services, before engineers restored the network by that evening. Authorities and the carrier are currently investigating the criminal sabotage. Infrastructure Sabotage in Southern … Read more
Billionaires Bill Gates and Warren Buffett are backing a next-generation nuclear reactor in Kemmerer, Wyoming, aiming to generate electricity by 2030. Supported by $2 billion in federal assistance, the Natrium project highlights a broader federal push to power data centers and secure U.S. energy independence amid shifting regional economics. For generations, the small town of … Read more
Portland City Council voted 10-0 to uphold the Lloyd Center Central City Master Plan on Wednesday, clearing the way for the demolition of the 65-year-old mall and its historic ice rink. While property owners plan to close the site permanently in August, displaced skaters and community members are organizing to secure a new permanent rink. … Read more