Economy - Page 55

Energy Secretary Chris Wright is blasting the International Energy Agency for pushing what he calls “nonsensical” oil demand projections that ignore decades of growth and risk condemning billions of people to energy poverty.

Elon Musk’s ongoing legal cage match with Sam Altman’s OpenAI has taken an interesting turn after the tech titan’s legal team stated that Musk “does not use a computer” in a recent court filing. 

Intel has announced plans to wind down its automotive business, leading to layoffs for most employees in that segment. The embattled tech giant recently announced a massive layoff of factory employees — and isn’t out of the woods yet.

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking, Housing, and Urban Affairs Committee on Wednesday, June 25.

High interest rates are increasingly a drag on the housing market.

Tesla’s new car sales in Europe have declined for the fifth month in a row, as customers increasingly opt for more affordable Chinese electric vehicles, according to data from the European Automobile Manufacturers Association (ACEA). Elon Musk’s EV giant suffered a 27.9 percent drop in May on a year-over-year basis.

California’s gas taxes will rise on July 1, and new “low carbon” fuel standards will take effect, pushing gas prices up by as much as 65 cents per gallon or more, forcing drivers to pay an estimated $6 per gallon.

U.S. Secretary of Energy Chris Wright is slamming the Biden administration for what he calls an “absolutely infuriating” last-minute spending spree, revealing that more than $90 billion in green energy loans were pushed through by the Department of Energy’s Loan Programs Office in the weeks between President Donald Trump’s 2024 reelection and his January inauguration.

A leftist group is calling for a boycott of fast food chain McDonald’s after saying it would end some of its diversity, equity, and inclusion (DEI) initiatives.

The Fed chair once warned against using speculative forecasts to drive policy. Now he’s doing exactly that.

Mike Sommers, president and CEO of the American Petroleum Institute, said at a policy event hosted by Breitbart News that durable, bipartisan permitting reform will help cement America’s energy dominance.

Shipping rates on routes that could be affected by the Israel-Iran conflict skyrocketed by up to 76 percent in June.

ICE agents are shutting down car wash companies in Los Angeles that profit from the city’s huge population of desperate migrants.

The FTC has approved Omnicom Group’s acquisition of IPG after the advertising giants agreed not to collude on politically motivated ad boycotts to censor conservative viewpoints.

Fed chair tells lawmakers inflation could rise again due to Trump’s tariffs, keeping rate cuts on hold for now.

The “big, beautiful bill” is “transformative in our trajectory on energy,” Energy Secretary Chris Wright said during a policy discussion with Breitbart News’s Washington Bureau Chief Matthew Boyle on Tuesday.

Energy Secretary Chris Wright on Tuesday walked through what the U.S. has done to become “energy dominant” under the leadership of President Donald Trump, explaining that the price of oil is a “great testament” to this agenda.

A survey of 246 “cinema owners and film professionals affiliated with exhibitors” found that more than half believe the “traditional cinema experience” will be dead as a viable business model within 20 years.

A Democratic socialist running for mayor of New York City wants to create city-run grocery stores, but his idea is not going over well with locals, according to a City Journal report published Tuesday.

The National Highway Traffic Safety Administration (NHTSA) has contacted Tesla following the circulation of videos on social media depicting the company’s robotaxis driving erratically on public roads in Austin, Texas.

AI company Anthropic has found that top artificial intelligence models from industry leaders like OpenAI, Elon Musk’s xAI, and Google are prone to employing unethical means, including blackmail, when their goals are under threat.

Breitbart News hosts Energy Secretary Chris Wright to discuss President Donald Trump’s plan to unleash America’s energy dominance on Tuesday, June 24.

Oil prices sunk more than three percent early Tuesday morning.

For much of this year, the Federal Reserve has held interest rates steady after a series of cuts in late 2024. But that fragile consensus may be breaking.

Threats to commercial vessels around the Arabian Peninsula are growing after U.S. airstrikes against Iran’s nuclear weapons program.

Ford has issued a recall for 197,432 Mustang Mach-E EVs from the 2021 through 2025 model years to address a potential door lock malfunction that could trap rear-seat passengers in the vehicle — a particularly dangerous situation for children.

Elon Musk has rolled out his Tesla robotaxi service in Austin, Texas, marking the EV giant’s entry into the growing autonomous ride-hailing market. Tesla’s driverless cabs are currently charging a flat fee of $4.20, Musk’s latest in a long line of drug references.

Tomorrow, New York City will vote to decide who will be the Democrat nominee for mayor, and the latest polling shows Queens Assemblyman Zohran Mamdani, a full-blown, self-admitted socialist, in the lead due to the city’s ranked-choice voting system.

Bowman’s comments come just days after Fed Governor Christopher Waller also said he could support a July cut. T

Mark Zuckerberg’s comments on the Joe Rogan Experience podcast and his multiple olive branches to Donald Trump and the MAGA movement have reportedly left Meta employees horrified and disgruntled.

Oil prices fell around one percent Monday morning.

Despite the geopolitical shock, the modest scale of the rally suggested traders were not yet pricing in a prolonged disruption to global supply—or doubted that Iran would escalate in a way that threatens oil flows.

FedEx founder Fred Smith, who was also a U.S. Marine Corps veteran, died Saturday at the age of 80.

Rep. Ashley Hinson (R-IA) praised President Donald Trump’s big, beautiful bill and predicted Congress will send it to his desk soon in an appearance on Breitbart News Saturday on SiriusXM.

The big, beautiful bill is the “fulfillment of the President’s agenda,” Senate Majority Leader John Thune (R-SD) said during an appearance on Breitbart News Saturday, explaining that the July 4 goal is still very much in play for the Senate.

Michael Sheehan, 47, perished in a horrific manner when his Tesla Cybertruck burst into flames after a crash, with the fire burning so intensely that his skeletal system disintegrated, according to a gut-wrenching lawsuit filed by his widow and parents against Elon Musk’s EV giant.