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Record thunderstorm losses and deadly earthquakes cost $250 billion in damages in 2023, report says
Cars stranded in a flash flood caused by a monsoonal thunderstorm on Sept. 1, 2023, in Thermal, California. David Mcnew | Getty Images News | Getty Images Destructive thunderstorms in North America and Europe and a series of devastating earthquakes last year cost the world around $250 billion in damages, according to a new report…
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When Software Makes the Decisions: The Growing Role of Algorithmic Authority
Decisions that once required human judgment are increasingly being made—or heavily influenced—by software. From hiring and lending to healthcare and public services, algorithms now play a central role in determining outcomes that affect millions of lives. This shift toward algorithmic authority is not driven by science fiction visions of artificial intelligence, but by practical demands…
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Stocks slid Friday after a slate of earnings beats from big banks fueled concerns that the Federal Reserve will raise interest rates at its next two meetings. Still, the major indices gained for the week. The Dow rose 400 points, or 1.2%. The S&P 500 gained 0.8% and the Nasdaq Composite advanced 0.3%. JPMorgan Chase…
Shipping boss says ongoing Red Sea disruption could have ‘significant consequences’ for global growth
Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday. Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial…
