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IMF expects world economy to grow a sluggish 3% this year, weighed down by Iran war but helped by AI19:36 The International Monetary Fund on Wednesday modestly downgraded its outlook for the world economy this year, citing the energy shock caused by the Iran war Wall Street banks are sky-high about SpaceX, but investors remain cautious19:36 Wall Street banks have high hopes for SpaceX but at the moment shares of Elon Musk’s rocket market appear to be earthbound Ex-civil rights agency commissioner fired by Trump drops lawsuit in wake of Supreme Court ruling19:36 A former Democratic commissioner of one of the country’s top civil rights agencies has dropped a lawsuit challenging her dismissal by President Donald Trump Average 30-year US mortgage rate rises to 6.49%, pushing up homebuyers' borrowing costs19:04 The average long-term U.S. mortgage rate drew closer this week to 6.5%, pushing up borrowing costs for prospective homebuyers New York sues 3M, DuPont and other companies over so-called forever chemicals19:04 New York’s attorney general is suing several large chemical and agricultural companies, alleging they knowingly sold harmful so-called forever chemicals used in cosmetics, non-stick cookware and other products US home prices hit an all-time high as sales slow and mortgage rates rise16:24 Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to prospective homebuyers’ affordability challenges US jobless claims dip modestly to 215,000 last week15:19 The number of Americans filing for unemployment benefits dipped slightly last week as layoffs in the U.S. remain historically low China’s passenger car exports are up 80% in June as EV demand grows13:12 China has reported its exports of passenger cars surged 80% in June from a year earlier, while domestic sales sank 26%, according to an industry group World shares are mixed and oil prices slip after Iran and US launch fresh attacks12:40 World shares are mixed and oil prices have slipped after conflict escalated in the Middle East, with Iran and the U.S. launching fresh attacks Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze12:40 Ukrainian drones have hit more Russian oil facilities and set two oil tankers ablaze in the Sea of Azov, a day after U.S. President Donald Trump pledged to grant Ukraine a license to manufacture the Patriot air defense systems Meta plans billions for first AI data center in Canada, largest outside the US7:21 Facebook and Instagram parent Meta said Wednesday it will invest more than 13 billion Canadian dollars ($9.1 billion) to build its first artificial intelligence data center in Canada and its largest outside the United States Police detain 2 teens after a joy ride in a Waymo in Northern California3:06 Police have detained two 15-year-olds who they say were drinking and shooting water beads while riding a self-driving Waymo around town How major US stock indexes fared Wednesday 7/8/202623:22 Oil prices rose, and stock markets dropped in shaky trading worldwide after President Donald Trump raised doubts about the temporary truce in the war with Iran |