Economy & Finance

A recent analysis conducted by the National Highway Traffic Safety Administration (NHTSA) revealed a concerning “critical safety gap” within Tesla’s Autopilot system, contributing to 467 collisions, including 13 fatalities and numerous serious injuries. The investigation, spanning nearly three years, examined 956 crashes where Autopilot was purportedly engaged. The NHTSA’s findings highlighted deficiencies in Autopilot’s design,…

As the mercury rises, so do the gas prices at California pumps. Drivers across the state are feeling the pinch as they watch the numbers climb relentlessly. In a research note, analysts from JPMorgan predicted that if strong consumer demand for gas persists amid the lowest supply of gasoline in three years, average prices could…

In the aftermath of Seattle, Washington’s ambitious $20 minimum wage law for fast food workers, a similar narrative of consumer pushback and market turbulence is emerging. The move, mirroring the city’s past experiences with minimum wage regulations, has sparked concerns over its ramifications for both businesses and consumers. Seattle, known for its progressive stance on…

The state of California has been battling unlivable wages, unprecedented inflation, and $1.6 trillion state and local government debt. This in congruence with a failing housing market and soaring taxes have encouraged wealthy residents to flee the state. In the latest financial l shock, gas prices rise to above $7. The Golden State’s gas average…

Proposed by Arizona Representative Ruben Gallego, a Democrat, a newly introduced bill aims to reform the calculation method for the yearly cost-of-living adjustment (COLA) to Social Security benefits. Named the Boosting Benefits and COLAs Act, the legislation seeks to amend Title II of the Social Security Act. It mandates the Commissioner of Social Security to…

Approximately three million Californians are affected by the state’s minimum wage, which recently rose to $20 per hour. Fast-food establishments, defined by the requirement for customers to order and pay for their food before receiving it, employ around 500,000 workers earning minimum wage. As of April 1, under AB 1228, the minimum wage for fast-food…

The U.S. Federal Trade Commission (FTC) filed a lawsuit on Monday to block the parent companies of luxury handbag brands from merging. They cited concerns about price hikes and reduced competition in the luxury handbag market as reasons for intervention. Tapestry is the parent company of the brands such as Coach, Kate Spade, and Stuart…

California is considering a significant increase in gasoline prices, with a proposed overhaul of fuel regulations potentially adding up to 47 cents per gallon. The move aims to align with the state’s climate goals but raises concerns about the burden on low-income drivers. The state’s low-carbon fuel standard, implemented in 2011, incentivizes the production of…