The U.S. Federal Communications Commission (FCC) has added foreign-made advanced robotic devices to its Covered List, effectively blocking many imported robots from being sold in the country. The move includes products such as robot vacuums from brands like Roborock, Ecovacs, Dreame, and Samsung, as well as humanoid and robotic systems. The FCC said the devices are restricted due to national security concerns and will no … Continue reading The FCC bans all robot vacuums made outside the U.S.

ExxonMobil and Chevron reported major profit gains as the Middle East conflict disrupted energy supplies and boosted oil company earnings. ExxonMobil’s second-quarter profits more than doubled to $14.5 billion, while Chevron earned $12.1 billion, driven by higher energy prices and supply constraints. Despite strong company results, gasoline prices remain above $4 per gallon, creating political challenges for President Donald Trump ahead of the midterm elections. … Continue reading Oil giants report blowout profits on war, warn high gas prices could persist

Apple shares fell nearly 10% after CEO Tim Cook warned that rising memory costs and supply constraints could pressure the company’s business. Although Apple’s third-quarter earnings and revenue exceeded analyst expectations, the company said higher component costs are making it harder to maintain margins. The memory shortage has already led Apple to raise prices on some Macs and iPads, with potential iPhone price increases expected … Continue reading Apple stock slides nearly 10% as Cook warns of memory shortage impact

Mortgage rates climbed to their highest level in a year, with the average 30-year fixed mortgage rate rising to 6.66% from 6.58% the previous week. The increase came as Treasury yields moved higher due to Middle East tensions and the Federal Reserve’s decision to keep interest rates unchanged. Although housing inventory has improved, economists warned that higher borrowing costs continue to challenge buyers, especially first-time … Continue reading Mortgage rates rise to 1-year high

U.S. economic growth slowed more than expected in the second quarter, with GDP rising 1.5% compared with economists’ forecast of 1.8%. Inflation remained above the Federal Reserve’s 2% target, with annual PCE inflation at 3.7% and core inflation at 3.3%. The mixed data created uncertainty for the Fed as officials weigh whether to adjust interest rates while inflation pressures persist. The central bank recently voted … Continue reading U.S. economy slowed to 1.5% growth rate in Q2

Microsoft shares surged after strong quarterly earnings showed better-than-expected revenue growth and rapid adoption of its AI-powered Copilot tools. The company’s Azure cloud business grew 43%, boosting investor confidence that its major artificial intelligence investments are beginning to pay off. Meta, however, saw its stock fall after missing earnings expectations, lowering revenue guidance, and reporting a sharp decline in free cash flow due to heavy … Continue reading Meta sinks 8%, continuing record losing streak, while Microsoft jumps 15%