US gasoline prices fall below $4 for first time since March

US gasoline prices fall below  for first time since March

Gasoline demand has waned in the summer Lower-income households spending less as prices dip US retail price hit a record in June Aug 11 (Reuters) – The average price of US retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest … Read more

Most electric vehicles won’t qualify for federal tax credit

Most electric vehicles won’t qualify for federal tax credit

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s … Read more

The market read the Federal Reserve all wrong

The market read the Federal Reserve all wrong

“We’ve been front-end loading these very large rate increases, and now we’re getting closer to where we need to be,” Fed Chair Jerome Powell told reporters. Of course, Powell said, another “unusually large” increase could be on the table too. But Wall Street looked past that. What came next: Investors cheered Powell’s apparent pivot. The … Read more

Amazon’s connected device cart grows with $1.7 billion deal for Roomba maker

Amazon’s connected device cart grows with .7 billion deal for Roomba maker

Aug 5 (Reuters) – Amazon.com Inc (AMZN.O) will acquire iRobot Corp (IRBT.O), maker of robotic vacuum cleaner Roomba, in an all-cash deal for about $1.7 billion, in the latest push by the world’s largest online retailer to expand its stable of smart home devices. Amazon will pay $61 per share, valuing iRobot at a premium … Read more