News

The Russell 2000, a stock index of small companies, has fallen over 18% since its peak in November 2016, and is now teetering on the brink of a bear market, defined as a 20% decline from its recent high. This decline is attributed to a climate of uncertainty created by escalating trade wars and mass federal layoffs, which have made it difficult for small businesses to operate and grow.

U.S. consumer sentiment has plummeted to a more than two-year low, with Americans increasingly pessimistic about the economic climate and fearing rejection for credit applications. This decline is attributed to uncertainty surrounding President Trump's economic policies and concerns about the impact of ongoing trade wars.

Citigroup is reducing its reliance on IT contractors by 30% and expanding its internal IT staff to enhance internal technology capabilities, address regulatory concerns, and improve operational efficiency. This strategic shift aims to bolster data security, risk management, and compliance with evolving regulations.

Apple briefly considered making the iPhone 17 Air the first portless iPhone, but the plans have been shelved due to challenges associated with a completely wireless device. Despite this, the iPhone 17 Air is still expected to be a significant upgrade with a 6.6-inch display, ultra-thin bezels, and a distinctive camera bump.

Grok, Elon Musk's xAI chatbot, has rapidly established itself as a major player in the AI industry, surpassing existing benchmarks in complex reasoning tasks and offering unique features like image generation and a witty personality. However, concerns remain regarding moderation issues and privacy implications.