Investments and Business

Associated media - Linked media Though Apple had not unveiled its car to consumers, the product had for many years been one of Silicon Valley’s worst-kept secrets because it was being tested on public roads. The cancellation is a rare move by Apple, which typically doesn’t shelve such public and high-profile projects. The company has struggled in recent years to find new avenues for growth as its all-important iPhone has saturated the market and people are upgrading their phones less frequently than they used to. Tim Cook, Apple’s chief executive, has publicly hinted that Apple was interested in entering the…

Linked media - Linked media Innovation on wheels Has Apple really crashed the car? The tech giant has killed its electric vehicle project as it pivots to artificial intelligence, prompting many observers to declare the venture a major failure for the company. Here’s a contrarian thought: That critique misses a wider point about how Apple innovates, because the company has used the project to power a whole ecosystem of products and services that have been unmitigated successes. Apple invested billions to build a self-driving car. Reports emerged about the secret effort, code-named Project Titan, in 2014, and the company has…

In a top-floor atrium in downtown San Francisco on Thursday evening, tech workers from Google, Slack, X and Mozilla mingled next to a pair of cardboard cutouts of Timothée Chalamet and Zendaya.Dustin Moskovitz, a Facebook founder, chatted as others sipped from cannily named cocktails like the Fremen Mirage (gin, coconut Campari, sweet vermouth) and the Arrakis Palms (vanilla pear purée, gin, Fever-Tree tonic). Tim O’Reilly, a tech industry veteran, dropped by. Alex Stamos, the former head of security at Facebook, was also spotted.“Do you think they’ll let me take home one of the freaky sandworm popcorn buckets?” someone in the…

I have covered economics for 11 years now, and in that time, I have come to the realization that I am a statistic. Every time I make a major life choice, I promptly watch it become the thing that everyone is doing that year.I started college in 2009, in the era of all-time-high matriculation rates. When I moved to a big coastal city after graduation, so did a huge crowd of people: It was the age of millennial urbanization. When I lived in a walk-in closet so that I could pay off my student loans (“The yellow paint makes it…

The NewsInflation rates across most economies in Europe continued their descent last month. Consumer prices in the 20 countries that use the euro as their currency rose at an annual rate of 2.6 percent in February, down from 2.8 percent in January, the statistical office of the European Commission reported on Friday.Why It Matters: Interest rates won’t go down until inflation does.The sooner inflation rates drop closer to the European Central Bank’s target of 2 percent, the sooner the bank may be inclined to lower interest rates, which now stand at 4 percent. Christine Lagarde, the bank’s president, has said…

Treasury Secretary Janet L. Yellen said on Tuesday that she had personally urged Prime Minister Benjamin Netanyahu of Israel to increase commercial engagement with the West Bank, contending that doing so was important for the economic welfare of both Israelis and Palestinians.Ms. Yellen’s plea was outlined in a letter that she sent to Mr. Netanyahu on Sunday. It represented her most explicit public expression of concern about the economic consequences of the war between Israel and Hamas. In the letter, Ms. Yellen said, she warned about the consequences of the erosion of basic services in the West Bank and called…

The New Mexico attorney general, who last year sued Meta alleging that it did not protect children from sexual predators and had made false claims about its platforms’ safety, announced Monday that his office would examine how the company’s paid-subscription services attract predators.Attorney General Raúl Torrez said he had formally requested documentation from the social media company about subscriptions on Facebook and Instagram, which are frequently available on children’s accounts run by parents.Instagram does not allow users under 13, but accounts that focus entirely on children are permitted as long as they are managed by an adult. The New York…