Hawaii wildfires caused up to $6 billion in economic losses, Moody’s estimates
Economy

Hawaii wildfires caused up to $6 billion in economic losses, Moody’s estimates

Destroyed homes and cars are shown in Lahaina, Hawaii, Aug. 13, 2023.Rick Bowmer | APThe catastrophic wildfires in Maui, Hawaii, have caused between $4 billion and $6 billion in economic losses, according to an estimate by Moody’s RMS on Tuesday.The estimate looked at property damage and business interruptions across residential, commercial, industrial and infrastructure assets,… […]

UPS workers approve massive new labor deal with big raises
Economy

UPS workers approve massive new labor deal with big raises

Carlos, a UPS worker in Manhattan, delivers packages on his daily rounds on July 24, 2023 in New York City.Spencer Platt | Getty ImagesUPS workers ratified a massive five-year labor deal that includes big wage increases and other improvements to work rules and schedules, the International Brotherhood of Teamsters said Tuesday.The deal passed with 86.3%… […]

China Nvidia rival Cambricon adds to $40 billion rally with 4,000% revenue jump
Economy

China Nvidia rival Cambricon adds to $40 billion rally with 4,000% revenue jump

China is focusing on large language models in the artificial intelligence space. Blackdovfx | Istock | Getty Images Chinese semiconductor firm Cambricon posted record profit in the first half of the year underscoring how local challengers to Nvidia are gaining traction as Beijing looks to boost its domestic industry. Cambricon is among a plethora of […]

SpaceX makes comeback with Starship test launch after fiery setbacks
Economy

SpaceX makes comeback with Starship test launch after fiery setbacks

SpaceX’s Starship rocket lifts off from Starbase, Texas, as seen from South Padre Island on Aug. 26, 2025, for its 10th test flight. Ronaldo Schemidt | Afp | Getty Images SpaceX on Tuesday launched its mammoth Starship rocket, breaking a string of explosive failed attempts earlier this year to deploy its first batch of dummy […]