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Two grim realities are keeping the K-shaped economy alive

The prongs of the K-shaped economy are being propped up by two dreary economic realities: lower earners are getting hit harder by inflation, and left behind by blockbuster stock market gains. Loading audio narration… A new analysis from the Federal Reserve Bank of New York looks at how the US economy slowly morphed into a K-shape where higher earners are thriving, or at least holding steady, and lower earners’ economic fortunes are backsliding. It’s a…

Finance news

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Sam Altman says AI has led to the ‘revenge of the idea guys’

The idea guy’s time has finally come. Loading audio narration… OpenAI CEO Sam Altman, who previously led the famed startup incubator Y Combinator, said that before AI, people used to joke about those who had the next great idea for an amazing startup but lacked the technical expertise to translate…

Business

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Taxpayer advocate warns of July 2026 deadline for COVID-era IRS refunds

The IRS’ taxpayer advocate issued a notice that tens of millions of American taxpayers may be entitled to refunds or reduced penalties and interest due to the postponement of filing deadlines during the COVID-19 emergency declaration. The National Taxpayer Advocate said in a post on Thursday that refunds or abatements…

Markets

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The EV graveyard: All the electric cars axed by automakers this year

Hyundai confirmed to Business Insider that it will stop selling the Korean-built, standard Ioniq 6 in the US.The retro-styled sedan never matched the success of its crossover sibling, the Ioniq 5 (which the company said saw a surprising 33% sales year-over-year increase in February and another 14% increase in March).Hyundai…

Investing

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