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Delta waves are brutal but relatively short; U.S. daily Covid cases should peak by the end of August.

The interruption to the economic recovery should not last beyond September; behavior will lag the data.

Home price gains are slowing sharply as inventory rises and demand returns to pre-Covid levels.

Brainy and ambitious, Jack Ma built one of China’s largest business empires from scratch, creating billions of dollars in wealth and introducing digital innovations to hundreds of millions of people. He wasn’t China’s Jeff Bezos, Elon Musk or Bill Gates. He was their peer.

Now he has disappeared almost entirely from public view, in part because of the same go-for-broke drive he shared with the other 21st century tech titans.

Technological disruption, once seen as a useful prod for China to catch up with the West, has been recast as a threat to the ruling Communist Party. As a result, Xi Jinping, China’s most powerful leader in decades, is rewriting the rules of business for the world’s second-largest economy.

Mr. Ma failed to keep pace with Beijing’s shifting views and lost an appreciation for the risks of falling out of step, according to people who know him. He tuned out warnings for years, they said. He behaved too much like an American...

WASHINGTON, Aug 21 (Reuters) - General Motors Co (GM.N) said on Friday it would take a hit of $1 billion to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack - a blow for the largest U.S. automaker as it seeks to ramp up EV sales.

The Detroit company also said it would indefinitely halt sales of the EVs due to the issue and will seek reimbursement from battery supplier LG. The latest recall covers 73,000 vehicles from model years 2019 through 2022.

“The reserves and ratio of cost to the recall will be decided depending on the result of the joint investigation looking into the root cause, currently being held by GM, LG Electronics and LG Energy Solution,” LG said in a statement, referring to its subsidiaries.

LG added that it is actively working with its client and partners to ensure that the recall measures are carried out smoothly.

GM shares were down 2.2% in after-hours trade after...

Brainy and ambitious, Jack Ma built one of China’s largest business empires from scratch, creating billions of dollars in wealth and introducing digital innovations to hundreds of millions of people. He wasn’t China’s Jeff Bezos, Elon Musk or Bill Gates. He was their peer.

Now he has disappeared almost entirely from public view, in part because of the same go-for-broke drive he shared with the other 21st century tech titans.

Technological disruption, once seen as a useful prod for China to catch up with the West, has been recast as a threat to the ruling Communist Party. As a result, Xi Jinping, China’s most powerful leader in decades, is rewriting the rules of business for the world’s second-largest economy.

Mr. Ma failed to keep pace with Beijing’s shifting views and lost an appreciation for the risks of falling out of step, according to people who know him. He tuned out warnings for years, they said. He behaved too much like an American...

Frackers in America’s largest oil field are letting massive amounts of natural gas spill into the atmosphere. Scientists and activists are trying to find the leaks and get them plugged before they cook the planet further.

Aug 21 (Reuters) - U.S. Treasury Secretary Janet Yellen has told senior White House advisers she backs reappointing Jerome Powell as U.S. Federal Reserve Chair, whose term expires in February, a Bloomberg News reporter wrote on Twitter.

President Joe Biden has not made a decision and will likely weigh in around Labor Day in early September, the reporter added in the tweet.

A spokesperson for the U.S. Treasury Department declined to comment. No comment was immediately available from the White House.

Powell was elevated to Fed chair by President Donald Trump in 2018, replacing then Fed chair Yellen.

Republican Senator Steve Daines, a member of the Senate Banking Committee, urged Biden in a letter last week to keep Powell at the helm of the Federal Reserve for another four years to build confidence in an improving economy. read more

Renominating Powell "would send a strong signal to households, businesses, and consumers that the head of the Federal...