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Urgent alert—Costco warns of a new wave of scams that steal bank details and impersonate its official website
News

Urgent alert—Costco warns of a new wave of scams that steal bank details and impersonate its official website

November 7, 2025

Scammers are turning Costco into a hot spot for American consumers. The business, where millions of families shop everyday, is ...

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Economy

It’s official—the IRS will refund thousands of extra dollars in 2026—some will receive up to $3,743 due to retroactive tax changes

November 7, 2025
News

Confirmed—a 10-cent coin sells for over $2 million—the mysterious 1894 dime that drives collectors crazy

November 7, 2025
Technology

No planes or cars—China wants to turn long-distance travel into one-hour journeys with its new generation of bullet trains

November 7, 2025
News

Confirmed—bananas do raise blood sugar, but it depends on their ripeness and what you combine them with

November 7, 2025
Confirmed—Oxford University scientists achieve first “quantum teleportation” of information between processors

Confirmed—Oxford University scientists achieve first “quantum teleportation” of information between processors

November 6, 2025
Confirmed—French geologists discover an inexhaustible source of clean energy that could power the planet for millennia

Confirmed—French geologists discover an inexhaustible source of clean energy that could power the planet for millennia

November 6, 2025
It's official—Washington raises the price of plastic bags to 12 cents starting January 1—and there's no turning back

It’s official—Washington raises the price of plastic bags to 12 cents starting January 1—and there’s no turning back

November 6, 2025

ECONOMY

It's official—the IRS will refund thousands of extra dollars in 2026—some will receive up to $3,743 due to retroactive tax changes
Economy

It’s official—the IRS will refund thousands of extra dollars in 2026—some will receive up to $3,743 due to retroactive tax changes

November 7, 2025
Confirmed—Office Depot will close its High Point store this December after more than three decades in business
News

Confirmed—Office Depot will close its High Point store this December after more than three decades in business

November 6, 2025
It's official—these are the states where retirees do not pay taxes on their pension, Social Security, or retirement savings
Economy

It’s official—these are the states where retirees do not pay taxes on their pension, Social Security, or retirement savings

November 6, 2025
It's official—Capital One will pay $425 million for massive data breach and deceptive banking practices—here's how to find out if you qualify
Economy

It’s official—Capital One will pay $425 million for massive data breach and deceptive banking practices—here’s how to find out if you qualify

November 4, 2025
The IRS confirms that the 30% credit for energy-efficient home improvements expires on December 31, 2025
Economy

The IRS confirms that the 30% credit for energy-efficient home improvements expires on December 31, 2025

November 2, 2025
It's official—New York will send inflation rebate checks before the end of the year—up to $400 per taxpayer
Economy

It’s official—New York will send inflation rebate checks before the end of the year—up to $400 per taxpayer

October 31, 2025

MOBILITY

No planes or cars—China wants to turn long-distance travel into one-hour journeys with its new generation of bullet trains
Technology

No planes or cars—China wants to turn long-distance travel into one-hour journeys with its new generation of bullet trains

November 7, 2025
It's official—Toyota orders urgent recall of over 54,000 2025 Sienna Hybrids due to rear seat defect
Mobility

It’s official—Toyota orders urgent recall of over 54,000 2025 Sienna Hybrids due to rear seat defect

October 28, 2025
Goodbye to peace of mind behind the wheel—more than 170,000 Nissan and Chevrolet vehicles affected by a dangerous fault
Mobility

Goodbye to peace of mind behind the wheel—more than 170,000 Nissan and Chevrolet vehicles affected by a dangerous fault

October 27, 2025
Goodbye to DMV lines—North Carolina will allow driving with expired licenses due to system collapse
Mobility

Goodbye to DMV lines—North Carolina will allow driving with expired licenses due to system collapse

October 25, 2025
California government makes historic decision—fines for autonomous vehicle violations will go to companies
Mobility

California government makes historic decision—fines for autonomous vehicle violations will go to companies

October 22, 2025
General Motors (GM) promised a fast ride into the future with electric vehicles (EV). Instead, it’s hitting the brakes—and paying dearly. The company says it will take a $1.6 billion charge in the third quarter of 2025 after scaling back its EV plan. That decision lands in a market where demand is cooling and policy winds have shifted. GM, based in Detroit, has the broadest EV lineup in the United States and holds a 13.8% market share, second to Tesla’s 43.1%. Yet the payoff hasn’t matched the investment. The U.S. auto industry is still finding its EV footing, and rivals like Ford Motor are facing similar pain. Analysts from CFRA Research and Bank of America, including Garrett Nelson and John Murphy, see a tougher road ahead. Politics matter here, too: the $7,500 tax credit that encouraged buyers under President Joe Biden was later scrapped by the administration of Donald Trump, changing the math for consumers and carmakers alike. Add tariffs to the mix, and the picture gets even more complicated. The headline? An ambitious strategy met a smaller-than-expected market—and the bill has arrived. What’s in the $1.6 Billion? (The Mechanics Behind the Hit) GM’s filing lays out the breakdown. The company recorded “non-cash impairment and other charges of $1.2 billion as a result of adjustments to our EV capacity,” while another $400 million will be cash charges tied to canceling contracts and settling commercial agreements linked to EV investments. In plain terms, GM built up for a level of EV demand that hasn’t materialized and now has to resize factories, supplier deals, and timelines. Why now? The market is smaller than expected, and the policy tailwinds that once supported rapid adoption have slowed. In October 2021, GM outlined a $35 billion budget for EV and autonomous technology by 2025, then scaled back. The company also explicitly acknowledged it now expects “adoption rates of EVs to slow,” citing market and policy changes, including the end of the $7,500 tax credit. That shift matters: incentives lower prices, and without them, buyers hesitate—especially when charging access, resale values, and battery costs feel uncertain. Outside voices agree the charge wasn’t a shock. “The charge doesn’t come as a surprise given recent market developments and the fact GM had made probably the most aggressive EV push of any traditional automaker,” said Garrett Nelson of CFRA Research. It’s a reminder that going first can be expensive when the curve bends. A Wider Squeeze: Competitors, Tariffs, and Caution Lights GM isn’t alone. Ford Motor also booked a $1.9 billion charge tied to its EV business. Analysts warn more could follow as the industry recalibrates to slower demand and more cautious investment. As John Murphy of Bank of America put it in June, “I think we’re going to see multibillion-dollar write-downs flooding the headlines for the next few years.” That’s not about failure so much as course correction: the U.S. auto industry invested for a boom and encountered a stepwise shift instead. There’s also the tariff factor. GM already took a $1.1 billion hit in the second quarter of 2025, which the company linked primarily to tariffs imposed by President Donald Trump. Tariffs raise costs somewhere in the chain—materials, components, or finished vehicles—and those dollars have to come from margins or consumer prices. In an EV market sensitive to every thousand dollars on the window sticker, that pressure bites. Meanwhile, Tesla continues to set the pace with scale and brand power, holding 43.1% market share. GM’s 13.8% share and widest range of EV models show commitment, but share alone doesn’t pay the bills. If volumes stall or incentives fade, high fixed costs can turn quickly into write-downs, especially when production capacity exceeds demand. What This Means for GM’s Next Moves (And How to Read the Signals) So where does GM go from here? The near-term playbook looks pragmatic: align capacity to demand, trim underperforming commitments, and preserve flexibility. The $1.6 billion charge, while painful, clears the deck for a slower rollout that better matches buyer interest. It also signals to suppliers and investors that plans will follow the market, not the other way around. Crucially, the company’s position remains strategically relevant. GM still offers the broadest EV lineup—a strength if and when demand re-accelerates. Detroit’s engineering base and manufacturing scale can pivot as conditions change. But expectations have to reset. Incentive-driven surges are not a stable foundation, and tariffs can shift costs in ways companies can’t fully control. For shoppers and observers, one message stands out: timing matters. Early bets are bold, but adoption curves are uneven. That’s normal in big technology transitions. The EV story is not a straight line; it’s a staircase. When one step is taller than expected, even giants stumble. Conclusion: A Costly Reset, Not the Endgame GM’s EV recalibration reads like a reality check, not a retreat. The company took a $1.6 billion charge to right-size its plans after demand softened and the $7,500 tax credit disappeared, compounding earlier tariff costs. The context is industrywide: Ford Motor recorded its own $1.9 billion charge, and analysts such as Garrett Nelson (CFRA Research) and John Murphy (Bank of America) expect more write-downs as the market sorts itself out. The lesson for the U.S. auto industry is straightforward: scale and incentives helped launch the EV era, but sustainable growth depends on steady demand, predictable policy, and careful cost control. GM still has assets that matter—brand, breadth, and manufacturing muscle—yet the path forward will likely be measured rather than meteoric. In that light, the charge is a strategic reset: clearing past assumptions, matching factory output to real orders, and preserving the option to accelerate when buyers are truly ready.
Mobility

Goodbye to the electric dream—General Motors sinks after the withdrawal of the $7,500 incentive for EV buyers

October 21, 2025

SCIENCE

Confirmed—Oxford University scientists achieve first “quantum teleportation” of information between processors
Science

Confirmed—Oxford University scientists achieve first “quantum teleportation” of information between processors

November 6, 2025
Confirmed—French geologists discover an inexhaustible source of clean energy that could power the planet for millennia
Science

Confirmed—French geologists discover an inexhaustible source of clean energy that could power the planet for millennia

November 6, 2025
Goodbye to solar panels—the new Hy-5 produces clean hydrogen at home and will arrive in 2026
Science

Goodbye to solar panels—the new Hy-5 produces clean hydrogen at home and will arrive in 2026

November 5, 2025
Confirmed—ice is not inert; it can accelerate chemical reactions more intensely than water and transform entire ecosystems on the planet
Science

Confirmed—ice is not inert; it can accelerate chemical reactions more intensely than water and transform entire ecosystems on the planet

November 5, 2025
NASA confirms it—a new “quasi-moon” of Earth has been discovered—an asteroid that will travel with us until 2083
Science

NASA confirms it—a new “quasi-moon” of Earth has been discovered—an asteroid that will travel with us until 2083

November 4, 2025
Confirmed—The secret glow at the center of the Milky Way could be the first evidence of dark matter
Science

Confirmed—The secret glow at the center of the Milky Way could be the first evidence of dark matter

November 1, 2025

TECHNOLOGY

No planes or cars—China wants to turn long-distance travel into one-hour journeys with its new generation of bullet trains
Technology

No planes or cars—China wants to turn long-distance travel into one-hour journeys with its new generation of bullet trains

November 7, 2025
Goodbye to solar panels—the new Hy-5 produces clean hydrogen at home and will arrive in 2026
Science

Goodbye to solar panels—the new Hy-5 produces clean hydrogen at home and will arrive in 2026

November 5, 2025
The impressive robot “Charlotte” that builds a 198 m² house in just 24 hours using sand and recycled glass—this is how it works
Technology

The impressive robot “Charlotte” that builds a 198 m² house in just 24 hours using sand and recycled glass—this is how it works

November 5, 2025
Confirmed—a study reveals that ChatGPT and AI do not reduce working hours, but rather make people work more
Technology

Confirmed—a study reveals that ChatGPT and AI do not reduce working hours, but rather make people work more

November 1, 2025
Confirmed—SpaceX deactivates more than 2,500 Starlink antennas used by digital mafias in Myanmar
Technology

Confirmed—SpaceX deactivates more than 2,500 Starlink antennas used by digital mafias in Myanmar

November 1, 2025
Goodbye to durable washing machines—manufacturers make them impossible to repair in order to sell more, according to a veteran technician
Technology

Goodbye to durable washing machines—manufacturers make them impossible to repair in order to sell more, according to a veteran technician

October 30, 2025

NEWS

Urgent alert—Costco warns of a new wave of scams that steal bank details and impersonate its official website
News

Urgent alert—Costco warns of a new wave of scams that steal bank details and impersonate its official website

November 7, 2025
Confirmed—a 10-cent coin sells for over $2 million—the mysterious 1894 dime that drives collectors crazy
News

Confirmed—a 10-cent coin sells for over $2 million—the mysterious 1894 dime that drives collectors crazy

November 7, 2025
Confirmed—bananas do raise blood sugar, but it depends on their ripeness and what you combine them with
News

Confirmed—bananas do raise blood sugar, but it depends on their ripeness and what you combine them with

November 7, 2025
Confirmed—Office Depot will close its High Point store this December after more than three decades in business
News

Confirmed—Office Depot will close its High Point store this December after more than three decades in business

November 6, 2025
Goodbye to flat fines—Maryland completely changes traffic penalties with its new graduated speed law
News

Goodbye to flat fines—Maryland completely changes traffic penalties with its new graduated speed law

November 3, 2025
It's official—Missouri consumers will be able to recover some of the money they overpaid in taxes on online purchases from Saatva
News

It’s official—Missouri consumers will be able to recover some of the money they overpaid in taxes on online purchases from Saatva

November 3, 2025
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