Germany Suffered Lengthy Recession After All, Revised Data Show
While data available before Wednesday have shown annual contractions for 2023 and 2024, the quarterly profile for gross domestic product in Europe's largest economy hinted at a stop-go pace that never produced two consecutive periods of decline — the traditional definition of a recession.
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Yahoo
21 minutes ago
- Yahoo
Lamborghini's new $380K hybrid supercar redefines luxury tech
Lamborghini's new hybrid supercar, the Temerario, blends electrification with extreme performance — all for just $380,000. Yahoo Finance Senior Reporter Pras Subramanian joins Asking for a Trend to share insights from his interview with Lamborghini president and CEO Stephan Winkelman. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Ultra luxury car maker Lamborghini is out with its new hybrid vehicle with a price tag of $380,000. And our senior Autos reporter Pras Subramanian spoke with the company's president and got to drive the car. Pras, welcome. Yes, yes. The new Lamborghini Tamburario is out, the hybrid supercar. Now, so they've now fully electrified their line with hybrids. You know, Lamborghini was supposed to actually put out an EV pretty soon, but they've sort of had to dial that back a little bit. And, you know, before we got a chance to drive the car, I spoke to CEO Stephan Winkelmann about their EV plans. We've seen a number of companies, including yours, kind of push back the full EV timeline. What's the latest on that? Well, we decided two things after looking into the acceptance curve of battery electric vehicles, which is flattening in comparison to the previous, you know, thoughts of the global automotive industry. And therefore, also for us, it's lowering the expectation in terms of growth rate. So we decided that the follow-up of the Urus PHEV will be again a plug-in hybrid car. And then we postponed our first model a bit to understand when is the right time to come with it. So it still makes some sense for BEV in the luxury world, potentially? Potentially, but we have to see as we said here, we have to come not when the technology is ready, but when the time is ready and when it's going to be successful and when the customers are accepting it. And this is paramount for a company like ours, because we are delivering dreams and not mobility. Yeah, so delivering dreams versus mobility. They're not a mobility company. They're, you know, they're an emotional performance company. So actually, that combined with, you know, the EV story, combined with tariffs, that's been a thing that's been coming up for really expensive cars, you know, how do you handle that? What they've been doing is they've been absorbing a lot of that cost and passing on some of that to their customers. They think it's unfair to pass the whole cost down. So that's part of the sort of business decision there with the company. Then we have the new trade deal, so that's going to help them out. Uh, you know, secondly, I kind of asked about sort of the future of the company and where they kind of see this luxury EV maker, I'm sorry, luxury automaker, where they see themselves. And here's what he had to say. What do you see the next 20 years bring to Lamborghini? Lamborghini is not about volumes, no. It's about how much you earn that you can reinvest in a newest technology for the future. Because the world is more complex, life cycles are shortening, investments are getting higher, technology is evolving faster. So you have to keep up with it and so we have to grow in terms of awareness, image, and to have a solid customer base, which is appreciating our cars also in 20 years from now. And this depends a lot on us if we keep up with the newest technology, but if we continue also to be trendsetters. You know, despite some of these issues with electrification, tariffs, some sort of global uncertainty here with higher rates, things like that, Lamborghini still had first half sales a little bit higher compared to last year, which is more than you can say about a lot of luxury automakers who have been suffering recently. What about the new car? You test drove it. How did it feel? Uh, the new car is simply, I guess, pretty astounding. The predecessor was called the Huracán. This new Tamburario is 1,000, I mean 900 horsepower, almost 1,000 horsepower, right? A V8 that goes to 10,000 RPM, right? But what's really interesting about this car is that it has, it's electrified. So it has two motors in the front, right? That drive each front wheel. So basically when you kind of go around turns, it'll spin the outside wheel faster, kind of move the car around. So you almost feel like you can do anything in this car, right? Like you can go 200 miles an hour, hit the brakes, turn right really hard, and the car will do it. It's kind of like almost like magic, trickery, alien technology, whatever you want to call it. Uh, this car sort of has it all and it's super fast. I will say that because of the turbo technology and the electric motors, it's not as loud as the predecessor was, the V10, howling V10. This engine can get pretty loud, but if you're driving 10,000 RPM at that speed, you shouldn't be on any local roads. Who is, who do they take it on? Who's the rival for this new car? So Lamborghini and Ferrari have been locked in battle for a while now. Ferrari would say we're one of one Lamborghini, they're just, they're not our competition, but in reality, they really are. Uh, you have Aston Martin, right? You have McLaren. You have cars up this level, up this price, performance-wise. I've not driven the Ferrari 296, but I've heard that that car is sort of the pinnacle, and the Tamburario is probably there, if not, maybe surpasses it, I'm not sure. I've got to drive it. Yeah. Next assignment, that's what it is. Thank you, Pras. Related Videos Ford posts Q2 beat, but warns of tariff impact Boeing Q2 earnings preview: Tariffs & Air India crash in focus Labor data: Jobs report preview & immigration policy's impact Trump Gives Mexico 90-Day Reprieve from Tariffs Sign in to access your portfolio
Yahoo
21 minutes ago
- Yahoo
Trump removes official overseeing jobs data after dismal employment report
President Donald Trump has removed the head of the agency that produces monthly jobs figures for the US after a report showed hiring slowed in July and was much weaker in May and June than previously reported. Mr Trump, in a post on his social media platform, alleged that the figures were manipulated for political reasons and said that Erika McEntarfer, the director of the Bureau of Labour Statistics, who was appointed by former president Joe Biden, should be fired. He provided no evidence for the charge. 'I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,' Mr Trump said on Truth Social. 'She will be replaced with someone much more competent and qualified.' Mr Trump later posted: 'In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad.' The charge that the data was faked threatens to undercut the political legitimacy of the US government's economic data, which has long been seen as the 'gold standard' of economic measurement globally. Economists and Wall Street investors have long accepted the data as free from political bias. After Mr Trump's initial post, labour secretary Lori Chavez-DeRemer said on X that Ms McEntarfer was no longer leading the bureau and that William Wiatrowski, the deputy commissioner, would serve as the acting director. 'I support the President's decision to replace Biden's Commissioner and ensure the American People can trust the important and influential data coming from BLS,' Ms Chavez-DeRemer said. Friday's jobs report showed that just 73,000 jobs were added last month and that 258,000 fewer jobs were created in May and June than previously estimated. The report suggested that the economy has sharply weakened during Mr Trump's tenure, a pattern consistent with a slowdown in economic growth during the first half of the year and an increase in inflation during June that appeared to reflect the price pressures created by the president's tariffs. 'What does a bad leader do when they get bad news? Shoot the messenger,' Democratic senate leader Chuck Schumer of New York said in a Friday speech. Ms McEntarfer was nominated by Mr Biden in 2023 and became the commissioner of the Bureau of Labour Statistics in January 2024. Commissioners typically serve four-year terms but since they are political appointees can be fired. The commissioner is the only political appointee of the agency, which has hundreds of career civil servants. The Senate confirmed Ms McEntarfer to her post 86-8, with now vice president JD Vance among the yea votes. Mr Trump focused much of his ire on the revisions the agency made to previous hiring data. Job gains in May were revised down to just 19,000 from a previously revised 125,000, and for June they were cut to 14,000 from 147,000. In July, only 73,000 positions were added. The unemployment rate ticked up to a still-low 4.2% from 4.1%. 'No one can be that wrong? We need accurate Jobs Numbers,' Mr Trump wrote. 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes.' Mr Trump has not always been so suspicious of the monthly jobs report and responded enthusiastically after the initial May figures came out on June 6 when it was initially reported that the economy added 139,000 jobs. 'GREAT JOB NUMBERS, STOCK MARKET UP BIG!' Mr Trump posted at the time. That estimate was later revised down to 125,000 jobs, prior to the most-recent revision down to just 19,000. The monthly employment report is one of the most closely-watched pieces of government economic data and can cause sharp swings in financial markets. The disappointing figure sent US market indexes about 1.5% lower Friday. Sign in to access your portfolio
Forbes
22 minutes ago
- Forbes
I Tried ChatGPT's AI Agent To Make Money Online. Here's What Happened
Everyone's talking about AI agents. But why all the hype? 'They're the new future of work,' IBM's executive Justina Nixon-Saintil told me back in February when I visited IBM's headquarters in London. Nixon-Saintil predicted that very soon, AI agents would be so powerfully effective that they would be our new teammates at work. One day, you could be logging into your desktop and be greeted with hybrid team members: not an actual hybrid team in the working-from-home sense, but the kind that is half human, half robot, like something of an eery sci-fi movie. 'These agents can actually execute the work for you," Nixon-Saintil said. "Now, managers will need to know how to lead humans and how to lead a team of AI agents.' (*From Upwork's survey of 3,000 knowledge workers in May 2025) I was already curious about AI agents and just how useful they could be in this new world of work. But now that OpenAI released its new ChatGPT Agent mode, I decided to put it to the test and see if it could actually help me build a business and make money online as a freelancer. In this article, I share what I discovered. What Is An AI Agent? An AI agent is an AI tool (still in early stages) that can perform complex tasks and acts much like an assistant or even as an employee. 'AI agents are the tools we use to interact with AI. They can automate and perform complex tasks, such as natural language processing, that would normally require humans,' says McKinsey & Company. What Can Agentic AI Do? McKinsey further explains that you can organize agents into systems that can: What Are The Best AI Agents? There are different types of AI agents, some of which you may already use for work, like Copilot and ChatGPT. Then there are more advanced models and software, fantastic for entrepreneurs, freelancers, and professionals launching side hustles (especially when you have limited time because you're working 9-5), such as: Can ChatGPT's AI Agent Really Help You Make Money Online? The short answer is yes. As a well-experienced freelancer with six years under my belt, I decided to give ChatGPT's new agent mode a go, and see if it could transform my business or be just another hype. What I did: The results were astounding. I was able to watch the agent work in real time as it: "Emphasize measurable results in experience entries. For roles at CreatiSphere and Rachel Wells Coaching, spell out metrics that matter to high‑net‑worth clients: revenue growth, client portfolio size, geographies served and notable partnerships. Incorporate achievements such as 'grew coaching business to $300K+ revenue in 2024,' 'helped 10,000 professionals across eight countries increase income,' or 'secured Fortune‑500 clients for corporate training programmes.' Now that was something to think about. I tell my clients all the time to use quantifiable metrics wherever possible, and I did this in my about summary section on LinkedIn, but had never considered including metrics like my coaching business revenue in my experience section. The AI agent gave me tons of actionable steps which I'm currently implementing to take my business to the next level, and even though I already have partnerships and clients, I know for sure that when I apply these tips to my business I'll be able to secure even more six-figure deals using the leverage I have. This is just one example of how you can use AI agents like ChatGPT's agent mode to help you make more money, especially as a freelancer. Here's another powerful example of how to make as much as $10,000 from this simple AI agent trick with ChatGPT. See this screenshot below: My prompt: I want you to identify 10 key decision-makers for me to land speaking engagements, who are already in my LinkedIn network, and draft a message to them by way of introduction to build a relationship with them. Slight caveat: If you're using ChatGPT's agent mode to log into some websites and perform tasks for you, it may not be able to bypass the 'I'm not a robot' human verification, even if you take over and control its desktop and perform the verification yourself. How Do You Use AI Agents To Make Money? AI agents like ChatGPT certainly can transform your ability to make money online through your skills and start/boost your freelance business, if used for tasks like: Here's how, step-by-step: Will I use ChatGPT Agent mode again? Absolutely. I'm looking forward to reporting back on how my income and business revenue doubles after using this fantastic tool for the next few months. In the meantime, give agentic AI a try and see what it can do for your career, your money, and your business.
