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Economy

43 GoKawiil briefs on this topic

DOT rolls back fuel economy standards to pre-Biden levels amid record gas prices

The US Department of Transportation issued its Freedom Means Affordable Cars rule, formally called SAFE Vehicles Rule III, reverting corporate average fuel economy standards to pre-Biden-era levels. Secretary Sean Duffy framed the move as ending an illegal EV mandate, while the agency claims it will lower new-vehicle prices by $1,300 and save consumers $138 billion over five years. The change comes as AAA reports regular gas averaging $4.48 a gallon and diesel $6.45, with prices up more than 50% since the Iran conflict began.

DOT finalizes CAFE rollback to 34.9 mpg target by 2031

The Department of Transportation issued a final rule cutting Corporate Average Fuel Economy standards to levels lower than those set in 2020, targeting just 34.9 mpg by model year 2031. The rule eliminates emissions credits starting in model year 2028 and removes the favorable treatment that let EVs and plug-in hybrids count as hundreds of mpg toward an automaker's fleet average.

Bank of America data shows older millennials outspend other generations on hobbies

Bank of America Institute analyzed credit card transactions through August 2026 and found overall hobby spending up 7.9% year over year, growing faster than transaction volume. Older millennials spend nearly $220 per person monthly on hobbies, more than Gen X and Baby Boomers (both around $200), while Gen Z spends about $100 and younger millennials just over $140.

NHTSA finalizes rollback of Biden-era fuel economy standards

The Department of Transportation announced Monday that the National Highway Traffic Safety Administration has finalized new corporate average fuel economy rules, replacing Biden-era targets. The previous standard called for new vehicles to average 50.4 miles per gallon by 2031; the new rule lowers that requirement to 34.9 miles per gallon.

US diesel prices hit record $6.53 average per gallon

Diesel fuel prices in the United States have climbed to a record average of $6.53 per gallon, with some farm operators reporting a 77% jump in fueling costs for equipment like tractors. The spike has drawn widespread attention as a key driver of broader price pressures across the economy.

AP-KFF poll: half of rural voters say economy has worsened under Trump

A new AP-NORC/KFF poll of more than 2,000 rural registered voters finds about half believe the economy has gotten worse since Trump returned to office. Grocery, gas and healthcare costs rank as top concerns, with rural voters more likely than the general public to worry about affording groceries and gas.

OpenAI hires Patreon co-founder Sam Yam to lead new Creator Product team

OpenAI has hired three former Patreon executives, including co-founder and CTO Sam Yam, product head Drew Rowny, and engineering head Shannon Ma. Yam announced on X that he will lead a new Creator Product effort at OpenAI, teasing early access to new tools for creators ahead of OpenAI's DevDay event on September 29th.

DoorDash to pay $131.5 million over NYC delivery worker wage violations

New York City's Department of Consumer and Worker Protection reached a settlement requiring DoorDash to pay $131.5 million after an investigation into late, missing, or miscalculated payments to delivery workers. More than 260,000 workers will share over $115 million, with the remainder covering civil penalties and disputed pay for time Dashers spent online awaiting deliveries.

DoorDash to pay $115M+ to 264,000 NYC delivery workers in $131.5M settlement

DoorDash has settled with New York City after an investigation found delivery workers were underpaid or paid late. Under the agreement, more than 260,000 workers will receive over $115 million, part of a broader $131.5 million settlement with the city.

Activision pegs global Call of Duty cheat market at $8.5 billion annually

Activision published a report ahead of Call of Duty: Modern Warfare 4's October 22 launch detailing the scale of the video game cheating economy, citing research from threat intelligence firm Intorqa. The study estimates the market generates between $5.1 billion and $13.8 billion yearly, with cheat subscriptions for just 15 popular titles alone bringing in roughly $3.5 billion, and the remainder coming from account trading, boosting, and spoofing hardware sold through organized distributor networks.

Dartmouth builds in-house AI career tools to guide students through AI-disrupted job market

Dartmouth College is developing its own AI-based systems, modeled partly on approaches used by companies like Google, to help students and alumni navigate career decisions as artificial intelligence reshapes hiring. The tools are meant to help people identify suitable career paths and job opportunities amid growing uncertainty in the entry-level labor market caused by automation and AI-driven recruiting.

Essay 'The Hierarchy of Money' Traces Barter, Currency and Debt Origins

A conceptual essay uses a fictional village to explain how money evolved from barter, describing villagers adopting scarce riverbed stones as a shared unit of value. It then walks through how that system naturally gave rise to concepts like self-regulated supply, credit and debt as trade needs grew more complex.