President Trump announced fresh sanctions on the Islamic Republic on Monday, following the downing of an unmanned American drone last week.Politicsread more
President Donald Trump's son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with...World Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Why are so many automakers, tech firms, components suppliers and ride-hailing companies pouring billions of dollars into developing self-driving cars and trucks?
In part, it's because the payoff could eventually be worth $7 trillion.
That's the estimate of a new study from the research firm Strategy Analytics and Intel, one of several tech giants investing heavily in autonomous-drive systems.
"This technology is driving big changes," said Kathy Winter, vice president and general manager of Intel's Automated Driving Group. "Time will be freed up by people not driving, there will be increased productivity and new goods and services to be consumed."
The study predicts a global "passenger economy" will start to grow after the first fully autonomous-drive vehicles hit the market in the next four to five years. At first, there will not be many, and their use will be limited, but by 2035 Intel expects the passenger economy will climb to $800 billion worldwide.
In 2050, Intel estimates, the global passenger economy will be worth $7 trillion. While it's too soon to know which companies will profit the most from the new world of transportation, Intel estimates the money will come in three primary areas.
Initially, many of the autonomous vehicle services and benefits will be found in cities and suburban areas with large populations. However, analysts believe self-driving vehicles will also reach rural areas.
"There are probably people in a rural area who have as much of a need for autonomous-drive vehicles as someone in a city," said Roger Lanctot, director of automotive connected mobility in the global automotive practice at Strategy Analytics.
While the dollar impact of the coming passenger economy is huge, the other benefits of widespread adoption are enormous. For example, Intel estimates pilotless vehicles will save at least 585,000 lives between 2035 and 2050.