Goldman Sachs has cut its near-term growth forecasts for the United States. Goldman Sachs based this on spiking COVID-19 cases and slowing economic activity. US gross domestic product will grow 3.5% in the fourth quarter, down from the previous forecast of 4.5%. According to Business Insider first-quarter 2021 growth estimate was also lowered to 1% from 3.5%. Goldman Sachs said the winter drag should give way to a bigger rebound on the back of vaccine distribution.
CNN reports seven million GM pickups and SUVs worldwide are being recalled. The recall centers on a defect in Japanese airbags made by now-bankrupt Takata. The defect caused the bags to explode, spraying shrapnel through the vehicle. The GM vehicles have airbags also made by Takata, which are linked to at least 17 deaths in the United States. The National Highway Traffic Safety Administration ordered the US recall on Monday.
The Wall Street Journal is reporting that streaming service Quibi is considering shutting down. Quibi has struggled to gain a foothold in the streaming industry since its launch in April. Business Insider reports that Quibi has failed to attract viewers and none of its shows have become major hits. Last month WSJ reported that Quibi was exploring multiple options, including a possible sale. The company boasted Hewlett Packard Enterprises CEO Meg Whitman as its CEO.
Miley Cyrus has battled sobriety for years. During a recent appearance on Apple's "New Music Daily with Zane Lowe" Cyrus said she "fell off" the wagon during the pandemic. The singer and actress says she would never want to pretend that she has been sober. "I fell off and I realized that I now am back on sobriety, two weeks sober." The star said she has issues with moderation and said she believes everyone should do what's best for them. Cyrus' latest album, "Plastic Hearts," drops Friday.
In early trading on Tuesday, shares of Goldman Sachs Group topped the list of the day's best performing Dow Jones Industrial Average components, trading up 4.0%. Year to date, Goldman Sachs Group has..
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