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Americans' view of the economy worsened in June, wiping out much of the previous month's gain which followed a string of declines that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago
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31 minutes ago
- Yahoo
President Trump's Social Security Overhaul Could Hit Retirees Hard in 2025 and Beyond
It might be getting harder to communicate with the Social Security Administration. Future hardships for retirees range from inconvenience to potential reduced benefits. The Social Security surplus is running dry -- but solutions exist. The $23,760 Social Security bonus most retirees completely overlook › If you've been paying attention, you'll have noticed that while President Donald Trump's administration has not canceled Social Security, as some may have feared it would, it has made some changes -- and more changes may be coming. These changes, some of which may seem to be a good thing, are likely to hurt retirees in the long run. They may even affect retirees now, in 2025, especially when it comes to retirement planning. It's hard to plan when you're not sure what's happening next. Here's a look at what has been happening with Social Security and how it might affect you. The Social Security Administration (SSA) said in February that it plans to reduce its workforce of about 57,000 by about 7,000 -- a cut of about 12%. That's concerning because fewer employees may mean fewer people available to help retirees and pre-retirees with their Social Security benefits. The SSA is actually already an extremely efficient organization, even before these layoffs. The percentage of Social Security spending that goes to administration was only 0.5% in 2024 -- down from 1% in 2006 and 1.5% in 1978. It's true that most beneficiaries receive their monthly benefits electronically these days, but close to half a million retirees still receive paper checks. The Trump administration is ending paper checks. This will clearly affect lots of retirees, as many may not be able to easily set up direct deposits. Plenty are in their 90s, after all, and some don't even have bank accounts. Until recently, many retirees have been able to make Social Security transactions, such as changing direct deposit account numbers or applying for benefits, over the phone. Now, many such actions must be done online via a "my Social Security" account with two-factor authentication or in person at an SSA office. Those who are not that technologically adept or who live far from an SSA office will clearly be inconvenienced. I'm including this non-change because Trump has spoken a lot about how he wants to eliminate taxes on Social Security benefits. This is a tricky issue because while retirees would love to not face any taxes on their benefits, those taxes do generate revenue for Social Security. Without that revenue, the already-challenged program may see its surplus run dry even sooner than expected. Interestingly, Trump's "Big, Beautiful Bill" does not have the tax cancelation in it, which is a good thing for Social Security in the long run. Still, it might get added, as Congress is still shaping what actually gets passed. This spring, there were reputable reports that as many as 47 Social Security offices were being targeted for closure -- with an Associated Press report linking to a Department of Government Efficiency (DOGE) list of federal real estate closures and listing 26 offices slated to close in 2025. Obviously, if offices are closed, many retirees will have to travel farther to visit the office closest to them or simply may not be able to access a nearby office. But in late March, the SSA issued a notice saying that "Recent reports in the media that the Social Security Administration (SSA) is permanently closing local field offices are false." It added, "We have not permanently closed any local field offices this year." Still, this status quo may change. Here's the biggest way that retirees could be hurt by the Trump administration when it comes to Social Security: The program long ran a surplus, taking in more than it had to pay out, but with more people living longer and retiring early these days, the surplus is being used up and is estimated to run dry in 2034 -- only eight years away -- if nothing is done to strengthen the program. So far, there's little indication that the folks in charge in Washington want to strengthen it. (There are multiple ways to fix this problem, though.) So, if nothing is done, beginning around 2034, beneficiaries will only receive 81% of what they're due. With the average monthly retirement benefit of $2,002 as of May, a 19% cut would shrink that benefit to $1,622, reducing it by $380. Social Security's future right now is unclear, with various parties wanting to make various big changes. If you're anywhere near retiring, you may want to pay close attention to this issue. If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. President Trump's Social Security Overhaul Could Hit Retirees Hard in 2025 and Beyond was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
35 minutes ago
- Yahoo
Oil Ticks Up After Two-Day Plunge as Traders Assess Ceasefire
(Bloomberg) -- Oil rose — after posting the biggest two-day decline since 2022 — as traders assessed the Iran-Israel ceasefire and an industry report that pointed to another drop in US crude stockpiles. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags Brent crude rose 1% to almost $68 a barrel, after slumping 13% over the past two days. Following their brief war, Israel and Iran appeared to be observing the ceasefire brokered by US President Donald Trump, reducing risks to supplies from the region. The dust is beginning to settle in a global oil market that has been on a wild ride this week, marked by the biggest daily price swing in almost three years. The rocky trading has been amplified by huge trading volumes in options markets, while the closely-watched oil futures curve has also returned to its pre-war levels. Crude initially rose after the US bombed Iranian nuclear sites at the weekend, then got dragged sharply lower as the White House announced the truce between Tehran and Israel. Also on Tuesday, Trump gave China — Iran's biggest crude customer — the green light to carry on buying its oil, adding to the selloff. That move appeared to undermine years of US sanctions against Tehran, though a senior White House official later signaled that curbs on Iran would remain. 'There is no longer any real fear of the conflict spreading,' said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. 'With Trump's comments on Iranian oil exports, downward pressure on oil prices is likely to continue.' The OPEC+ alliance is due to hold discussions on July 6 to consider a further supply boost in August. Meanwhile, Trump's self-imposed deadline to reach trade deals with major US partners falls on July 9. Nations without an accord in place will face the so-called 'Liberation Day' tariffs. US crude stockpiles dropped by about 4.3 million barrels last week, according to an estimate from the American Petroleum Institute, an industry group. Official data on holdings — which sank more than 11 million barrels in the prior week — are due to be released later on Wednesday. --With assistance from John Deane. Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P.
Yahoo
37 minutes ago
- Yahoo
AI-Driven Battery Management Systems Market to Reach $18.5 Billion by 2032, Growing at a CAGR of 20.6% from 2025, Says Meticulous Research®
Market Growth Powered by Electric Vehicle Expansion, Energy Storage Demand, Advanced Thermal Management Requirements, and Digital Twin Technology Integration REDDING, Calif., June 25, 2025 /PRNewswire/ -- According to a comprehensive market research report titled "AI-Driven Battery Management Systems Market by Component (Hardware, Software, Services), Application (Electric Vehicles, Energy Storage), Distribution Channel, End User, and Geography - Global Forecast to 2032", the AI-driven battery management systems market is projected to reach $18.5 billion by 2032, up from an estimated $4.1 billion in 2025, growing at a robust CAGR of 20.6% during the forecast period. The explosive growth of the AI-driven battery management systems market is fueled by the critical need for enhanced battery performance optimization, extended lifecycles, and advanced safety protocols across electric vehicles and energy storage applications. The market's expansion is driven by increasing adoption of predictive analytics, state-of-charge (SOC) and state-of-health (SOH) precision requirements, and the integration of machine learning algorithms for real-time battery monitoring and thermal management. The industry is experiencing revolutionary transformation through digital twin technology adoption, wireless BMS architectures, edge AI processing capabilities, and the shift from hardware-centric to software-defined solutions. Leading companies are leveraging cloud-to-edge computing architectures while expanding into vehicle-to-grid (V2G) integration and Battery-as-a-Service (BaaS) models for next-generation energy management solutions. For more comprehensive insights, download the FREE report sample: Revolutionary Market Transformation Through Intelligent Battery Optimization The AI-driven battery management systems market represents a paradigm shift in energy storage technology and intelligent power management. As industries increasingly demand longer battery lifecycles, enhanced safety protocols, and precise performance monitoring, AI-enabled BMS solutions offer revolutionary capabilities that address the growing complexity of modern battery applications across automotive, energy storage, and data center environments. Market leaders are investing heavily in advanced machine learning algorithms and edge computing technologies, establishing development capabilities that can deliver real-time battery optimization, predictive maintenance, and adaptive thermal management. This technological advancement is making AI-driven BMS solutions increasingly accessible while delivering superior performance, safety, and operational efficiency benefits. Dynamic Growth Across Key Market Segments The Software and AI Solutions segment dominates the market in 2025, capturing the largest share due to growing adoption of predictive analytics and state estimation algorithms essential for battery optimization and safety. However, the Hardware segment is experiencing the fastest growth, driven by increasing demand for real-time, on-device processing and AI-optimized BMS processors for edge computing applications. In services categories, the Implementation & Integration Services segment leads with the largest market share, reflecting the complexity of incorporating AI technologies into existing battery infrastructures. The Data Centers segment accounts for the fastest growth in applications, driven by critical requirements for uninterrupted power and precise battery monitoring in backup systems. Get Insightful Data on Regions, Market Segments, Customer Landscape, and Top Companies (Charts, Tables, Figures and More) - Strategic Market Opportunities and Innovation Drivers The market presents extraordinary growth opportunities through digital twin technology integration, wireless BMS architecture adoption, and expansion into second-life battery applications. Companies are discovering new revenue streams through vehicle-to-grid integration and Battery-as-a-Service models while establishing performance-based licensing frameworks for intelligent energy management ecosystems. Key market drivers include: Rising Electric Vehicle Adoption: Global EV sales growth driving demand for advanced battery management with enhanced range, fast charging, and safety capabilities Energy Storage System Expansion: Utility-scale projects requiring grid stabilization, renewable energy integration, and peak demand management solutions Data Center Power Requirements: Critical need for uninterrupted power and precise battery monitoring with AI-enhanced real-time health insights and predictive maintenance Advanced Thermal Management: Growing adoption of fast charging technologies requiring sophisticated temperature control and safety protocols Regional Market Leadership and Emerging Growth North America commands the largest market share in 2025, driven by advanced electric vehicle adoption, substantial R&D investments, strong regulatory frameworks supporting battery safety and efficiency, and established infrastructure for energy storage deployment across automotive and utility sectors. Asia-Pacific emerges as the fastest-growing region, propelled by large-scale EV production in China, South Korea, and Japan, proactive government initiatives advancing battery technologies, rising deployments of energy storage systems, and massive manufacturing scale supporting market expansion across emerging economies. Europe represents a significant market, supported by stringent environmental regulations driving EV adoption and robust investment in renewable energy storage infrastructure requiring advanced battery management capabilities. Request a customized research analysis tailored to your specific requirements: Dynamic Competitive Landscape Driving Innovation The global AI-driven battery management systems market features an innovative competitive ecosystem comprising established battery manufacturers, semiconductor companies expanding AI capabilities, and specialized software-focused startups gaining significant market share. This diverse landscape fosters rapid technological advancement and algorithm development. Industry leaders are implementing integrated solutions that combine advanced machine learning algorithms with edge computing capabilities and digital twin modeling. Companies are pursuing vertical integration strategies while addressing battery optimization and safety challenges across different applications and geographic markets. Immediate Delivery Available | Buy this Research Report (Insights, Charts, Tables, Figures and More) - Market Leaders Shaping Industry Future Key players driving the global AI-driven battery management systems market include CATL (Contemporary Amperex Technology Co., Limited) (China), LG Energy Solution, Ltd. (South Korea), Panasonic Holdings Corporation (Japan), Tesla, Inc. (U.S.), Samsung SDI Co., Ltd. (South Korea), BYD Company Limited (China), Siemens AG (Germany), Texas Instruments Incorporated (U.S.), Analog Devices, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Northvolt AB (Sweden), Infineon Technologies AG (Germany), TWAICE Technologies GmbH (Germany), ABB Ltd. (Switzerland), and Bosch Mobility Solutions (Robert Bosch GmbH) (Germany). Latest Industry Developments Recent market developments include: Major Trend Shifts: Transition from hardware-centric to software-defined BMS solutions, integration of digital twin technology for predictive battery modeling, and adoption of wireless BMS architectures for weight reduction and improved performance Technology Advancement: Development of edge AI processors optimized specifically for battery applications, enabling real-time local processing while continuously improving algorithms through fleet-wide learning Business Model Innovation: Emergence of performance-based BMS licensing models and Battery-as-a-Service offerings reducing upfront capital expenditure while ensuring long-term battery performance optimization Related Reports: Battery Energy Storage System Market $43.7B by 2030 | 28.8% CAGR Growth | Meticulous Research Battery Management Systems Market Forecast: Strategic Analysis and Growth Opportunities Electric Bike Kits Market by Drive Type, Component, and Regional Analysis Variable Frequency Drive Market $34.2B by 2032 | 5.1% CAGR Growth | Meticulous Research About Meticulous Research We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with market intelligence designed to drive revenue transformation and strategic growth. Our insights reveal future growth opportunities, equipping clients with a competitive edge through a versatile suite of research solutions—including syndicated reports, custom research, and direct analyst engagement. To find out more, visit or follow us on LinkedIn. Contact:Mr. Khushal BombeMeticulous Market Research Pvt. Ltd.1267 Willis St, Ste 200 Redding,California, 96001, +1-646-781-8004Europe: +44-203-868-8738APAC: +91 744-7780008Email- sales@ Our Website: with us on LinkedIn- Source: Logo: View original content: SOURCE Meticulous Market Research Pvt. Ltd. Sign in to access your portfolio
