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Gen Z Leads Biggest Drop In FICO Scores Since Financial Crisis

Slashdot.org - 38 min 46 sec ago

An anonymous reader quotes a report from Bloomberg: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world's economy. The average FICO score slipped to 715 in April from 717 a year earlier, marking the second consecutive year-over-year drop, according to a report released Tuesday by Fair Isaac Corp. The average score dropped three points to 687 in 2009. Gen Z borrowers saw the largest drop, not only this year, but of any age group since 2020, with their average score falling three points to 676, the Montana-based creator of the FICO credit score said. FICO scores are a measure of consumer credit risk and are frequently used by US banks to assess whether to provide loans. The scores typically range from 300 to 850. The credit scoring agency attributed the recent overall drop to higher rates of utilization and delinquency, including the resumption of reporting student loan delinquencies -- a category that hit a record high of 3.1% of the entire scorable population. [...] While the overall average score dropped, the median FICO score continued to rise to 745 from 744 a year ago, indicating that a large drop in scores at the low end dragged down the average.

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Nvidia To Invest $5 Billion in Intel

Slashdot.org - 1 hour 12 min ago

Nvidia has agreed to invest $5 billion in its struggling rival Intel [non-paywalled source] as part of a deal to develop new chips for PCs and data centres, the latest reordering of the tech industry spurred by AI. From a report: The deal comes a month after the US government agreed to take a 10 per cent stake in Intel, as Donald Trump's administration looks to secure the future of American chip manufacturing. However, the pair's announcement makes no reference to Nvidia using Intel's foundry to produce its chips. Intel, which has struggled to gain a foothold in the booming AI server market, lost its crown as the world's most valuable chipmaker to Nvidia in 2020. On Thursday Jensen Huang, Nvidia's chief executive, hailed a "historic collaboration" and "a fusion of two world-class platforms," combining its graphics processing units, which dominate the market for AI infrastructure, with Intel's general-purpose chips. Further reading: Intel Weighed $20 Billion Nvidia Takeover in 2005.

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LimeWire Acquires Fyre Festival Brand

Slashdot.org - 3 hours 38 min ago

LimeWire, once notorious for fueling online piracy, has acquired the rights to the infamously disastrous Fyre Festival brand. "LimeWire Acquires Fyre Festival Brand -- What Could Possibly Go Wrong?" the company titled its news release. LimeWire said it would "unveil a reimagined vision for Fyre -- one that expands beyond the digital realm and taps into real-world experiences, community, and surprise." No additional details were announced about the relaunch. "Fyre became a symbol of hype gone wrong, but it also made history," LimeWire CEO Julian Zehetmayr said. "We're not bringing the festival back -- we're bringing the brand and the meme back to life. This time with real experiences, and without the cheese sandwiches."

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Color-Changing Organogel Stretches 46 Times Its Size and Self-Heals

Slashdot.org - 6 hours 38 min ago

alternative_right shares a report from Phys.org: Scientists from Taiwan have developed a new material that can stretch up to 4,600% of its original length before breaking. Even if it does break, gently pressing the pieces together at room temperature allows it to heal, fully restoring its shape and stretchability within 10 minutes. The sticky and stretchy polyurethane (PU) organogels were designed by combining covalently linked cellulose nanocrystals (CNCs) and modified mechanically interlocked molecules (MIMs) that act as artificial molecular muscles. The muscles make the gel sensitive to external forces such as stretching or heat, where its color changes from orange to blue based on whether the material is at rest or stimulated. Thanks to these unique properties, the gels hold great promise for next-generation technologies -- from flexible electronic skins and soft robots to anti-counterfeiting solutions. The findings have been published in the journal Advanced Functional Materials.

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We’re investing in connectivity, products and skills for Africa’s AI futureWe’re investing in connectivity, products and skills for Africa’s AI futureSVP, Research, Labs, Technology & Society

GoogleBlog - 9 hours 38 min ago

As part of our ongoing commitment to Africa, Google is announcing new connectivity infrastructure, access to powerful AI tools, and skills.As part of our ongoing commitment to Africa, Google is announcing new connectivity infrastructure, access to powerful AI tools, and skills.

Categories: Technology

China Is Sending Its World-Beating Auto Industry Into a Tailspin

Slashdot.org - Wed, 09/17/2025 - 22:30

An anonymous reader quotes a report from Reuters: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China's FAW is about $22,300, more than 60% below its sticker price. These deals -- offered by a company called Zcar, which says it buys in bulk from automakers and dealerships -- are only possible because China has too many cars. Years of subsidies and other government policies have aimed to make China a global automotive power and the world's electric-vehicle leader. Domestic automakers have achieved those goals and more -- and that's the problem. China has more domestic brands making more cars than the world's biggest car market can absorb because the industry is striving to hit production targets influenced by government policy, instead of consumer demand, a Reuters examination has found. That makes turning a profit nearly impossible for almost all automakers here, industry executives say. Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. Most Chinese dealers can't make money, either, according to an industry survey published last month, because their lots are jammed with excess inventory. Dealers have responded by slashing prices. Some retailers register and insure unsold cars in bulk, a maneuver that allows automakers to record them as sold while helping dealers to qualify for factory rebates and bonuses from manufacturers. Unwanted vehicles get dumped onto gray-market traders like Zcar. Some surface on TikTok-style social-media sites in fire sales. Others are rebranded as "used" -- even though their odometers show no mileage -- and shipped overseas. Some wind up abandoned in weedy car graveyards. These unusual practices are symptoms of a vastly oversupplied market -- and point to a potential shakeout mirroring turmoil in China's property market and solar industry, according to many industry figures and analysts. They stem from government policies that prioritize boosting sales and market share -- in service of larger goals for employment and economic growth -- over profitability and sustainable competition. Local governments offer cheap land and subsidies to automakers in exchange for production and tax-revenue commitments, multiplying overcapacity across the country.

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