The Federal Reserve’s preferred inflation gauge showed that prices ticked slightly higher in May as the central bank waits for signs of tariff-induced inflation reaching consumers this summer. The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.1% on a monthly basis and 2.3% compared with a year ago. Those […] ...
Tag: Markets
Treasury secretary reveals ‘peace deals’ with China as rare earth supplies set to flowTreasury secretary reveals ‘peace deals’ with China as rare earth supplies set to flow
Treasury Secretary Scott Bessent revealed new details about the reported trade deal struck between the U.S. and China, adding that he’s now seen “de-escalation” firsthand. “This is what leadership looks like under President Trump. We’ve got peace deals, we’ve got trade deals, we’ve got tax deals. And in dealing with the world’s second-largest economy, we […] ...
June 2025 recalls impact Honda, Trader Joe’s, Harley-Davidson and moreJune 2025 recalls impact Honda, Trader Joe’s, Harley-Davidson and more
Consumers saw a host of recalls for products, vehicles, food and drinks in the month of June. Recalls of food in June ranged from dried apricots with insufficient labeling to “ready-to-eat” pasta linked to a listeria outbreak. Meanwhile, consumer products such as dumbbells and power banks also faced recalls. Vehicle manufacturers, including Honda, Ford and […] ...
NYC real estate developer schools Mamdani over pricey housing planNYC real estate developer schools Mamdani over pricey housing plan
New York City mayoral candidate Zohran Mamdani is rattling real estate developers and landlords over his sweeping proposal to tackle the city’s housing crisis. The Queens assemblyman wants to build 200,000 new publicly-subsidized affordable homes and immediately freeze rents for the city’s 2.4 million stabilized tenants. “You don’t build housing by attacking the people who […] ...
DoorDash driver says it was an ‘extremely big honor’ to stand behind Trump at ‘Big, Beautiful Bill’ eventDoorDash driver says it was an ‘extremely big honor’ to stand behind Trump at ‘Big, Beautiful Bill’ event
In an exclusive interview, Maliki Krieski, a mother, small business owner and DoorDash delivery driver who stood behind President Donald Trump during an event promoting the “Big, Beautiful Bill” on Thursday, told Fox News Digital that it was an “extremely big honor” to support the president’s bill. She shared why the bill is so important […] ...
California eyes potential ban on online fantasy sportsCalifornia eyes potential ban on online fantasy sports
California’s top legal authority is moving forward in a push to rid the state of sweepstakes casino games. Attorney General Rob Bonta will introduce an opinion that would make all online fantasy sports platforms illegal in California, KCRA-TV reported. The Golden State is not the first U.S. state to propose legislation that would eliminate the […] ...
GE Appliances to move washing machine production from China to Kentucky in $490M investmentGE Appliances to move washing machine production from China to Kentucky in $490M investment
GE Appliances on Thursday said it would spend $490 million to move the production of most of its washing machines from China to Kentucky. The operation will move to the company’s massive industrial Appliance Park headquarters in Louisville, Kentucky, where it already manufactures washers and dryers. At least 800 new full-time jobs are expected to […] ...
Bill Ackman promises to fund centrist candidate to defeat socialist Mamdani in NYC mayoral raceBill Ackman promises to fund centrist candidate to defeat socialist Mamdani in NYC mayoral race
Billionaire Bill Ackman said Thursday he will back a candidate in the New York City mayoral race to counter the candidacy of New York Assemblyman Zohran Mamdani, an avowed democratic socialist. Mamdani is the presumptive Democratic Party nominee for the New York City mayoral race after he declared victory over former New York Gov. Andrew Cuomo […] ...
Jewelry retailer shops for buyers amid tariff strugglesJewelry retailer shops for buyers amid tariff struggles
Claire’s Stores Inc. is weighing a potential sale as the beleaguered teen jewelry store contends with relentless competition and the impact of President Donald Trump’s tariffs, according to a report. The company, primarily owned by private equity firms Elliott Management and Monarch Alternative Capital, tapped Houlihan Lokey Inc to find potential buyers for some or […] ...
Inside Bezos’ $1B wedding plans: Amazon founder taps ultra-exclusive event companyInside Bezos’ $1B wedding plans: Amazon founder taps ultra-exclusive event company
Amazon founder Jeff Bezos and fiancée Lauren Sánchez tapped event planners Lanza & Baucina Limited for their wedding ceremony and reception. The planners are bound to be busy because the high-profile couple, engaged for roughly two years, are getting married in Venice, Italy, later in the week. Lanza & Baucina Limited is based in London. […] ...
‘America’s Checkbook’ would open the ledger on federal expenditures from pencils to the Pentagon‘America’s Checkbook’ would open the ledger on federal expenditures from pencils to the Pentagon
The Treasury would be required to track every expenditure of the federal government under the newest congressional effort toward government efficiency. The LEDGER Act, nicknamed “America’s Checkbook,” is based off two successful efforts in Ohio and Florida where efforts to publicize individual government expenditures have been successful. Reps. Michael Rulli, R-Ohio, and Michael Haridopolos, R-Fla., […] ...
Tech giant faces third lawsuit alleging it’s discriminating against older white men in furtherance of DEITech giant faces third lawsuit alleging it’s discriminating against older white men in furtherance of DEI
America First Legal, a pro-Trump legal advocacy nonprofit, has filed suit for the third time against International Business Machines Corporation (IBM) for allegedly discriminating against its older White male employees in furtherance of the company’s diversity, equity and inclusion (DEI) policies. The plaintiff in this latest suit filed against IBM on Wednesday is a former […] ...
Airline giants rally behind Trump admin’s ‘critical’ plan to overhaul outdated air traffic systemsAirline giants rally behind Trump admin’s ‘critical’ plan to overhaul outdated air traffic systems
EXCLUSIVE: The CEOs of four major airlines in the United States are vocalizing support for a key provision in the reconciliation bill in a new video. The Department of Transportation is heavily advocating for $12.5 billion in funding included in the “One Big Beautiful Bill Act” in order to overhaul the decades-old air traffic control […] ...
Dollar slides to 3-year low on report Trump plans to name next Fed chair earlyDollar slides to 3-year low on report Trump plans to name next Fed chair early
The U.S. dollar sank to its lowest level in three years on Thursday following a report that President Donald Trump is planning to pick his nominee to serve as the next chair of the Federal Reserve early. The Wall Street Journal’s U.S. Dollar Index – which measures the dollar’s strength relative to a basket of 16 foreign […] ...
Salesforce boss reveals the stunning amount of work now handled by AISalesforce boss reveals the stunning amount of work now handled by AI
Salesforce CEO Marc Benioff revealed the software company uses artificial intelligence (AI) technology to perform a good deal of its work. He told Emily Chang, the host of Bloomberg’s “The Circuit with Emily Chang,” that AI “is doing 30% to 50% of the work at Salesforce now.” The company has been using AI to automate […] ...
Sam’s Club adds ‘hot baked’ food item to members-only delivery serviceSam’s Club adds ‘hot baked’ food item to members-only delivery service
Sam’s Club is about a month into delivering “hot baked pizza” to members’ doors. The retail giant, owned by Walmart, said it got into the pizza delivery business following member feedback. “Since launching pizza delivery in late May, we’ve been encouraged by the strong response from members,” a statement from a Sam’s Club spokesperson to […] ...
US regulator directs Fannie Mae, Freddie Mac to consider cryptocurrency as an assetUS regulator directs Fannie Mae, Freddie Mac to consider cryptocurrency as an asset
The U.S. housing regulator directed Fannie Mae and Freddie Mac to consider cryptocurrency as an asset for single-family mortgage loan risk assessments. Federal Housing Finance Agency (FHFA) Director William Pulte said in a social media post on Wednesday that he ordered government-sponsored enterprises, which play a critical role in the home financing industry, to “prepare […] ...
Mortgage rates fall for 4th straight week, lowest since early MayMortgage rates fall for 4th straight week, lowest since early May
Mortgage rates fell for the fourth consecutive week to the lowest level since early May, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.77% from last week’s reading of 6.81%. The average rate on a […] ...
Trump’s energy chief warns US grid ‘reaching its limit’ as administration works to avert ‘train wreck’Trump’s energy chief warns US grid ‘reaching its limit’ as administration works to avert ‘train wreck’
The secretary of America’s energy department has cautioned that the nation’s grid is reaching its limit, arguing Trump administration decisions are actively preventing a disaster. “In my department, we’ve issued four emergency orders just in the last few weeks to stop the closure of reliable plants, so we can keep the lights on and stop […] ...
Bumble announces major layoffs affecting 30% of employees as company restructuresBumble announces major layoffs affecting 30% of employees as company restructures
Bumble Inc. disclosed Wednesday that it will cut its workforce by 30%. The move comes as the dating app company seeks to realign its operating structure to “optimize execution on its strategic priorities,” Bumble said in a Securities and Exchange Commission (SEC) filing. Approximately 240 people will lose their jobs in the planned layoffs. CEO […] ...
Federal judge rejects Trump admin’s move to monitor border financial transactionsFederal judge rejects Trump admin’s move to monitor border financial transactions
A federal judge in Texas granted temporary relief to two small money service businesses operating along the U.S.-Mexico border from having to enforce a Trump administration policy intended to disrupt clandestine financial laundering operations by cartels. In March, the U.S. Treasury Department issued a “Geographic Targeting Order” that lowered the required reporting threshold on cash […] ...
US economy shrank 0.5% in the first quarter of 2025 amid tariff uncertaintyUS economy shrank 0.5% in the first quarter of 2025 amid tariff uncertainty
The U.S. economy contracted in the first quarter as tariffs caused importers to surge shipments before higher levies took effect. The Commerce Department’s Bureau of Economic Analysis (BEA) released its third estimate for first quarter gross domestic product (GDP), which found the U.S. economy contracted at an annual rate of 0.5% in the first quarter, […] ...
Your DoorDash order might arrive from the sky as drone deliveries take offYour DoorDash order might arrive from the sky as drone deliveries take off
Your next order from DoorDash might not come via a delivery driver on an electric-powered delivery bike. It could get delivered by air. In recent years, companies such as Walmart have increased their use of drone technology to deliver groceries and household items, aiming to outpace competitors and capture market share. Now, drone companies are […] ...
Judges rule against authors over AI companies training models on books without permissionJudges rule against authors over AI companies training models on books without permission
Two artificial intelligence development companies won in court this week against book authors’ copyright lawsuits. Two federal judges in San Francisco ruled that Anthropic and Meta may use books without permission to train its artificial intelligence systems. On Wednesday, U.S. District Judge Vince Chhabria sided with Meta Platforms, telling authors that they did not present […] ...
Popular chicken finger chain quietly launches massive expansion across AmericaPopular chicken finger chain quietly launches massive expansion across America
Raising Cane’s, a popular fast-food chain specializing in chicken fingers, is continuing to increase its restaurant count. Three new Raising Cane’s restaurants began serving customers on Tuesday, and according to a representative for the company, more openings are coming. The trio of locations that opened earlier this week are located in Ontario, Ohio; Wichita, Kansas; […] ...