A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress by Republicans using the reconciliation process and signed into law last year by President Donald Trump, included a provision…
Iranian strikes have cut about 17% of Doha’s liquefied natural gas (LNG) export capacity, QatarEnergy’s CEO told Reuters in an interview on Thursday. Saad al-Kaabi said the disruption could result in an estimated $20 billion in lost annual revenue and threaten supplies to Europe and Asia.The CEO of the state-owned…
The CEO of Kohl’s signaled that the company isn’t planning on closing additional stores this year after it shuttered more than two dozen locations last year. Kohl’s closed 27 stores in 15 states in 2025 as the department store chain looked to get on better financial footing amid declining sales, and the…
Mortgage rates jumped this week to the highest level in nearly four months, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.22% from last week’s reading of 6.11%. The average rate on…
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Honda announced a $15.7 billion writedown of its electric vehicle (EV) business last week as the company shifts its U.S.…
Papa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition,…
Balances for 401(k) retirement accounts hit the “second-highest average on record” in the final quarter of 2024, according to new…
There’s good news for potential homebuyers: mortgage rates continued to trend down this week. In January, rates hit 7.04%, the…
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Dell’s workforce has fallen by 10% for a third year in a row, according to annual reports filed Monday. As of Jan. 30, the Texas-based tech giant reported a headcount of 97,000 employees, down roughly 11,000 from its previous year of 108,000. The reductions were primarily…
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The Trump administration invoked the Defense Production Act to order an oil company to restart shuttered offshore operations in California, saying the move is necessary to address oil supply disruption risks and reduce reliance on foreign crude. Energy Secretary Chris Wright on Friday directed Sable Offshore Corp., an oil and…
Egg prices have declined rapidly over the last year as the market normalizes following a significant avian flu outbreak that began in 2022, though the threat of a resurgence in the virus could lead to volatility later this year. The Bureau of Labor Statistics (BLS) on Wednesday reported the consumer price…
Airport security lines in Austin stretched outside the door early Friday with passengers waiting hours to board their flights amid pressure on Congressional lawmakers to reach a deal to reopen the Department of Homeland Security (DHS). Video footage posted online showed Transportation Security Administration (TSA) lines at Austin-Bergstrom International Airport…
Home prices are still climbing, even as mortgage rates have eased slightly and inventory shows early signs of improvement, underscoring just how tight the U.S. housing market remains. The median sales price for all existing homes last month hovered just below $400,000, marking the 32nd consecutive month of year-over-year price…
This story on the January 2026 PCE inflation report is developing and will be updated with more details. The Federal Reserve’s preferred inflation gauge remained stubbornly high in January as consumers continued to face elevated price growth.The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.3% on…
This is a developing story about the second reading of fourth-quarter gross domestic product growth. Please check back for updates. The U.S. economy grew at a slower rate than previously thought in the fourth quarter after the Commerce Department released its first revision of real gross domestic product (GDP) growth for…
A new hotspot has emerged for homebuyers looking to leave California, and it’s outdrawing a larger and more well-known metro area within its state in the process. Reno is the second-largest metropolitan area in the state of Nevada and has surpassed Las Vegas, the Silver State’s largest city, as a more…
Costco is facing a proposed nationwide class action lawsuit seeking refunds for customers over higher prices charged by the company due to the Trump administration’s tariffs that were subsequently ruled unconstitutional by the Supreme Court. The lawsuit was filed by a Costco shopper in federal court in Illinois on Wednesday…
The escalating conflict in Iran may no longer be contained to the Middle East, as it threatens to deliver a direct hit to the American pocketbook. As oil prices surge and global flight paths are redrawn, international carriers are already raising fares. While U.S. airlines have not yet raised prices,…
Energy Secretary Chris Wright on Thursday said that while the U.S. Navy may soon be in a position to escort oil tankers through the Strait of Hormuz to protect them from attacks by Iran, the Navy isn’t yet ready to do so. Wright said in an interview on CNBC’s “Squawk Box” that…
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