June PCE: Fed’s favored inflation gauge showed price growth eased

The Federal Reserve’s preferred inflation gauge fell in June, as the pace of price growth pulled back amid volatility in energy markets. The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index declined 0.1% on a monthly basis in June and was up 3.7% from a year ago. Both…

US economy grew 1.5% in second quarter, Commerce Department estimates

This story about the advance estimate of second-quarter GDP will be updated with further details. U.S. economic growth slowed unexpectedly in the second quarter of the year, according to the Commerce Department’s advance estimate.The Bureau of Economic Analysis (BEA) on Thursday released its advance estimate of second-quarter GDP, which showed the…

Visa plans to cut 7% of workforce, about 2,600 jobs, for efficiency

Visa on Tuesday announced plans to cut 7% of its workforce, or about 2,600 jobs, as the payment processor moves forward with a push to operate more efficiently. The job cuts are expected to primarily affect technology and product teams.”I have deep conviction that we are doing what is right…

Airbus A350 completes 24-hour test flight for Qantas’ Project Sunrise

Airbus completed a test flight lasting more than 24 hours, a key step toward Qantas’ planned nonstop service linking Australia and Europe. The aircraft – a specially adapted A350-1000ULR – flew 14,338 miles from Melbourne, Australia, to Toulouse, France, in 24 hours and 24 minutes, according to Flightradar24 data.The flight…

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Mortgage rates and rising inventory push 9 cities to buyer’s market

Americans in the market for buying a new home are seeing the markets in some parts of the country turn in their favor after years of seller’s markets prevailing. Realtor.com on Tuesday released the second-quarter edition of its market clock report, which analyzes national and metro-level housing conditions based on…

Alphabet expands Miami office amid California billionaire tax push

Google reportedly expanded its office presence in Miami this year after two of its co-founders purchased houses in South Florida. Alphabet, the parent company of Google, signed a lease expanding its existing 10,000-square-foot satellite office in Miami’s financial district by an additional 45,000 square feet, two people familiar with the…

Cathie Wood calls SpaceX ‘most important company’ amid stock pullback

ARK Invest CEO Cathie Wood is defending her fund’s stake in SpaceX, declaring the aerospace and satellite network pioneer could become the “most important company in global history” despite the stock’s recent slide and an upcoming $116 billion share unlock. During an interview on “Mornings with Maria” Wednesday, Wood explained…

Icahn Enterprises sells Pep Boys to Mavis in 0M auto services deal

Icahn Enterprises on Tuesday announced that the company reached a deal to sell Pep Boys to Mavis, one of the largest independent tire and service providers in the country, in a $700 million deal. Pep Boys has nearly 800 locations around the country and offers auto services including tires, repairs,…

Ford recalls nearly 388K Explorer, Lincoln Aviator models over seat defect

Ford is recalling nearly 388,000 SUVs because an issue with the second-row easy-entry seats could increase the risk of injury, according to federal regulators. A total of 387,911 vehicles are affected, including certain 2020-2026 Ford Explorer and 2020-2027 Lincoln Aviator models, the National Highway Traffic Safety Administration (NHTSA) said in…

Apple Music subscription prices rise due to higher licensing costs

Apple is raising prices on Apple Music subscriptions as well as certain Apple One plans as the company faces higher licensing costs. The tech giant last week hiked prices for Apple Music plans across subscription tiers. Individual plans will rise by $1 a month to $11.99, while student plans will…

Jamie Dimon warns stock market and Treasury bond risks underpriced

JPMorgan Chase CEO Jamie Dimon said in an interview on Monday that he wouldn’t buy stocks or long-term Treasury bonds at their current prices as he thinks investors aren’t accounting fully for risks that could cause turmoil in equity and debt markets. Dimon said in an interview with CNBC that…

The AAA national average for regular gas passes  again amid Iran war

The AAA national average price for regular gas is back above $4 again amid the U.S. war with the Islamic Republic of Iran. As of July 21, the AAA national average for regular fuel is $4.019, up from yesterday’s average of $4.003, the week-ago average of $3.859, and the month-ago…

Trump’s OBBBA saved millions of manufacturing jobs, NAM report says

A group representing America’s manufacturers on Tuesday released a report marking one year since the enactment of the 2025 tax law that includes examples of the legislation’s impact on the manufacturing sector in all 50 states. The One Big Beautiful Bill Act (OBBBA) was passed by Republicans in Congress and…

Boeing explores possible new jet while working to improve finances: report

Boeing CEO Kelly Ortberg said the global aerospace company has begun early work on a possible new airplane design but is not yet ready to move forward. Ortberg, who became president and CEO in August 2024, said Boeing is spending “time and money” evaluating its options and preparing to introduce…