The leader of a trade group that represents most major automakers called on the federal government to eliminate its gasoline tax and replace it with a vehicle fee to finance road infrastructure needs. Alliance for Automotive Innovation CEO John Bozzella, whose group represents automakers such as General Motors, Toyota, Volkswagen, Hyundai…
Tech giant Meta is planning to move forward with laying off about 200 employees in the San Francisco Bay Area. The company’s layoffs will affect 124 employees from its site in Burlingame, California, along with 74 in Sunnyvale. Those cuts are expected to take effect in late May, with the…
The parent company of luxury retailer Saks announced Thursday that it entered into a restructuring agreement with its capital partners who committed to provide $500 million in financing when the company emerges from bankruptcy. Saks Global Enterprises filed for Chapter 11 bankruptcy protection in January after it missed a $100…
American workers saw rising wages in March, though the increases were lighter than expected and represented a deceleration from the prior month’s readings. The Bureau of Labor Statistics on Friday released the March jobs report, which showed the U.S. economy added 178,000 jobs for the month – beating the expectations…
Trending
Spotlight This Week
More Articles
Money
General Motors is planning to ramp up production of heavy-duty pickup trucks in Michigan this summer amid strong demand for…
German automaker Mercedes-Benz said on Tuesday it will invest $4 billion at its Alabama plant through 2030 to boost SUV…
Global banking giant HSBC Holdings Plc is considering significant job reductions in the years ahead, as CEO Georges Elhedery bets…
Rivian and Uber on Thursday announced a partnership worth up to $1.25 billion to accelerate the two companies’ plans for autonomous…
Featured Articles
Los Angeles County, once the symbol of American prosperity and Hollywood dreams, has earned the title of the nation’s leader in population loss. The latest U.S. Census data shows shows that between July 1, 2024, and July 1, 2025, 53,421 residents left the county, marking…
All News
Federal Reserve Chair Jerome Powell said that the U.S. economy is facing a supply shock from the disruption of Middle East oil supplies after previous shocks like the COVID-19 pandemic and tariffs pushed prices higher. Powell spoke to an economics class at Harvard University on Monday and said that the series…
Air Canada said Monday that President and CEO Michael Rousseau will retire by the end of the third quarter of 2026, capping nearly two decades with the company. The announcement comes the same month as a fatal crash involving an Air Canada Jazz flight from Montreal at New York’s LaGuardia…
Fresh data from the IRS shows that Americans’ average tax refunds in the 2026 filing season have risen significantly from last year as the filing deadline approaches. IRS data through March 20 showed that the average tax refund amount has risen to $3,571 in the 2026 filing season to date, an increase…
BlackRock CEO Larry Fink recently published his annual chairman’s letter and noted the significance of America’s 250th anniversary this year, drawing a parallel to a similar milestone for the modern economy. “In July, the United States will celebrate the country’s 250th birthday. But 2026 is more than an American celebration,” Fink…
Oil prices have surged more than 40% since the start of the Iran conflict, rattling global energy markets and raising concerns that U.S. drivers could see further increases at the pump. Analysts say consumers may not have felt the full impact yet, as higher crude costs typically take weeks to…
BlackRock CEO Larry Fink discussed possible Social Security reforms that would allow more Americans to benefit from the growth in the stock market while also ensuring the program is strengthened so it can survive to serve future generations. Fink’s recently released annual chairman’s letter touched on how Social Security is “one…
Tax season is in full force as the deadline to file or request an extension is less than three weeks away, and some Americans who have already filed their returns are waiting to receive a refund from the IRS. Nearly 70 million taxpayers filed their returns as of March 13 and…
The impact of the Iran war on global oil prices could push the rate of inflation facing U.S. consumers higher, which would leave Federal Reserve policymakers in a difficult spot as they weigh possible interest rate cuts. An analysis by economists at Goldman Sachs projected that Brent crude oil prices, a common…
BlackRock CEO Larry Fink warned in his annual chairman’s letter that wealth inequality could worsen if more people don’t participate in financial markets to reap the benefits of investing. Fink said that the vast majority of wealth has flowed to people who own assets, as opposed to those who earned…
Mortgage rates spiked this week as the conflict in Iran continues to weigh on markets, 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 6.38% from last week’s reading of 6.22%. The average…
Editor's Pick
