Money News Watch | Latest Business and Finance News and Updates
Inspector general finds no misconduct in Federal Reserve renovations
US natural gas production forecast to hit record high this winter
Treasury moves to automatically enroll millions of children in Trump Accounts
August PCE: Fed’s favored inflation gauge rose less than expected
US economy grew 2.2% in Q2, Commerce Department report shows
NewsPrice cuts hit a record high in September as mortgage rates climb
Homebuyers are still facing affordability headwinds due to elevated mortgage rates despite sellers increasingly cutting prices, a new report from Realtor.com shows. Realtor.com’s latest monthly housing report showed that the share of listings with price cuts…
NewsMore than 2,300 pounds of breakfast sausage recalled over plastic risk
A recall was issued for more than 2,300 pounds of raw, frozen pork breakfast sausage over a potential plastic contamination, according to federal officials. Illinois-based Fontanini Foods LLC recalled about 2,320 pounds of raw, frozen pork breakfast sausage…
MarketsDisney reportedly cuts hundreds of jobs across HR, technology
Disney is reportedly laying off a few hundred employees across multiple departments at the entertainment giant. Citing a source familiar with the matter, Reuters reported that Disney is laying off a few hundred employees in the company’s human resources and…
NewsGenerational transitions pose challenges to family-owned businesses, experts say
Family-owned businesses play a major role in the economy and founders face difficult decisions when it comes time to consider passing it down to the next generation, experts said in a new podcast. The latest episode of Goldman Sachs Exchanges discussed how…
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Personal FinanceWhat the Fed’s first rate hike in years means for your wallet
The Federal Reserve’s first interest rate hike in more than three years is likely to increase borrowing costs for many consumers, particularly those carrying variable-rate debt such as credit cards and home equity lines of credit. Earlier this month, the Fed…
MarketsTesla Semi deliveries begin with PepsiCo and DHL as first customers
Tesla on Thursday announced that the electric vehicle maker was beginning deliveries of its Semi trucks to customers this week. Executives at Tesla’s plant in Sparks, Nevada, made the announcement that the first customers will take delivery of the electric…
MarketsMcDonald’s pledges $8.5B in franchisee support for modernization plan
McDonald’s on Wednesday announced new details as part of its long-term growth strategy, which will include a focus on upgrading restaurants and staff training, at an investor day at the corporate headquarters in Chicago. The fast food giant announced its NEXT…
MarketsHigher jet fuel prices prompt airlines to adjust flight schedules
Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules. The global average jet fuel price rose 6.1% week over week to…
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NewsDeficit reduction could lower inflation and interest rates, CRFB finds
Curbing the federal government’s roughly $2 trillion budget deficit would help reduce the affordability challenges American households are facing, a new analysis finds. The nonpartisan Committee for a Responsible Federal Budget (CRFB) published a report on…
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Richmond Fed’s Tom Barkin says inflation risks may drive more hikes
The Federal Reserve’s decision to raise interest rates last week may mark the first of several hikes aimed at taming stubborn inflation, and one central bank leader weighed in on where inflation may go from here. Federal Reserve Bank of Richmond President Tom…
FAA resumes Northeast airport operations after telecom outage
Transportation Secretary Sean Duffy said Monday evening that telecommunications lines have been repaired and airport operations across the Northeast are resuming, though travelers should continue to expect delays. “The telecom lines have been repaired, and…
Florida Chamber launches Chicago billboards targeting Gov. Pritzker
EXCLUSIVE: Whether heading into Chicago or leaving it behind on the Stevenson Expressway, commuters are driving past a new billboard campaign from Florida’s top business lobby. Expanding its multimillion-dollar recruitment campaign into the Midwest, the…
2027 Social Security COLA projected at 3.6% by AARP after CPI data
Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) in 2027 than they received for this year, according to new estimates that follow the release of August inflation data. By law, the annual Social Security COLA is…
FAA outage snarls flights at Newark, JFK, LaGuardia airports
An Amtrak construction crew accidentally cut a fiber-optic line in New Jersey, triggering a telecommunications outage that forced the Federal Aviation Administration (FAA) to pause flights across parts of the Northeast, Transportation Secretary Sean Duffy…
Equipment outage grounds flights at Newark, JFK and LaGuardia airports
An equipment outage has grounded planes at some major airports in New York, New Jersey and Pennsylvania on Monday, the Federal Aviation Administration (FAA) said. “The FAA is pausing flights into Philadelphia International, Teterboro and Newark Liberty…
Volkswagen recalls 208K SUVs over faulty steering rack bolt defect
Volkswagen Group of America is recalling more than 208,000 vehicles in the U.S. over a steering rack mounting bolt that can corrode and break, potentially causing a loss of steering control. The recall affects a total of 208,724 SUVs, including certain 2018…
California wealth tax could push billionaires out, entrepreneur warns
California entrepreneur Eric Schiffer warned that the state’s proposed billionaire wealth tax could drive some of its most successful business leaders out of California, predicting a “giant sucking sound” of entrepreneurs heading for the exits if voters…
September FOMC: Federal Reserve hikes interest rates for first time since 2023
This story about the September 2026 FOMC meeting will be updated with further details. The Federal Reserve on Wednesday raised its benchmark interest rate for the first time in over three years amid concerns over stubborn inflation that has been driven…
EU proposes unprecedented ‘associate member’ status for Canada amid US trade dispute
European Commission President Ursula von der Leyen on Wednesday proposed opening the door for Canada to become the European Union’s first “associate member,” a significant step that could bring Ottawa substantially closer to the bloc as its trade dispute with…