Americans are facing rising electricity costs around the country as winter weather and the rise of artificial intelligence (AI) data centers increase demands on the electric grid. Electricity prices have risen faster than the pace of inflation in the last year. January consumer price index (CPI) data from the Bureau of…
Mortgage rates fell below 6% this week for the first time in three and a half years, 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 fell to 5.98% from last week’s reading of…
American Express has announced plans for the construction of a 55-floor building at 2 World Trade Center in New York City. It is anticipated that the building project will be finished in 2031, the company noted. Construction is slated to start in spring of this year.”Spanning nearly two million square…
British luxury automaker Aston Martin said on Wednesday that it will cut up to 20% of its workforce as tariff and regulatory headwinds along with a challenging market backdrop weigh on the business. The company said the cuts will result in an annualized savings of about 40 million pounds ($54…
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Public Storage is relocating its headquarters from California to Texas, becoming the latest major corporation to shift its official base…
The nation’s largest retailer of used cars, CarMax, will pay at least $420,000 to resolve allegations that it repossessed vehicles…
Johnson & Johnson on Wednesday announced plans to invest more than $1 billion in a next-generation manufacturing facility that will…
Walmart posted solid fourth-quarter results Thursday as shoppers continued prioritizing value and convenience, helping push online sales to a record…
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A company that makes self-defense products has spent the last few years moving much of its manufacturing to the U.S. and is finding the benefits extend beyond having the ability to put a “Made in America” label on their products. Byrna Technologies, which makes non-lethal…
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The Supreme Court on Friday struck down a significant portion of the Trump administration’s tariffs that the justices found the tariffs were imposed illegally under an emergency economic powers law. The Court issued a 6-3 ruling that held President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) was…
More than 5,000 deadly work injuries were recorded in the U.S. in 2024, according to the U.S. Bureau of Labor Statistics, with truck drivers and construction trades workers accounting for a large proportion. “There were 5,070 fatal work injuries recorded in the United States in 2024, down 4.0 percent from…
The Federal Reserve’s preferred inflation gauge remained elevated in December as price pressures continued to pose a challenge for consumers. The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.4% in December on a monthly basis and is up 2.9% from a year ago. Those figures were…
The U.S. economy grew at a much slower than expected pace in the fourth quarter, according to new data released on Wednesday. The Commerce Department’s Bureau of Economic Analysis (BEA) released its advance estimate for fourth quarter gross domestic product (GDP), which found the U.S. economy grew at an annual…
A new analysis found that payments made by U.S.-based midsize businesses to firms in China dropped significantly last year as tariffs on Chinese imports rose under the Trump administration. The JPMorgan Chase Institute released a report Thursday that found payments made by midsize firms to China declined significantly, falling by about…
The Trump administration is stepping up its push to reinvigorate the U.S. coal industry as it pursues its goal of boosting energy security. Last week, the Department of Energy announced it would provide $175 million in funding for projects to modernize, retrofit and extend the useful life of six coal-fired power plants…
Mortgage rates dropped this week to the lowest level since September 2022, 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 fell to 6.01% from last week’s reading of 6.09%. The average rate on a…
White House economic advisor Kevin Hassett on Wednesday called for the New York Federal Reserve to punish economists who published a research paper that found that the bulk of the burden of the Trump administration’s tariffs are falling on U.S. businesses and consumers. “The paper is an embarrassment. It’s, I think,…
Federal Reserve policymakers were mostly in agreement on the decision to leave interest rates unchanged despite two calling for cuts, though several signaled that rate hikes could be on deck if inflation remains elevated. The minutes for the January meeting of the Federal Open Market Committee (FOMC), the Fed’s monetary…
Renters are expected to see some relief from rising prices this year, with the pace of rent growth expected to slow as the market stabilizes and a measure of affordability hits a four-year-high. An analysis by Zillow projects that multifamily rental prices are expected to remain relatively flat through the end…
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