News
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…
So Delicious non-dairy dessert recalled over possible stones, hard objects
A recall has been issued for So Delicious Dairy Free Salted Caramel Cluster Non-Dairy Frozen Dessert pints over the potential presence of foreign materials, including small stones and other hard objects, within the cashew inclusions. Danone USA announced the…
Federal Reserve expected to hike interest rates 25 basis points at FOMC meeting
The Federal Reserve is holding a closely watched monetary policy meeting this week as the market expects the central bank to hike interest rates amid concerns about stubborn inflation. Policymakers have held interest rates steady at all five meetings held by…
Costco motor oil price jumps to $58 with new weekly purchase limit
Costco has raised the price of motor oil sold under its exclusive private-label Kirkland brand and is now limiting how much customers can purchase weekly amid rising oil prices. A 10-quart case of Kirkland Signature full synthetic motor oil is now $58…
August CPI inflation: Consumer price growth remained elevated
Inflation remained elevated in August even as the pace of consumer price growth from a year ago remains elevated, as the Federal Reserve considers a potential interest rate hike next month. The Bureau of Labor Statistics (BLS) said on Wednesday that the…
Iran war costs US households $860 more in gas prices, economist says
American consumers are facing higher costs as the war in Iran pushes energy prices higher, with U.S. households having spent over $100 billion more this year due to elevated gasoline and diesel prices, an economist says. Mark Zandi, chief economist at Moody’s…
Treasury announces $6B buyback of 10-year notes and 20-year bonds
The Treasury Department on Wednesday revealed that it will buy back up as much as $6 billion in longer-dated U.S. debt in an operation this week. The agency’s Bureau of the Fiscal Service announced that it will purchase up to $6 billion in 10-year notes and…
Duffy warns Ford over China ties, cites national security concerns
Transportation Secretary Sean Duffy is accusing Ford Motor Co. of becoming too dependent on Chinese companies, warning CEO Jim Farley that the automaker’s business ties to China threaten U.S. national security and American manufacturing. In a letter sent…
Housing market cools as price per square foot falls for 10th month
The housing market is cooling as summer draws to a close and begins to transition into fall, with some cities around the U.S. seeing larger price decreases to attract buyers. Home sellers are moving to meet buyers in the middle with price reductions as high…