IRS issues most tax refunds in 3 weeks as 2026 filing season begins

Tax season officially began last week and American taxpayers who are due to receive tax refunds are likely to see them reach their accounts within a few weeks, depending on how they filed their returns. The IRS announced that Jan. 26 was the official start of the tax filing season, allowing taxpayers…

January jobs report delayed by government shutdown

The partial government shutdown that began on Saturday morning is set to delay the release of the January jobs report that was slated for publication this week. The Bureau of Labor Statistics said Monday that the January jobs report, which was originally scheduled for release on Friday, will be delayed…

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President Donald Trump cools to 401(k) housing down payment proposal

President Donald Trump on Thursday said he’s “not a huge fan” of a proposal his administration is developing that would allow prospective homebuyers withdraw from their 401(k) retirement accounts for a down payment. “I’m not a huge fan,” Trump told reporters on Air Force One while preparing to return from his…

AI infrastructure buildout boosts construction worker pay, Nvidia CEO says

Nvidia CEO Jensen Huang said that the build-out of infrastructure to support the artificial intelligence (AI) technology boom is boosting the salaries of construction trade workers who are involved with those projects. The Nvidia co-founder spoke at the World Economic Forum in Davos, Switzerland, and was asked by BlackRock CEO Larry Fink,…

FDA upgrades cookie recall to most serious risk category over undeclared peanuts

The Food and Drug Administration announced that a recall of cookie products has been upgraded to its most serious risk category over the potential presence of undeclared peanuts. Gregory’s Foods first issued a recall last month of its 2-pound 8.5-ounce packages of “Bag Full of Cookies” White Chocolate Macadamia Nut…

Elon Musk says Tesla Optimus robots for public sale by end of 2027

Tesla CEO Elon Musk said Thursday the company is planning to make its Optimus robots available for sale to the public by the end of 2027. Musk spoke at the World Economic Forum in Davos, Switzerland, and was asked during a discussion with BlackRock CEO and interim WEF co-chair Larry Fink…

Mortgage rates rise to 6.09%: Freddie Mac

Mortgage rates ticked higher this week but remain the lowest in three 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 rose to 6.09% from last week’s reading of 6.06%. The average rate on…

November PCE: Report shows inflation remained elevated

The Federal Reserve’s preferred inflation gauge showed that consumer prices remained elevated in November, ahead of the central bank’s policy meeting next week. The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.2% in November on a monthly basis and is up 2.8% from last year. While…

US economy grew 4.4% in Q3, Commerce Department report shows

The U.S. economy grew at a faster pace than expected in the third quarter, according to the Commerce Department’s estimate. The Bureau of Economic Analysis (BEA) on Thursday released its final reading of third-quarter GDP, which showed the economy grew at an annualized rate of 4.4% in the three-month period including July,…

Major dairy companies recall baby formula due to cereulide contamination fears

Three of the world’s largest dairy companies are recalling and blocking batches of infant milk formula due to the possible contamination of cereulide, a toxin that can cause nausea and vomiting. The contamination scare started with Nestle and extended on Wednesday to French groups Danone and Lactalis.Nestle recalled batches of…

Trump restricts Wall Street home buying as investors warn of higher prices

President Donald Trump’s push to restrict Wall Street investors from buying up single-family homes in the name of promoting affordability could have the opposite effect and push prices higher, investors are warning. Trump signed an executive order on Tuesday that directs federal regulators to promote home sales to individuals and to…

GameStop shutting 30 stores in New York as part of nationwide closures

GameStop is shutting down roughly 30 stores in New York as part of a nationwide shuttering that will impact at least 470 locations by the end of the month, according to an online compilation of the closures. The shutdowns in the Empire State impact stores throughout the state, including in…