The Federal Reserve’s preferred inflation gauge showed that prices increased slightly in June as the central bank continues to monitor for signs of tariff-induced inflation impacting consumers. The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.3% on a monthly basis and 2.6% from a year ago,…
American distillers are keeping a close eye on trade talks as Canada and Mexico have until Friday to reach deals with the U.S. President Donald Trump on Sunday levied a 15% tariff on most products imported from the 27-nation European Union. Prior to the deal, the European Union faced a…
The Federal Reserve on Wednesday announced that it will leave its benchmark interest rate unchanged, as policymakers decided to hold rates steady amid elevated economic uncertainty as they continue to monitor inflationary pressures and labor market data. The central bank’s decision leaves the benchmark federal funds rate at a range…
Meta CEO Mark Zuckerberg on Wednesday announced the tech giant will focus on developing a personal superintelligence for everyone, which will further enable creative and leisurely pursuits. Zuckerberg discussed the path forward for Meta’s artificial intelligence (AI) push in a video published on Facebook and Instagram, two of the main social media…
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The United States has a copper problem. Simply put, the U.S. uses a lot of it and there aren’t enough…
General Motors’ net income shrank 35% in the second quarter despite strong sales gains as President Trump’s automotive tariffs weighed…
Bitcoin hit a record high on Monday amid investors’ optimism that the cryptocurrency may soon have more regulatory certainty with…
The average net worth that Americans feel is needed to qualify as wealthy has surprisingly declined, compared to last year,…
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Spirit Airlines is preparing to furlough 270 pilots this fall. The furloughs will go into effect on November 1, the budget-friendly airline said on Monday. An additional 140 pilots will be demoted on October 1, as the cash-strapped carrier looks to scale down its workforce…
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Dispatches from SuperReturn Berlin and the Inovia VC Summit “It was the best of times, it was the worst of times.” On the…
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The makeover of the Federal Reserve’s Washington D.C. headquarters, the Marriner S. Eccles Building, has become a lightning rod for Chairman Jerome Powell already under fire from President Donald Trump, U.S. Treasury Secretary Scott and others for not cutting interest rates. Some of his critics have compared the over-budget project…
Renting in Santa Cruz, California now requires a stifling income of more than $168,000 just to rent a two-bedroom, a figure that makes it the most unaffordable market in the nation for the third year in a row. In the Santa Cruz area, located on the Central Coast about 75…
The Federal Reserve on Thursday responded to the Trump administration’s inquiry into cost overruns in the central bank’s renovations of its Washington, D.C., headquarters amid its efforts to pressure the Fed into lowering interest rates. The Fed’s renovations of its headquarters, the Marriner S. Eccles Building, and another building in the…
According to a J.P. Morgan research note, President Donald Trump’s efforts to pressure the Federal Reserve into cutting interest rates could risk undermining the central bank’s independence, raising the risk of inflation or politically-influenced monetary policy mistakes. Trump has repeatedly urged the central bank to cut interest rates by as much…
A federal judge has blocked construction of a 314-acre mixed-use development project in California after environmental groups filed a lawsuit arguing it would “result in a significant loss of local wetland and vernal pool habitats” and threaten species, including a rare and endangered flower. The ruling from Daniel Calabretta surrounding…
Transportation Secretary Sean Duffy terminated $4 billion in unspent federal funding for California’s high-speed rail project Wednesday, citing around $15 billion spent without a single high-speed track laid down. The total cost of the project, estimated to be around $135 billion, could buy every resident of San Francisco and Los Angeles…
United Airlines was bullish on Wednesday about a “strong finish” to the year as the carrier saw demand begin to rise earlier in the month amid decreased uncertainty. The Chicago-based airline said in its second-quarter earnings report that demand posted a “sequential 6-point” acceleration beginning in early July, with business…
Labor Secretary Lori Chavez-DeRemer said the H-2A migrant visa program that is being consolidated under her department allows American farmers and ranchers to have access to the workforce they need, noting that the program will now be faster and more affordable. In an exclusive interview with Fox Business’ Edward Lawrence,…
President Donald Trump is reportedly preparing to sign an executive order that would expand access to private-market investments in retirement accounts. The Wall Street Journal reported, citing people familiar with the matter, that the order would direct the Labor Department and Securities and Exchange Commission to develop regulatory guidance for employers and…
Passengers aboard a United Airlines flight say they were stuck on the tarmac at Newark Liberty International Airport for seven hours before their flight was canceled when severe weather sparked delays at airports along the East Coast on Monday evening. Flavia Deluczas told WXYZ-TV that she was among dozens of passengers…
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