Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) in 2027 amid persistently high inflation this year, a new report finds. An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.8%, or 1 percentage point higher than the 2026 COLA of…
California consumers could soon see higher grocery bills as the state begins implementing a sweeping packaging law that shifts recycling costs from taxpayers to manufacturers – expenses some businesses warn could eventually be passed on to shoppers. Beginning next month, California will start collecting preliminary fees under the state’s Plastic…
JPMorgan Chase Chairman and CEO Jamie Dimon is validating the growing frustration of working-class Americans, admitting in a recent interview that he completely understands why many have grown “anti-rich.” The Wall Street billionaire argued that decades of ineffective public policies have left lower-income families behind in struggling rural areas and…
Federal Reserve Chair Kevin Warsh on Tuesday told House lawmakers that the central bank’s policymakers have “no tolerance for persistently elevated inflation” in his first testimony as Fed chief. Warsh said in his prepared testimony for the House Financial Services Committee that concerns about inflation influenced the Fed’s decision to hold the…
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SpaceX has been fast-tracked into the Nasdaq-100 Index, meaning the stock performance of Elon Musk’s rocket company is now directly…
Toyota is investing $3.6 billion to expand its San Antonio, Texas, assembly plant, a move expected to create about 2,000…
Costco’s iconic $4.99 rotisserie chicken has earned a cult-like following among shoppers for years, but Consumer Reports says Sam’s Club…
Tesla reported strong second-quarter deliveries Thursday, blowing past Wall Street expectations as a rebound in Europe helped fuel hopes that…
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American consumers hoping for a swift end to years of inflationary pressures are facing a harsh reality check. While recent relief at the gas pump offered a temporary reprieve, corporate supply chain strains and the lingering effects of global trade and geopolitical shocks are expected…
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More than 13,000 air conditioning units were recalled for posing fire and burn hazards, as Americans attempt to stay cool during a heatwave for the Fourth of July weekend. Texas-based Daikin Comfort Technologies Manufacturing, Inc. issued the recall last week for about 13,514 Amana Window-Room-Air-Conditioners and Through the Wall air…
Chinese e-commerce giant Alibaba has agreed to pay $600 million and enter into a non-prosecution agreement with the Department of Justice (DOJ) after admitting it failed to prevent tens of thousands of illegal product sales into the U.S. through its online marketplaces. The DOJ announced Wednesday that Alibaba Group Holding…
The Trump administration’s announcement that it doesn’t plan to renew the U.S.-Mexico-Canada Agreement (USMCA) and instead intends to pursue individual trade agreements with its two neighbors. Wednesday marked the sixth year of the USMCA being in effect, a milestone which gave the administration the option of extending the agreement as…
Home listing prices are declining at the fastest pace in at least nine years as sellers adjust to a slower market and look to attract buyers. The national median asking price fell 2.5% in June compared with a year ago, declining to $430,000 based on the latest data from the…
While Wall Street prepares for the prospect of a more aggressive Federal Reserve, Bank of America CEO Brian Moynihan has a reassuring message for anxious investors. Despite Bank of America’s issuing the most hawkish forecast on Wall Street — predicting three interest rate hikes under Federal Reserve Chair Kevin Warsh…
President Donald Trump on Wednesday said that Taiwan is doubling the size of the chipmaking plants under construction in Arizona, adding that it could help the U.S. share of the chip market rise to 50% by the end of his term. “We’re creating more jobs, we have more people working…
Companies in the private sector added 98,000 jobs in June, payroll processing firm ADP said in its latest report on Wednesday. The figure is below economists’ estimates of a gain of 118,000 jobs and down from the prior month’s unrevised 122,000 payrolls figure.Which industries are hiring the most workers, according…
The Bureau of Labor Statistics has taken steps to address issues that led to the release of key economic data at improper times in 2024, though a watchdog said it has more work to do in establishing safeguards. A report by the Labor Department’s inspector general looked at a trio…
The Department of Transportation on Tuesday announced that regulators are moving toward enabling civilian supersonic flights over the continental U.S., which have been banned for decades due to sonic booms. The Federal Aviation Administration (FAA) proposed a rule that sets a noise-based certification standard for supersonic aircraft and signaled that…
Americans preparing to hold a Fourth of July barbecue this weekend will face higher costs for their burgers and hot dogs amid stubborn inflation, a new report finds. The American Farm Bureau Federation’s Summer Cookout Cost Survey finds that in 2026, a classic Fourth of July cookout for 10 people…
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