NJ Transit engineers began their first strike in over 40 years at 12:01 a.m. Friday, halting rail service for 350,000 commuters after contract talks over higher wages failed. The Brotherhood of Locomotive Engineers and Trainmen rejected NJ Transit’s latest offer, with 87% voting against it. Both sides say they’re ready to resume negotiations, with new talks set for Sunday involving federal mediators, NBC 4 New … Continue reading No NJ Transit trains running as engineers strike for first time since 1983

U.S. consumer sentiment dropped to 50.8 in May—its second-lowest level on record—as worries about inflation and tariffs grew, according to a University of Michigan survey. Short- and long-term inflation expectations both rose, with nearly 75% of respondents citing tariffs as a concern. The survey was mostly completed before the U.S. and China announced a 90-day tariff pause, which may affect future sentiment, CNBC has reported. … Continue reading Consumer sentiment slides to second-lowest on record

Moody’s downgraded the U.S. credit rating on Friday, citing rising debt, growing interest payments, and inadequate revenue, marking the last major rating agency to strip the U.S. of its top-tier status. The move, seen as a blow to the Trump administration, comes amid GOP debates over extending Trump’s 2017 tax cuts and growing fiscal deficits. Moody’s warned that current proposals won’t reverse long-term budget problems. … Continue reading Moody’s downgrades US credit, citing rising debt

Burberry plans to cut up to 1,700 jobs—nearly 20% of its global workforce—by 2027 as part of a cost-cutting strategy following a £66 million loss last year. Most cuts will affect head office staff, mainly in the UK, and night shifts at its Castleford factory will be eliminated. The company aims to save £100 million annually by improving efficiency across operations, procurement, and real estate, … Continue reading Burberry to cut 1,700 jobs as designer suffers heavy losses

Nvidia and AMD have partnered with Saudi AI firm Humain to supply chips for a massive AI data center project backed by Saudi Arabia’s Public Investment Fund. The $10 billion initiative aims to establish the Kingdom as a global AI leader by deploying 500MW of computing power over five years, including tens of thousands of Nvidia GPUs and AMD-based systems. The first phase includes an … Continue reading Nvidia and AMD partner with Humain to develop AI data centres

Egg prices dropped 12.7% in April—the first decline in months—after surging due to a historic avian flu outbreak that has affected 168 million birds since 2022. Prices had spiked to over $6 a dozen in March but fell to about $5.12 in April, still far above the $2.86 seen last year. The crisis became a major political issue during the 2024 election, with then-candidate Trump … Continue reading Egg prices decline for first time in months