Tariff refunds have begun reaching U.S. companies after a Supreme Court ruling earlier this year found some tariffs unconstitutional. Firms like Oshkosh Corporation and Basic Fun confirmed they have started receiving partial payments, though the total refund amounts are still being calculated. Logistics companies such as UPS, FedEx, and DHL are helping process claims, which could ultimately total over $35 billion according to U.S. Customs … Continue reading Companies start getting tariff refunds after Supreme Court decision

Japanese snack company Calbee will temporarily switch to black-and-white packaging for some products after disruptions to ink-related materials caused by the Iran war and resulting supply chain issues. The company said 14 products, including crisps and prawn crackers, will be affected starting in late May as it tries to maintain stable supply. The disruption stems from wider global shortages of oil-derived materials like naphtha, which … Continue reading Snack giant switches to black and white packaging as Iran war hits ink supplies

Consumer prices rose faster than expected in April, with inflation climbing 0.6% for the month and 3.8% over the past year, driven largely by surging energy and gasoline costs. Core inflation, which excludes food and energy, also remained elevated at 2.8%, well above the Federal Reserve’s 2% target. Rising costs in housing, airfare, and other tariff-sensitive goods added to inflation pressures, while wages failed to … Continue reading Consumer prices rose 3.8% annually in April

Sales of previously owned U.S. homes were nearly unchanged in April, rising just 0.2% from March and coming in below analyst expectations, according to the National Association of Realtors. The flat performance reflects deals likely made when mortgage rates were higher and volatility increased following geopolitical tensions that pushed borrowing costs up. Housing supply edged slightly higher but remained tight at 4.4 months, well below … Continue reading April home sales disappoint as higher mortgage rates weigh on buyers

Amazon says it will stop allowing sales in California of certain high-speed e-bikes that exceed state limits, following several deadly crashes and increased safety concerns. The move comes after state officials, including Attorney General Rob Bonta, issued guidance calling for stricter speed limits and clearer distinctions between e-bikes and higher-powered electric motorcycles. Safety advocates say the changes could help reduce confusion over e-bike classifications and … Continue reading Amazon says it won’t sell e-bikes in California that exceed state speed limits

Texas Attorney General Ken Paxton filed a lawsuit against Netflix, accusing the company of secretly tracking users, including children, and using addictive platform design features to keep viewers engaged. The state alleges Netflix misled consumers by claiming it did not collect or share user data while allegedly selling viewing habits to advertisers and data brokers for profit. The lawsuit also claims Netflix uses “dark patterns,” … Continue reading Texas accuses Netflix of spying on children in new lawsuit

General Motors has agreed to pay $12.75 million to settle allegations that it illegally sold the location and driving data of hundreds of thousands of California drivers to data brokers without their consent. California Attorney General Rob Bonta said the automaker collected sensitive information through its OnStar system and shared it between 2020 and 2024 despite telling customers it would not sell such data. Regulators … Continue reading General Motors to pay $12.75m settlement for selling drivers’ location and data

Spring & Mulberry has expanded an ongoing recall of chocolate bars due to potential salmonella contamination, following an investigation that traced the issue to a single ingredient lot. The company and the U.S. Food and Drug Administration say the affected products were sold nationwide since August 2025, though no illnesses have been reported and tests have been negative so far. Consumers are being advised not … Continue reading More chocolate bars added to nationwide recall over possible contamination

Saudi Aramco reported a 26% rise in first-quarter profits, reaching $33.6 billion and beating analyst expectations. The company credited the strong performance partly to its East-West Pipeline, which reached full capacity and helped bypass disruptions in the Strait of Hormuz. Ongoing regional conflict and Iran-linked shipping disruptions have tightened global oil supply and pushed prices sharply higher. Despite market volatility, Aramco increased its dividend and … Continue reading Saudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity

Cloudflare reported strong first-quarter earnings that beat Wall Street expectations for both revenue and profit, driven by 34% year-over-year revenue growth. Despite the positive results, shares dropped sharply after the company announced it would cut about 20% of its workforce, or more than 1,100 jobs, citing the impact of AI on its operations. CEO Matthew Prince said the shift to an “AI-first” model has fundamentally … Continue reading Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees

Oil prices rose on Friday after the United States and Iran exchanged fire in the Strait of Hormuz, raising fears that a fragile ceasefire between the two countries was breaking down. Brent crude and U.S. West Texas Intermediate both climbed as tensions threatened disruption to one of the world’s most important oil shipping routes. The flare-up came amid ongoing accusations from both sides and uncertainty over a possible U.S.–Iran peace … Continue reading Oil resumes rally as U.S.-Iran fire exchange rattles fragile ceasefire

A recall has been issued for certain flavors of Zapp’s and Dirty Potato Chips due to a possible salmonella contamination linked to a seasoning ingredient. The U.S. Food and Drug Administration said multiple chip varieties, including salt and vinegar, cheddar-style, and sour cream and onion, may be affected and advised consumers not to eat them. Although initial testing of the seasoning showed no contamination, officials … Continue reading FDA recalls 9 popular potato chips over potential salmonella contamination

Warner Bros. Discovery reported a $2.9 billion net loss for the first quarter, driven largely by acquisition-related accounting costs, restructuring expenses, and a $2.8 billion termination fee tied to a failed deal involving Netflix. Revenue fell slightly year over year, though adjusted earnings increased, and the company continues to carry significant debt. Streaming was a bright spot, with strong subscriber growth and rising revenue from … Continue reading Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal

Delta Air Lines announced it will end food and beverage service on flights under 350 miles starting May 19, except for first-class passengers. The airline said the change is meant to create a more consistent service experience across its network, affecting about 9% of its flights. Some passengers on longer routes and in certain cabins will see expanded food and drink options under the new … Continue reading Delta ending food and beverage service on shorter flights

AMD reported strong first-quarter results, with revenue up 38% to $10.3 billion and earnings exceeding Wall Street expectations. Its data center segment grew 57%, though profit margins came in slightly below forecasts. The company issued upbeat second-quarter guidance, helping drive its stock higher in after-hours trading. CEO Lisa Su highlighted strong demand for AI computing and projected significant growth in AMD’s AI data center business … Continue reading AMD Stock Soars on Strong Earnings and Growing Confidence About AI

Palantir reported strong first-quarter earnings that exceeded Wall Street expectations, with revenue rising about 85% to $1.63 billion and adjusted earnings per share of 33 cents. Net income nearly quadrupled from a year earlier, and the company also raised its full-year revenue and cash flow forecasts above analyst estimates. CEO Alex Karp said the company’s results reflect exceptional growth, highlighting high revenue per employee and … Continue reading Palantir tops estimates on 85% revenue growth, fastest expansion since market debut

Oil prices surged sharply after renewed violence in the Strait of Hormuz raised fears that the fragile U.S.–Iran ceasefire could collapse. Brent crude rose nearly 6% to above $114 a barrel as markets reacted to reports of attacks on commercial shipping and U.S. strikes on Iranian boats, though Iran denied some of the claims. Despite U.S. efforts to secure the waterway, shipping companies remain hesitant … Continue reading Oil prices surge as violence flares in Strait of Hormuz

GameStop’s shares dropped more than 10% after the company announced a surprise $55.5 billion bid for eBay, raising concerns about how the deal would be financed. CEO Ryan Cohen faced repeated questions about funding but gave unclear responses, while the company proposed using cash, stock, and debt financing to structure the offer. Analysts noted a significant gap between GameStop’s valuation and the total value of … Continue reading GameStop shares fall 10% after CEO skirts questions over eBay acquisition details

OPEC+ agreed to increase oil production by 188,000 barrels per day starting in June, slightly less than its previous monthly increase, as it continues coordinated output adjustments among major producers. The decision comes during ongoing global supply disruptions linked to the Iran conflict, which has affected key shipping routes like the Strait of Hormuz and pushed oil prices higher. The meeting was the first since … Continue reading OPEC+ announces 188,000 barrels-per-day output increase

Spirit Airlines has nearly completed refunding customers after abruptly shutting down operations and canceling thousands of flights over the weekend. The budget carrier said it was forced to fold after years of financial struggles and a sharp rise in jet fuel prices, which it says worsened its outlook. The airline had already filed for bankruptcy twice and failed to secure new funding or a rescue … Continue reading Spirit Airlines says it has nearly finished refunding customers after shuttering

GameStop has made an unsolicited $55.5 billion cash-and-stock offer to acquire e-commerce company eBay, valuing it at $125 per share. GameStop CEO Ryan Cohen said the deal would generate about $2 billion in annual cost savings and significantly reduce marketing spending at eBay. He would lead the combined company and be compensated based on performance rather than salary or bonuses. The proposal is partially backed … Continue reading GameStop makes $55.5bn takeover offer for eBay

The United Arab Emirates has officially exited OPEC, a move experts say could weaken the cartel’s ability to control global oil prices and is likely to be welcomed by the United States. The UAE has long expressed frustration with OPEC production limits, saying they restricted its ability to sell increased output despite investments to expand capacity. Analysts say the country could eventually add up to … Continue reading UAE exit from OPEC signals closer alignment with US interests

Exxon Mobil and Chevron reported lower first-quarter profits despite surging global oil prices driven by disruptions from the Iran war. Exxon’s earnings fell about 46% year-over-year and Chevron’s about 37%, though both companies still beat Wall Street expectations. The declines were largely attributed to timing issues and delayed oil shipments in the Middle East, which postponed revenue recognition. Despite the short-term drop, both firms are … Continue reading Exxon and Chevron quarterly earnings fall despite soaring oil prices

U.S. consumers faced rising prices in March as oil costs surged due to the Iran war, pushing inflation higher, according to the U.S. Department of Commerce. Core inflation rose to 3.2%, its highest level since late 2023, while overall inflation reached 3.5%, driven largely by energy prices. The economy grew at a modest 2% annualized rate in the first quarter, slightly below expectations despite strong … Continue reading Core inflation rate hit 3.2% in March

New U.S. jobless claims fell sharply to 189,000 last week, the lowest level in more than 50 years, according to the U.S. Department of Labor. The decline suggests layoffs remain very low despite economic uncertainty tied to higher energy prices and the ongoing Iran war. Economists note the labor market is in a “low-hire, low-fire” state, with hiring slowing but job losses also limited. Inflation … Continue reading U.S. jobless claims fall to lowest in more than five decades