The Bank of England is expected to cut interest rates by 0.25% to 4% this week, aiming to support the weakening UK economy amid rising unemployment and global trade disruption caused by new U.S. tariffs under President Trump. It would be the fifth cut since last August. The UK economy has shrunk for two consecutive months, and job vacancies and wage growth are falling. Despite … Continue reading Bank of England forecast to cut interest rates amid rising unemployment and Trump tariffs

Switzerland is seeking to negotiate with the U.S. after the Trump administration unexpectedly announced a 39% tariff on Swiss goods—more than double the rate for most EU imports. The tariffs, set to take effect August 7, could severely impact key Swiss industries like manufacturing and watchmaking. Swiss officials expressed disappointment, calling the move unjustified despite ongoing bilateral talks. The U.S. cited Switzerland’s refusal to drop … Continue reading Switzerland says ‘disappointed’ by Trump tariffs, will try to negotiate

Boeing faces its second strike in a year as 3,200 union machinists in the St. Louis area walked off the job Monday after rejecting a revised contract offer. The strike affects three defense plants and follows a failed deal that included 40% raises over four years. Union leaders say workers deserve a contract that reflects their skill and supports their families, CNN has reported. The … Continue reading Boeing’s second strike in less than a year begins at three defense plants

President Donald Trump fired Erika McEntarfer, the head of the Bureau of Labor Statistics, shortly after weak job growth data was released, sparking accusations of politicizing economic data. Trump claimed that McEntarfer had rigged employment figures to harm his image and help Democrats, calling the numbers “rigged.” Critics accused him of “firing the messenger” and undermining trust in federal statistics. McEntarfer, a respected economist confirmed … Continue reading Trump fires labor statistics chief hours after data showed jobs growth slowed

Federal Reserve Governor Adriana Kugler announced her resignation Friday, creating a key vacancy as President Trump pushes for lower interest rates. Kugler, a Biden appointee, will return to Georgetown University this fall and gave no specific reason for stepping down. Her departure gives Trump a chance to nominate a Fed governor aligned with his pro-rate-cut stance. Kugler’s term was set to run through January 2026, … Continue reading Fed Governor Kugler is resigning

The U.S. economy grew 3% in the second quarter, beating expectations and rebounding from a 0.5% decline in Q1. The growth was driven by a sharp drop in imports and stronger consumer spending, despite ongoing trade tensions and high tariffs. Consumer spending rose 1.4%, and inflation showed signs of easing. However, some underlying indicators, like private domestic sales and residential investment, pointed to a possible … Continue reading U.S. economy grew at a 3% rate in Q2

The Federal Reserve voted 9-2 on Wednesday to keep interest rates steady at 4.25%–4.5%, despite pressure from President Trump and dissent from two governors. This marks the first time since 1993 that multiple Fed governors opposed a rate decision. While inflation remains elevated and the labor market strong, the Fed noted slower economic growth and heightened uncertainty, CNBC has reported. The dissenting officials argued for … Continue reading Fed leaves interest rates unchanged

Union Pacific and Norfolk Southern announced a historic $85 billion merger to create the first U.S. transcontinental railroad, spanning over 50,000 route miles from coast to coast. Valued at more than $250 billion combined, the deal would be one of the largest rail mergers in U.S. history and aims to boost American manufacturing, jobs, and global competitiveness. The merger promises faster freight service, fewer delays, … Continue reading Union Pacific, Norfolk Southern merge creating first US transcontinental railroad

Starbucks reported its sixth consecutive quarter of same-store sales declines but said its turnaround efforts are gaining traction. CEO Brian Niccol, known for reviving Chipotle, emphasized growing momentum despite weak financial results. In Q3, net income dropped to $558 million from $1.05 billion a year ago, while global same-store sales fell 2%. However, U.S. performance beat expectations, with smaller sales declines and rising customer engagement. … Continue reading Starbucks same-store sales fall again

The Federal Reserve is expected to keep interest rates unchanged for the fifth straight meeting, highlighting a growing divide between Chair Jerome Powell and President Donald Trump. Trump is pushing for deep rate cuts, arguing they’re needed despite a strong economy, while Fed officials believe higher rates are appropriate to prevent inflation. The Fed has signaled limited cuts this year, while Trump wants rates slashed … Continue reading Federal Reserve likely to stand pat on rates this week

Spirit Airlines will furlough 270 pilots and downgrade 140 captains to first officers this fall as it prepares for a reduced off-season schedule. The moves, effective in October and November, aim to align staffing with flight demand and cut costs as the airline works to return to profitability following its March emergence from bankruptcy. Weakened travel demand and ongoing financial struggles continue to impact the … Continue reading Spirit Airlines to furlough 270 pilots

Tesla CEO Elon Musk announced a $16.5 billion chip supply deal with Samsung Electronics, aimed at producing Tesla’s next-gen AI6 chips at Samsung’s Texas factory. The deal is a major boost for Samsung’s struggling chip foundry business, which has faced delays and a lack of major clients. Samsung’s shares surged on the news, while Tesla’s rose in premarket trading. Musk said Tesla will help improve … Continue reading Musk says Tesla and Samsung have signed a $16.5 billion chip deal

UnitedHealth Group Chairman and CEO Stephen Hemsley faces a major test Tuesday as the company reports earnings amid a sharp stock decline, DOJ investigations, and leadership turmoil. The insurer’s shares have nearly halved since May due to plunging profits in Medicare and Optum Health, prompting the return of Hemsley after CEO Andrew Witty’s resignation. Investors are eager to hear how he plans to restore confidence … Continue reading UnitedHealth aims to reassure investors as profits plunge

The European Central Bank held interest rates steady on Thursday amid significant economic uncertainty and ongoing EU-U.S. trade negotiations. After cutting rates multiple times this year—from 3% in January to 2% in June—the ECB paused as inflation hit its 2% target last month. The future of EU-U.S. trade remains uncertain, with potential tariffs looming, CNBC has reported. ECB officials suggest inflation control efforts are nearly … Continue reading European Central Bank holds interest rates

During a visit to the Federal Reserve on Thursday, President Trump clashed with Fed Chair Jerome Powell over the cost of the central bank’s ongoing renovation project. Trump claimed the cost had risen to $3.1 billion, while Powell disputed that figure, saying the higher amount referred to a separate, completed building. The renovation, originally estimated at $1.9 billion, has already increased to $2.5 billion and … Continue reading Trump visits Federal Reserve and tussles with Jerome Powell

GoPro and Krispy Kreme surged in early trading Wednesday amid a renewed meme stock rally driven by retail investors. GoPro jumped as much as 90% premarket before settling around 40% higher, while Krispy Kreme rose up to 70% before trimming gains to 26%. Despite recent revenue declines—GoPro down 13% and Krispy Kreme down 15% year-over-year—both stocks drew attention alongside earlier meme stock risers Opendoor and … Continue reading Krispy Kreme, GoPro both soar as the next darlings of this summer’s meme stock resurgence

U.S. existing home sales fell 2.7% in June to an annual rate of 3.93 million, the slowest pace since last September, as high mortgage rates and record prices continued to weigh on buyers. The national median home price hit an all-time high of $435,300. Although housing inventory rose 16% from last year, it remains below pre-pandemic levels. With mortgage rates hovering near 7%, affordability remains … Continue reading US home sales fade in June as prices soar to record levels

Stocks climbed on Wednesday after President Trump announced a new trade deal with Japan, fueling optimism for further international agreements. The Dow rose 413 points (0.9%), the S&P 500 hit a new intraday high (up 0.5%), and the Nasdaq gained 0.2%. The U.S.-Japan deal includes 15% reciprocal tariffs, and similar talks with the EU are reportedly nearing completion. Market sentiment improved as trade policy uncertainty … Continue reading Dow pops more than 400 points after Trump announces Japan trade deal

Subway has named Jonathan Fitzpatrick, a former Burger King executive and current CEO of Roark-owned Driven Brands, as its new CEO starting July 28. Fitzpatrick is the first CEO hired since Subway was acquired by private equity firm Roark Capital in 2024. Subway, one of the world’s largest restaurant chains, has faced declining sales to rivals like Jersey Mike’s and Firehouse Subs, the Associated Press … Continue reading Subway hires former Burger King executive as its new CEO

PepsiCo announced it will launch a prebiotic cola under the Pepsi brand this fall, following its $1.95 billion acquisition of prebiotic soda maker Poppi. The new Pepsi Prebiotic Cola contains three grams of prebiotic fiber and five grams of cane sugar, aiming to attract health-conscious consumers as traditional soda sales decline. The drink will be available online this fall and in stores next year, CNBC … Continue reading Pepsi introduces prebiotic cola

Stellantis, the maker of Jeep, reported that President Trump’s tariffs have cost the company nearly $350 million in the first half of 2025, with total losses expected to reach $2.7 billion due to tariffs, production cuts, and compliance costs. North American sales dropped 25% compared to last year, partly due to reduced imports impacted by the 25% tariffs on vehicles and parts that began in … Continue reading Jeep maker Stellantis says it will lose $2.7 billion due partly to tariffs

The U.S. housing market is cooling as overinflated home prices, high mortgage rates, rising inventory, and weakening demand take their toll. Home price growth slowed to 1.3% in June—its lowest in two years—while nearly one-third of major markets are seeing annual price declines of at least 1%. Inventory rose 29% from last year, though gains are tapering. High mortgage rates, averaging in the high 6% … Continue reading Nearly one-third of major U.S. housing markets now see falling home prices

Charles Schwab reported a nearly 60% jump in second-quarter profit, fueled by strong trading activity and higher asset management fees amid market volatility driven by President Trump’s tariff policies. Net income rose to $2.13 billion, or $1.08 per share, up from $1.33 billion a year earlier. Trading revenue climbed to $952 million, and total client assets hit a record $10.76 trillion, Reuters has reported. Shares … Continue reading Charles Schwab profit surges on trading boom, asset growth

Union Pacific and Norfolk Southern are in merger talks to form the largest railroad in North America, connecting the East and West Coasts. The deal would unite the largest and smallest of the six major U.S. freight railroads. While both companies declined to comment, approval from the Surface Transportation Board (STB) could be challenging due to strict merger rules set in 2001. Proponents say the … Continue reading Union Pacific, Norfolk Southern discuss merger to create transcontinental railroad

U.S. Treasury yields fell Friday as investors reacted to strong economic data and rising trade tensions. The 10-year yield dropped to 4.423%, while the 2-year fell to 3.87%, and the 30-year to 4.99%. Sentiment was boosted by solid consumer confidence, improved housing data, lower inflation expectations, and stronger-than-expected jobless claims and retail sales. However, market concerns grew after reports that President Trump is demanding 15–20% … Continue reading Treasury yields inch lower as investors weigh economic data, tariff threats