On Monday, President Donald Trump escalated his attacks on Federal Reserve Chair Jerome Powell, demanding deep interest rate cuts and accusing the Fed’s board of harming the U.S. economy. Trump posted a chart showing U.S. rates among the world’s highest and claimed Powell has “cost the USA a fortune.” Despite Trump’s months-long pressure, the Fed has kept rates steady, focusing on controlling inflation. Powell has … Continue reading Trump sends handwritten letter to Powell demanding ultra-low interest rates

U.S. stocks rose on Monday, closing out a second straight monthly gain and hitting new records. The S&P 500 climbed 0.5%, the Dow gained 275 points (0.6%), and the Nasdaq rose 0.5%. Markets were boosted by Canada dropping a planned tax on U.S. tech firms and resuming trade talks. Hopes for tariff deals have underpinned Wall Street’s rebound from its spring sell-off. Standout stock moves … Continue reading US stocks push further into record heights

J.M. Smucker Co. plans to eliminate artificial colors from all its products by the end of 2027 and from foods sold to K-12 schools by the 2026–2027 school year. While most Smucker products are already free of synthetic dyes, some, like sugar-free jams, ice cream toppings, and Hostess snacks, still contain them. Smucker joins other major food companies, including Nestle, Conagra, Kraft Heinz, and General … Continue reading J.M. Smucker plans to remove artificial colors from its jams and other products

The U.S. manufacturing sector is showing signs of slowing down, according to the Bank of America Institute. While tariffs may encourage companies to bring production back to the U.S., this reshoring is likely to rely more on automation than increased hiring due to labor shortages and high costs. Despite a drop in new manufacturing orders and contraction signals, tariffs could help certain subsectors recover. Reshoring … Continue reading Bank of America says tariffs might spark a ‘reshoring’ boom

Warren Buffett is donating $6 billion in Berkshire Hathaway stock to five foundations, raising his total donations since 2006 to about $60 billion. The largest portion, 9.4 million shares, goes to the Bill & Melinda Gates Foundation Trust. Other recipients include the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Buffett’s donations use Class B shares, which are more affordable … Continue reading Warren Buffett announces $6 billion in donations to five foundations

U.S. consumer prices rose slightly in May, with the Fed’s preferred inflation gauge, the PCE price index, up 0.1% monthly and 2.3% annually—still above the Fed’s 2% target. Core PCE, which excludes food and energy, rose 0.2% on the month and 2.7% annually. Meanwhile, consumer spending fell 0.1% and personal income dropped 0.4%, signaling a slowing economy. Markets expect the Fed to hold rates steady … Continue reading Core inflation rate rose to 2.7% in May, more than expected

Nike shares surged 15% Friday after the company announced plans to shift production away from China to reduce exposure to U.S. tariffs, which are expected to cost the company $1 billion. Starting this fall, Nike will implement targeted price increases in the U.S. to offset the impact. The company said it will reduce China-based production from 16% to single digits by 2026, the Associated Press … Continue reading Nike soars on a production shift away from China

The S&P 500 hit a record high Friday, rebounding from this spring’s selloff triggered by President Trump’s tariff plans. The index rose 0.5%, surpassing its February peak, while the Nasdaq and Dow also gained. Markets recovered after Trump scaled back and delayed broad tariffs he announced in April, though higher rates remain on Chinese goods and select imports. A new U.S.-China agreement is easing some … Continue reading Stocks reach record highs as Trump trade fears ease on Wall Street

Compass has sued Zillow, accusing it of using anticompetitive tactics by banning private home listings if sellers market their properties off Zillow’s platform for more than one day. Compass claims this “Zillow Ban” protects Zillow’s monopoly by forcing listings onto its site and limiting homeowner choice. The lawsuit seeks to stop Zillow from enforcing this policy and demands damages. Zillow denies the allegations, saying it … Continue reading Compass files lawsuit against Zillow over private home listings policy

Federal Reserve Chair Jerome Powell emphasized the Fed’s commitment to controlling inflation, saying policymakers will hold off on changes until they better understand the impact of tariffs on prices. He described economic growth as strong and the labor market near full employment but noted inflation remains above the 2% target. Powell cautioned that the effects of tariffs are still uncertain and that the Fed is … Continue reading Powell emphasizes Fed’s obligation to prevent ‘ongoing inflation problem’

Tesla (TSLA) stock surged after the company successfully launched its robotaxi test in Austin, Texas, on Sunday. CEO Elon Musk announced the rollout on X, noting a $4.20 flat fee for rides. Early reports from users on social media confirmed that Tesla Model Ys marked as “Robotaxi” were actively picking up passengers, with some riders taking multiple trips. The positive reception helped Tesla’s stock close … Continue reading Tesla stock pops 8% after ‘foundational’ robotaxi launch in Austin

Insurance giant Aflac suffered a cyberattack potentially exposing Social Security numbers, insurance claims, and health data, marking the largest breach yet in a recent wave targeting the US insurance industry. The hacks, also reported by Erie Insurance and Philadelphia Insurance Companies, are linked to the cybercrime group Scattered Spider, known for using social engineering—posing as tech support—to infiltrate networks quickly. Aflac stopped the intrusion within … Continue reading Cybercriminals breach Aflac as part of hacking spree against US insurance industry

Rep. Nancy Pelosi and her husband Paul Pelosi reportedly earned between $7.8 million and $42.5 million in 2024, potentially boosting their net worth to as high as $413 million. Much of their wealth comes from savvy stock trades made in Paul’s name, including timely sales of Microsoft and Visa shares before major investigations and lawsuits, and lucrative call options on AI chipmaker NVIDIA and cybersecurity … Continue reading Pelosi portfolio out-performs every large hedge fund with stunning returns

Shares of Circle and Coinbase surged after the Senate passed the GENIUS Act, which would create a federal framework for U.S. dollar-pegged stablecoins. Circle’s stock jumped 33%, continuing its strong post-IPO rally, while Coinbase rose over 16%, benefiting from stablecoins as a key revenue source. The GENIUS Act sets strict rules for stablecoin issuance and centralizes oversight under the Treasury, but still needs House approval, … Continue reading Shares of Coinbase, Circle surge after stablecoin bill passes Senate

President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell after the Fed kept interest rates steady, calling him “destructive” and blaming him for costing the U.S. “hundreds of billions of dollars” by not cutting rates. Trump claimed rates should be 2.5 points lower to save billions on Biden’s short-term debt and labeled Powell a “real dummy” on social media. Despite Powell’s stance to wait … Continue reading Trump rips into ‘too late’ Jerome Powell after Fed holds rates steady

The Swiss National Bank cut interest rates by 25 basis points to 0%, fueling concerns about a return to negative rates. The move was expected as inflation pressures ease, with Switzerland currently facing slight deflation. SNB emphasized a focus on medium-term price stability despite short-term negative inflation. The bank lowered its inflation forecast for 2025 and highlighted economic uncertainty, mainly from abroad. Switzerland’s strong franc, … Continue reading Switzerland enters era of zero interest rates

Nearly 70,000 people have signed up for the new $5 million “Golden Trump Card” visa program, a residency scheme led by U.S. Commerce Secretary Howard Lutnick. The visa offers legal U.S. residency in exchange for a large investment and features a gold card with Donald Trump’s face and signature. The initiative, originally proposed by billionaire donor John Paulson, aims to raise funds to reduce national … Continue reading 70,000 apply for $5M Trump Gold Card

Amazon CEO Andy Jassy announced that artificial intelligence will likely lead to a smaller corporate workforce in the coming years, as AI increases efficiency and changes how work is done. In a blog post, he said AI will reduce the need for some jobs while creating new roles, though the overall impact remains uncertain. Jassy emphasized that AI will transform work across all industries and … Continue reading Amazon says it will reduce its workforce as AI replaces human employees

U.S. stocks fell sharply Tuesday as rising oil prices and escalating tensions between Israel and Iran rattled markets. The S&P 500 dropped 0.8%, the Dow fell 299 points (0.7%), and the Nasdaq lost 0.9%. Oil prices surged over 4% after President Trump intensified rhetoric against Iran, prompting fears of disruption in global supply. Weaker-than-expected U.S. retail sales also added to concerns about economic slowdown. Solar … Continue reading Stocks slump and oil prices jump as Trump urges Iran’s unconditional surrender

Donald Trump’s family business is launching a Trump-branded phone service, offering a $499 gold-colored smartphone and a $47.45 monthly plan—referencing Trump as the 45th and 47th president. Ethics watchdogs warn the venture poses conflicts of interest and potential corruption. Critics also question the claim that the phone is fully U.S.-made, calling it “virtually impossible,” the BBC has reported. The Trump Organization says the business is … Continue reading Trump Organization enters mobile phone business

Costco will open a new standalone gas station in Mission Viejo, California, by spring, replacing a former Bed Bath & Beyond store. The station, available only to Costco members, will feature 40 pumps but no convenience store. Located near Interstate 5, it’s just 2.5 miles from Costco’s Laguna Niguel warehouse. This marks a first-of-its-kind standalone fuel site for Costco, Fox Business has reported. The company … Continue reading Costco to open new stand-alone gas station

Mitsubishi Corp is in talks to acquire U.S. shale and pipeline assets from Aethon Energy Management for around $8 billion, according to a source familiar with the matter. The deal would give Mitsubishi a major natural gas foothold near the U.S. Gulf Coast. Aethon, backed by RedBird Capital and the Ontario Teachers’ Pension Plan, operates significant gas assets in Louisiana, East Texas, and Wyoming, Reuters … Continue reading Mitsubishi Corp in talks for $8 billion US shale acquisition, source says

Boeing projects a more than 40% rise in global air travel demand by 2030, requiring 43,600 new aircraft through 2044, according to its latest 20-year forecast. While the total plane demand remains steady from last year, Boeing slightly lowered its growth expectations for passenger traffic, cargo, and the global economy. Single-aisle jets like the 737 MAX will dominate future deliveries. Boeing faces ongoing production challenges … Continue reading Boeing trims projection for 20-year jet demand

Taiwan has added Chinese tech giants Huawei and SMIC to its export control list, requiring Taiwanese firms to obtain permits before selling to them. The move, reflecting rising U.S.-China-Taiwan tech tensions, places the firms alongside sanctioned entities like the Taliban and al-Qaeda. Both Huawei and SMIC are already under U.S. sanctions and are developing China’s top AI chips to rival U.S. firms like Nvidia, the … Continue reading Taiwan adds China’s Huawei and SMIC to export control list

GameStop shares fell 23% after announcing a $1.75 billion convertible notes offering to help fund its bitcoin investment strategy and shift focus to trading cards. The company recently bought 4,710 bitcoins and plans further crypto investments. CEO Ryan Cohen cited bitcoin’s fixed supply as a hedge against macro risks. GameStop also reported a 17% revenue decline in Q1, fueling skepticism about its strategy. Analysts remain … Continue reading GameStop shares tank 20% as retailer reveals convertible debt offering