Oracle shares jumped 8% in after-hours trading after the company reported stronger-than-expected earnings and revenue for its fiscal fourth quarter, with signs of accelerating cloud growth. Adjusted earnings per share came in at $1.70 vs. $1.64 expected, and revenue reached $15.9 billion vs. $15.59 billion expected. CEO Safra Catz projected over 70% cloud infrastructure growth in fiscal 2026 and forecast revenue exceeding $67 billion, above … Continue reading Oracle shares climb 8% as earnings, revenue top estimates

President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell on Thursday, calling him a “numbskull” for refusing to cut interest rates. Trump claimed a 2-point rate cut could save the U.S. $600 billion annually and suggested he might “force something” if the Fed doesn’t act. His remarks followed a lower-than-expected rise in producer prices and echoed similar comments from Commerce Secretary Howard … Continue reading Trump calls on Fed chief Powell to implement interest rate cut

General Motors plans to invest $4 billion to shift production from Mexico to three U.S. plants, including reopening the Orion Assembly plant near Detroit. The move will bring full-size SUVs and pickups to Orion, Fairfax (Kansas), and Spring Hill (Tennessee), partly driven by rising demand for SUVs and to avoid costly tariffs imposed by President Trump. GM’s CEO emphasized the commitment to American manufacturing and … Continue reading GM plans $4 billion push to move production from Mexico to U.S.

Consumer prices in the U.S. rose less than expected in May, with the inflation rate holding at 2.4%, as President Trump’s tariffs have yet to significantly impact prices, the Bureau of Labor Statistics reported. Core inflation, excluding food and energy, also came in below forecasts. Declines in energy, vehicle, and apparel prices helped offset increases in shelter and food costs. Experts caution that tariff-related price … Continue reading U.S. inflation rises 0.1% in May from prior month, less than expected

Amazon announced a $20 billion investment to build two data center complexes in Pennsylvania, including one next to the Susquehanna nuclear power plant, where it plans to draw power directly. The other center will be in Fairless Hills, powered by the electricity grid. Governor Josh Shapiro called it the largest private-sector investment in state history and highlighted the job creation, tax revenue, and training programs … Continue reading Amazon to spend $20B on data centers in Pennsylvania

China has offered some relief to U.S. and European automakers amid rare earth export restrictions by creating a “green channel” to speed up export license approvals for EU firms. This follows trade talks between Chinese and EU officials and comes after China imposed rare earth export curbs in response to U.S. tariffs. The move also included granting licenses to suppliers of General Motors, Ford, and … Continue reading China extends an olive branch to Western auto giants over rare earth shortage

Warner Bros. Discovery announced plans to split into two public companies by mid-2026: one focusing on streaming and studios, including HBO Max and movie properties, led by CEO David Zaslav; and a global networks company, including CNN and TNT Sports, led by CFO-turned-CEO Gunnar Wiedenfels. The move reflects industry shifts as consumers move from cable to streaming, aiming to give each company more strategic focus. … Continue reading Warner Bros. Discovery to split into two public companies by next year

Midea is recalling 1.7 million U Window and U+ Window air conditioners due to a drainage issue that can cause mold growth, posing health risks like respiratory infections. The Consumer Product Safety Commission (CPSC) has received 152 reports of mold buildup, including 17 cases with related health symptoms. The recall covers units sold in the U.S. and Canada under various brand names, including Frigidaire and … Continue reading Midea recalls 1.7 million air conditioners over potential mold risk

China’s consumer prices fell for the fourth straight month in May, dropping 0.1% year-on-year, as stimulus efforts have yet to boost domestic demand. A price war in the auto sector and falling property prices added downward pressure. Producer prices also declined sharply, with factory-gate deflation deepening to 3.3%. Despite strong exports, economists warn China must rely more on domestic consumption to fight deflation. Recent policy … Continue reading China consumer prices slump again, deepening deflation worries

U.S. imports plunged 20% in April—the largest monthly drop on record—after President Trump’s new wave of tariffs took effect, following a rush by firms to import goods earlier in the year. Imports from China and Canada fell to their lowest levels in years, and the overall goods trade deficit was nearly cut in half. Trump’s broad tariffs, now at their highest levels since the 1930s, … Continue reading Tariffs prompt record plunge in US imports

The U.S. labor market added 139,000 jobs in May, signaling a slowdown from previous months, though still slightly above expectations. The unemployment rate remained at 4.2%, and wages continued to outpace inflation. Revisions lowered March and April’s job gains by 95,000, bringing 2025’s average monthly job growth to 124,000—its weakest non-recession start in 30 years, CNN has reported. Economists warn the labor market is cooling, … Continue reading The US economy added 139,000 jobs in May, slightly more than expected

A salmonella outbreak linked to eggs from California-based August Egg Company has sickened 79 people across seven states, with 21 hospitalized, according to the CDC. In response, the company recalled 1.7 million dozen brown cage-free and organic eggs sold under various brands at major retailers like Walmart and Safeway. The company has halted fresh egg sales and is now sending eggs to be pasteurized, CNN … Continue reading Salmonella outbreak linked to eggs sickens dozens of people across 7 states

The FDA has escalated a tomato recall in Georgia, North Carolina, and South Carolina to a Class 1 warning—its most serious level—due to possible salmonella contamination. The recall, initiated by Williams Farms Repack LLC, affects tomatoes distributed between April 23 and 28. Although no illnesses have been reported, consumers are urged to return or discard the tomatoes, The Guardian has reported. Salmonella can cause severe … Continue reading FDA issues highest alert for tomato recall due to salmonella risk

European auto industry groups are raising alarms over a rare earth shortage triggered by China’s recent export restrictions. The curbs, imposed in response to U.S. tariffs, have already caused shutdowns at several European supplier plants, with more disruptions expected as inventories run low. Rare earths are essential for both combustion and electric vehicles, and only about 25% of export license applications have been approved by … Continue reading Auto industry sounds the alarm as China’s rare earth curbs start to bite

Kimberly-Clark is selling its Kleenex and tissue businesses outside North America to Brazilian company Suzano for about $3.5 billion, shifting focus to more profitable areas. The deal boosts Suzano’s global tissue market presence. Analysts give Kimberly-Clark (NYSE: KMB) an average price target of $144.13, indicating a modest 4.12% upside from its current price of $138.43. Brokerage firms rate the stock a “Hold” with an average … Continue reading Kleenex-Owner Nears Roughly $3.5 Billion Sale of International Tissue Business

Citigroup has ended a seven-year policy restricting banking services to firearm manufacturers and sellers, originally put in place after the 2018 Parkland shooting to promote responsible sales practices. The bank said many clients now follow these practices, and it will no longer maintain a specific firearms-related policy. The decision drew criticism from gun-control advocates, while White House officials praised it as supporting law-abiding gun owners. … Continue reading Citigroup lifts banking curbs on gun makers and sellers

Dollar General’s shares surged nearly 16% after it raised its sales and earnings outlook, driven by increased spending from middle- and higher-income shoppers amid tariff fears. The retailer beat expectations for revenue and earnings in the first quarter, with net sales now expected to grow 3.7% to 4.7%. CEO Todd Vasos said the company reduced its reliance on China to minimize tariff impacts and has … Continue reading Dollar General is shaking off tariff fears and winning over higher-income consumers

The Federal Reserve has lifted the $1.95 trillion asset cap on Wells Fargo, imposed after a 2016 fake accounts scandal. This marks a major milestone for CEO Charles Scharf, who has focused on cleaning up past issues since 2019. The removal reflects the bank’s progress in addressing regulatory concerns and allows Wells Fargo to pursue growth, especially in investment banking. While the asset cap is … Continue reading Wells Fargo Stock Rises as Fed Lifts Asset Cap After 7 Years

Dave’s Hot Chicken has been acquired by private equity firm Roark Capital in a $1 billion deal. Founded in 2017 as a Los Angeles parking lot popup, the Nashville-style chicken chain now expects to reach 400 locations by year’s end. Backed by celebrity investor Drake, the brand will retain its leadership team post-acquisition, the Associated Press has reported. Roark, which also owns Subway and supports … Continue reading Dave’s Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal

Asia-Pacific markets were mixed Tuesday after a private survey showed China’s manufacturing activity in May shrank at its fastest pace since September 2022, with the PMI falling to 48.3 amid weak export orders linked to U.S. tariffs. China blamed the U.S. for failing to uphold a trade agreement, further straining relations. The EU also criticized President Trump’s plan to double U.S. steel tariffs, CNBC has … Continue reading Asia-Pacific markets trade mixed as investors assess dismal China factory activity

U.S. stock indexes edged closer to record highs Monday, following a strong May performance. The S&P 500 rose 0.4%, the Dow gained 0.1%, and the Nasdaq climbed 0.7%. Early losses tied to weak U.S. manufacturing data and tariff concerns were offset by rallies in key tech stocks like Nvidia and Meta. Oil prices surged over 3% amid OPEC+ output news and Ukraine-Russia conflict uncertainty. President … Continue reading Wall Street drifts higher as oil prices jump and US manufacturing slumps

China accused the U.S. of violating their recent trade deal and vowed to take “resolute and forceful measures,” following a 90-day tariff reduction agreement signed last month. The Chinese Commerce Ministry condemned U.S. export controls on AI chips, software bans, and visa revocations for Chinese students as breaches of the deal. Meanwhile, the Trump administration alleges China is delaying critical mineral shipments essential for U.S. … Continue reading China accuses U.S. of violating trade truce, vows “forceful measures”

President Trump warned Sunday that if courts block his administration’s sweeping tariffs, it would lead to the “economic ruination” of the U.S. This follows a unanimous ruling by the U.S. Court of International Trade, which said Trump overstepped his authority by using an emergency law to impose tariffs. Though the three-judge panel—appointed by Trump, Obama, and Reagan—blocked the tariffs, a federal appeals court temporarily delayed … Continue reading Trump warns court ruling against tariffs could lead to ‘economic ruination’ of US

President Trump’s top economic advisers insisted Sunday that tariffs will remain in place despite a federal court ruling that questioned his authority to impose them. Commerce Secretary Howard Lutnick and National Economic Council Director Kevin Hassett expressed confidence that the Supreme Court would uphold the tariffs or that alternative measures would be pursued to maintain “fair” trade. The tariffs, aimed at addressing U.S. trade deficits, … Continue reading Trump advisers defend tariffs amid legal fight, insisting they’re ‘not going away’

Market Basket, the beloved New England grocery chain with 90+ stores, is facing renewed family drama. CEO Arthur T. Demoulas was placed on leave by the board over disputes about oversight and succession. This echoes a similar conflict a decade ago when Demoulas survived an ouster attempt thanks to an employee strike. Market Basket, founded in 1917 by Greek immigrant Athanasios Demoulas, has been at … Continue reading Market Basket CEO is put on leave in new spat at family-controlled supermarket chain