NRG Energy will acquire 18 natural gas power plants from LS Power for $12 billion, doubling its generation capacity to meet rising electricity demand from data centers. The deal, expected to close in early 2026, adds 13 gigawatts of capacity across nine states and positions NRG as a key energy supplier amid growing AI-driven power needs. NRG’s stock surged 25% following the announcement, and the … Continue reading NRG Buys 18 Natural-Gas Power Plants in Bet on Soaring Energy Demand

McDonald’s announced plans to hire up to 375,000 workers this summer, its largest hiring target in years, during a news conference with U.S. Labor Secretary Lori Chavez-DeRemer. The event also marked the 10th anniversary of the company’s “Archways to Opportunity” education program. McDonald’s has strengthened ties with the Trump administration during his second term, including a $1 million donation to his inauguration, CNBC has reported. … Continue reading McDonald’s announces plans to hire 375,000 workers with Trump Labor secretary

Delta Air Lines and Korean Air are buying a combined 25% stake in WestJet from Onex for $550 million USD, with Delta acquiring 15% and Korean Air 10%. Delta will later sell part of its stake to Air France-KLM. The move deepens existing partnerships among SkyTeam alliance members but raises questions about potential operational changes and the impact on competition, CBC News has reported. While … Continue reading Delta, Korean Air to buy 25% stake in WestJet from Onex

Democrats have pushed back against proposed legislation to regulate stablecoins—digital currencies pegged to real-world assets like the U.S. dollar—arguing the risks are being understated. The GENIUS Act aimed to set standards for reserve backing, redemption rights, and consumer protections, but critics like SEC Commissioner Caroline Crenshaw warn that most stablecoins operate through lightly regulated exchanges and pose significant financial risks. Supporters say the bill would … Continue reading Stablecoins are back in focus as Senate Democrats reject legislation approving their use

The US and UK have reached a new trade agreement that reduces tariffs on certain British cars and allows limited steel and aluminium imports tariff-free, offering relief to key UK industries. While the deal leaves most UK goods subject to a 10% duty, it lowers US car import taxes to 10% for up to 100,000 vehicles annually and restores quotas on steel and aluminium. Both … Continue reading US and UK agree deal slashing Trump tariffs on cars and metals

Nvidia shares rose after the Trump administration moved to scrap the Biden-era “AI diffusion rule,” which would have imposed restrictions on exporting advanced AI chips. The rule, set to take effect May 15, was criticized by chipmakers like Nvidia and AMD as overly complex and harmful to U.S. innovation. The Department of Commerce said it will replace the rule with a simpler version to promote … Continue reading Nvidia shares climb as Trump administration prepares to end chip export restrictions

The Federal Reserve announced it will keep interest rates unchanged at 4.25% to 4.5%, citing ongoing economic uncertainty, persistent inflation, and stable labor market conditions. Chair Jerome Powell emphasized that inflation has declined but remains above target, and noted rising risks of both higher inflation and unemployment, partly due to new tariffs. Powell said rate cuts this year are possible but uncertain, depending on how … Continue reading Federal Reserve holds key interest rate steady amid economic uncertainty

Missouri lawmakers have passed a bill that would make gold and silver legal tender in the state, allowing them to be used—electronically—for paying taxes and public debts. While private businesses wouldn’t be required to accept precious metals, they could choose to. The bill, part of a broader financial package, now heads to Republican Gov. Mike Kehoe, who has yet to indicate if he’ll sign it, … Continue reading Missourians could soon pay with gold & silver after lawmakers approve bill

Credit Suisse Services AG pleaded guilty to a criminal conspiracy for helping wealthy Americans hide over $4 billion in offshore accounts, resulting in a $511 million settlement. The Swiss bank also entered a non-prosecution agreement related to U.S. accounts held at its Singapore branch. Between 2014 and 2023, Credit Suisse helped U.S. clients evade taxes by maintaining undeclared accounts, violating a 2014 plea agreement. The … Continue reading Credit Suisse to pay $511 million for helping U.S. taxpayers hide over $4 billion overseas

Waymo and Magna International plan to double robotaxi production at their Mesa, Arizona plant by 2026. The facility will assemble over 2,000 Jaguar I-PACE robotaxis and later add the more advanced Geely Zeekr RT vehicles with 6th-generation Waymo Driver technology. The plant, which opened in October, will have the capacity to produce tens of thousands of autonomous vehicles annually. Waymo already operates a fleet of … Continue reading Waymo plans to double robotaxi production at Arizona plant by end of 2026

Ford Motor exceeded Wall Street’s expectations for the first quarter but suspended its 2025 financial guidance due to an anticipated $2.5 billion impact from President Trump’s tariffs. The company plans to offset $1 billion of those costs but warned of risks, including supply chain disruptions and future tariff increases. Ford’s first-quarter revenue dropped 5% to $40.7 billion, with a nearly 90% decline in EBIT for … Continue reading Ford suspends 2025 guidance amid $2.5 billion tariff impact

China says it is reviewing U.S. efforts to restart trade talks, but insists that the U.S. must first cancel its unilateral tariff hikes to show sincerity. While U.S. officials, including Trump and Secretary of State Marco Rubio, claim China wants to negotiate, Beijing denies that talks have begun. Both sides have imposed steep tariffs—up to 145% on Chinese goods and 125% on U.S. goods—causing a … Continue reading China says it’s considering trade talks with U.S., but demands canceled tariffs

After a stronger-than-expected April jobs report, Donald Trump renewed his call for the Federal Reserve to cut interest rates, claiming inflation is no longer a concern. He praised the economy as being in a “transition stage” and argued that consumers deserve lower prices. While Trump has long criticized Fed Chair Jerome Powell, he has recently toned down his attacks, saying he has “no intention” of … Continue reading Trump calls on Fed once again to lower rates after solid April jobs report

Temu has halted shipments from China to the U.S. in response to a new executive order from President Trump that closes the “de minimis” loophole, which previously let packages under $800 avoid tariffs. Now, all products for U.S. shoppers are stocked and shipped domestically, with prices staying the same—for now. Temu says it’s boosting U.S. seller participation, but critics warn prices may rise, Axios has … Continue reading Temu halts China shipments to U.S. as tariff exemption ends

The U.S. trade deficit in goods hit a record $162 billion in March, rising 10% as businesses rushed to import foreign goods ahead of Trump’s tariffs. This surge, driven by increased imports of electronics, drugs, and clothing, is expected to drag first-quarter GDP growth down to just 0.4%, the weakest in nearly three years. While exports rose slightly, the widening deficit may worsen if global … Continue reading U.S. trade deficit in goods soars to all-time high

Hiring slowed sharply in April, with private sector payrolls rising by just 62,000—well below expectations and the lowest since July 2024—amid uncertainty over Trump’s tariffs, according to ADP. Wage growth for job stayers dipped slightly, while job changers saw modest gains. Leisure and hospitality led job growth, but education and health services saw significant losses, CNBC has reported. The data comes ahead of Friday’s official … Continue reading Private payroll growth slowed to 62,000 in April

Mortgage rates held steady last week, but homebuyers pulled back due to economic concerns. Mortgage applications for home purchases dropped 4% from the previous week and were only 3% higher than a year ago, despite lower interest rates. The average 30-year fixed rate dipped slightly to 6.89%. Refinance applications also fell 4% but remained 42% higher than last year, CNBC has reported. Economic uncertainty and … Continue reading Mortgage demand drops further

Gold prices dropped on Monday as easing U.S.-China trade tensions increased investor risk appetite, reducing demand for safe-haven assets like gold. Spot gold fell 0.8% to $3,292.43 an ounce, down from its record high of $3,500.05 on April 22. The stronger dollar also pressured prices, making gold more expensive for foreign buyers. U.S. President Trump’s comments on potential trade deal progress with China contributed to … Continue reading Gold falls as easing US-China tensions curb safe-haven demand

Toyota Motor Chairman Akio Toyoda has proposed a ¥6 trillion ($42 billion) buyout of Toyota Industries Corp., which makes looms and parts for Toyota cars. The move aims to increase his control over Toyota’s vast business empire, with Toyota Industries holding a 9.1% stake in Toyota Motor. The offer represents a 40% premium over Toyota Industries’ market value. The company has formed a special committee … Continue reading Toyota considers investing in potential $42 billion buyout of key supplier

SEC Chair Paul Atkins stated on Friday that innovation in the crypto industry has been stifled and significant changes are needed to address the current regulatory framework. Speaking at the SEC’s Crypto Task Force roundtable, Atkins emphasized the need for a more collaborative approach to crypto regulation. The session, which followed the SEC’s dropping of its lawsuit against Ripple, focused on digital asset custody. Atkins … Continue reading SEC Chair Atkins says crypto innovation ‘has been stifled’ as regulators push for change

McDonald’s is adding a new permanent menu item for the first time in four years: McCrispy Strips with a Creamy Chili Dip, launching nationwide on May 5. The chicken strips feature 100% white meat with bold black pepper seasoning and will be served with a sweet and tangy dip. McDonald’s says the release responds to strong demand for chicken strips, WTHR 13 News has reported. … Continue reading McDonald’s unveils its first new permanent menu item in four years

Wall Street extended its relief rally Thursday, buoyed by President Trump’s hints at easing tariffs on China and backing off criticism of Fed Chair Jerome Powell. The Dow rose 236 points by midday, with the S&P 500 up 1.2% and Nasdaq gaining 1.8%. Markets were encouraged by signs Trump may soften his stance when markets react negatively. Despite China’s denial of active trade talks, negotiations … Continue reading Stocks continue relief rally amid talks of trade negotiations

The spring housing market is faltering instead of booming, with existing home sales in March dropping 5.9% from February — the biggest monthly decline since November 2022 — and down 2.4% from a year ago. Despite increased inventory and expectations for a busy season, high mortgage rates (averaging 6.81%) and rising home prices continue to dampen demand. Analysts say the market remains subdued, with sales … Continue reading Home sales just posted their biggest monthly fall since 2022

China kept its loan prime rates unchanged Monday, with the 1-year LPR at 3.1% and the 5-year at 3.6%, aiming to stabilize the yuan amid rising U.S. trade tensions. The decision followed stronger-than-expected economic data, including 5.4% GDP growth in Q1 and solid retail and industrial numbers. The move aligns with expectations, as the central bank holds off easing due to currency concerns and awaits … Continue reading China keeps key lending rates steady in bid to shore up yuan as Trump tariffs pressure currency

Gold prices hit a record high of $3,384 an ounce on Monday, driven by rising geopolitical tensions, a weakening U.S. dollar, and fears over global economic growth amid the escalating U.S.-China trade war. Spot gold rose 1.7%, while U.S. gold futures climbed 2%. Ongoing central bank demand and safe-haven buying also supported the rally. The dollar index dropped to a three-year low, making gold more … Continue reading Gold soars to record high on trade war concerns, weaker dollar