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

President Trump met with Federal Reserve Chair Jerome Powell on Thursday to discuss economic conditions, but they did not talk about future monetary policy, the Fed said. Trump, however, criticized Powell for not cutting interest rates, which he claims puts the U.S. at an economic disadvantage. This was their first meeting since Trump began his second term. Powell emphasized that the Fed’s policy decisions will … Continue reading Fed Chair Powell met with Trump at the White House

India’s economy grew 7.4% year-on-year in the March quarter of 2025, surpassing expectations and marking the fastest pace of growth for the fiscal year. This was driven by strong domestic consumption and limited export dependence, despite global economic uncertainty and U.S. trade tensions. The Reserve Bank of India cut interest rates to 6% to support growth and may cut rates again. India’s full-year growth hit … Continue reading India’s economy grew by faster-than-expected 7.4% in the March quarter

Japan’s Nippon Steel is set to finalize its $55-per-share acquisition of U.S. Steel, after President Trump cleared the deal, calling it a “partnership.” Nippon plans to invest $14 billion over 14 months, with U.S. Steel’s headquarters staying in Pittsburgh. The deal was initially blocked by President Biden over national security concerns, but Trump ordered a new review. U.S. Steel’s board will have a U.S. majority, … Continue reading Japan’s Nippon expected to close acquisition of U.S. Steel at $55 per share

Southwest Airlines is ending its long-standing “two bags fly free” policy on Wednesday, introducing fees of $35 for the first checked bag and $45 for the second, except for certain travelers like top-tier loyalty members and those with Southwest credit cards. The change, part of a broader shift in the airline’s business model under pressure from activist investors, also includes launching basic economy tickets with … Continue reading Southwest Airlines will start charging $35 for a checked bag

Trump Media announced it raised $2.5 billion from institutional investors to fund one of the largest bitcoin treasury allocations by a public company, marking a major shift from a social platform to a financial services player. The company plans to buy $1.5 billion in common stock and $1 billion in convertible notes to invest in bitcoin, which will be held with Anchorage Digital and Crypto.com. … Continue reading DJT shares fall 10% as Trump Media says it’s raising $2.5 billion to buy bitcoin

Trump Media announced it raised $2.5 billion from institutional investors to fund one of the largest bitcoin treasury allocations by a public company, marking a major shift from a social platform to a financial services player. The company plans to buy $1.5 billion in common stock and $1 billion in convertible notes to invest in bitcoin, which will be held with Anchorage Digital and Crypto.com. … Continue reading DJT shares fall 10% as Trump Media says it’s raising $2.5 billion to buy bitcoin

McDonald’s is shutting down all its CosMc’s locations, including the original Bolingbrook site, starting in late June. Launched in December 2023, CosMc’s featured customizable drinks like the Churro Frappé and was designed as a “launchpad for learning.” Despite drawing long lines, McDonald’s will now use insights from the pilot to test new beverages at regular locations, Fox 32 has reported. The CosMc’s app will also … Continue reading McDonald’s to close all CosMc’s locations

BYD’s shares fell as much as 8.25% Monday after the company cut prices on 22 electric and hybrid models, including slashing the Seagull hatchback price by 20% and the Seal sedan by 34%. The price cuts, effective until June, sparked a surge in dealership foot traffic but also raised concerns of a price war in China’s auto sector. Other automakers’ shares, including Geely, Great Wall, … Continue reading China’s BYD sees shares plunge 8% as EV maker cuts prices

President Trump announced a delay of a planned 50% tariff on EU imports until July 9, following a phone call with European Commission President Ursula von der Leyen, who requested more time for negotiations. The move temporarily eased market concerns, with Asian stocks posting modest gains. Trump previously threatened to impose the tariffs on June 1, following an earlier 20% tariff on the EU, CNN … Continue reading Trump delays 50% EU tariffs until July 9