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

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