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

Nike plans to raise prices on some apparel and equipment by June 1 in response to President Trump’s tariffs, which fully resume on July 8 after a 90-day pause. Tariffs on Vietnam, where Nike produces much of its goods, are currently at 10%, while China faces 30%. Price increases will range from $2 to $10, with shoes over $150 rising by $10. However, prices for … Continue reading Nike to raise prices over Trump tariffs

Target’s efforts to revive sales are faltering, with Q1 revenue falling more than expected and full-year sales now projected to decline. The company blamed weak consumer spending, economic concerns, and the impact of customer boycotts related to its handling of LGBTQ+ and DEI issues. Comparable store sales dropped 3.8%, and transaction volume also declined. Target’s stock fell 3.5%, and the company cut its annual forecast. … Continue reading Target sales drop in 1st quarter and retailer warns they will slip for all of 2025

U.S. stocks fell sharply as details of the White House’s tax plan raised inflation concerns. The Dow dropped 704 points (1.7%), the S&P 500 lost 1.2%, and the Nasdaq slipped 1%. Investors fear higher bond yields and borrowing costs due to rising deficits and tariffs. The 30-year bond yield rose to 5.09%, USA Today has reported. Oil prices dipped, gold rose nearly 1%, and Bitcoin … Continue reading Dow Fall More Than 800 Points, Bitcoin Touches New High

Southwest Airlines will require passengers to keep power banks and portable chargers visible during flights starting May 28, citing safety concerns over lithium-ion battery fires. Devices can no longer be used while stored in bags or overhead bins. The airline is the first U.S. carrier to adopt such a policy, joining some international airlines like those in South Korea, ABC News has reported. The move … Continue reading Southwest will no longer allow portable batteries to be stored in passenger bags

Google has launched a new $249.99/month subscription service called Google AI Ultra, offering exclusive access to its most advanced AI tools. Announced at Google I/O, the plan includes the Gemini AI app with DeepThink mode, early access to experimental tools like the Veo 3 video generator and Project Mariner, 30TB of storage, and YouTube Premium. Aimed at power users, it competes with OpenAI’s $200/month ChatGPT Pro … Continue reading Google launches $250 per month ‘VIP’ AI subscription service

The FDA has announced a recall of cucumbers grown by Bedner Growers, Inc. and distributed by Fresh Start Produce Sales, Inc. due to a multistate Salmonella outbreak that has sickened at least 26 people across 15 states. The cucumbers, distributed since April 29, may be unlabeled or sold in various packaging. Nine people have been hospitalized. The FDA urges consumers, retailers, and restaurants to discard … Continue reading Cucumbers recalled after more than 20 people sickened in Salmonella outbreak