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

DHL Express is suspending shipments over $800 to U.S. consumers due to increased customs red tape under President Trump’s new tariff rules. The company cited a surge in formal customs checks, leading to delays. Business shipments will continue but may also face holdups. Previously, packages under $2,500 faced minimal checks, but the new threshold is now $800. Deliveries below that amount will still be processed. … Continue reading DHL suspends high value US deliveries over tariffs

UnitedHealth Group’s stock dropped 20% after the company lowered its annual profit forecast, citing higher-than-expected medical costs in its Medicare Advantage plans. This setback, amid rising medical expenses and the impact of the Covid-19 pandemic on seniors’ care, signals potential trouble for other insurers with similar plans. Analysts highlighted concerns over accelerating costs, especially as more seniors seek delayed procedures. Competitors like Humana, Elevance Health, … Continue reading UnitedHealth Shares Tumble After Earnings Fall Short Due to Medicare Issues

A U.S. judge ruled that Google illegally dominates two online advertising markets, finding the company guilty of acquiring and maintaining monopoly power in publisher ad servers and ad exchanges. This ruling could lead to a breakup of Google’s ad products. The decision is a setback for Google, following a similar ruling in an online search case. While Google won part of the case, it faces … Continue reading Google holds illegal monopolies in ad tech, US judge finds

President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell, calling for his “termination” due to Powell’s failure to quickly cut interest rates. Trump’s remarks followed Powell’s warning about the economic impact of Trump’s tariffs. Despite the European Central Bank’s decision to cut interest rates, Trump blasted Powell for being “too late and wrong.” He also accused the Fed of playing politics. Trump’s … Continue reading Trump blasts Fed Chair Powell, saying his ‘termination cannot come fast enough’

Donald Trump stated that Chinese-made smartphones and electronics will not be exempt from tariffs but will instead fall under a different “semiconductor tariff” category. This came after reports suggesting some products would escape a 145% tariff, which Trump called false. The new tariff will target the electronics supply chain, with further details expected later. China has urged Trump to cancel his tariffs, while U.S. officials … Continue reading Trump threatens new tariffs on smartphones days after exempting them

Intel is selling a 51% stake in its programmable chips unit, Altera, to Silver Lake in a deal valuing the business at $8.75 billion—about half of what Intel paid in 2015. Intel will retain a 49% stake and receive $3.4 billion in cash. The move is part of Intel’s broader plan to shed non-core assets and refocus its business. Altera will now be led by … Continue reading Intel to Sell 51% Altera Stake to Silver Lake Amid Cost Cuts

Pfizer has ended development of its experimental daily weight loss pill, danuglipron, after a trial patient showed signs of potential liver injury. Although the patient’s liver enzymes quickly returned to normal after stopping the drug, Pfizer halted the program after reviewing all clinical data and regulatory feedback. This marks another setback in Pfizer’s attempt to enter the booming GLP-1 weight loss drug market, currently led … Continue reading Pfizer scraps daily weight loss pill after liver injury in one patient

The U.S. dollar weakened sharply on Friday amid escalating tariff tensions and investor concerns over U.S. economic policy. China’s tariff hike on U.S. goods intensified a global selloff, sending the dollar to a decade-low against the Swiss franc and a three-year low against the euro. Investor confidence in the dollar as a safe haven faded, with gold hitting a record high above $3,200. The euro … Continue reading Dollar weakens with investor confidence shaken in US safe-haven assets

BlackRock CEO Larry Fink told CNBC he believes the U.S. may already be in a recession, citing rising uncertainty and weakening economic sentiment despite strong job growth and retail sales. He pointed to recent tariffs and the 90-day pause as factors contributing to prolonged uncertainty. While not seeing a financial crisis, Fink said other CEOs share his recession concerns. BlackRock’s Q1 results were mixed, with … Continue reading BlackRock’s Larry Fink says U.S. is very close to a recession