Europe’s economy stagnated at the end of 2024, with the eurozone’s GDP showing no growth in the fourth quarter, after a 0.4% increase in the third. Germany, Europe’s largest economy, contracted by 0.2% in the final quarter and for the entire year, marking a second consecutive year of shrinking output. The slowdown was driven by concerns over potential trade disruptions under President Trump’s administration, inflation, … Continue reading Europe’s economy showed zero growth at end of 2024

U.S. consumer confidence fell for the second month in a row in January, dropping to 104.1 from 109.5 in December, below economists’ expectations. The decline reflected a weaker outlook on current economic conditions and the labor market. Despite this, consumer spending remained strong, with retail sales rising 0.4% in December. The proportion of consumers expecting a recession stayed low, but there are signs of rising … Continue reading US consumer confidence dips again to start the year

Boeing faced a tough year in 2024, losing nearly $1 billion per month and a total of $11.8 billion, its worst result since the 2020 pandemic. Issues included safety and quality control problems, a damaging strike, and challenges in both its commercial and defense divisions. A door panel failure on a 737 Max and ongoing concerns about past crashes added to its troubles. The company … Continue reading Boeing loses almost $1bn every month in 2024

The Federal Reserve is set to announce its latest interest rate decision, with investors expecting it to hold rates steady, despite President Trump’s call for a reduction. This would pause a series of rate cuts that began in late 2024. While inflation has slowed, it remains above the Fed’s target. Trump has urged the Fed to lower rates, citing the potential for falling oil prices, … Continue reading Fed expected to hold interest rates steady, defying pressure from Trump

JetBlue Airways’ stock dropped on Tuesday after the airline’s financial outlook disappointed investors. The airline forecast a cost increase of up to 10% this quarter, excluding fuel, and estimated revenue could be up to 3.5% higher or as much as 0.5% lower compared to the same period last year. This came as larger competitors Delta and United projected higher revenue growth, CNBC has reported. JetBlue … Continue reading JetBlue shares tumble roughly 20% after disappointing outlook

General Motors exceeded Wall Street expectations for Q4, reporting strong results and forecasting continued success in 2025, despite challenges like slowing industry sales, a restructuring in China, and regulatory uncertainties. Shares fell about 7% following the results, as analysts expressed concerns about the auto industry’s future under the Trump administration. GM’s 2025 guidance includes a projected net income of $11.2 billion to $12.5 billion and … Continue reading GM beats Wall Street estimates, forecasts another year of strong earnings in 2025

Stocks remained mostly flat on Tuesday as investors tried to recover from a recent sell-off triggered by concerns over the Chinese AI startup DeepSeek. The Dow Jones was slightly higher, while the S&P 500 dipped and the Nasdaq fell 0.2%. Nvidia saw a 1% drop following its massive 17% loss on Monday. Investors are focusing on corporate earnings, with companies like Starbucks, Meta, Microsoft, Tesla, … Continue reading Stocks are little changed as Nvidia struggles to recover from AI rou

Target is ending its diversity, equity, and inclusion (DEI) programs, including its Racial Equity Action and Change (REACH) initiatives, following pressure from an executive order issued by President Donald Trump. This move makes Target the latest company to pull back on policies aimed at increasing racial and ethnic representation in the workplace. The decision has sparked backlash on social media, with critics arguing it harms … Continue reading Target becomes latest US firm to end DEI initiatives

Moody’s upgraded Argentina’s long-term foreign and local currency debt rating from Ca to Caa3, with a positive outlook. While praising the government’s efforts at macroeconomic stabilization, Moody’s warned of significant risks to the country’s ability to meet external debt payments. Argentina’s new rating remains low, indicating high credit risk. Despite challenges, President Javier Milei’s reforms have helped improve fiscal, monetary, and economic conditions. However, external … Continue reading Moody’s upgrades its outlook on Argentina to ‘positive’

Egg prices are rising nationwide due to an ongoing bird flu outbreak, with Long Island residents now paying up to $7.24 per dozen. The virus has led to the euthanization of millions of birds, causing supply shortages and pushing prices up by 36.8% over the past year. In New York, prices increased by 52 cents just last week. Experts say the coming weeks will determine … Continue reading Egg prices soar as bird flu outbreak worsens

Elon Musk’s Department of Government Efficiency (DOGE) is targeting the U.S. penny for cost-cutting as part of efforts to trim federal spending. Musk highlighted that it costs over 3 cents to mint each penny, which is worth just 1 cent, resulting in a $179 million cost to taxpayers in 2023. While debates over the penny’s cost have persisted for years, the issue has become more … Continue reading Elon Musk’s DOGE has a new target for cutting federal spending: the U.S. penny

CNN’s CEO Mark Thompson plans to announce mass layoffs Thursday, focusing on hundreds of job cuts as the network pivots to prioritize a global digital audience. The layoffs, aimed at reducing production costs and consolidating teams, will come alongside changes to CNN’s linear TV lineup and an expansion of digital subscriptions. Some shows may move from New York or Washington to Atlanta to lower costs. … Continue reading CNN plans to lay off hundreds of employees, cut costs

House Republicans are forming a new committee to investigate the January 6, 2021 Capitol attack, focusing on events leading up to and after the assault. Led by Rep. Barry Loudermilk (R-Ga.), the subcommittee under House Judiciary aims to uncover new information and challenge the narratives surrounding the attack. Republicans hope to work with soon-to-be-confirmed allies in the Justice Department and FBI to further their investigation. … Continue reading Netflix raises prices for all US plans

A Treasury Department report has revealed that insurance costs for homeowners in areas affected by natural disasters are rising due to increased damages from severe events. Between 2018-2022, 84 disasters caused $609 billion in damages, leading to premiums in high-risk areas averaging 82% more than in low-risk areas. Insurance premiums have increased 8.7% faster than inflation, with nonrenewal rates and claims also higher in these … Continue reading Home insurance costs soaring as climate-related events surge, Treasury Department says

The U.S. wine industry is facing significant challenges, with wine sales dropping about 6% in 2023, marking a continuation of a long-term decline. This decrease is attributed to changing generational trends, with younger consumers drinking less wine and opting for premixed, ready-to-drink beverages. The rise of nonalcoholic drinks, legal marijuana, and the increasing cost of wine have further eroded demand, NBC News has reported. Despite … Continue reading Wine sales drying up as Americans turn elsewhere

Bitcoin surged more than 4% on Friday, reaching $104,672.37, following reports that President-elect Donald Trump may soon issue an executive order making crypto a national priority. The broader crypto market rose by 3%, with exchange operators Coinbase and Robinhood gaining over 4%. The potential executive order could include creating a crypto advisory council and a national bitcoin stockpile.  Investors are optimistic that supportive policies under … Continue reading Bitcoin gains as Trump reportedly plans crypto executive order

Vanguard has agreed to pay over $100 million to settle charges related to improper disclosures about its target date investment funds. The Securities and Exchange Commission (SEC) found that Vanguard failed to properly disclose the tax implications when it lowered the minimum investment requirement for its institutional target date funds in 2020. This led to redemptions that triggered taxable distributions for remaining shareholders, impacting their … Continue reading Vanguard to pay more than $100 million to SEC over violations

The U.S. Justice Department has filed a lawsuit accusing Walgreens of filling millions of prescriptions, including dangerous amounts of opioids, without legitimate purpose over the last decade. The lawsuit claims Walgreens pharmacists filled prescriptions with red flags indicating they were likely unlawful and that the company pressured them to do so without verifying their validity. Walgreens is accused of violating the federal Controlled Substances Act … Continue reading US accuses Walgreens of filling millions of illegitimate prescriptions, including for opioids

John Deere is facing a federal lawsuit filed by the Federal Trade Commission (FTC) and the states of Illinois and Minnesota, accusing the company of forcing farmers to use only authorized dealers for repairs, thereby boosting profits. The lawsuit stems from complaints that Deere restricts access to its software and repair tools, making it difficult for farmers to fix their own equipment or use independent … Continue reading John Deere faces U.S. lawsuit over farmers’ ability to repair tractors

U.S. regulators have banned the dye Red 3 from food products due to its cancer risk, nearly 35 years after it was prohibited in cosmetics. The FDA’s decision follows a petition from health advocates, citing studies that showed the dye caused cancer in lab rats. The ban applies to food, dietary supplements, and oral medicines but not to external products like cosmetics. Manufacturers have until … Continue reading FDA bans red dye No. 3 from foods

US stocks surged on Wednesday following a positive inflation report and strong bank earnings. The Dow rose 703 points, or 1.65%, with the S&P 500 up 1.83% and the Nasdaq climbing 2.45%. Inflation data showed a slowdown in core consumer prices, easing concerns about rising inflation and interest rates. Robust fourth-quarter profits from major banks, including JPMorgan Chase, Goldman Sachs, Citi, Wells Fargo, and BlackRock, … Continue reading Wall Street soars on record bank profits and cooling inflation

Southwest Airlines is pausing corporate hiring, promotions, and most summer internships, while suspending some employee team-building events to reduce costs and improve margins. CEO Bob Jordan emphasized the importance of financial performance and said the company would evaluate hiring needs as necessary. The airline is also halting its long-standing employee rallies and other activities to focus on profitability. This move comes after pressure from activist … Continue reading Southwest Airlines pauses corporate hiring, most summer internships to cut costs

Starbucks has reversed its 2018 policy of allowing non-customers to use its bathrooms, stating that from January 27, only customers who make a purchase will have access to its restrooms, cafes, and patios in North America. This change is part of a new code of conduct aimed at creating a welcoming environment, while addressing safety concerns. The company is also working to simplify its menu … Continue reading Starbucks says people using its coffee shops must buy something

Wholesale prices in December rose less than expected, with the producer price index (PPI) increasing by just 0.2%, below the 0.4% forecast. Excluding food and energy, the core PPI remained flat, suggesting that inflation pressures eased. On an annual basis, the PPI rose 3.3%, up from 1.1% in 2023. The report indicates a slowdown in inflation, but likely not enough to prompt an immediate Federal … Continue reading Inflation watch: Wholesale prices rose 0.2% in December, less than expected

Apple’s board of directors recommended investors vote against a shareholder proposal to abolish the company’s Diversity, Equity, and Inclusion (DEI) programs. The proposal, submitted by the National Center for Public Policy, argued that DEI programs posed risks to companies, citing recent Supreme Court decisions. Apple responded by emphasizing its strong compliance program and stated the proposal was an unnecessary attempt to micromanage its strategy, CNBC … Continue reading Apple’s board recommends shareholders vote against proposal to eliminate diversity programs