Business

(WASHINGTON) — President Donald Trump on Thursday announced an agreement that will pave the way for social media giant TikTok to come under the control of a group of U.S. investors. The move comes months after a ban on the China-based app was set to take effect at the outset of this year. Instead, Trump […]

(NEW YORK) — The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump’s tariff policy, federal government data on Thursday showed. The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government’s final estimate, besting a 3.3% rate […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) — Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday. The company will […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell warned a recent uptick of inflation, alongside a hiring slowdown, poses a “challenging situation” for central bankers as they aim to steer the U.S. economy through a “turbulent period.” The Fed, which opted to cut interest rates last week, is guided by a dual mandate to keep inflation […]

(NEW YORK) — The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its first interest rate cut this year in an effort to revive the flagging labor market. The central bank delivered a policy long-sought by President Donald Trump, though the size of the rate cut […]

(NEW YORK) — The Federal Reserve on Wednesday is set to unveil its latest decision on the level of interest rates, hoping to guide the economy through a topsy-turvy stretch of slow hiring and rising inflation. The high-stakes announcement marks a flashpoint in the monthslong pressure campaign directed at the Fed by President Donald Trump. […]

(WASHINGTON) — Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation’s benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation. In a highly unusual circumstance, however, two of the policymakers stand in limbo – uncertain if they […]

(NEW YORK) — Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase. The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week ending on Thursday, which amounted to the largest one-week drop […]

(NEW YORK) — Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump’s tariff policy intensified. The reading matched economists’ expectations. The fresh inflation data indicated an acceleration from a 2.7% inflation rate recorded in the month prior, according to the U.S. Bureau of […]

lvcandy/Getty Images (NEW YORK) — Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers. Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold in the previous month, the U.S. Bureau of Labor Statistics said […]