Business

Mortgage rates fell for the second week in a row, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage decreased to 6.27% from last week's reading of 6.3%. The average rate on a 30-year loan was 6.44% a year ago."Importantly, homeowners have noticed these consistently lower rates, driving an uptick in refinance activity," said Sam Khater, […]

Southwest Airlines is shaking up its famously simple no-frills model with a new aircraft design that promises a more "elevated" flying experience, with similar upgrades planned for its existing fleet.The Dallas-based carrier unveiled its first Boeing 737 MAX 8 with a refreshed interior this week — complete with an extra-legroom section, new high-end seats and refreshed lighting — underscoring the company’s broader push to modernize its fleet and offer new […]

The Trump administration is preparing to make changes to the IRS that would allow the agency to launch criminal investigations of left-leaning groups, according to a report by The Wall Street Journal.The Journal reported, citing people familiar with the matter, the push centers on installing Trump allies at the IRS criminal-investigative (IRS-CI) division and reducing the involvement of agency lawyers in those criminal probes.Those changes could allow politically motivated probes to be […]

Nestle, the world’s largest packaged-food company, is trimming its workforce by 16,000 over the next two years as it seeks to "substantially" reduce costs under its new CEO Philipp Navratil.In the Thursday announcement, Navratil established a new goal to achieve cost savings of 3 billion Swiss francs by the end of 2027, which is higher than its previous target."As Nestle moves forward, we will be rigorous in our approach to […]

Often unmarked and hidden from commercial tracking systems, a growing fleet of "ghost ships" is quietly delivering sanctioned Russian oil to ports in China and India — intensifying tensions with Washington as high-stakes trade negotiations unfold with both countries.President Donald Trump said Wednesday India has agreed to stop the practice of purchasing discounted Russian crude and re-exporting refined oil products on the global market, a tactic that props up Moscow’s […]

Treasury Secretary Scott Bessent on Wednesday said the ongoing government shutdown could be costing the U.S. economy billions of dollars per day.Bessent said at a news conference the partial government shutdown is "starting to cut into muscle here" as the shutdown continues into its third week."We believe that this shutdown may start costing the U.S. economy up to $15 billion a day," Bessent said. The Treasury Department later clarified that he meant […]

The average cost of gasoline nationwide is hovering near the $3 mark and could soon dip below it, some industry experts say.The national average stood at around $3.07 per gallon as of Wednesday, down around 10 cents from a month ago and nearly 15 cents from a year ago, according to AAA. "Americans appear to be on the cusp of seeing the national average drop below $3.00 per gallon and potentially […]

A pilotless taxi developed in China that can fly more than 100 miles on a single charge launched this week.EHang Holdings introduced the VT35 on Monday in Hefei, Anhui Province. The taxi is part of EHang’s line of long-range, pilotless electric vertical takeoff and landing (eVTOL) aircraft."It [the car] is engineered to transform intercity aerial travel into a safe, routine, and efficient transportation experience," the company said in a news […]

Outdoor retailer Recreational Equipment, Inc. (REI) reportedly plans to close three of its U.S. stores next year.The closures will affect REI locations across the Northeast, including Paramus, New Jersey, during the first three months of 2026, as well as in Boston and its flagship SoHo locaftion in New York City toward the end of that year, USA Today reported."We are deeply grateful to our teams, our members and customers, and […]