Business

Mortgage rates declined for the first time in weeks, though they are still hovering near 7%, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.85% from last week's reading of 6.89%.The average rate on a 30-year loan was 6.99% a year ago.WHEN LEAVING THE HOUSE TO YOUR HEIRS BACKFIRES"The average mortgage […]

Procter & Gamble on Thursday said that it will cut up to 7,000 jobs, or 15% of its non-manufacturing workforce, over the next two years as part of a broader restructuring effort."As always, employee separations will be managed with support and respect, and in line with our principles and values and local laws," P&G said. "Specific impacts by region or site are not available at this time." The two-year restructuring plan […]

The U.S. will face a recession if the Senate fails to pass President Donald Trump's One Big Beautiful Bill Act, Office of Budget and Management (OMB) Director Russell Vought warned Wednesday. "We'll have a recession," Vought said. "The economic storm clouds will be very dark. I think we'll have a 60% tax increase on the American people."Vought testified before the House Appropriations subcommittee on Wednesday. And while the White House's 2026 […]

Amazon is investing $10 billion to create data centers in North Carolina aimed at expanding its artificial intelligence and cloud computing technology capabilities. The move, announced Wednesday, is its latest attempt to compete with rivals Google and Microsoft in the artificial intelligence space. It will also significantly boost its presence in the state, creating at least 500 new high-skilled jobs that range from data center engineers and network specialists, to engineering […]

Dollar General is luring in more higher-income households as shoppers tighten their spending amid growing concerns around the economy. CEO Todd Vasos told analysts during the company's first-quarter earnings call on Tuesday that new customers this year are shopping more often and spending more per visit compared with new customers last year. They are also allocating more of their spending to discretionary categories.   "We believe these behaviors suggest that we are […]

Costco has been testing checkout technology it hopes will speed up the checkout process, something members rank as one of their significant concerns with the warehouse retailer. CEO Ron Vachris said last week during the company’s third-quarter earnings call that Costco has "engaged in some ‘Scan & Go done by Costco’ kind of tests." The technology has "been extremely successful in moving people through the lines and expediting the transactions," according to […]

The Stanley Cup finals start Wednesday evening, pitting two billion-dollar teams — the Edmonton Oilers and the Florida Panthers — against each other in a best-of-seven series in a rematch of last year's finals, which the Panthers won in seven games. The Oilers and the Panthers are valued in the billions, with Forbes finding them to be the sixth and 24th most-valuable NHL teams, respectively. Edmonton heads into the Stanley Cup Final […]

President Donald Trump's "Big, Beautiful Bill" would cut taxes by $3.7 trillion while adding $2.4 trillion to the national debt, the Congressional Budget Office (CBO) says.The CBO released its report on Trump's bill on Wednesday. The report also estimates that it would create an additional 10.9 million people without health insurance under the bill, including 1.4 million who are in the country without legal status in state-funded programs.CBO's analysis of […]

Investing in the next generation of artificial intelligence winners is getting more comprehensive with the launch of a new exchange-traded fund based on 30 stock picks from one of Wall Street’s top analysts.In what is likely the first of its kind, the IVES AI Revolution ETF mirrors the proprietary research of Dan Ives, the managing director and global head of technology research at Wedbush Securities."In 25 years covering tech, I've […]