Business

A new report from the Federal Reserve showed that U.S. businesses are reporting increased costs due to tariffs, which they expect to largely pass on to consumers in the form of higher prices.The Federal Reserve on Wednesday released its latest edition of the Beige Book, which summarizes economic conditions in each of the Fed's 12 regional districts and is published eight times a year. Uncertainty over international trade policy is "pervasive" […]

Capital One CEO Richard Fairbank on Tuesday shared his perspective on how American consumers are holding up during the financial institution’s quarterly earnings call.He was asked by an analyst about how Capital One views the state of the American consumer in light of concerns in the market surrounding the Trump administration’s tariffs. Fairbank said the U.S. consumer "remains a source of strength in the economy," adding that was "true for almost […]

UNITED NATIONS — China accused the U.S. of using tariffs to bully other nations as it led a United Nations Security Council Arria-formula meeting on "The Impact of Unilateralism and Bullying Practices on International Relations." "Under the guise of reciprocity and fairness, the U.S. is playing a zero-sum game, which is essentially about subverting the existing international economic and trade order by means of tariffs, putting U.S. interests above the common […]

Boeing CEO Kelly Ortberg said Wednesday that he will work to protect the aerospace giant's turnaround from the impact of the trade war between the U.S. and its trading partners, particularly China.Ahead of the company's quarterly earnings announcement, Ortberg sent a letter to Boeing employees outlining the company's progress on four areas of its recovery plan, which included comments about how the ongoing trade disputes could impact the company."While we […]

"For sale" signs are popping up everywhere near Washington, D.C., following the Trump administration’s federal shakeup.Compared to this time last year, the number of active home listings in the nation’s capital shot up by almost 47%, according to FOX5 DC, citing data from real estate agency Bright MLS.In March alone, records tracked 6,000 new listings and almost 5,000 new pending contracts in the D.C. area, according to Bright MLS Chief […]

The European Union (EU) slapped Apple and Meta with hundreds of millions of dollars in fines on Wednesday despite warnings from President Donald Trump that countries who penalize U.S. companies could be hit with tariffs.Apple was fined 500 million euros ($570 million USD) and Meta 200 million euros ($228 million USD) by EU antitrust regulators under the Digital Markets Act (DMA), a landmark piece of legislation targeting Big Tech.The sanctions […]

TGI Fridays’ footprint in the U.S. has been significantly diminished. The chain’s website listed 85 restaurants across the country, less than a third of the number that operated in the U.S. at the start of 2024, when there were some 270, CNN reported Tuesday. In November, as TGI Fridays Inc. entered Chapter 11 bankruptcy proceedings, over 160 were scattered across America, according to the outlet. There have been closures and sales of TGI […]

President Donald Trump, after days of trolling Federal Reserve Chairman Jerome Powell for missing the window to cut interest rates and signaling he may lose his job, clarified his plan for the head of the U.S. central bank on Tuesday. "I have no intention of firing him," he told reporters at the White House.His remarks gave the U.S. stock market – which had seen steep downswings on the potential removal of […]

AT&T beat Wall Street estimates for wireless subscriber additions in the first quarter on Wednesday, driven by steady demand for its plans that bundled high-speed fiber services and 5G mobile offerings.The U.S. wireless carrier's focus on bundling to fend off intense competition in a saturating market and aggressive trade-in offers helped it gain 324,000 net monthly bill-paying wireless phone subscribers.That compared with FactSet estimates of 258,300 additions for the quarter.After […]