Business

The U.S. trade deficit grew to a record high in March after businesses stepped up their imports of goods in an effort to front-run tariffs.The Commerce Department on Tuesday reported that the trade deficit increased 14% to a record $140.5 billion in March, rising from $123.2 billion in February.Economists polled by LSEG had projected the trade deficit would be $137 billion in March.Imports increased 4.4% to reach an all-time high of $419 […]

Trade tensions are hitting home for American furniture manufacturers. While 52% of the U.S.' $1.9 trillion in domestic furniture sales come from goods made in America, many companies still rely heavily on overseas partners – especially in Asia – for critical components. Even manufacturers with U.S.-based mills and production facilities are feeling the pressure from an increasingly global and volatile supply chain.Take Valdese Weavers, for instance – a North Carolina-based upholstery […]

The Federal Aviation Administration (FAA) has issued a ground delay for Newark Liberty International Airport in New Jersey due to staffing shortages, weather and construction."Our antiquated air traffic control system is affecting our workforce," an FAA statement said. "As Secretary Duffy has said, we must get the best safety technology in the hands of controllers as soon as possible.""The last administration didn’t lift a finger to fix it," U.S. Department […]

Trump-appointed Centers for Medicare & Medicaid Services (CMS) Administrator Dr. Mehmet Oz is spearheading a surprising shift in how Medicare and Medicaid are managed – one that he says could save the U.S. hundreds of billions of dollars.Appearing on "Mornings with Maria," the former television host and heart surgeon described what he called a "generational opportunity" to reform Medicaid.WAYS AND MEANS CHAIR: 'REPEAT VERIFICATION FOR PEOPLE WHO ARE ON MEDICAID […]

Some companies have been adjusting their workforce as they simultaneously embrace artificial intelligence and automation more, according to Forbes.The outlet reported over the weekend that Duolingo, UPS, Klarna, Cisco and Inuit are among some of the firms that have demonstrated that trend.Duolingo recently said it was striving to be "AI-first," with CEO Luis von Ahn outlining various measures that it will take to help accomplish that in a publicly available company-wide […]

Polestar is recalling more than 27,800 of its Polestar 2 electric vehicles in the U.S. over the risk that their rearview camera display might not show an image while backing up.The electric vehicle maker said in a report submitted to the National Highway Traffic Safety Administration (NHTSA) that the recalled 2021-2025 Polestar 2 vehicles may have "visualization issues" with their rearview camera display while in reverse and show a "Camera […]

A damning report has found that air traffic controllers briefly lost radar and radio signals while guiding planes to Newark Liberty International Airport in New Jersey last week.Bloomberg first reported on Monday that air traffic controllers lost signal for nearly 90 seconds on April 28, shortly before the airport suffered massive delays and flight cancellations.The air traffic controllers were working at the Federal Aviation Administration (FAA) operation in Philadelphia that […]

Treasury Secretary Scott Bessent on Monday said at an investor conference that President Donald Trump's policies will drive economic growth.Bessent delivered remarks at the Milken Institute Global Conference and participated in a question-and-answer session with Chairman Michael Milken, in which he touted the administration's progress in the more than three months since the inauguration."America deserves a golden age economy, so for the past 100 days, we've been preparing the soil," Bessent said. […]

OpenAI announced on Monday that the artificial intelligence (AI) giant is scuttling its plan to move the company away from a nonprofit structure to becoming a for-profit company.The ChatGPT-maker created a for-profit limited liability company (LLC), which it will now convert into a public benefit corporation that considers the interests of shareholders as well as OpenAI's mission. OpenAI's nonprofit will have operational control over the public benefit corporation and will […]