Business

Robotaxis are closer to becoming a reality, after Tesla launched a full self-driving (FSD) supervised ride-hailing service in Austin, Texas, and the San Francisco Bay Area "for an early set of employees."The announcement was made on Wednesday on X.  "We've completed over 1.5k trips & 15k miles of driving," the social media post said. "This service helps us develop & validate FSD networks, the mobile app, vehicle allocation, mission control […]

Mortgage rates slipped this week, 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 slightly to 6.81% from last week's reading of 6.83%.The average rate on a 30-year loan was 7.17% a year ago."Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability […]

U.S. existing home sales fell more than expected in March, weighed down by higher borrowing costs, and further weakness is likely as growing concerns of an economic slowdown because of tariffs sap demand.Home sales dropped 5.9% last month to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors (NAR) said Thursday. Economists polled by Reuters had forecast home resales declining to a rate of 4.13 […]

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 […]