Business

Gold’s stratospheric rise, the best percentage gain since 1979, surprised even the most bullish metal mavens as Wall Street firms chased the run-up. The precious metal, which sat at $2,606 last December, rallied over 66% in 2025, hitting a series of new highs, settling around the $4,325 level at year-end.Looking ahead, firms, including Bank of America, see the yellow metal reaching $5,000 an ounce due to continued central bank buying, […]

Michael Faulkender, the former deputy secretary of the U.S. Department of Treasury, believes it’s too early to doubt President Donald Trump’s record on the economy."I think we should recognize how well it set the foundation next year," Faulkender said of the administration’s record in an appearance on Fox Business' "Kudlow" on New Year's Eve.With 2025 in the rearview mirror, Faulkender believes the changes the administration made in its first year […]

The U.S. is showing signs of a "K-shaped" economy with spending among lower-income consumers showing little growth in comparison to their higher-income counterparts, a new analysis from the Bank of America Institute shows.Internal data detailed in the report showed that in November the three-month average of total card spending reflected a K-shaped pattern as the holiday season began in earnest."In terms of overall credit and debit card spending, we've really seen […]

The U.S. is backing off proposed tariffs that threatened to deal a major blow to Italy's pasta industry, reducing duties on several leading producers.After an investigation into allegations that Italian pasta was being sold in the U.S. at unfairly low prices, officials found exporters had addressed many concerns, prompting a rollback of proposed tariffs on 13 companies, a U.S. Department of Commerce official told Reuters."[Our] post-preliminary analysis indicates that Italian […]

Porsche is recalling 173,538 vehicles in the U.S. due to a defect that could cause rearview cameras to go dark while drivers are backing up.The recall covers select 2019-2025 Cayenne and Cayenne E-Hybrid models, 2020-2025 911 and Taycan vehicles and 2024-2025 Panamera and 2025 Panamera E-Hybrid models, according to the National Highway Traffic Safety Administration (NHTSA)."A rearview image that does not display properly reduces the driver's view behind the vehicle, […]

President Donald Trump's economic agenda has produced a mixed but closely watched set of results so far. Economic growth has picked up, inflation has cooled from recent highs and major policy changes have begun to reshape the outlook for businesses and households. Not to mention a strong year for U.S. stocks, with the S&P 500, the broadest measure of the stock market, ending 2025 with a gain of 17%. Here’s a look […]

Sprinkles Cupcakes, the bakery chain best known for its cupcake ATMs, is permanently closing all of its stores.Candace Nelson, the company's founder and former owner, confirmed the shutdown in an Instagram video, saying Wednesday, Dec. 31, marked Sprinkles' "final day" of operations."A few days ago, I learned that Sprinkles Cupcakes, the company I started in 2005 and then sold to private equity in 2012, will be closing its bakery doors […]

Jeff Bezos and his wife Lauren Sánchez Bezos celebrated the holidays in high style, splitting time between Aspen and St. Barts.The Amazon founder, 61, and the media personality, 56, were photographed several times in the ski town of Aspen, Colorado, in the days leading up to Christmas before jetting off to the Caribbean to ring in the new year, according to Page Six. The newlyweds, who tied the knot in Venice […]

Palantir CEO Alex Karp bought Colorado's St. Benedict's Monastery, once home to Trappist monks, for a hefty $120 million. The Aspen-area ranch will become the latest in his growing list of real estate holdings. The property is located in Snowmass, Colorado, which is about 30 minutes from Aspen, and was originally asking $150 million when it went on the market last year, Ken Mirr of Mirr Ranch Group, one of the listing […]