Month: May 2025
Goolsbee says Fed now has to wait longer before moving rates because of trade policy uncertainty
Key Points Chicago Fed President Austan Goolsbee said Friday that President Donald Trump’s latest tariff moves have complicated policy and likely put off changes to interest rates. “Everything’s always on the table. But I feel like the bar for me is a little higher for action in any direction while we’re waiting to get some […]
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Harvard sues Trump administration over ban on international student enrollment
FILE PHOTO: People walk on the Business School campus of Harvard University in Cambridge, Massachusetts, U.S., April 15, 2025. Faith Ninivaggi | Reuters Harvard University on Friday filed a lawsuit seeking to reverse the Trump administration’s ban on the private school enrolling international students over its purported tolerance of “anti-American, pro-terrorist agitators” on campus. The […]
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Personal finance app Monarch raises $75 million despite ‘nuclear winter’ for fintech startups
Monarch co-founders (left to right) Ozzie Osman, Jon Sutherland, Val Agostino. Courtesy: Monarch The personal finance startup Monarch has raised $75 million to accelerate subscriber growth that took off last year when budgeting tool Mint was shut down, CNBC has learned. The fundraising is among the largest for an American consumer fintech startup this year […]
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Trump recommends 50% tariff on European Union starting June 1
President Donald Trump on Friday said he is “recommending a straight 50% Tariff on the European Union” after complaining that trade negotiations have stalled. The steep new import duties would start on June 1, Trump wrote on Truth Social. The EU “has been very difficult to deal with,” Trump wrote. “Our discussions with them are […]
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Trump says a 25% tariff ‘must be paid by Apple’ on iPhones not made in the U.S.
US President Donald Trump (r) and Apple CEO Tim Cook speak to the press during a tour of the Flextronics computer manufacturing facility where Apple’s Mac Pros are assembled in Austin, Texas, on November 20, 2019. Mandel Ngan | AFP | Getty Images President Donald Trump said in a social media post Friday morning that […]
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How Nashville transformed from Music City into a booming business hub
Nashville, Tennessee, has transformed from its reputation as “Music City” into a major U.S. metro thanks to rapid population growth, job opportunities in key industries like healthcare and tech and a good quality of life. It’s now become one of the fastest-growing U.S. cities, boasting a diverse community and a competitive economy. “It’s not […]
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Musk’s DOGE expanding his Grok AI in U.S. government, raising conflict concerns: Reuters
Elon Musk looks on as U.S. President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, D.C., U.S., May 21, 2025. Kevin Lamarque | Reuters Billionaire Elon Musk’s DOGE team is expanding use of his artificial intelligence chatbot Grok in the U.S. federal government to analyze data, three […]
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Trump’s 5% NATO spend target ‘very, very difficult’ to meet, Greek PM says
Greek Prime Minister Kyriakos Mitsotakis and German Chancellor Friedrich Merz (not pictured) speak to the media following talks at the Chancellery on May 13, 2025 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images It would be challenging for NATO members to deliver on U.S. President’s Donald Trump’s defense spending demands, Greece’s […]
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Bye-bye buybacks? Big Oil’s record-breaking shareholder payouts are under threat
Oil prices held near two-week highs in early trading on Wednesday, supported by an agreement between the U.S. and China to temporarily lower their reciprocal tariffs and a falling U.S. dollar. Imaginima | E+ | Getty Images A protracted slump in crude prices has ramped up the pressure on Big Oil’s commitment to allocate cash […]
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House Republican tax bill favors the rich — how much they stand to gain, and why
Key Points A tax and spending package passed Thursday by House Republicans funnels the bulk of its financial benefits to wealthy households, according to economists and tax experts. The rich benefit via a slew of tax cuts tied to businesses, the SALT deduction, the estate tax, income tax rates and opportunity zones. Lower earners would […]
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