‘Fantasy math’ masks tax bill’s U.S. debt impact, GOP lawmaker said. What the deficit means for your money

Key Points

Legislation passed by Republicans in the House and now being considered in the Senate would increase the U.S. debt by more than $3 trillion after interest and economic effects, according to estimates.
The “One Big Beautiful Bill Act” is a “debt bomb ticking,” one GOP lawmaker said.
The debt can have a big impact on household finances, by raising the cost of borrowing and reducing the value of investors’ bond holdings, according to economists.

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Finance

China’s Li urges not to turn trade into a political or security issue

June 25, 2025

Key Points Chinese Premier Li Qiang speaking at the opening plenary of the World Economic Forum’s annual conference in China, often dubbed “Summer Davos.” Engaging in the international economy is a way of “reshaping the rules and order,” Li said. Source

Finance

China doubles down on promoting yuan as confidence in U.S. dollar takes a beating

June 25, 2025

Key Points China is introducing ways to bolster yuan’s usage as confidence in the U.S. dollar falters. Three major Chinese exchanges have allowed certain foreign institutional investors to trade more futures and options contracts listed in mainland China. From expanding investment channels to building digital infrastructure, Beijing has been laying the groundwork to accelerate international […]

Finance

Stocks making the biggest moves midday: Uber, Carnival, Advance Auto Parts, Snowflake and more

June 24, 2025

Check out the companies making the biggest moves midday: Carnival — The cruise line jumped nearly 7% after beating second-quarter earnings and revenue that topped analysts’ expectations. Carnival reported adjusted earnings of 35 cents per share on revenue of $6.33 billion. Analysts were expecting earnings of 25 cents per share on revenue of $6.21 billion, […]