Breaking News: Economy
U.S. economy added just 143,000 jobs in January but unemployment rate fell to 4%
A hiring sign is displayed in the window of a Chipotle on August 22, 2024 in Alexandria, Virginia. Anna Rose Layden | Getty Images Job creation was weaker than expected in January, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls rose by a seasonally adjusted 143,000 for the month, down from an upwardly revised […]
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Stocks making the biggest moves premarket: Pinterest, Amazon, Take-Two Interactive, Tesla and more
Check out the companies making headlines before the bell. Affirm Holdings — Shares of the payment company popped 14% after Affirm exceeded earnings and revenue expectations for the fiscal second quarter . Affirm, which provides buy now, pay later loans, reported $866 million in revenue for the period, while analysts polled by LSEG expected $807 […]
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How the U.S. has used tariffs through history — and why Trump is different, economists say
Key Points The U.S. has used tariffs since its founding in the 18th century. They were primarily a way to raise revenue in the nation’s early days. Later, tariffs were largely used to restrict imports or as a bargaining chip to reduce trade barriers. President Donald Trump’s use of the import duties has broken with […]
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Trump’s tax cuts are ‘stuck in the mud’ as Republicans split over spending
U.S. House Speaker Mike Johnson (R-LA) reacts following the passage of a spending legislation to avert a government shutdown, on Capitol Hill in Washington, U.S., December 20, 2024. Nathan Howard | Reuters President Donald Trump’s agenda is hitting speed bumps on Capitol Hill, as Republican infighting over spending levels threatens to halt a massive package […]
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Tariffs: How they work, who pays for them and why Trump loves them
A drone view shows shipping containers from China, at the China Shipping (North America) Holding Company Ltd. facility at the Port of Los Angeles in Wilmington, California, Feb. 4, 2025. Mike Blake | Reuters President Donald Trump has long been a fan of tariffs, and in his first month back in the White House he […]
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Stocks making the biggest moves premarket: Apple, AMD, Uber, Alphabet, PDD and more
Check out the companies making headlines before the stock market open. Alphabet — The Google parent tumbled 7% after fourth-quarter revenue of $96.47 billion lagged the $96.56 billion estimated by analysts polled by LSEG. Alphabet also said it plans to invest $75 billion in 2025 as it expands its artificial-intelligence strategy, more than the $58.84 […]
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Bank of England to resume rate cuts with outlook complicated by tax hikes and Trump tariffs
The Bank of England is widely expected to cut interest rates on Thursday, amid a complex backdrop of a tepid domestic growth outlook, an upcoming hike in taxes paid by businesses and U.S. President Donald Trump’s market-rattling tariff threats. As of Wednesday morning, Money markets were pricing in a 98% probability of a quarter-point rate […]
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Fed Vice Chair Jefferson advocates remaining cautious on rates as policy drama unfolds
Philip Jefferson speaks during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, D.C., U.S., on Feb. 3, 2022. The U.S. Senate on Wednesday voted overwhelmingly to confirm Philip Jefferson, an economist and Davidson College’s dean of faculty, to the Federal Reserve Board. Ken Cedeno | Bloomberg | Getty Images EASTON, Pa. […]
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The Fed could find itself in a policy Catch-22 if tariffs spike inflation and slow growth
Flags outside the Fairmont Royal York in downtown Toronto, Feb. 3, 2025. Andrew Francis Wallace | Toronto Star | Getty Images A complicated scenario is emerging surrounding the tariff drama that could put the Federal Reserve in an uncomfortable Catch-22, unsure whether to use its policy levers to tame inflation or boost growth. With many […]
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Spirits maker Diageo removes medium-term guidance on U.S. tariff uncertainty
Bottles of Diageo-owned Johnnie Walker Red Label whisky in a supermarket in Chelmsford, UK, on Tuesday, Jan. 28, 2025. Bloomberg | Getty Images Spirits maker Diageo said Tuesday that it is taking steps to deal with the potential impact of U.S. tariffs on key supply chain regions and has removed its medium-term guidance due to […]
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