Breaking News: Economy
Mortgage rates jump 20 basis points following Fed cut
An aerial view of homes in a neighborhood on Aug.27, 2025 in San Francisco, California. Justin Sullivan | Getty Images While the Federal Reserve cut its benchmark interest rate this week, mortgage rates responded by doing just the opposite. The average rate on the 30-year fixed mortgage has jumped 20 basis points since Chairman Jerome […]
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Shutdown cost government contractors $12 billion so far, Chamber of Commerce report says
The U.S. Capitol building, weeks into the continuing U.S. government shutdown, in Washington on Oct. 27, 2025. Kylie Cooper | Reuters Businesses that contract with the federal government lost $12 billion in the first four weeks of the government shutdown, according to a report from the U.S. Chamber of Commerce released Thursday. The report, which […]
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Russia on guard after Trump’s call to resume nuclear weapons testing
U.S. President Donald Trump speaks with Russian President Vladimir Putin, as they meet to negotiate for an end to the war in Ukraine, at Joint Base Elmendorf-Richardson in Anchorage, Alaska, U.S., August 15, 2025. Kevin Lamarque | Reuters President Donald Trump’s call for the U.S. to resume nuclear testing after a more than 30-year pause […]
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Euro zone economy ekes out 0.2% growth in the third quarter
Pedestrians wear protective face masks while passing stores and cafes on Rue Montorgueil in Paris, France, on Wednesday, Aug. 26, 2020. Bloomberg | Bloomberg | Getty Images The euro zone economy eked out 0.2% growth in the third quarter, just beating expectations, according to flash data from Eurostat on Thursday. Economists polled by Reuters had anticipated the bloc’s […]
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Trump cuts fentanyl tariffs on China to 10%, says U.S. reached rare earths deal with Beijing
BUSAN, SOUTH KOREA – OCTOBER 30: U.S. President Donald Trump (R) speaks with Chinese President Xi Jinping during a bilateral meeting at Gimhae Air Base on October 30, 2025 in Busan, South Korea. Andrew Harnik | Getty Images News U.S. President Donald Trump said he has reached a 1-year agreement with China on rare earths […]
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‘Partners and friends’: Xi strikes conciliatory tone as he meets Trump in South Korea
BUSAN, SOUTH KOREA – OCTOBER 30: U.S. President Donald Trump greets Chinese President Xi Jinping ahead of a bilateral meeting at Gimhae Air Base on October 30, 2025 in Busan, South Korea. Andrew Harnik | Getty Images News | Getty Images Chinese President Xi Jinping said on Thursday that Beijing and Washington should be “partners […]
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Trump’s rare earth deals target China’s dominance — here’s why change won’t come soon
Chen Kerong, director of production at Neo Material Technologies Inc.’s Magnequench Tianjin Co. factory, opens a barrel of annealed neodymium iron boron magnets prior to being crushed into powder in Tianjin, China. Bloomberg | Bloomberg | Getty Images U.S. President Donald Trump’s push to secure rare earth supply deals across Asia will ultimately weaken China’s […]
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YouTube offers voluntary buyouts as company reorganizes around AI
A Youtube podcast microphone is seen at the Variety Podcasting Brunch Presented By YouTube at Austin Proper Hotel in Austin, Texas, on March 8, 2025. Mat Hayward | Variety | Getty Images YouTube is offering voluntary buyouts with severance for U.S.-based employees as it restructures its product organization to focus more on artificial intelligence. The […]
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Stocks making the biggest moves after hours: Alphabet, Meta, Starbucks, Microsoft and more
Check out the companies making headlines in after-hours trading. Alphabet — Shares of the Google parent jumped nearly 5% on the back of strong results , which included better-than-expected Google Cloud revenue and YouTube advertising revenue. Alphabet earned $3.10 per share, on an adusted basis, topping the $2.33 per share estimate from LSEG. The search […]
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Powell says AI is different from dotcom bubble and is major source of economic growth
Federal Reserve Chair Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on Oct. 29, 2025 in Washington, DC. Alex Wong | Getty Images Federal Reserve Chair Jerome Powell said on Wednesday that the artificial intelligence boom is different from the dotcom bubble of […]
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