Breaking News: Economy
House budget bill draws Senate GOP pushback: ‘They’re going to explode the debt’
Sen. Ron Johnson, R-Wis., is seen in the U.S. Capitol during a series of votes on Thursday, April 3, 2025. Tom Williams | CQ-Roll Call, Inc. | Getty Images Sen. Ron Johnson said Sunday that he thinks he has enough GOP colleagues on board with his opposition to the House’s “big, beautiful bill” to stall […]
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House Speaker Johnson downplays deficit concerns as budget bill faces skeptics in Senate
U.S. House Speaker Mike Johnson (R-LA) speaks to a reporter, as he leaves for a meeting at the White House on the budget, on the day of the House Rules Committee’s hearing on U.S. President Donald Trump’s plan for extensive tax cuts, on Capitol Hill, in Washington, D.C., U.S., May 21, 2025. Nathan Howard | […]
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Trump touts changes to military in campaign-style West Point graduation address
US President Donald Trump prepares to sign executive orders in the Oval Office of the White House in Washington, DC, on May 23, 2025. Mandel Ngan | Afp | Getty Images President Donald Trump touted his administration’s changes to the military during a commencement address at the U.S. Military Academy at West Point on Saturday […]
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Elon Musk’s X down for tens of thousands of users
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 The Elon Musk-owned social media platform X experienced outages on Saturday morning, with tens of thousands of users reportedly unable to […]
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Trump green-lights Nippon merger with US Steel
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024. Justin Merriman | Bloomberg | Getty Images President Donald Trump said Friday that U.S. Steel and Nippon Steel will form a “partnership,” after the Japanese steelmaker’s bid to acquire its U.S. rival had been blocked […]
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Stocks making the biggest moves midday: Apple, Ross Stores, Intuit, Booz Allen Hamilton and more
Check out the companies making headlines in midday trading: Booz Allen Hamilton — Shares of the consulting firm lost 15% after Booz Allen Hamilton said it would cut roughly 2,500 jobs, or 7% of its workforce, citing a slowdown in some government spending under the Trump administration and expected ongoing pressure on its business in […]
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Britain’s economy shows signs of positive momentum — but the UK may not be out of the woods just yet
People walk in Trafalgar Square, London, on April 28, 2025. Adrien Fillon | Nurphoto | Getty Images It’s been rare for a string of positive economic news to emerge out of the U.K. in 2025 — but this week in particular has given Britain three reasons to be optimistic. Data on Friday signaled unexpected positive […]
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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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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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OpenAI CFO says AI hardware will boost ChatGPT subscriptions in ‘new era of computing’
OpenAI is betting a new “era” of computing will justify the company’s decision to spend billions of dollars on bespoke hardware to go with it, Chief Financial Officer Sarah Friar said. The artificial intelligence startup, best known for the ChatGPT chatbot, announced plans on Wednesday to buy iPhone designer Jony Ive’s devices startup io for […]
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