Breaking News: Economy
Trump and Musk feud draws reactions from billionaires, politicians and pundits. Here’s who said what
U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025. Nathan Howard | Reuters Donald Trump and Elon Musk seemed inseparable not so long ago: attending events together, doing joint interviews and showering praises on each other. All that […]
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Friday’s jobs report likely will show hiring cooled in May. Here’s what to expect
A “We’re Hiring” sign at a NC Department of Adult Correction booth at a job and resource fair hosted by the Asheville Area Chamber of Commerce in partnership with NCWorks in Fletcher, North Carolina, US, on Wednesday, April 9, 2025. Allison Joyce | Bloomberg | Getty Images There seems little doubt now that hiring slowed […]
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Brown-Forman shares plummet as whiskey maker warns of tariff uncertainty
Bottles of the American whiskey Jack Daniel’s are offered for sale in a liquor store on November 27, 2023 in Chicago, Illinois. Scott Olson | Getty Images Shares of Jack Daniel’s-maker Brown-Forman plunged more than 18% on Thursday after the company reported quarterly earnings that came in below analyst estimates, weighed down by the impact […]
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Trump holds call with Xi, Chinese media says
President Donald Trump held a phone call with China President Xi Jinping, Chinese media outlet Xinhua reported Thursday. The call was initiated by Trump, Beijing’s Ministry of Foreign Affairs said in a subsequent statement. The White House did not immediately respond to CNBC’s request for comment on the report. U.S. stock futures rose on news […]
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Stocks making the biggest moves after hours: Five Below, MongoDB, Verint Systems and more
Check out the companies making headlines in after-hours trading: Five Below — Shares of the discount retailer added 2.5% on the back of strong first-quarter financial results and second-quarter guidance. Five Below reported adjusted earnings of 86 cents per share on $971 million in revenue, while analysts polled by LSEG called for 82 cents per […]
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Sen. Ron Johnson rips into ‘immoral’ GOP spending bill: ‘I can’t accept it’
Republican Sen. Ron Johnson on Wednesday blasted President Donald Trump’s “one big, beautiful bill” as “immoral” and “grotesque,” and reiterated that he will vote against it unless his GOP colleagues make major changes. “This is immoral, what us old farts doing to our young people,” Johnson said on CNBC’s “Squawk Box” after sounding alarms that […]
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Trump tax bill would add $2.4 trillion to deficits, Congressional Budget Office says
President Donald Trump’s “big, beautiful bill” would add $2.4 trillion to federal budget deficits over the next decade, the Congressional Budget Office estimated Wednesday. The bill passed by House Republicans last month would decrease federal spending by $1.3 trillion, but also see a a $3.7 trillion drop in revenues, according to the CBO’s latest analysis. The […]
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Trump says ‘Too Late’ Powell must lower interest rates after weak ADP jobs report
U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025. Kevin Lamarque | Reuters President Donald Trump on Wednesday angrily urged Federal Reserve Chairman Jerome Powell to cut interest rates, minutes after […]
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New Elizabeth Warren report chronicles ‘130 days of Elon Musk’
Tesla CEO Elon Musk listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Kevin Dietsch | Getty Images Sen. Elizabeth Warren’s office issued a report Tuesday chronicling Elon Musk’s “130 days” in President Donald Trump’s administration, accusing the billionaire of […]
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Fed Governor Lisa Cook sees tariffs raising inflation and complicating rate policy
Key Points Federal Reserve Governor Lisa Cook raised some concerns regarding the progress on inflation, saying recent lower readings could reverse after tariffs work their way through the economy. President Donald Trump’s trade policy could take a toll on the labor market, she said, even though she suspects the economy is in relatively good shape […]
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