Breaking News: Economy
Canadians pull back on U.S. trips, threatening to widen United States’ $50 billion travel deficit
Canadians hold an “Elbows Up” protest against U.S. tariffs and other policies by U.S. President Donald Trump, at Nathan Phillips Square in Toronto, Ontario, Canada March 22, 2025. Carlos Osorio | Reuters Canadians are skipping trips to the U.S. and visitors from other countries could soon follow threatening to deepen the United States’ $50 billion […]
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Core inflation in February hits 2.8%, higher than expected; spending increases 0.4%
The Federal Reserve’s key inflation measure rose more than expected in February while consumer spending also posted a smaller-than-projected increase, the Commerce Department reported Friday. The core personal consumption expenditures price index showed a 0.4% increase for the month, the biggest monthly gain since January 2024, putting the 12-month inflation rate at 2.8%. Economists surveyed […]
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Silicon Valley bubble risks heighten as investors pile into funds that bet on a single buzzy startup
One of the most popular acronyms in Silicon Valley these days is SPV. It stands for special purpose vehicle. In tech startup land, it’s a type of investment fund that typically involves concentrating all of its assets in one company. SPVs have blown up in recent years as investors clamor to get a piece of […]
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If Chinese-built containership fines take effect, ‘we’re out of business in U.S.,’ ocean carrier says
Niche ocean carrier Atlantic Container Line is warning the fines the U.S. government is considering hitting Chinese-built freight vessels with would force it to leave the United States and throw the global supply chain out of balance, potentially fueling freight rates not seen since Covid. “This hits American exporters and importers worse than anybody else,” […]
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Why GM stock is getting hit the hardest by Trump auto tariffs
The GM logo is seen on a water tank of the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico, on Feb. 11, 2021. Daniel Becerril | Reuters As auto stocks reacted to the latest tariff announcement out of Washington, D.C., on Thursday, General Motors took the brunt of the hit. Shares of […]
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Ferrari says it will raise prices by 10% on some models to offset auto tariffs
The Ferrari logo is seen outside the Ferrari headquarters in Maranello, Italy. Ciancaphoto Studio | Getty Images Sport | Getty Images Ferrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new U.S. auto tariffs, adding up to $50,000 to the price of a typical Ferrari. The […]
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Trump’s tariffs push will hit the U.S. harder than Europe in the short term, Santander chair says
The White House’s protectionist policies could hit the U.S. harder than Europe in the short term, Banco Santander‘s executive chair told CNBC on Thursday, as tariffs take a toll on domestic consumers. “Tariffs [are] a tax. It’s a tax on the consumer.” Ana Botín said in an interview with CNBC’s Karen Tso in Brussels on […]
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Trump’s tariffs are making the ECB’s interest rate path ‘more complicated,’ policymaker says
U.S. President Donald Trump’s tariff policies are making the path ahead for European Central Bank interest rates “more complicated,” according to Pierre Wunsch, member of the ECB’s Governing Council. “We were going in the right direction. And I was actually quite relaxed,” he told CNBC’s Karen Tso on Thursday on the sidelines of the IIF […]
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Life science stocks are under pressure due to possible NIH funding cuts. What lies ahead for the sector
A recent move by the Trump administration to substantially lower funding from the National Institutes of Health for research institutions around the country has investors fearing meaningful losses for life science tools companies. The NIH announced in early February that it would cap research funding at 15% for “indirect costs” – those that aren’t directly […]
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Former Treasury Secretary Janet Yellen to join global advisory board for bond giant Pimco
Treasury Secretary Janet Yellen speaking with CNBC’s Sara Eisen (not shown) at the U.S Treasury Department on Jan. 8th, 2024. CNBC Former Treasury Secretary Janet Yellen will be joining an advisory board for bond giant Pimco, CNBC has learned. Joining other prominent officials in the world of economics and finance, Yellen, who also served as […]
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