Breaking News: Economy
Commerce Secretary Lutnick says one trade deal is done, but waiting on approval from unnamed country’s leaders
U.S. Commerce Secretary Howard Lutnick speaks to members of the media near the White House in Washington, D.C., U.S., March 13, 2025. Nathan Howard | Reuters Commerce Secretary Howard Lutnick on Tuesday teased that the Trump administration has reached its first trade deal, but said it was not fully finalized and declined to name the […]
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White House blasts Amazon over tariff cost report: ‘Hostile and political act’
The White House on Tuesday slammed Amazon for reportedly planning to display the cost of President Donald Trump’s tariffs next to the total price of products on its site. “This is hostile and political act by Amazon,” White House press secretary Karoline Leavitt told reporters. “Why didn’t Amazon do this when the Biden administration hiked […]
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United Airlines grows highest-end Polaris airport lounge by 50% in battle for wealthy customers
United Airlines Polaris lounge in Chicago United Airlines United Airlines‘ top-tier airport lounge reopened in Chicago on Tuesday, featuring a 50% larger space and Crate & Barrel furnishings as carriers’ battle for higher-spending customers becomes more crucial. The 25,000-square-foot-Polaris lounge is in Terminal 1 at United’s home hub, Chicago O’Hare International Airport. It has seating […]
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Adidas warns it will raise prices on all U.S. products due to tariffs
Customers shop in an Adidas store on April 4, 2025 in Miami, Florida. Joe Raedle | Getty Images Sportswear giant Adidas on Tuesday said that U.S. President Donald Trump’s tariffs would result in price hikes for all its U.S. products. The company said it did not yet know by how much it would boost prices, […]
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China insists no tariff talks underway with Trump and Xi or top aides, despite U.S. claims
U.S. President Donald Trump answers reporters’ questions after exiting Marine One at the White House in Washington, D.C., on April 27, 2025. Ken Cedeno | Reuters China on Monday once again denied that it is in talks to resolve its tariff war with the U.S., after a series of statements by President Donald Trump and […]
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Empty shelves, trucking layoffs lead to a summer recession in Apollo’s shocking trade fight timeline
The Washington Post | The Washington Post | Getty Images The economic impact of the tariffs imposed by the Trump administration will soon become apparent to everyday Americans and lead to a recession this summer, according to Apollo Global Management. Torsten Slok, chief economist at Apollo, laid out a timeline in a presentation for clients […]
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Musk’s DOGE cuts helped his companies avoid over $2 billion in legal liabilities, new Senate report alleges
Elon Musk may skirt more than $2 billion in possible financial liabilities by exercising his influence over the federal government, a new report from Senate Democratic committee staffers out Monday alleges. Musk’s ‘Department of Government Efficiency’ has brought sweeping changes to Washington with its slash-and-burn campaign to gut agencies and purge the federal workforce. President […]
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Musk’s DOGE cuts helped his companies avoid over $2 billion in legal liabilities, new Senate report alleges
Elon Musk may skirt more than $2 billion in possible financial liabilities by exercising his influence over the federal government, a new report from Senate Democratic committee staffers out Monday alleges. Musk’s ‘Department of Government Efficiency’ has brought sweeping changes to Washington with its slash-and-burn campaign to gut agencies and purge the federal workforce. President […]
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Wealthy consumers upped their spending last quarter, while the rest of America is cutting back
Key Points Lower-income earners are reining in their transactions to focus on essentials, while the wealthy continue to spend freely on perks including dining out and luxury travel, according to first-quarter results from U.S. credit card lenders. Synchrony, which provides store cards for retail brands including Lowe’s and T.J. Maxx, spending fell 4% in the […]
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Stocks making the biggest moves premarket: Boeing, Domino’s Pizza, Eli Lilly, Progressive and more
Check out the companies making headlines before the bell. Boeing — Shares of the airplane manufacturer added nearly 2% on the back of a Bernstein upgrade to outperform from market perform. The firm said Boeing “should be on a much firmer path than in 2023” as it recovers from the 2024 Alaska Airlines controversy and […]
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