Economy
CrowdStrike announces 5% job cuts, says AI is ‘reshaping every industry’
George Kurtz, co-founder and chief executive officer of Crowdstrike Inc., speaks during the Montgomery Summit in Santa Monica, California, U.S., on Wednesday, March 8, 2017. Patrick T. Fallon | Bloomberg | Getty Images Cybersecurity software maker CrowdStrike said Wednesday it plans to lay off 500 employees, representing about 5% of its workforce, a move CEO […]
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Republican candidate in North Carolina Supreme Court race after judge rejects challenge
Judge Jefferson Griffin, the Republican candidate for the N.C. Supreme Court listens to testimony in Wake County Superior Court on Friday, Feb. 7, 2025, in Raleigh, North Carolina. Griffin trails North Carolina Supreme Court Justice Allison Riggs by 734 votes following two recounts of the November 2024 election results. Robert Willett | Raleigh News & […]
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Fed holds rates steady as it notes rising uncertainty and stagflation risk
Key Points The Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5%, where it has been since December. The post-meeting statement noted the recent market volatility and how that is factoring into the central bank’s policy decisions. “Uncertainty about the economic outlook has increased further,” the statement said. Source
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Trump digs in on high China tariffs ahead of trade talks
U.S. President Donald Trump speaks during a swearing-in ceremony for the new U.S. ambassador to China, former U.S. Senator David Perdue, at the White House in Washington, D.C., U.S., May 7, 2025. Leah Millis | Reuters President Donald Trump said Wednesday he would not consider lowering the United States’ 145% tariffs on China in order […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in March. Text removed from the March statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements. […]
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Fed meeting live updates: Fed flags rising inflation risk, traders await insight from Powell presser
Federal Reserve holds steady on rates once more, as expected Central bank policymakers kept a steady hand on interest rates, maintaining them at the target range of 4.25% to 4.5%. This time, the Federal Open Market Committee noted that it is “attentive the risks to both sides of its dual mandate and judges that the […]
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China says U.S. asked for trade meeting in Switzerland
The upcoming meeting in Switzerland between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart was requested by the Trump administration, Chinese officials said Wednesday. China will be entering the talks “firmly” opposed to U.S. tariff hikes, and willing to participate only in a dialogue “based on equality, respect and mutual benefit,” Foreign Ministry spokesman […]
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Stocks making the biggest moves midday: Alphabet, Disney, Arista Networks, Super Micro and more
Check out the companies making headlines in midday trading. Alphabet — The tech behemoth fell 8%. Eddy Cue, senior vice president of services at Apple, said on Wednesday that Apple was “actively looking at” reshaping its Safari web browser to focus on AI-powered search functions, according to a Bloomberg report . Cue made the comments […]
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Why Target is losing out against competitors Walmart and Costco
Retailer Target is under pressure on multiple fronts: it’s facing pushback after rolling back its diversity, equity and inclusion initiatives; it’s fighting off stiffer competition from nimble competitors like Amazon; and the company has higher exposure to a decline in consumer spending amid inflation and tariff volatility than rivals like Walmart and Costco. Target’s decision […]
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Stocks making the biggest moves premarket: Disney, Super Micro, Novo Nordisk, Uber and more
Check out the companies making headlines in premarket trading. Disney — Shares of the media and entertainment company advanced more than 7% after surpassing Wall Street’s second-quarter estimates. Disney reported adjusted earnings per share of $1.45 on revenue of $23.62 billion, while analysts polled by LSEG were looking for $1.20 per share and $23.14 billion, […]
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