Finance

A Republican-backed budget package includes a new restriction for the federal Child Tax Credit that could strip the benefit from millions of children who are U.S. citizens or legal residents, according to policy experts.  The proposed tax and spending legislation — which proponents have dubbed the “one big, beautiful bill” — includes a requirement that both […]

McDonald’s Snack Wrap, a gone-but-not-forgotten customer favorite, is returning to the fast-food chain’s restaurants in the U.S. after a nine-year hiatus. The popular sandwich will reappear on menus starting July 10, 2025, according to an announcement by the company on Tuesday in which Joe Erlinger, president of McDonald’s USA, stated simply, “It’s back.” Consisting of a white-flour […]

Walt Disney Co. is laying off hundreds of employees as part of a cost-cutting measure, CBS News has confirmed.  “As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fueling the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a spokesperson said in an […]

Six Nobel laureate economists said a massive budget bill passed by House lawmakers last month and backed by President Trump would weaken key safety-net programs while greatly lifting the federal debt.  The tax and spending package, which Republicans have dubbed the “one big beautiful bill,” would hurt millions of Americans by slashing Medicaid and food […]

What is worthless, but priceless? Overlooked, but treasured? Ubiquitous, but ephemeral? What makes us stop in the street to transcend our pride and stoop to pick it up? It’s the humble, shiny, tiny penny. The Treasury announced it will cease making new pennies by early next year. Will they disappear immediately? No. But like so […]

Treasury Secretary Scott Bessent on Sunday defended the Trump administration’s escalating tariff policies, saying that while some companies have already announced price hikes, he thinks others will  choose not to. “Some are and some aren’t,” Bessent said on “Face the Nation with Margaret Brennan.” He pointed to companies like Home Depot and Amazon who have […]

Los Angeles — For years, Phil Mangano made a good living as a film and television editor in Los Angeles. “It was just job after job after job,” Mangano told CBS News. “…Very consistent work.” But after Hollywood writers and actors went on monthslong strikes in 2023, production ground to a halt.  California lost roughly […]

Hey, Team! Huddle up! I want to leverage this platform and give an ROI on your time! Corporate buzzwords: we hate them! They’re a pain point, but they never get downsized.  Now, I’m not here to suggest we onboard a holistic paradigm shift in business jargon — I mean, we can’t boil the ocean! But […]

Las Vegas — The “Welcome to Fabulous Las Vegas” sign is usually the first stop for millions of tourists. But the line to snap a photo is noticeably shorter this spring as inflation, which has brought on higher prices for visitors, has hit “Sin City” hard. “We were here last year, almost exactly the same […]

The Trump administration could pursue alternative pathways for imposing tariffs after a federal court this week struck down its use of emergency powers to enact broad levies on U.S. trading partners, according to experts. At risk is much of Mr. Trump’s trade agenda, which relies on tariffs as a way to secure better terms of […]

Summer begins with Americans’ economy ratings continuing to get a bit brighter than they were this winter — though still not good — with their outlook more mixed. But feelings of financial concern and stress are more prevalent than feelings of being secure. With a big majority still saying their incomes don’t keep pace with […]

President Trump’s sweeping tariffs on goods imported from almost every foreign nation have been ruled illegal by the U.S. Court of International Trade, marking a setback for the president’s trade agenda — and adding another level of uncertainty for U.S. consumers and businesses.  However, a federal appeals court in Washington, D.C., on Thursday temporarily halted the […]

Reality television stars Todd and Julie Chrisley were pardoned Wednesday by President Trump. The couple have been incarcerated since 2022 after being found guilty of bank and tax fraud.  Todd Chrisley, 57, has been serving a 12-year sentence at Florida’s FPC Pensacola minimum-security men’s federal prison with a release date of April 2032, according to the […]

A new acronym is popping up on Wall Street to explain investors’ reaction to President Trump’s on-again, off-again tariffs: TACO.  Coined by Financial Times journalist Robert Armstrong in a May 2 column, the tongue-in-cheek term stands for “Trump Always Chickens Out.” That phrase is meant to describe a pattern of stocks plunging when the Trump administration […]

Recent college graduates are having a harder time finding work, despite their higher education degrees, which usually give job-seekers a leg up in the labor market.  That’s according to a new report from Oxford Economics which shows that unemployed recent college grads account for 12% of an 85% rise in the national unemployment rate since mid-2023. That’s […]

Trump Media and Technology Group on Tuesday said it’s struck a deal to raise $2.5 billion that will be tapped to buy bitcoin, creating a reserve of the cryptocurrency.  The company’s move into cryptocurrency comes after Trump Media has ventured into other investment arenas, including starting exchange-traded funds, or ETFs, and separately managed accounts with […]

Trump pauses tariffs on European Union goods after negotiations – CBS News Watch CBS News Negotiators from the U.S. and the European Union met on Monday, saying they are committed to a deal. This comes after the EU president said she and President Trump had a “good call” before Mr. Trump announced a delay on […]

While the unemployment rate remains near a 50-year low, another measure of worker well-being indicates there may be bigger cracks in the labor market. The low unemployment rate, which stood at 4.2% in April, has signaled to economists and investors alike that the U.S. economy remains relatively healthy. Employers are also continuing to hire despite […]

Delta Air Lines’ 100th year takes flight – CBS News Watch CBS News In 1925, what would become Delta Air Lines started as the world’s first aerial crop-dusting operation in the Mississippi Delta region. Nearly a century after its first passenger flight, the airline has survived mergers, recessions and bankruptcy, growing from a single passenger […]

When you picture a garage sale, you might think of your neighbor’s driveway down the street, not an aviation workshop in the shadow of the world’s busiest airport, where Delta Air Lines holds their monthly surplus sale. Delta fans came from as far as Michigan and even Korea to buy the stuff the airline no […]

Extreme weather linked to climate change could spell financial ruin for many American homeowners and lead to billions in losses for lenders, a new study finds.  First Street, a research firm that studies the impact of climate change, projects in an analysis released Monday that foreclosures across the U.S. caused by flooding, wind and other weather-related […]

The supermarket chain Publix has recalled fruit and vegetable baby food sold in eight states because product testing found elevated levels of lead, according to federal health officials. Publix recalled 4-ounce Greenwise Pear, Kiwi, Spinach & Pea Baby Food pouches sold at more than 1,400 stores. The pouches were produced by Bowman Andros, a French […]

Stocks tumbled on Friday after President Trump threatened to impose a fresh round of tariffs, this time aimed at Apple and the European Union. The S&P 500 fell 39 points, or 0.7%, to close at 5,803, while the Dow Jones Industrial Average shed 256 points, or 0.6% to close at 41,603. The tech-heavy Nasdaq shed 189 […]

The massive Republican-backed budget bill — called “one big, beautiful bill” by President Trump — includes several new tax rules that could have a big financial impact on millions of workers who earn tips or overtime pay.  While the heart of the bill is an extension of Mr. Trump’s 2017 tax cuts, the legislation also […]

Fort Worth, Texas — The dinner shopping list for Darlowe Torkelson and his wife was short. At today’s prices, it consisted of just one sirloin steak and one potato.  Torkelson of Argyle, Texas, told CBS News his family doesn’t yet know the upper limit of what they are willing to pay for certain groceries. “I […]

Nike will raise prices for some of the sporting goods maker’s shoes, clothing and equipment starting this week, according to a person familiar with the matter. The price hikes will affect only certain products and are part of a seasonal adjustment, they said.  Nike footwear priced between $100 and $150 will see increases of up […]

There’s good news and bad news for the nearly 50% of Americans who say they’re planning on taking a trip this summer despite inflation concerns, a recent analysis finds.  First, the good news: While some expenses are up, there are a number of ways to save on your vacation.  To start, look at flight costs. […]

Stocks are slumping amid signs of slowing consumer spending and investor concerns about the U.S. fiscal outlook.  Target, one of the nation’s largest retailers, on Wednesday reported weaker sales for the first quarter and warned of a potential downdraft over the rest of the year as Americans react to U.S. tariffs by pulling back on […]

A dramatic demand for electricity, coupled with a rise in costs, could create massive energy challenges for the United States over the next two decades, a new report released Tuesday by ICF found. The global consulting and technology services company predicted that electricity demand could jump at least 25% in the next five years and as […]

Ever wonder what it would be like to face off against a sports legend like Tom Brady? Well, now you can. Fanatics, the global sports platform that offers everything from team shirts and collectibles to online betting, is introducing a “first-of-its-kind” skills-based contest at its second annual Fanatics Fest, the company announced Tuesday. The second […]

Washington — House Republicans plan to move ahead with a vote this week on the legislation containing President Trump’s second term agenda, which includes spending on tax cuts, as well as border security and defense priorities. Fractures in the GOP conference appeared to persist, despite the legislation’s movement out of committee, throwing its passage into […]

Spain has ordered Airbnb to block more than 65,000 holiday, or vacation, listings on its platform for having violated rules, the Consumer Rights Ministry said Monday. The ministry said that many of the 65,935 Airbnb listings it had ordered to be withdrawn did not include their license number or specify whether the owner was an individual […]

The White House on Friday touted a Republican-backed tax bill as delivering “PERMANENT tax cuts and bigger paychecks.” Yet experts say the legislation would disproportionately benefit the highest income earners, while offering far more modest gains to Americans lower down the ladder. If the bill is passed, households with more than $1 million in annual […]

“Sneakerheads” continue to line up for Nike’s Air Jordans, the most successful basketball shoe in history. The first Air Jordan shoe – the iconic black and red with a Nike swoosh – was released to the public 40 years ago for $65.  The shoe revolutionized the sneaker industry, but it almost didn’t happen. Michael Jordan’s […]

Trump warns Walmart against raising prices, saying they should “eat the tariffs” – CBS News Watch CBS News President Trump warned Walmart against raising prices on Saturday, telling the nation’s biggest retailer and grocer to “eat the tariffs.” His post comes two days after Walmart’s CEO said prices could rise amid Mr. Trump’s trade war […]

President Trump ripped into Walmart, saying on social media Saturday that the retail giant should “eat the tariffs” instead of blaming the duties on imported goods imposed by his administration for its increased prices. Walmart on Thursday warned that everything from bananas to children’s car seats could increase in price despite the softer tariffs on […]

The U.S. credit rating was downgraded by Moody’s Ratings on Friday, highlighting investor concerns about the government’s growing debt. The downgrade from the top rating of Aaa to Aa1 “reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,” the […]

High temperatures projected across the U.S. summer could take a toll on Americans’ budgets by driving up the price of keeping homes cool.  Home electricity bills are expected to rise to an average of $784 for the summer period, up more than 6% from $737 in 2024 and marking a 12-year record, according a new […]

Los Angeles — Business owner Bobby Djavaheri has imported items stockpiled inside his Los Angeles warehouse in anticipation of sky-high tariffs he fears could ultimately destroy his livelihood. “I’m finding myself in a position where I feel like my government’s not supporting me and supporting my cause,” Djavaheri told CBS News. “And it’s a very […]

Walmart on Thursday warned that even softer tariffs on China could soon force the company to raise prices on certain items.  The world’s largest retailer said President Trump’s wide-ranging levies on U.S. trade partners are impeding its ability to keep prices low for its customers.  “We can control what we can control,” Walmart CEO Doug […]

Kroger shoppers might be paying more at checkout than they bargained for. A new investigation found price tag errors at the supermarket giant’s stores leading to customers being overcharged on many items marked as discounted or on sale. Expired discount tags were found on everyday products ranging from Cheerios cereal to Nescafé instant coffee, according to […]

President Trump’s ever-changing tariffs have caused some confusion for Americans, as higher prices and expectations of empty store shelves threaten to change the ways consumers stock up on essentials. Assuaging concerns among consumers and on Wall Street — at least for the time being — a U.S. agreement with China, announced on Monday by the White House, would effectively […]

The Consumer Price Index in April rose 2.3% on an annual basis, rising less than economists had expected yet still reflecting price hikes that remain above the Federal Reserve’s goal of bringing down inflation to a 2% rate. By the numbers The CPI was forecast to rise 2.4% last month, according to economists polled by financial data […]

Microsoft and Meta earnings beat expectations Microsoft and Meta earnings beat expectations in latest report 03:11 Microsoft on Tuesday said it’s cutting 3% of its workforce across the board. The layoffs are expected to impact all levels and geographies, but will focus on reducing management levels, the company said in a statement. Notices went out […]

A bitcoin mining firm backed by President Trump’s son Eric will go public this year, the company announced Monday, deepening the Trump family’s interest in cryptocurrency. American Bitcoin — which lists Eric Trump as its co-founder and has its roots in a company backed by Donald Trump Jr. — is merging with the publicly-traded Gryphon […]

News of a U.S. agreement with China to temporarily ease tariffs sent stocks soaring on Monday, with the major indexes rising more than 2% in early trading. The S&P 500 rose 153 points, or 2.7%, to 5,812 as of 11:05 EST, while the Dow Jones Industrial Average added 1,011 points, or 2.5%, to 42,261. Early […]

How Trump’s tariffs jeopardize small businesses – CBS News Watch CBS News President Trump’s sudden and unpredictable tariffs have caused tremendous concerns among small business owners, whose livelihoods are now in jeopardy. Correspondent Jo Ling Kent talks with Marissa Held-Nordling, who fears she will soon be unable to stock her children’s boutique in Minnesota; and […]

Beth Benike is a mom, a veteran, and a small business owner – and she’s sounding the alarm. “I’ve been telling all of my friends and family that anything you want for Christmas, to get it right now, especially if you’re buying for children. If you are buying any baby products at all, get them […]

Checking your vehicle for important safety recalls Checking your vehicle for important safety recalls 02:15 General Motors is recalling 597,630 of its full-size U.S. trucks and SUVs because the vehicles’ V8 engines can fail without warning, raising the risk of a crash.  Manufacturing defects in the connecting rod and/or crankshaft engine components “can lead to […]

Rich Trumka Jr., a commissioner of the Consumer Product Safety Commission until he was fired by President Trump on Thursday, said in a letter that his dismissal is illegal and that he plans to fight the action.  “See you in court, Mr. President,” Trumka wrote in a May 9 social media post that included a […]

President Trump signaled Friday that the U.S. may be open to lowering tariffs on China. “80% Tariff on China seems right!” he wrote on Truth Social, his social media platform. “Up to Scott B.” The conciliatory tone of Mr. Trump’s post comes as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are scheduled […]

President Trump’s tariffs are making it a lot more expensive to have kids, parents and baby gear makers say. Sweeping levies imposed by Mr. Trump in April are hiking the prices of baby essentials, including car seats and strollers, amounting to a tax on parents, advocates for reducing costs for families say.  At the same […]

President Trump on Thursday announced a trade agreement with the United Kingdom. Speaking from the Oval Office, Mr. Trump said a “breakthrough” deal with the U.K. would include “billions of dollars of increased market access for American exports,” specifically agricultural products. He added that the U.K. would “reduce or eliminate” numerous nontariff barriers. The final […]

Washington — President Trump on Thursday announced the broad terms of a trade deal with Britain, which could lower the burden of his sweeping tariffs and potentially deliver a political victory for Prime Minister Keir Starmer. The president said in remarks from the Oval Office that the two countries are “affirming that reciprocity and fairness […]

The Federal Reserve said Wednesday it is leaving its benchmark interest rate unchanged, resisting pressure from President Trump to lower U.S. borrowing costs as policy makers assess the economic impact of his trade policies.  By the numbers The Fed said it will maintain the federal funds rate at its current range of 4.25% to 4.5%, […]

The humble penny, once a pocket staple, has long since lost its shine in American commerce, but it retains devoted fans who see value beyond its monetary worth.  In North Carolina’s Copper Penny Grille, owner Shelly Gref has transformed thousands of pennies into bar tops and artwork, giving Lincoln’s likeness new purpose. “It grew into […]

Two Trump administration officials will meet with their Chinese counterparts to discuss trade in the coming days, the administration said Tuesday — a potentially key moment several weeks after the United States and China imposed steep tariffs on each other. U.S. Trade Representative Jamieson Greer will “meet with his counterpart from the People’s Republic of […]

President Trump has been pushing the Federal Reserve to cut interest rates, writing on social media last month that the central bank has been “TOO LATE AND WRONG” in holding off on further reductions. Now, the Fed is set to meet on Wednesday to make its next rate decision — but Mr. Trump may need […]

The Trump administration’s plan to trim the IRS workforce has resulted in almost one-third of its tax auditors leaving the agency through March, according to a report from the U.S. Treasury Department’s watchdog. Elon Musk’s Department of Government Efficiency, or DOGE, has sought to trim the federal workforce through a combination of layoffs and so-called […]

Millions of student loan borrowers could face a wake-up call Monday as the Department of Education resumes collecting on school loans. The restart of collections comes as data from a recent analysis shows delinquency rates among people with student debt are at an all-time high.  After nearly five-years since the U.S. government first paused federal […]

President Trump on Sunday announced movies as the latest target for tariffs because the U.S. movie industry “is DYING a very fast death.” In a Truth Social post, the president said he’s authorizing the Department of Commerce and  the United States Trade Representative to begin the process of imposing a 100% tariffs “on any and […]

How Matisse became a name in pottery – CBS News Watch CBS News In 2009, when Alex Matisse founded East Fork Pottery, in Asheville, N.C., he didn’t want to use the name of his great-grandfather, the artist Henri Matisse. But his ceramics took off with fans dubbed “Potheads,” who buy, share and trade East Fork […]

Warren Buffett steps down as CEO of Berkshire Hathaway, says Greg Abel should be successor – CBS News Watch CBS News Billionaire investor Warren Buffett announced that he intends to step down as CEO of the empire he built at the end of 2025. He tapped Vice Chair Greg Abel as his successor. Jo Ling […]

Investor Warren Buffett told thousands of Berkshire Hathaway shareholders Saturday that the United States shouldn’t use “trade as a weapon” and anger the rest of the world like President Trump has done with his tariffs that roiled global markets. “It’s a big mistake in my view when you have 7.5 billion people who don’t like […]

The Three Brothers Diner has been serving the Danbury, Connecticut community for the last 50 years. The family-run business, which is managed by Stanley Kallivrousis, has navigated economic uncertainty before, including the 2008 recession and the COVID-19 pandemic. However, it is the decrease in consumer sentiment that’s now plaguing the Danbury hotspot. “People aren’t as […]

Grand Theft Auto fans will have to wait another year to get their hands on the latest version of the popular video game.  The release of Grand Theft Auto 6, the latest installment of the series, will be pushed back to May 26, 2026, Rockstar Games said in a statement on Friday. The game was […]

Kohl’s Corporation said Thursday it has fired CEO Ashley Buchanan for cause after an investigation found he had violated the company’s conflict-of-interest policies.  Buchanan was terminated after an external investigation found that he directed the company to engage in transactions that involved “undisclosed conflicts of interest,” according to the company’s statement.  An April 30 regulatory filing indicates […]

Tesla Chair Robyn Denholm said the electric vehicle maker’s board has not contacted recruitment firms to start a search for a new CEO to replace Elon Musk.  Denholm was responding to a report in the Wall Street Journal that said board members had reached out to several hiring firms to work on a formal process for […]

Las Vegas — For waiters, dealers and bartenders on the Vegas Strip, tips aren’t just a thank you — they’re a paycheck. “There are some days we do really good, and people will be surprised like, ‘Oh my God, you made that in one day?’ And then, you know, more often than not, you make […]

U.S. economic growth slowed sharply in the first quarter of 2025 as businesses rushed to stockpile goods ahead of President Trump’s sweeping tariff policies.  The nation’s gross domestic product — the total value of products and services — shrank at a 0.3% annual rate, down from growth of 2.4% in the final three months of […]

Shipments of goods from China to the U.S. are dropping sharply with the Trump administration’s steep tariffs in place, leading major U.S. retailers to warn about impending supply shortages.  The trade war between China and the U.S. has escalated over the past few weeks, with each nation hiking its import duties multiple times in a […]

The Trump administration plans to ease some tariffs on automakers to ensure the companies aren’t hit twice by its tariffs, which now apply a 25% import duty to car parts as well as 25% on steel and aluminum.  President Trump will travel to Michigan, the home base for the U.S. automobile industry, to mark his […]

Getting a college education has traditionally been seen as a way to move up the economic ladder. But an analysis by economists at the Federal Reserve Bank of New York shows that the cost of a degree may not always be worth it. The value of a college education has increasingly come into question in […]

Cohn: U.S. to feel some tariff effects in May Gary Cohn says U.S. will see effect in “transportation of goods” from tariffs in a “few weeks” 08:46 IBM on Monday announced that it will invest $150 billion in U.S. manufacturing to “fuel the economy.” The investment will include more than $30 billion that will go […]

Americans are having fewer babies, with the annual birth rate now standing near a record low. It’s a trend that has implications for the nation’s long-term outlook — and has drawn attention from the Trump administration, with the New York Times reporting that a proposal for a $5,000 “baby bonus” may be one option for […]

Is 100 days enough time to evaluate this president? His supporters generally don’t think so, but others do — perhaps because most Americans think President Trump is already making major changes to how the government — and the U.S. economy — work.  Those opening days, in public opinion terms, have been marked by Mr. Trump’s […]

American consumers are starting to feel the impact of President Trump’s tariffs on Chinese imports, especially online. Since the second week in April, sellers on Amazon have raised their prices on nearly 1,000 products, according to data from SmartScout, a price analysis software tool. The average price hike — nearly 30%, according to the company’s […]

Elon Musk’s Department of Government Efficiency, or DOGE, says it has saved $160 billion through its push to root out wasteful or fraudulent government spending. But that effort may also have come at a cost for taxpayers, with a new analysis from a nonpartisan research and advocacy group estimating that DOGE’s actions will cost $135 […]

Small business owners are begging for relief from steep new U.S. tariffs on foreign goods, saying the higher import taxes imposed on dozens of key trading partners are threatening their livelihoods.  Senator Ed Markey, ranking member of the U.S. Senate Committee on Small Business and Entrepreneurship, said in a letter to the Small Business Administration […]

The Trump administration said it will accelerate permit approvals for mining, drilling and fossil fuel production and transportation on public land, fast-tracking a review process that would normally take years.  In announcing the emergency procedures Wednesday, the Department of the Interior, which oversees the management of federal lands and natural resources, said the permitting process […]

Pope Francis’ funeral could be a boon for airlines but a pain for travelers.  As the late pontiff lies in state in St. Peter’s Basilica before his funeral at St. Peter’s Basilica on Saturday, April 26, Americans are searching for flights to pay their respects in person. Flight searches to Rome surged 250% in the three days […]

China on Thursday denied U.S. President Donald Trump’s assertion that the two sides were involved in active negotiations over tariffs, and said the U.S. should revoke its unilateral tariffs against the nation.  China’s pushback on tariffs, with U.S. import duties now standing as high as 145% on China-made products, comes after Mr. Trump said Tuesday […]

Washington — Hundreds of U.S. universities and colleges, including Harvard, Princeton, Penn, Brown, MIT, Cornell and Tufts issued a joint letter Tuesday condemning President Trump’s “political interference” in the nation’s education system. The move comes a day after Harvard University sued the Trump administration, which announced an initial funding freeze of $2.2 billion and later signaled its […]

London — European Union watchdogs fined Apple and Meta hundreds of millions of euros Wednesday as they stepped up enforcement of the 27-nation bloc’s digital competition rules. The European Commission imposed a 500 million euro ($571 million) fine on Apple for preventing app makers from pointing users to cheaper options outside its App Store. The commission, […]

Washington — The Education Department will soon begin collecting payments for student loans that are in default, including through wage garnishment for potentially millions of borrowers, the department announced Monday. Beginning May 5, the Education Department will begin involuntary collections through the Treasury Department’s offset program, which claws back delinquent debts by withholding payments such […]

Harvard University on Monday said it has filed a lawsuit against the Trump administration, alleging that it unlawfully froze billions in federal funding.  In announcing the suit, Harvard President Alan Garber wrote in a letter to the Harvard community that the university is taking action after the Trump administration announced an initial funding freeze of $2.2 […]

Stocks fell sharply on Monday as Wall Street returned from a shortened trading week and President Trump renewed his criticism of Federal Reserve Chair Jerome Powell, branding him as a “major loser.” The S&P 500 fell 125 points, or 2.4% to close at 5,158, while the Dow Jones Industrial Average tumbled 972 points, or 2.5%, […]

New Delhi — U.S. Vice President JD Vance arrived in India on Monday for a four-day visit as New Delhi looks to avoid U.S. tariffs, negotiate a bilateral trade deal with Washington and strengthen ties with the Trump administration. Vance will meet Prime Minister Narendra Modi on the first day of his largely personal visit. The […]

Canada car dealership braces for tariffs Canadian car dealership depicts anger over Trump tariffs 04:57 Honda Motor this week said it is moving production of its Civic Hybrid hatchback from Japan to the U.S. The announcement comes amid a barrage of tariffs by the Trump administration, including a 25% levy on imports from Canada and […]

The battle between President Trump and Harvard University has moved to a new front, with the IRS now considering whether to revoke the Ivy League school’s tax-exempt status.  A final decision has not yet been made by the IRS, CBS News’ Aaron Navarro reports. But the effort comes after Mr. Trump on Tuesday suggested that Harvard […]

Car buyers say they are not racing to the dealership amid tariffs – CBS News Watch CBS News Car manufacturers are already reviewing their 2026 lineup. However, President Trump’s tariffs are giving buyers some pause. Industry experts say even if you’re not buying a car yourself, it will cost you. CBS News New York’s Ali […]

Dow Jones falls more than 500 points Dow Jones falls more than 500 points, fueled by UnitedHealth tumble 03:22 The stock market will be closed on April 18 in observance of Good Friday.  Both the New York Stock Exchange and the Nasdaq will pause operations for the religious holiday. Trading will resume on Monday, April […]

President Trump and his team are studying whether firing Federal Reserve Chair Jerome Powell is an option, according to National Economic Council Director Kevin Hassett.  Though appointed by the president and approved by Congress, the Federal Reserve chair is an independent role. Powell was nominated to lead the Fed by Mr. Trump in 2017 and was […]

President Trump took aim at Federal Reserve Chair Jerome Powell on Thursday, writing in a social media post that Powell should be cutting interest rates and adding that his “termination cannot come fast enough.” Mr. Trump’s comments on his social media app, Truth Social, come after Powell delivered a speech on Wednesday that warned of […]

Eli Lilly and Co., the maker of Zepbound and Mounjaro, announced success Thursday of its Phase 3 clinical trial for a once-daily GLP-1 pill — an oral form of the blockbuster medication used for diabetes and weight loss. The trial of the drug, orforglipron, measured its efficacy and safety in adults with Type 2 diabetes […]

Italian Prime Minister Giorgia Meloni was to meet at the White House on Thursday with President Trump, in what her aides have called a high-stakes “commercial peace mission.” European leaders are hoping Italy’s right-wing premier can position herself as a bridge between the Trump administration and the European Union, which Mr. Trump and his top aides […]

Zoom, the popular video communications service, was down for tens of thousands of users Wednesday, according to website tracker Downdetector. At around 3:00 p.m. EST Wednesday, roughly 68,000 users reported problems using the videoconferencing tool. Most Zoom customers reported issues using the web application, while many also said they couldn’t successfully use the mobile app, […]

If you’re still scrambling to get your taxes filed before the April 15 deadline, an extension can take the pressure off. Normally, the IRS recommends that people file their income tax return as early as possible. But that’s not always feasible, whether because of personal circumstances or a complicated tax situation. For those in a bind, […]

Meta CEO Mark Zuckerberg sparred Tuesday with a Federal Trade Commission attorney over the meaning of emails the Facebook founder wrote about why he wanted to acquire Instagram, as a historic antitrust trial alleging Meta illegally monopolized the social media market went into its second day. Zuckerberg returned to the witness stand on Tuesday to […]

Will Trump or Xi initiate tariffs talks? Will Trump or China’s Xi initiate tariffs talks as trade war escalates? 07:26 The Chinese government has told the country’s domestic airlines to stop accepting deliveries of Boeing jets as a trade war between the world’s two largest economies escalates, Bloomberg News reports. China is also instructing its carriers […]

Meta Platforms CEO Mark Zuckerberg took the stand Monday in a Washington, D.C., courtroom to defend his social media company from federal allegations that the technology giant is a monopoly.  Meta, the parent company of Facebook, Instagram and WhatsApp, is facing off with the Federal Trade Commission on Monday, for Day one of a landmark […]

President Donald Trump’s firings at the Department of Health and Human Services included the entire office that sets federal poverty guidelines, which determine whether tens of millions of Americans are eligible for health programs such as Medicaid, food assistance, child care, and other services, former staff said. The small team, with technical data expertise, worked […]

JPMorgan Chase CEO Jamie Dimon said the U.S. economy faces a critical stretch, while also warning of the ongoing uncertainty caused by President Trump’s tariff policies.  “The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, […]

The Trump administration’s volley of tariffs has U.S. companies scrambling for ways to absorb — and if possible avoid — the added business costs. Some enterprises, from small businesses to nationally recognized brands, have already announced higher prices, citing President Trump’s tariffs. While others, from footwear companies to furniture brands, are warning consumers to brace […]

Smartphones, computers and other electronics have been exempted from the Trump administration’s escalating trade war with China. According to a notice published late Friday by the U.S. Customs and Border Protection office, a host of popular high-tech products germane to the American consumer won’t be subject to tariffs and will buffer the public from cost increases for […]

All sense of survivors’ guilt was fleeting for those residents whose homes remained standing after wildfires ripped through the Los Angeles area three months ago. Many worried that smoke from the Eaton wildfire that destroyed more than 9,000 structures and killed 18 people may have carried toxins, including lead, asbestos and heavy metals, into their […]

After one of the most turbulent weeks on Wall Street in recent history, stocks ended higher on Friday, with investors setting aside concerns — at least temporarily — about the growing trade war between the U.S. and China.  The S&P 500 gained 95 points, or 1.8%, to 5,363, while the Dow Jones Industrial Average added […]

U.S. stock futures all moved into positive territory Friday after initially being in the red following China’s announcement that it is raising tariffs on U.S. imports to 125% from 84%, the latest escalation in the trade war between the two countries. Beijing’s move takes effect Saturday and follows President Trump hiking U.S. levies on imports […]

Even as stocks plunged in reaction to his administration’s sweeping tariffs, President Trump expressed confidence in his trade policies, saying last week that “markets are going to boom.” But by Wednesday, a collective thumb’s down to the tariffs by bond investors had given Mr. Trump pause.  With U.S. and global financial market tumbling, he abruptly suspended […]

A spokesperson for China’s Commerce Ministry said Thursday that Beijing hoped the U.S. would work to de-escalate the trade war between the world’s two largest economies after President Trump announced a pause on higher tariffs he had imposed on many other countries. “China’s position is clear and consistent: the door to talks is open, but […]

The stock market exploded higher on Wednesday to one of their best days in history after President Trump said he would place a 90-day pause on his reciprocal tariffs, adding that he would lower that rate to 10% for most countries effective immediately. The Dow Jones Industrial Average surged 2,963 points, or 7.9%, to close […]

President Trump’s tariffs on imports from dozens of countries came into force Wednesday, including 104% on goods from China, dramatically ramping up a potential global trade war. The tariffs took hold at 12:01 a.m. EDT. Mr. Trump’s tariffs have shaken the dynamics of the decades-old global trading order, increased recession fears and sent shudders through […]

Stocks shed their gains in the afternoon after an earlier rebound on Tuesday, with the Dow Jones Industrial Average falling 0.8% after the Trump administration said it will impose a 104% tariff on China beginning at 12:01 a.m. EDT Wednesday.  Tuesday’s losses add to the three-day sell-off that has wiped out trillions in market value amid […]

Overseas shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets calmed somewhat after the shocks from President Trump ‘s tariff hikes. The modest rebound for most markets followed a wild day on Wall Street, where stocks careened after Trump threatened to crank […]

President Trump has vehemently defended the sweeping tariffs unveiled by his administration on what he dubbed “Liberation Day” last week, even as they threaten to spark a global trade war and have sent stock markets tumbling around the world.  In the United States, many are concerned about levies driving up the price of everyday goods, and Goldman […]

Overseas financial markets plummeted Monday and U.S. stock futures came under renewed selling pressure after leading indexes crumbled last week amid investor fears over the economic fallout from the Trump administration’s latest tariff salvo. Tokyo’s Nikkei 225 index tumbled 7.8%. Hong Kong’s Hang Seng plunged 13.2% — its steepest drop since the 1997 Asian financial crisis […]

Washington — President Trump on Friday said he would sign another executive order to delay enforcement of a law that effectively bans TikTok, amid talks about a possible deal to sell the widely popular platform.  Mr. Trump signed an executive order on his first day directing the Justice Department to not enforce the ban for 75 […]

Frito-Lay issued a recall of some bags of Tostito’s tortilla chips, saying the snack foods may have been contaminated with undeclared products. The recall applies to 13-ounce bags of the company’s Tostitos Cantina Traditional Yellow Corn Tortilla Chips. The bags could include nacho cheese tortilla chips and therefore may contain undeclared milk allergens, the company […]

Europe vowed retaliation. China plotted tariffs of its own. Mexico scrambled to blunt the blow. But while the world’s leaders were wringing their hands over President Donald Trump’s announcement of sweeping tariffs on U.S. imports, Argentina’s right-wing president was ebullient, feted at Mr. Trump’s Mar-a-Lago club. As part of his enthusiastic outreach to Mr. Trump, […]

When announcing his latest round of tariffs on April 2, President Trump veered into the subject of eggs, noting that prices “dropped now 59%, and they’re going down more, and the availability is fantastic.”  Wholesale egg prices — or the price paid by large buyers like grocery stores — have declined 43% since year start, […]

Financial markets ended a tumultuous week with a thud, as stocks tumbled for a second straight day on concerns about the economic fallout from new U.S. tariffs and the prospects of a global trade war. President Trump’s announcement of steep tariffs on Wednesday shocked investors and sent economists scurrying to revise downward their forecasts for […]

Amazon has told the White House it is interested in buying TikTok ahead of a key deadline by which its parent company, China-based ByteDance, must either sell the popular social media app or face a ban in the U.S., CBS News has learned, according to two people familiar with discussions.  Amazon has submitted a bid […]

Stocks cratered in the U.S. on Thursday as anxious investors tried to assess the potential economic impact of the latest round of Trump administration tariffs. The Dow Jones Industrial Average plunged 1,679 points, or 4%, to close at 40,546. The S&P 500 sank 274 points, or 4.8%, its biggest one-day drop since Covid-19 torpedoed financial […]

Possible economic impact of new Trump tariffs Possible economic consequences of Trump’s sweeping new tariffs 06:21 President Trump on Wednesday, announced so-called reciprocal tariffs on imports from about 90 nations, in addition to a 10% across-the-board tax applied to all imports to the U.S. Describing the announcement as “Liberation Day” the president said the new […]

  30m ago Biggest takeaways from Trump’s tariff announcement Biggest takeaways from Trump’s tariff announcement 09:56 President Trump announced a 10% tariff Wednesday on all countries and additional reciprocal tariffs on the “worst offenders.” CBS News’ Weijia Jiang, Kelly O’Grady, Jo Ling Kent and Margaret Brennan break down the unveiling and its likely impact. https://www.cbsnews.com/live-updates/trump-liberation-day-announcement-tariffs/#post-update-f82b1497 […]

Hooters, the U.S.-based restaurant chain known for chicken wings and “Hooters Girls” skimpy wait-staff outfits, has filed for bankruptcy protection. HOA Restaurant Group filed the motion for Chapter 11 protection Monday in the North Texas Bankruptcy Court in Dallas. The company ran into financial woes as its debts mounted, but says it intends to stay […]

Sen. Cotton on China, TikTok Republican Sen. Tom Cotton on China, TikTok and the risks he sees for America 06:11 President Trump will consider a final proposal for TikTok on Wednesday, sources familiar with the planning tell CBS News. The administration is finalizing plans for potential investors that could include Blackstone and Oracle, as well […]

President Trump’s forthcoming tariffs on automobiles threaten to make cars more expensive, and some consumers are responding by heading to dealerships before the levies go into effect. Mr. Trump last week announced a 25% tariff rate on vehicles and auto parts imported into the U.S., which are set to go into effect April 2.  The levies will […]

Stocks whipsawed on Monday ahead of President Trump’s plan to announce more tariffs on April 2, with the market initially dipping in early trading before recovering later in the day. Even so, those gains couldn’t offset steep losses recorded earlier in the month, with the S&P 500 marking its worst quarterly performance since 2022.  Mr. […]

The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed “liberation day.” The announcement is viewed by economists as the culmination of his “America First Trade Policy,” an executive order he signed on his first day in office aimed at revitalizing U.S. manufacturing.  Mr. Trump […]

After a week that brought tough economic news and polling showing Americans’ views of the economy are still sour, most say President Trump has focused too much on tariffs — which they believe will end up raising prices — and not enough on lowering prices.  This has Americans collectively skeptical right now about the ability of Mr. […]

Flight bookings between Canada and the U.S. are plunging amid rising trade tensions between the two allied nations. Demand, measured by passenger bookings on flights between Canada and the U.S., has “collapsed,” falling 70% compared to the same period last year, according to a March 26 report from OAG aviation, a flight analytics company. Visits from Canada […]

Shawn Fain, the president of the United Automobile Workers, assailed a new executive order signed this week by President Trump as an attack on federal workers. He compared it to the 1981 air traffic controller strike, when President Ronald Reagan fired 11,000 air traffic controllers.   “This is 100 times worse than PATCO ever dreamed […]

North Liberty, Iowa — At the weekly senior lunch social in North Liberty, Iowa, chicken was on the menu, but Social Security was top of mind. Iowa, like the U.S., is aging. One in four people in the state is age 60 and older, according to the Iowa Department of Health and Human Services. Uncertainty in […]

Stocks are taking a battering on Friday amid growing concerns on Wall Street about the impact of President Trump’s tariff regime as well as hotter-than-expected price data, sparking worries that the Federal Reserve is far from declaring victory on inflation. The Dow Jones Industrial Average tumbled 758 points, or 1.8%, to 41,541.09 in Friday afternoon […]

President Trump on Wednesday announced 25% tariffs on vehicles and auto parts imported into the U.S. The new duties could lead to sticker shock on a wide range of automobiles for American consumers, including those manufactured in the United States, analysts say. Few vehicle manufacturers will be spared by the fresh levies, which are aimed at revitalizing […]

Mega Millions will roll out several changes next month, including new ticket prices, jackpots and an increase in the odds of winning, the multistate lottery game announced. Players will need more than $2 and a dream to play. After the April 4 drawing, tickets will cost $5 each, Mega Millions said in a statement Tuesday. […]

Some Social Security recipients could soon find themselves in the crosshairs of a policy that advocates for seniors say could cause financial hardship for many older Americans. Starting Thursday, the Social Security Administration will begin clawing back overpayments from the retirement program by taking 100% of a beneficiary’s monthly check until the money is repaid, […]

Stocks skidded in afternoon trading after the White House signaled that President Trump on Wednesday would announce more tariffs, with the latest salvo targeting U.S. auto imports.  The S&P 500 dropped 64 points, or 1.1%, to close at 5,712, the Dow Jones Industrial Average fell 0.3% and the Nasdaq Composite nosed down 2% as investors […]

President Trump’s nominee to run the Social Security Administration, Frank Bisignano, faced questions about customer service, erroneous payments and concerns about potential interests in privatizing the agency during a Senate confirmation hearing on Tuesday.  Some Senators also tried to nail down Bisignano’s stance on efforts by the Elon Musk-helmed Department of Government Efficiency‘s (DOGE) efforts to […]

An encrypted messaging app called Signal is drawing attention and questions after top Trump officials — including Defense Secretary Pete Hegseth and Vice President JD Vance — allegedly used the service to discuss a highly sensitive military operation while inadvertently including The Atlantic’s editor-in-chief, Jeffrey Goldberg, in the chat. On Monday, Goldberg published a piece […]

23andMe, a formerly high-flying genetic testing company, announced Sunday that it was declaring bankruptcy and that it would seek a buyer.  The company also said CEO and co-founder Anne Wojcicki is resigning immediately and will be replaced by Chief Financial and Accounting Officer Joe Selsavage as interim chief executive. 23andMe moved in November to slash […]

Auto dealers face uncertainty as tariff hikes loom Auto dealers face uncertainty as tariff hikes loom 01:59 South Korean auto giant Hyundai on Monday announced a multibillion-dollar investment in the United States, including a new $5.8 billion steel plant. The plant, which will be based in Louisiana, will create 1,300 jobs in the U.S., Hyundai […]

President Donald Trump announced Friday that Boeing will build the Air Force’s future fighter jet, which the Pentagon says will have stealth and penetration capabilities that far exceed those of its current fleet and is essential in a potential conflict with China. Known as Next Generation Air Dominance, or NGAD, the manned jet will serve […]

Stocks closed in the green, eking out a small gain Friday and snapping a four-week losing streak. After opening sharply lower, leading indexes moved higher in afternoon trading, buoyed by President Trump suggesting he’s willing to be flexible as the U.S. negotiates over tariffs with trading partners. The S&P 500 and Dow Jones Industrial Complex […]

The family of a former Boeing quality control manager who police say killed himself after lawyers questioned him for days about his whistleblowing on alleged jumbo jet defects are suing the aviation giant. Boeing subjected John Barnett to a “campaign of harassment, abuse and intimidation intended to discourage, discredit and humiliate him until he would either give […]

President Trump’s executive order on Thursday starting the process of dismantling the Department of Education could throw federal student loan programs into disarray and lead to frustration for millions of borrowers, according to experts.  The Education Department’s remit is broad. The agency manages student loans for more than 40 million Americans; oversees $18 billion in […]

Los Angeles — With a 25% tariff on imported vehicles and vehicle parts from Canada and Mexico set to take effect on April 2 as part of President Trump’s trade wars, car shoppers are unsure about whether to buy now or risk facing higher prices later. Even after 20 years of selling cars, general manager […]

DoorDash and fintech company Klarna are joining forces to offer customers of the food delivery app the option of buying now and paying later. DoorDash customers will have the option either to pay in full, to pay in four equal installments or to postpone payment to “a more convenient time, such as a date that […]

Segway is recalling about 220,000 Segway scooters sold nationwide because the product’s folding mechanism can fail while in use, posing a fall hazard that has left 20 people with injuries including broken bones, bruises and lacerations, the company said Thursday. The recall involves all Segway Ninebot Max G3OP and Max G30LP KickScooters, according to a notice […]

For President Trump, the barrage of tariffs the U.S. is ready to unleash on the country’s largest trading partners on April 2 amounts to “Liberation Day,” as he described the trade measures Thursday on social media. To the Federal Reserve, as Chair Jerome Powell relayed on Wednesday, tariffs are a broadside on economic growth. Where […]

Ben & Jerry’s says its parent company Unilever unlawfully fired its CEO David Stever over disputes involving the brand’s social mission and taking a stance on polarizing political issues.  In an amended complaint filed in the Southern District of New York late Tuesday, the ice cream brand known for its outspoken views on human rights […]

The Federal Reserve held its benchmark interest rate steady on Wednesday, with Chair Jerome Powell saying there is “high uncertainty” about the potential impact of the Trump administration’s trade and other economic policies.  “Uncertainty around the economic outlook has increased,” the Fed stated in its announcement. “The committee would be prepared to adjust the stance […]

As tariff uncertainty continues to roil the stock market, some economists believe the U.S. could be headed toward a recession, a possibility that even the Trump administration has declined to rule out. But how close are we to a recession, and how will we know when we’re in one?  While it is notoriously hard to predict a […]

Amazon to post recalls and product safety alerts on its website Amazon to post recalls and product safety alerts on its website 02:51 Amazon is suing the U.S. Consumer Product Safety Commission over the government agency’s order requiring the online retailer to recall hundreds of thousands of potentially hazardous products sold by other sellers on […]

President Trump’s tariff policies could make building or renovating a home in the U.S. more expensive, according to builders.  The rising costs of construction materials, including lumber, aluminum and steel, could add $9,200 in costs for a typical home, according to a new estimate from the National Association of Home Builders (NAHB), based on data from […]

Stocks on Monday continued to claw back some losses from last week, buoyed by data on retail sales around the U.S. that shows the economy is still trudging forward. “In our view, this morning’s February retail sales report offers evidence of a limited, modest economic slowdown, rather than signaling a gathering recession,” said Jennifer Timmerman, […]

Washington — Irish Taoiseach Micheál Martin said he hopes dialogue can resolve the trade war between the U.S. and the European Union after President Trump Thursday threatened to impose 200% retaliatory tariffs on European wines and alcohols.  The tariffs were a response to the European Union’s counter-tariffs against Mr. Trump’s initial steel and aluminum hikes.  […]

In its 266th year of brewing, Guinness is experiencing an unprecedented “golden age” in America, chugging its way to become the fastest growing imported beer in the U.S. as St. Patrick’s Day revelers prepare to celebrate across both sides of the Atlantic. Guinness, the Irish beer that has been around since before the American Revolution, […]

The Trump administration’s recent changes to student loans are causing frustration and confusion for some borrowers. In response to a February court ruling that blocked some Biden-era programs, the Education Department has taken down online and paper applications for income-driven repayment plans. “This especially hurts anyone who’s lost their jobs, including federal workers,” said Natalia […]

U.S. consumer sentiment swooned in March to a more than two-year low, with a preliminary gauge released by the University of Michigan proving far weaker than economists had expected. The preliminary results show the index fell to 57.9, compared with 64.7 a month ago, according to the Friday report. The reading marks the lowest level since November […]

Some signs of the U.S. economy’s trajectory, including consumer sentiment plunging to a two-year low, U.S. stocks sinking and President Trump’s foreign trade policy creating a climate of uncertainty for U.S. businesses, are pointing downward. There’s also another, less-closely watched index that is showing signs of trouble ahead.  The Russell 2000, a stock index made up of small […]

Electric vehicle maker Tesla is warning that the Trump administration’s trade policies could be detrimental to U.S.-based EV companies.  In an unsigned March 11 letter to the Office of the United States Trade Representative (USTR), the company — owned by billionaire Elon Musk, who is currently a special adviser to President Trump — encouraged the […]

The Social Security Administration could soon lose as many as 10,000 workers, according to former agency leaders who expect a large portion of federal workers to accept a buyout offer from the agency.  The SSA last month announced a restructuring initiative that gives all employees the option to accept “voluntary separation incentive payments” to leave the […]

Washington — President Trump on Thursday threatened to impose tariffs on wines, Champagnes and other alcoholic products imported to the U.S. from France and other European countries in response to raised tariffs the European Union placed on American whiskey. In a post to Truth Social, the social media company the president owns, Mr. Trump said […]

Inflation in February rose 2.8% on an annual basis, slightly lower than economists had forecast but continuing to signal that price hikes remain elevated despite the Federal Reserve’s efforts to tame inflation to a 2% annual rate.  By the numbers The Consumer Price Index was forecast to rise 2.9% last month, according to economists polled […]

President Trump sparked concerns this week when he declined to rule out the possibility of a U.S. recession this year. Asked on Fox news if he expects such a slump, Mr. Trump said, “I hate to predict things like that. There is a period of transition because what we’re doing is very big.” U.S. Commerce […]

Stocks racked up heavy losses for a second day on Tuesday in a volatile session that had investors fixated on President Trump’s ever-evolving trade war with Canada and the direction of the U.S. economy. “Unless and until we know where the goal posts actually are on trade and tariffs, this uncertainty will continue to weigh […]

Airbus is investigating corrosion issues on some of its A220 passenger jets. The issue has been found on what the manufacturer calls a “limited population” of A220s, including some operated by U.S. airlines. The manufacturer and multiple airlines said the issue does not constitute an immediate safety issue. “Regular maintenance checks are scheduled to ensure […]

China’s retaliatory tariffs went into effect Monday, spelling trouble for American farmers by making U.S.-grown crops more expensive for their top purchaser. Beijing imposed the levies in response to President Trump’s extra 10% blanket tariff on Chinese goods. Under China’s retaliatory action, U.S. farmers now face levies of 15% on chicken, wheat and corn, and […]

U.S. stocks thudded lower on Monday — continuing the prior week’s losses — after President Trump said the economy faces a “period of transition” due to his aggressive trade policies and would not rule out a recession this year.  The president’s trade war with China heated up on Monday as Beijing began implementing retaliatory tariffs […]

Big Tech’s big bet on nuclear power – CBS News Watch CBS News Faced with increasing demand for energy to fuel artificial intelligence, and the need to cut down on carbon emissions, companies like Microsoft, Google and Amazon have announced major investments in nuclear power. Correspondent David Pogue visits Three Mile Island in Pennsylvania, where […]

It might have seemed like one of the weirder headlines of 2024: Microsoft is paying $1.6 billion to restart Three Mile Island. That’s the nuclear power plant in Pennsylvania whose reactor #2 had a partial meltdown in 1979. There were no injuries, and nobody died, but it set the nuclear industry back years. Only two […]

Buying a car can be a fraught financial decision even in the best of times. Now, car shoppers are facing the added pressure of deciphering U.S. tariff policy.  On Wednesday, President Trump issued a one-month delay for U.S. automakers on tariffs placed on imports from Canada and Mexico, trading partners that provide many of the […]

Federal Reserve Chair Jerome Powell said Friday that the central bank can remain patient in adjusting its benchmark interest rate, citing uncertainty around the potential impact of President Trump’s economic policies.  Powell said the Trump administration is making policy changes in several areas, including trade, taxes, government spending, immigration and regulation, and added that the […]

What is the best time to claim your social security? What is the best time to claim your social security? 03:51 The Social Security Administration (SSA) said it is reinstating a plan to recover 100% of overpayments to beneficiaries, a policy the agency had abandoned last year after an outcry over cases in which the […]

Employers across the U.S. added 151,000 jobs in February, below economists’ forecasts and pointing to a slowdown in the labor market amid signs of slowing economic growth. The numbers Economists had forecast that the economy added 160,000 jobs last month, according to a poll by FactSet.  The unemployment rate last month was 4.1%, slightly higher […]

Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money. Walgreens said Thursday that Sycamore will pay $11.45 per share, giving the deal an equity value just under $10 billion. Shareholders could eventually receive up […]

Business worries over tariffs impact Business owner worries over impact of President Trump’s new tariffs 03:18 President Trump on Thursday said he will pause 25% tariffs on U.S. imports from Mexico that are covered under a 2020 trade agreement, delaying levies imposed on the nation and on Canada earlier this week.  Mr. Trump announced the delay […]

Businesses large and small are bracing for the impact of the Trump administration’s new tariffs on U.S. imports from Mexico, Canada and China — and preparing to pass on the pain to consumers.  Best Buy CEO Corie Barry said this week that the electronics retailer is particularly exposed to the tariffs, noting that China and Mexico are […]

Beijing — China has responded to President Trump’s trade war with defiance, something Mr. Trump is not accustomed to. Now facing 20% tariffs on all exports to the U.S., Beijing has refused to back down — despite its own economic problems — and is hitting the U.S. with its own retaliatory tariffs. The air of […]

The Hong Kong-based conglomerate that operates ports near the Panama Canal has agreed to sell shares of its units that operate the ports to a consortium including BlackRock Inc., after President Trump alleged Chinese interference with the operations of the critical shipping lane.  In a filing, CK Hutchison Holding said Tuesday that it would sell […]

President Trump’s imposition of blanket 25% tariffs on all goods imported from Canada and Mexico drew swift vows of retaliation from the United States’ immediate neighbors on Tuesday. China, which was hit with a second 10% tariff on U.S. exports since Mr. Trump took office, bringing the total levy to 20%, immediately announced its own […]

Washington — President Trump said Monday that he had decided to move forward with 25% tariffs on nearly all goods imported from Mexico and Canada, after taking a month for aides to negotiate a potential reprieve.  The tariffs went into effect at 12:01 a.m. on Tuesday, hours before Mr. Trump’s first joint address to Congress […]

Accelerating semiconductor innovation with AI and data insights Accelerating semiconductor innovation with AI and data insights 08:38 Washington — President Trump on Monday will announce that a leading Taiwanese semiconductor chip company plans to invest $100 billion in new manufacturing plants in the U.S., two sources tell CBS News.  Taiwan Semiconductor Manufacturing Company, or TSMC, […]

President Trump on Sunday named five cryptocurrencies under consideration for a new U.S. “strategic reserve,” sending their values skyrocketing and partly reversing a recent slump. In a post on Truth Social, Mr. Trump said the President’s Working Group on Digital Asset Markets, a group he set up through an executive order shortly after taking office, is […]

Hollywood has been re-inventing itself for more 100 years. Change is part of the culture. But a pocket-sized “Sunset Boulevard”? That’s not a close-up! “It’s the pictures that got small.” Truly! CBS News We visited the Egyptian Theatre in Los Angeles. Built in 1922, it was home of the very first Hollywood premiere, when Douglas […]

Social Security Administration workers are warning that the Trump administration’s plan to significantly shrink the agency could cause chaos and hinder their ability to provide service to the millions of retirees, disabled people and other Americans who rely on the program. The SSA’s restructuring comes after President Trump vowed on the campaign trail not to […]

President Trump threatens major tariff increases on Mexico, Canada President Trump threatens major tariff increases on Mexico, Canada 04:42 Experts are expressing concern that steep new U.S. tariffs primed to take effect on March 4, along with planned levies on other trading partners, could fan inflation and slow the nation’s growth — an economic malaise […]

The personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation measure, rose 2.5% in January on an annual basis, matching economists’ expectations and providing some reassurance on the heels of hotter-than-expected inflation data earlier this month. The PCE index and other inflation yardsticks, such as the Consumer Price Index, measure the change in prices over […]

Citigroup mistakenly credited $81 trillion to a customer’s account instead of $280 before reversing the transaction hours later, the Financial Times reported on Friday. The error took place last April and was missed by a payments employee and a second worker before it was cleared to process the following day, according to the newspaper, which […]

President Trump on Tuesday unveiled a new pathway to residency: a “gold card” aimed at wealthy foreigners willing to pay millions for the right to live in the U.S. That term is a play on the green card, more officially known as a permanent residency card, which allows non-citizens to live and work permanently in […]

Washington — A Senate committee voted to advance former GOP Rep. Lori Chavez-DeRemer’s nomination to lead the Labor Department under President Trump on Thursday with the help of a trio of Democrats.  The Senate Committee on Health, Education, Labor and Pensions voted 14 to 9 on Thursday to advance Chavez-DeRemer’s nomination for a vote in […]

Elon Musk’s Starlink satellite internet service could take over a Federal Aviation Administration contract to upgrade the nation’s air traffic control systems, The Associated Press reported. Starlink’s internet equipment has already been installed in at least two different FAA facilities, according to the wire service, which cited government employees and other people familiar with the […]

London — Sales data show many Europeans, seemingly angry with Elon Musk as he navigates his close relationship with President Trump to influence U.S. policy, may be choosing to steer clear of Tesla vehicles. A sharp decline in sales comes as anti-Musk ads appear in the U.K. and other countries alluding a comparison to Adolf Hitler.  […]

U.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday, with inflation seemingly stuck and a trade war under President Donald Trump seen by a growing number of Americans as inevitable. The Conference Board reported that its consumer confidence index sank this month to […]

Pittsburgh-area shoppers say they’re not happy about Joann closures Pittsburgh-area shoppers say they’re not happy about Joann closures 01:51 Joann is going out of business, with the more than 80-year-old fabric and crafts retailer set to close all of its stores nationwide after filing for Chapter 11 bankruptcy protection for a second time.   Struggling […]

Tickets for Fyre Festival 2, a second iteration of the infamous Fyre Festival in 2017, are now available for sale to the public after its controversial founder, Billy McFarland, spent time behind bars for fraud related to the original event. Resale ticketing platform Soldout.com on Monday announced that it has started selling tickets to Fyre […]

Egg prices jumped more than 15% in January from a year ago, with a carton of eggs costing Americans roughly $4.95. Producers blame it on the bird flu that has forced them to euthanize millions of chickens. With relief not expected anytime soon, some egg consumers are now looking for alternatives, including going to the […]

Ford and Rivian have issued recalls affecting a total of about 257,000 vehicles in the United States over separate seatbelt and headlight issues, the National Highway Traffic Safety Administration said on Friday. Ford is recalling 240,510 Explorers and Lincoln Aviators from 2020-2021 because the seatbelt buckle anchor bolts at one or more seating positions may […]