The enthusiastic Steve Ballmer – CBS News Watch CBS News In 2014 Steve Ballmer, who ranks as one of the wealthiest people in the world, bought the Los Angeles Clippers, and is today their most enthusiastic fan. It’s just one of the areas the former Microsoft CEO is devoting his…

Tesla shares plunged on Thursday as an increasingly bitter spat between CEO Elon Musk and President Trump erupted in public, with Mr. Trump suggesting the federal government could strip Musk’s companies of their federal contracts.  Tesla’s stock tumbled by as much as 18% in intraday trading — the electric car…

Dinner at the Gomez home outside Boston provides a textbook image of the sandwich generation: three sets of relatives living under one roof. “A club sandwich has a lot of layers, and we have a lot of layers,” 57-year-old Alicia Gomez said. It’s not the easiest way to save for…

Washington — President Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall, according to an analysis released Wednesday by the Congressional Budget Office. The numbers were revealed in a…

The United States doubled its steel and aluminum tariffs to 50% Wednesday, casting a pall on a gathering of OECD ministers as President Trump’s intensifying trade war weighs on the world economy. The boosted levies went into effect at midnight EDT. Mr. Trump’s sweeping tariffs on allies and adversaries alike…

AAA: 45 million to travel for Memorial Day Record Memorial Day travel expected as Alaska Airlines bets big on global expansion 02:59 Alaska Airlines is making its first foray into the European travel market, announcing Tuesday it will launch new flights to and from Rome, Italy, beginning in May 2026. …

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…

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,”…

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…

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…

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…

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…

President Trump announced that he would be doubling tariffs on steel to 50% as he visited a U.S. Steel mill in the Pittsburgh suburbs Friday, a week after teasing a “planned partnership” between the company and its Japanese competitor Nippon Steel.  “We are going to be imposing a 25% increase.…

Mondelez International, the company behind Oreo, Wheat Thins and other name-brand products, says Aldi is copying its packaging in an effort to dupe customers into buying the supermarket chain’s products. In a federal lawsuit filed Tuesday in Illinois, the snack company alleges that Aldi “blatantly copies” the distinctive packaging 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…

Washington — A federal appeals court in Washington, D.C., on Thursday temporarily halted a federal trade court’s decision blocking most of President Trump’s sweeping tariffs, for now reinstating the levies imposed by the president under an emergency powers law. The U.S. Court of Appeals for the Federal Circuit said in…

A federal court on Wednesday froze most of the sweeping tariffs imposed by President Trump on virtually every foreign nation, ruling the levies exceed the president’s legal authority. The ruling — issued by a panel of judges on the U.S. Court of International Trade — halted the sweeping 10% tariffs…

President Trump on Monday said he’s weighing whether to redirect $3 billion in grant money for Harvard University to trade schools across the U.S., but education experts say that process faces significant obstacles.  Mr. Trump’s comment, which was made on social media, comes as he escalates his attacks on the Ivy League…

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…

Stocks jumped on Tuesday, after Mr. Trump announced over the Memorial Day weekend that he would pause the implementation of steep tariffs on the European Union until July 9 to allow more time for trade negotiations with the 27-country bloc. The S&P 500 climbed 90 points, or 1.6%, to 5,893 points,…

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.…

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…

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,…

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…

President Trump said this week he may take home lenders Fannie Mae and Freddie Mac public, winding down 17 years of federal control over two central parts of the U.S. housing market — a move that was cheered on by Trump ally and noted Wall Street investor Bill Ackman. Ending…

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…

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 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…

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…

When President Trump’s new tariffs started throttling freight traffic, the leader of trucking logistics firm Freight Technologies used an unorthodox method to try and get the president’s attention.  The California-based firm purchased $2 million worth of Trump Coin, the signature cryptocurrency backed by Mr. Trump. The president and his family…

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…

Jony Ive, the celebrated former Apple industrial design maven behind the look of the iPhone, iPad and other of the technology giant’s products, has joined OpenAI as part of a $6.5 billion deal that will merge’s Ive’s startup with Sam Altman’s company. Ive will help the artificial intelligence company, which…

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…

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…

The average interest rate for a 30-year mortgage jumped back above the 7% threshold on Monday, with the increase coming after Moody’s downgraded the U.S. credit rating on Friday over concerns about the government’s growing debt levels. It’s the first time since April 11 that the average 30-year mortgage rate…

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. But fractures in the GOP conference appeared to persist over the weekend, despite the…

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…

“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…

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…

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…

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…

The House Republican bill to enact President Trump’s domestic policy agenda contains a provision that has prompted opposition from the Mexican government — a tax on cash payments sent by non-U.S. citizens to family members in their home countries. The payments, known as remittances, would be subject to a 5%…

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…

Federal Reserve Chair Jerome Powell is cautioning that the U.S. could face an increase in supply shocks. The comes a week after the central bank announced it would hold interest rates steady amid a period of economic uncertainty.  “We may be entering a period of more frequent, and potentially more persistent,…

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…

The gap between what Americans earn and how much they need to bring in to achieve a basic standard of living is growing, according to a new report. The analysis, from the Ludwig Institute for Shared Economic Prosperity (LISEP), looks beyond whether people can afford daily necessities like food and…

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…

United Airlines is adding some extra bells and whistles to its new Boeing fleet. The Chicago-based company announced that its Boeing 787-9 planes will offer a larger selection of premium seats as well as new suites, dubbed “United Polaris Studio.”  Positioned at the front of the business class section, the…

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…

The U.S. and China have agreed to a temporary but significant easing of the tariffs imposed over the last couple months, the countries said in a joint statement shared by the White House, heralding significant success in trade negotiations that ramped up over the weekend. In the joint statement released…

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…

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…

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…

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…

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…

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…

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”…

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…

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…

Ford says it expects a $1.5 billion hit from tariffs this year Ford says it expects a $1.5 billion hit from tariffs this year 00:32 Ford Motor on Wednesday said it is raising prices on three models produced in Mexico, pointing to higher U.S. tariffs on imported vehicles as one…

President Trump slammed Gavin Newsom on Tuesday just hours after the California governor asked for collaboration on a massive film tax credit.  “California built the film industry — and we’re ready to bring even more jobs home. We’ve proven what strong state incentives can do,” Newsom’s post on X said.…

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 —…

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…

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…

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…

The winning formula of Wegmans – CBS News Watch CBS News Wegmans, founded as a produce cart in 1916, is the highest-volume grocery store chain in America, with more than 100 stores along the East Coast. Correspondent David Pogue reports on the company’s ethos, opening new sushi restaurants, and why…

“CBS Weekend News” headlines for Saturday, May 3, 2025 – CBS News Watch CBS News Here’s a look at the top stories making headlines on the “CBS Weekend News” with Jericka Duncan. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now…

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…

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…

Employers across the U.S. added 177,000 jobs in April, new federal data shows, a sign the labor market is still humming despite ongoing economic uncertainty caused by the Trump administration’s trade policies. The numbers Job growth was stronger than expected in April, the Labor Department said Friday in its monthly…

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. …

Publishers Clearing House is known for giving money away in sweepstakes and other contests. Now it’s offering a different kind of payout — a refund for customers who may have been deceived by the direct marketing company. The Federal Trade Commission said Wednesday that the agency has mailed checks totaling…

A federal judge has strongly rebuked Apple, finding that the iPhone maker willfully violated a court injunction in an antitrust case filed by “Fortnite” maker Epic Games. U.S. District Judge Yvonne Gonzalez Rogers had ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions…

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…

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…

UPS on Tuesday announced it is planning to cut 20,000 jobs this year, part of a cost-cutting effort that’s linked to the delivery giant’s decision to deliver fewer packages from Amazon, its biggest customer. The shipping company, which operates in over 200 countries, currently has around 490,000 employees. The layoffs…

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…

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 toward research and development to allow the computing giant to continue manufacturing its mainframe and quantum computers in the U.S. “Technology doesn’t…

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”…

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…

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…

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…

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…

U.S. stocks whipsawed on Friday, signaling an end to a three-day rally that was driven by investor hopes of a de-escalation in the trade war. The Dow Jones Industrial Average slipped 76 points, or 0.2%, to 40,017 in early afternoon trading, while the S&P 500 inched higher 24 points, or…

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…

The stock market surged early Wednesday but then steadily lost momentum as investors digested news of a possible trade deal with China and President Trump’s dismissal of any plans to fire Federal Reserve Chair Jerome Powell. After gaining more than 1,000 points in early trade, the Dow Jones Industrial Average closed…

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…

Treasury Secretary Scott Bessent on Wednesday said the Trump administration has an “opportunity for a big deal” on trade between the U.S. and China, providing a hint that a brutal tariff war between the two nations could ease up. Bessent, who delivered the keynote address at the Institute of International…

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…

The U.S. economy will experience sluggish growth in 2025 due to an escalating trade war and “high levels of policy uncertainty,” the International Monetary Fund said in a report Tuesday. The projections reinforce economists’ warnings about the negative repercussions of President Trump’s tariffs on the economy. The U.S. economy will…

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…

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 152 points, or 2.9%, to 5,130 in early trading, while the Dow Jones Industrial…

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…

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.…

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.…

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…

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.…

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…

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…

Italian Prime Minister Giorgia Meloni is meeting at the White House on Thursday with President Trump, in what her aides have called a high-stakes “commercial peace mission.” Meloni arrived at the White House at noon on Thursday. European leaders are hoping Italy’s right-wing premier can position herself as a bridge between…

New York City — Skincare store Senti Senti in Brooklyn sells items you won’t typically find at other retailers in the U.S. Almost all of the serums, face masks and creams sold at Senti Senti are imported from South Korea and Japan. South Korea tops the list for cosmetics imports,…

Spotify releases its 2024 review What to know about Spotify’s top artists, songs and albums of the year 02:52 Spotify was experiencing technical issues on Wednesday, with thousands of users reporting difficulty accessing the music streaming platform. “Spotify experienced an outage today beginning around 6:20am EDT,” a spokesperson told CBS…

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…

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…

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…

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,…

Amid a tumultuous week in the markets, the outlook on President Trump’s trade and tariff policy hinges not just on what Americans think will happen, but when.  People split on whether they believe Mr. Trump has a clear plan, and most don’t think the tariffs will be permanent — rather…

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…

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,…

Bond market signals tariffs’ economic impact Bond market signals economic impact of Trump’s tariffs 06:23 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…

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…

For China, soaring U.S. tariffs are a “joke,” as Chinese officials put it Friday in sharply hiking levies on American imports. Investors aren’t laughing.  Stocks in the U.S. wobbled in early trading Friday as Wall Street absorbed the latest sign of the raging trade war between the world’s two largest…

Rep. Marjorie Taylor Greene, an avid supporter of the Trump administration’s trade policies, not only bought stocks last week as others dumped them in a panic — she scooped up some of the biggest losers. Lululemon, Dell Computer, Amazon, the parent of Restoration Hardware and a few others hit hard…

When Kathleen Whitman’s daughter’s Bernadoodle, Cody, swallowed a Kong toy, the family faced a veterinary emergency requiring immediate surgery. X-rays at their local suburban clinic suggested what looked like a hair tie tangled in Cody’s intestines. When referred to a corporate emergency hospital, the family was quoted $10,000 for the…

President Trump on Wednesday announced a 90-day pause on most of his new tariffs, and a lowering of the “reciprocal tariff” rate to 10%, effective immediately, he said on Truth Social.  The U.S. stock market surged immediately after the president’s announcement. At the same time, the president said he’s increasing the…

The stock market rallied on Wednesday, amid morning volatility as investors nervously eye President Trump’s growing trade war, which threatens to raise prices for U.S. consumers and blunt economic growth.  After an early tumble, the Dow Jones Industrial Average is up points, or .20%, to 37,707 as of 10:30 a.m. EST…

The acting commissioner of the Internal Revenue Service is expected to resign after the agency disclosed that it has agreed to share immigrants’ tax data with Immigration and Customs Enforcement to help identify and deport undocumented immigrants. According to a source familiar with the situation and a statement from the…

Stocks are rebounding Tuesday after investors suffered a three-day sell-off that wiped out trillions in market value amid anxieties about the economic impact of President Trump’s wide-ranging reciprocal tariffs.  The S&P 500 index surged 141 points, or 2.8%, to 5,203.65 in early morning trading. The Dow Jones Industrial Average jumped…

President Trump on Monday said the U.S. will apply an additional 50% tariff on imports from China if the Asian nation doesn’t withdraw its plan to impose a retaliatory 34% import fee on American products. In a post on his Truth Social app, Mr. Trump said that “any country that Retaliates…

Stocks in the U.S. swung sharply in early trade Monday, gyrating between losses and gains as investors sought to chart the Trump administration’s next move on tariffs.  As markets opened, the S&P 500 fell 3.5% and briefly entered a bear market — when stocks fall at least 20% from their…

Overseas financial markets plunged in early trading Monday, while 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. Japan’s Nikkei 225 index tumbled nearly 8% shortly after the market opened in Tokyo,…

Some of the new tariffs announced by President Trump earlier this week went into effect Saturday, triggering customs agents’ collections at ports of entry across the U.S. Mr. Trump, in a post on Truth Social on Saturday, urged Americans to “hang tough,” calling the implementation of tariffs an “economic revolution.”…

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…

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…

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…

Stocks are tumbling for a second straight day, extending a steep slide triggered by President Trump’s announcement of sweeping new tariffs on U.S. imports earlier this week.  The S&P 500 fell 237 points, or 4.4%, to 5,159 as of 10:56 a.m. EST. The Dow Jones Industrial Average tumbled 1,475 points, or…

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. …

The Dow Jones Industrial Average plunged 1,581 points, or 3.8%, to 40,634, in morning trade Thursday as spooked investors tried to assess the impact of the latest round of Trump administration tariffs. President Trump on Wednesday announced a 10% baseline tariff on all U.S. trading partners and increased levies on…

Several European leaders reacted negatively to President Trump’s tariff announcement.  Italian Prime Minister Giorgia Meloni wrote on social media that she felt the tariffs were misguided and would not help either the U.S. or Italy.  “We will do everything we can to work towards an agreement with the United States,…

President Trump is scheduled to announce the details and implementation of his tariffs on Wednesday, a day he has named “Liberation Day,” despite warnings from economists over increased prices.  What new tariffs will Trump announce today? The president hasn’t yet said what the tariff rates on foreign goods will be…

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…

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…

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…

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…

U.S. District Judge Amy Berman Jackson issued a preliminary injunction Friday that blocks the Trump administration from dismantling the Consumer Protection Financial Bureau.  “The court cannot look away or the CFPB will be dissolved and dismantled completely in approximately thirty days, well before this lawsuit has come to its conclusion,”…

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…

Crowds protesting billionaire Elon Musk’s purge of the U.S. government under President Trump began amassing outside Tesla dealerships throughout the U.S. and in some cities in Europe on Saturday in the latest attempt to dent the fortune of the world’s richest man. The protesters are trying to escalate a movement…

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…

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…

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…

Chicago — Steve Walter’s family has been fixing cars on Chicago’s North Side for 70 years. “I’m fourth generation,” Walter said. “My grandfather worked on pre-war Italian race cars.”  Walter’s mechanics replace metal more often than they repair it, so he’s bracing for the impact of President Trump’s newly announced…

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 today, the Social Security Administration will begin clawing back overpayments from the retirement program by taking 100% of a beneficiary’s monthly check…

President Trump on Wednesday said he will put a 25% tariff on automobiles and light trucks imported into the U.S., escalating his administration’s use of aggressive trade measures in an effort to boost domestic manufacturers.   “This will continue to spur growth like you haven’t seen before,” Mr. Trump said from…

Americans are increasingly anxious about their financial prospects, with a closely watched gauge of consumer confidence slumping to a 12-year low amid growing concerns about tariffs and inflation.  The Conference Board said Tuesday that its consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and…

President Trump’s nominee to run the Social Security Administration (SSA), Frank Bisignano, vowed to crack down on fraud and to protect Americans’ personal data in a Senate confirmation hearing on Tuesday. He also dismissed suggestions that he supports privatizing a federal agency that provides retirement, disability and other benefits to…

President Trump’s nominee to run the Social Security Administration, Frank Bisignano, will face a Senate hearing on Tuesday morning about his qualifications to run the massive retirement system, as well as his plans for the agency at a time when it has been targeted for significant job cuts by Elon…

23andMe bankruptcy prompts alarm over data privacy 23andMe bankruptcy is “privacy nightmare,” consumer advocate warns 02:18 23andMe customers who once turned over the most personal form of information to the company — their own genetic data — may want it back after the personal genomics and biotech startup declared bankruptcy…

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…

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…

Paul Safarik, 32, of Lincoln, Nebraska, has worked in the food industry since he was 21, delivering for quick service restaurants like Raising Cane’s and stocking groceries at stores like Trader Joe’s. With his earnings, Safarik, who has Down syndrome, recently bought a treadmill to stay active when the weather’s…

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…

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…

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…

The Social Security Administration’s plan to require in-person identity checks for millions of new and existing recipients while simultaneously closing government offices has sparked a furor among lawmakers, advocacy groups and program recipients who are worried that the government is placing unnecessary barriers in front of an already vulnerable population.…

For President Trump, the barrage of tariffs the U.S. is set 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…

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…

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…

The U.S. Food and Drug Administration will step up its testing for heavy metals in infant formula and review nutrients required in the products used to feed millions of babies, the agency and the U.S. Department of Health and Human Services announced on Tuesday. “The FDA will use all resources…

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…

California salmon fishing season is in jeopardy again California salmon fishing season is in jeopardy again 02:19 William Smith has long fished the California coast for salmon, taking avid anglers out on his boat in hopes they’ll get to wrestle with and reel in the prized catch. But not anymore.…

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…

Wealth management expert on market uncertainty | On Your Side Wealth management expert on market uncertainty | On Your Side 03:56 Watching your 401(k) plan savings recede as stocks slide can be gut-wrenching, sparking anxiety about whether you’ll ever be able to retire — a particularly loaded issue for Gen…

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…

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,…

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…

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…

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…

Federal agencies will begin to vacate hundreds of offices across the country this summer under a frenetic and error-riddled push by Elon Musk’s budget-cutting advisers to terminate leases that they say waste money. The White House’s Department of Government Efficiency, which Musk heads, maintains a list of canceled real estate…

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…

Trump threatens more tariffs on EU, Canada Trump threatens additional tariffs against European Union, Canada 02:29 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…

The Environmental Protection Agency on Wednesday said it would “formally reconsider” a landmark 2009 finding by the agency that greenhouse gases are a danger to public health. The announcement was one of a flurry of actions by the EPA to roll back a wide swath of environmental regulations, including rules…

Inflation 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…

Washington — President Trump will not double tariffs on Canadian steel and aluminum imports, Commerce Secretary Howard Lutnick told CBS News, after Lutnick and Ontario Premier Doug Ford announced Canada would suspend its new 25% surcharge on electricity exports.  Ford and Lutnick announced the suspension of the electricity surcharge hours…

Southwest Airlines boasts that its passengers’ “bags fly free” — but not for long.  Starting May 28 — just in time for the busy summer travel season — only Southwest’s most elite Rapid Rewards A-List Preferred members and passengers who book their top-tier Business Select fares will receive two free…

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…

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…

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…

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…

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…

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…

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…

President Trump on Thursday said he will pause 25% tariffs on U.S. imports from Mexico and Canada that are covered under a 2020 trade agreement, delaying levies imposed on the nations earlier this week.  Mr. Trump announced the delay in the Mexico tariffs in a social media post after a call with…

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.…

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…

President Trump is giving a one-month exemption to U.S. automakers from the round of tariffs that took effect on March 4, White House press secretary Karoline Leavitt said on Wednesday.  The announcement comes after Mr. Trump spoke with leaders of the so-called Big Three automakers — Ford, General Motors and…

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…

Are 150-year-olds collecting social security? Are 150-year-olds collecting social security? What to know about Musk’s claims 05:26 More than 1.1 million people with public pensions — teachers, firefighters, police officers and the like — have recently received retroactive benefits due to the Social Security Fairness Act, the Social Security Administration…

Washington — The United States imposed 25% tariffs on nearly all goods imported from Mexico and Canada Tuesday, after taking a month for aides to negotiate a potential reprieve. Duties of 10% were put in place on Canadian energy products. The tariffs went into effect at 12:01 a.m., hours before…

President Trump said on social media Sunday that his administration is working toward creating a “crypto strategic reserve” that will include bitcoin and ethereum, along with lesser-known cryptocurrencies XRP, solana, and cardano. He later followed up with another post saying his planned reserve would also include bitcoin and ether, the…

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…

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…

After years of railing against corporate greed on social media, John Schwarz had an idea that suddenly caught fire: an “economic blackout” aimed at resisting what he maintains is an alliance between corporations and politicians to rig the system against ordinary Americans.  The 57-year-old Chicago resident, founder of the People’s…

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 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…

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…

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…

Tips on filing your taxes and what to expect this tax season Tips on filing your taxes and what to expect this tax season 01:58 With tax season well underway, early data on the average tax refund shows that Americans are receiving about one-third less than they did a year…

Washington — Former GOP Rep. Lori Chavez-DeRemer’s nomination to lead the Labor Department under President Trump is all but certain to be advanced Thursday with the help of Democrats.  The Senate Committee on Health, Education, Labor and Pensions is set to vote Thursday morning to consider moving her nomination forward. …

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…

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…