Browse category by Economy

As Trump eyes more tariffs, South Korea remains safe haven for GM and Hyundai

As Trump eyes more tariffs, South Korea remains safe haven for GM and Hyundai


February 15, 2025
DETROIT — As President Donald Trump threatens to further increase tariffs on U.S. trading partners, the greatest impact for the auto industry outside of North America would be additional levies on South Korea and Japan. The East Asian countries produced a combined 16.8% of vehicles sold last year in the U.S., including a record 8.6% from South Korea […]
As retailers drop DEI programs, Black founders could face obstacles to staying on shelves

As retailers drop DEI programs, Black founders could face obstacles to staying on shelves


February 15, 2025
Fragrance brand Brown Girl Jane’s perfume bottles sit on shelves at Sephora near some of the most storied labels in the fashion and beauty world, including Prada and Dior. For the Black-owned brand, getting a retailer to bet on it was just the start, Brown Girl Jane CEO and co-founder Malaika Jones said. She said […]
Grocery stores are rationing eggs as supply falls and prices rise

Grocery stores are rationing eggs as supply falls and prices rise


February 15, 2025
Egg rationing is here. With prices rising rapidly and showing no signs of slowing anytime soon, some of the nation’s biggest grocery store chains — including Trader Joe’s, Walmart and Costco — have begun limiting the amount of eggs individual consumers can buy. This time last year, the average price for a dozen eggs was around […]
Retail sales slumped 0.9% in January, down much more than expected

Retail sales slumped 0.9% in January, down much more than expected


February 15, 2025
Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday. Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals are adjusted for seasonality but […]
Tariffs would be ‘catastrophic’ for sales of tequila and mezcal, industry group says

Tariffs would be ‘catastrophic’ for sales of tequila and mezcal, industry group says


February 14, 2025
The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday. Spirits supplier sales in the U.S. fell 1.1% last year to a total of $37.2 billion, while volumes rose 1.1%, according to the annual U.S. […]
How America’s chief consumer-protection agency came into the Trump administration’s crosshairs

How America’s chief consumer-protection agency came into the Trump administration’s crosshairs


February 14, 2025
When the Consumer Financial Protection Bureau made an appearance in the Heritage Foundation’s Project 2025 blueprint, the conservative group’s plan was simple: Abolish it entirely. Now, with a Project 2025 co-author in charge of the bureau, that idea looks like a real possibility. Over the weekend, Russ Vought, President Donald Trump’s pick to head the […]
With Trump all-in on crypto, bitcoin bulls bet America’s corporate balance sheets are next

With Trump all-in on crypto, bitcoin bulls bet America’s corporate balance sheets are next


February 14, 2025
Last week, White House crypto czar David Sacks held his first press conference to discuss the future of crypto policy coming out of the Trump administration. While that will include stablecoin legislation and digital asset regulation, Sacks told CNBC that a top agenda idea is also evaluating “whether it’s feasible to create either a bitcoin reserve […]
AI-powered sports media company raises $13 million, led by Alexis Ohanian and Giannis Antetokounmpo

AI-powered sports media company raises $13 million, led by Alexis Ohanian and Giannis Antetokounmpo


February 13, 2025
ScorePlay, an artificial intelligence service for sports clips, has raised $13 million in series A funding, the company announced Tuesday. The sports storytelling platform’s investors include 20VC venture capital fund founder Harry Stebbings, Reddit co-founder Alexis Ohanian’s Seven Seven Six VC firm, NBA star Giannis Antetokounmpo, former Formula 1 champion Nico Rosberg, and soccer star […]
Google says U.S. is facing a power capacity crisis in AI race against China

Google says U.S. is facing a power capacity crisis in AI race against China


February 13, 2025
The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy strategy of Alphabet’s Google unit said this week. The emergence of China’s DeepSeek artificial intelligence firm sent the shares of major power companies tumbling in late January on speculation that its […]
Prebiotic soda brand Olipop valued at $1.85 billion in latest funding round

Prebiotic soda brand Olipop valued at $1.85 billion in latest funding round


February 13, 2025
Prebiotic soda brand Olipop said Wednesday that it was valued at $1.85 billion in its latest funding round, which raised $50 million for the company. Founded in 2018, Olipop has helped fuel the growth of the prebiotic soda category, along with rival Poppi, which highlighted its drinks with a Super Bowl ad on Sunday. Both have attracted […]
Google says U.S. faces a power capacity crisis in AI race against China

Google says U.S. faces a power capacity crisis in AI race against China


February 13, 2025
The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy strategy of Alphabet’s Google unit said this week. The emergence of China’s DeepSeek artificial intelligence firm sent the shares of major power companies tumbling in late January on speculation that its […]
Elon Musk and investors offering $97.4 billion for control of OpenAI, WSJ reports

Elon Musk and investors offering $97.4 billion for control of OpenAI, WSJ reports


February 12, 2025
Elon Musk is leading a group of investors in offering to buy control of OpenAI for $97.4 billion, The Wall Street Journal reported on Monday. The bid is for the nonprofit that oversees the artificial intelligence startup, the Journal reported, adding that Musk’s attorney, Marc Toberoff, said he submitted the offer on Monday. The WSJ cited a […]
GameStop, MicroStrategy shares rise after Ryan Cohen posts photo with Michael Saylor

GameStop, MicroStrategy shares rise after Ryan Cohen posts photo with Michael Saylor


February 11, 2025
Shares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin. GameStop, day traders’ favorite meme stock, climbed more than 7%, while MicroStrategy, which recently rebranded as “Strategy,” saw shares rising as much as 4%. […]
McDonald’s revenue disappoints, as U.S. sales see worst drop since pandemic

McDonald’s revenue disappoints, as U.S. sales see worst drop since pandemic


February 11, 2025
McDonald’s on Monday reported disappointing quarterly revenue, dragged down by weaker-than-expected sales at its U.S. restaurants following an E. coli outbreak just weeks into the quarter. But shares of the company rose more than 4% in morning trading as executives predicted sales would improve in 2025. Here’s what the company reported compared with what Wall Street was expecting, […]
McDonald’s revenue disappoints as U.S. sales see worst drop since pandemic

McDonald’s revenue disappoints as U.S. sales see worst drop since pandemic


February 11, 2025
McDonald’s on Monday reported disappointing quarterly revenue, dragged down by weaker-than-expected sales at its U.S. restaurants following an E. coli outbreak just weeks into the quarter. But shares of the company rose more than 4% in morning trading as executives predicted sales would improve in 2025. Here’s what the company reported compared with what Wall Street was expecting, […]