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Economy

Jerome Powell asks inspector general to review Fed’s $2.5B renovation project

July 15, 2025

The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue. Fed Chair Jerome Powell asked for the review, following blistering criticism of the project, initially pegged at $2.5 billion but hit by cost overruns that […]

Economy

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

July 14, 2025

LONDON/NEW YORK, July 11 (Reuters) – Suppliers to Walmart WMT.N have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as U.S. President Donald Trump’s threat of a 35% tariff on the textile hub disrupts business. Bangladesh is the […]

Economy

Trump’s tariffs on Brazil could make your coffee even more expensive

July 12, 2025

President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country’s total supply, according to data from the U.S. Department of Agriculture. Coffee beans need to grow in a warm, tropical climate, making Hawaii […]

Economy

OpenAI to release web browser in challenge to Google Chrome

July 11, 2025

SAN FRANCISCO — OpenAI is close to releasing an AI-powered web browser that will challenge Alphabet’s market-dominating Google Chrome, three people familiar with the matter told Reuters. The browser is slated to launch in the coming weeks, three of the people said, and aims to use artificial intelligence to fundamentally change how consumers browse the […]

Economy

Sports executive charged with bid-rigging in Texas arena project

July 11, 2025

Oak View Group CEO Tim Leiweke was indicted on a federal criminal conspiracy charge related to allegedly rigging a bid to develop, manage, and operate the University of Texas’ basketball and entertainment arena in Austin, the Department of Justice said Wednesday. Oak View Group, which will pay $15 million in penalties in connection with the […]

Economy

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

July 11, 2025

President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters. The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war […]

Economy

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 11, 2025

What’s “Froot Loops” in Italian? The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion. The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer of Nutella, Tic Tac and […]

Economy

Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases

July 10, 2025

Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year. For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer […]

Economy

Waymo offers teen accounts for driverless rides

July 9, 2025

Waymo announced Tuesday that it is offering accounts for teens ages 14 to 17, starting in Phoenix. The Alphabet-owned company said that, beginning Tuesday, parents in Phoenix can use their Waymo accounts “to invite their teen into the program, pairing them together.” Once their account is activated, teens can hail fully autonomous rides. Previously, users […]

Economy

Boeing delivers most airplanes since late 2023 after ramping up 737 Max output

July 9, 2025

Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair […]

Economy

Is a Chinese chain’s blood orange cold brew the future of coffee in America?

July 7, 2025

Chinese chain Luckin Coffee opened its first two U.S. locations this week, betting that mobile-only ordering and creative flavors can lure customers away from Starbucks. Both new Luckin stores are based in Manhattan, and at the midtown location on Wednesday, Sam Liu took a sip of her jasmine cold brew. “I’ve never tried anything like […]

Economy

Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

July 4, 2025

Constellation Brands on Tuesday reported quarterly earnings and revenue that missed analysts’ estimates as beer demand slid and tariffs on aluminum weighed on its profitability. Still, the brewer reiterated its forecast for fiscal 2026, showing confidence that it can hit its financial targets despite the weaker-than-expected quarterly performance and higher duties. Shares of the company […]

Economy

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

July 4, 2025

In a year when the U.S. consumer has been weighed down by economic uncertainty, geopolitical tensions and inflation, Black entrepreneurs are eager to get to the Essence Festival of Culture to connect with their core customers. “Essence Fest is like my Black Friday,” said Rochelle Ivory, owner of beauty brand On the Edge Baby Hair. […]

Economy

As his feud with Trump reignites, Musk’s business with the government is back in the crosshairs

July 3, 2025

Elon Musk and President Donald Trump are fighting again. Now Musk’s business interests — and the billions in government contracts they enjoy — are once again in the crosshairs. Investors were already punishing Tesla on Tuesday, sending shares in the electric carmaker more than 4% lower in afternoon trading. The stock has experienced a late-spring […]

Economy

Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

July 3, 2025

Apple has accused a former engineer for its Vision Pro headset computer of stealing company trade secrets before starting a new job at Snap, according to a lawsuit filed in California last week. In the June 24 court filing, Apple accuses Di Liu, a senior design engineer, of downloading thousands of documents in his final […]

Browse category by Economy

Jerome Powell asks inspector general to review Fed’s $2.5B renovation project

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

Trump’s tariffs on Brazil could make your coffee even more expensive

OpenAI to release web browser in challenge to Google Chrome

Sports executive charged with bid-rigging in Texas arena project

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases

Waymo offers teen accounts for driverless rides

Boeing delivers most airplanes since late 2023 after ramping up 737 Max output

Is a Chinese chain’s blood orange cold brew the future of coffee in America?

Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

As his feud with Trump reignites, Musk’s business with the government is back in the crosshairs

Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

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