Sign In
Free Newsletter
Meta shares jump after Reuters report on plans for layoffs of 20% or more
Meta Platforms plans to cut 20% or more of its workforce to offset heavy AI spending, aiming for significant cost savings and productivity gains, Reuters reports.
CEO pay to be clawed back when banks fail under new Senate plan
A new Senate bill aims to require clawbacks of bonuses and stock sales from executives responsible for large bank failures, increasing accountability in the US banking sector.
Trump says he’s looking at loosening Jones Act shipping rules
U.S. President Donald Trump said he is reviewing the possibility of loosening shipping rules under the Jones Act, according to a Fox News interview.
U.S. auto sales could plunge amid war in Iran, historical data shows
U.S. auto sales could sharply decline due to the Iran war, with historical data from Anderson Economic Group showing drops over 10% during past oil crises and conflicts.
Warsh’s room to move at the Fed may narrow in a war-clouded outlook
Kevin Warsh's potential to ease Fed monetary policy is limited by rising oil prices and inflation risks amid the Iran conflict, delaying expected rate cuts.
US fourth-quarter GDP growth revised down to 0.7%
U.S. GDP growth for the fourth quarter was revised down to 0.7% due to lower consumer spending, business investment, and export growth, government data shows.
Oil prices dip as Indian tanker sails out of Strait of Hormuz
Oil prices fell as an Indian tanker passed through the Strait of Hormuz and the U.S. issued measures to ease supply concerns amid Middle East conflict disruptions.
US customs agency says building system for tariff refunds is 40% to 80% complete
The U.S. Customs and Border Protection is 40% to 80% complete building a system to refund $166 billion in illegal tariffs, with operations expected by mid-April.
The US labor market lost 92,000 jobs in February in warning sign for economy
The U.S. labor market lost 92,000 jobs in February in a striking loss signaling the economy’s vulnerability after a tough month for health care industry jobs, which have been propping up the labor market. The unemployment rate ticked up to 4.4 percent, according to new data from the Bureau of Labor Statistics. Forecasters [...]
Oil unlikely to hit $200 a barrel, US energy chief says
U.S. Energy Secretary Chris Wright says oil prices are unlikely to reach $200 a barrel despite disruptions in the Strait of Hormuz caused by the Iran conflict.
US Senate passes housing affordability, House consideration next
The US Senate passed a bipartisan bill to increase affordable housing construction, now awaiting House approval amid industry opposition and rising mortgage rates.
World faces largest-ever oil supply disruption on Middle East war, IEA says
The IEA reports the biggest oil supply disruption in history due to the Middle East war, with global supply dropping 8 million barrels per day in March 2024.
