Business News

(NEW YORK) -- Inflation jumped for a third consecutive month as the Iran war continued to drive up prices in May, surpassing 4% for the first time in three years. The reading matched economists' expectations.Prices rose 4.2% in May compared to a year earlier, marking an increase from a year-over-year inflation rate of 3.8% in the prior month, U.S. Bureau of Labor Statistics data showed.As recently as February, inflation clocked in just a few […]

An Air Canada plane is seen at Pearson International Airport on August 14, 2025 in Toronto, Canada. (Cole Burston/Getty Images) (TORONTO) -- An Air Canada pilot was arrested Monday after a probe discovered he had been allegedly flying hundreds of flights for at least 17 years without a proper license.Canadian police officials outlined Geoffrey Wall's alleged fraud, which they said, "read like a movie script."Since 2009, when Wall was promoted […]

In this Nov. 16, 2023, file photo, OpenAI CEO Sam Altman looks on during the APEC CEO Summit at Moscone West in San Francisco. (Justin Sullivan/Getty Images, FILE) (NEW YORK) -- OpenAI, the artificial-intelligence company behind ChatGPT, announced Monday night it had filed confidentially for an initial public offering (IPO), setting up the firm to raise fresh funds as it competes with deep-pocketed tech giants in the fast-growing AI industry.In […]

A shopper browses near 'Sale' signs in the meats section of a grocery store on July 7, 2026 in Pasadena, California. (Mario Tama/Getty Images) (NEW YORK) -- Inflation dropped more than expected in June as gas prices eased in response to negotiations between U.S. and Iran over the Middle East conflict.Prices rose 3.5% in June compared to a year earlier, marking a retreat from a year-over-year inflation rate of 4.2% […]

(NEW YORK) -- Hiring blew past expectations in May, registering at a blockbuster clip despite a continued rise in inflation set off by the Iran War.The U.S. added 172,000 jobs in May, according to the report, which marked an acceleration from 115,000 jobs added in April. The reading for April exceeded economists' expectations. The reading amounted to a slight downshift from March, when the U.S. economy gained 185,000 jobs.Still, the […]

(NEW YORKI) --Drivers stung by high gas prices have enjoyed some welcome relief over the last couple of weeks, even as the impact of the Iran war continues to choke off oil supply.The national average price of a gallon of gas stood at $4.26 on Wednesday, marking a decline of 30 cents, or 6.5%, since a recent peak on May 21.Still, prices remain well above where they clocked in before […]

Shot of oil pumps (Olga Rolenko/Getty Images) (NEW YORK) -- Oil prices climbed and stocks tumbled in early trading on Wednesday after President Donald Trump said he believes an agreement with Iran is "over" amid an exchange of strikes in the Middle East.Brent crude, the benchmark measure for worldwide oil trading, climbed more than 5% in early trading on Wednesday, pushing the price up to nearly $78 a barrel.Oil prices […]

(NEW YORK) -- A heat wave blanketed a vast swathe of the United States over the 4th of July weekend, threatening the health of tens of millions of people and the power supply for thousands of homes.A lesser-known risk of extreme heat, meanwhile, may hammer pocketbooks.Heat waves threaten an array of costs for the economy, sapping the productivity of outdoor workers, shutting some shoppers inside their homes and driving up […]

(NEW YORK) -- Elon Musk-led rocket and AI company SpaceX joined the Nasdaq 100 on Tuesday, clearing the way for a potential influx of investment as funds pegged to the major index were expected to add the firm.SpaceX will all but certainly become a part of many individuals’ 401(k) accounts soon. Those accounts often hold index funds, which track indexes like the Nasdaq 100.Until recently, newly listed companies were barred from major […]