Business News

Tesla shareholders awarded CEO Elon Musk a pay package on Thursday that could grant the tech entrepreneur nearly $1 trillion in compensation over the next decade.The pay package would make Musk the best-compensated CEO ever recorded. According to a securities filing in September, Musk would rake in roughly $900 billion over the duration of the agreement.The full compensation would only be delivered if Musk vaults the company from its present […]

(NEW YORK) -- Exercise equipment company Peloton is voluntarily recalling approximately 833,000 exercise bikes due to a potential issue specific to the bike's seat post, the company announced Thursday.According to the company announcement, the recall affects "certain Original Series Bike+ models manufactured from December 2019 through July 2022 for sale in the U.S. and Canada.""The Original Series Bike+ seat post can break during use, posing a potential fall and injury […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks closed higher on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse.The Dow Jones Industrial Average jumped 43 points, or 0.09%, while the S&P 500 climbed 0.34%. The tech-heavy Nasdaq increased 0.42%.The Dow and S&P 500 each closed at record highs on Wednesday.The uptick extended a period of resilient performance for markets, which shrugged […]

(NEW YORK) -- Travelers with plans to fly amid the government shutdown are searching for refund policies related to flight delays or cancellations, as well as information on what resources are available to them if a booking is significantly impacted by the continued ripple effects and possible airspace closures.Here's what travelers facing potential snafus need to know in order to rebook or get a refund with ease.Refund policies for flight […]

U.S. President Donald Trump speaks during a bilateral meeting with President of Ukraine Volodymyr Zelensky at the 80th session of the UN’s General Assembly (UNGA) at the United Nations headquarters on September 23, 2025 in New York City. World leaders convened for the 80th Session of UNGA, with this year’s theme for the annual global meeting being “Better together: 80 years and more for peace, development and human rights.” (Photo […]

(NEW YORK) -- The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump's tariff policy, federal government data on Thursday showed.The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government's final estimate, besting a 3.3% rate issued in its second estimate and far exceeding a 3% initial estimate.The figure marked a sharp […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) -- Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday.The company will slash 900 employees at its stores in North America, Niccol said. The store closures will amount […]

(WASHINGTON) --The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its second interest rate cut this year in an effort to jumpstart the flagging labor market.The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the size of the cut falls short of the major drawdown called for repeatedly by the president.The policy marks the […]

(WASHINGTON) -- The Federal Reserve on Wednesday will set the level of its benchmark interest rate, adjusting a major policy lever for the first time since a government shutdown sharply restricted the release of gold-standard federal data about the economy.In a rare exception, the U.S. government issued an inflation report last week showing a continued acceleration of price increases, which may complicate the Fed’s effort to revive a flagging labor […]