Business News

(NEW YORK) -- Consumer sentiment improved in June for the first time since the outbreak of the Iran war as gasoline prices eased in recent weeks, but shopper attitudes remained near their worst level on record, University of Michigan survey data on Friday showed. The reading exceeded economists' expectations.The survey snapped three consecutive months of dampening consumer sentiment, recovering from an all-time low in May, data showed. The University of Michigan has conducted the […]

(NEW YORK) -- Hiring slowed in April as a rise in fuel prices hammered shoppers weeks into the war with Iran, U.S. government data on Friday showed.The U.S. added 115,000 jobs in April, according to the report, which marked a cooldown from 178,000 jobs added in March. The reading for April exceeded economists' expectations.The unemployment rate held steady at 4.3% in April, the Bureau of Labor Statistics (BLS) said. Unemployment […]

(NEW YORK) -- Elon Musk, the wealthiest person alive, could become the first-ever trillionaire when SpaceX goes public on Friday.The company's founder and CEO is set to own roughly four out of every 10 SpaceX shares after the initial public offering (IPO). If SpaceX were to achieve its target valuation of $1.75 trillion, Musk would accrue hundreds of millions of dollars in new wealth, at least on paper.SpaceX builds and […]

(NEW YORK) -- Apple has agreed to settle a class-action lawsuit for $250 million after the tech giant was accused of marketing Apple Intelligence technologies that "did not exist" yet, according to a Tuesday court filing.The settlement paves the way for payouts of up to $95 for iPhone users who purchased eligible devices between June 10, 2024, and March 29, 2025.Plaintiffs in the suit asked a judge on Tuesday to […]

(NEW YORK) -- Sky-high gasoline prices are hammering drivers across the United States as the Iran war chokes off global oil supply. California, however, may be feeling the sting more than anywhere else.The average price of a gallon of gasoline in California clocks in at $6.13, standing 36% higher than the national average, AAA data showed. Some elected officials in the state have warned of a potential oil and gas […]

(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 […]

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 […]

(NEW YORK) -- The Department of Transportation said on Saturday the majority of airlines will be capping tickets prices for Spirit Airlines travelers who need to rebook their canceled flights.Some carriers have even reduced fares on high volume routes where Spirit used to operate.Spirit began winding down operations early Saturday morning after talks between the airline and the federal government over a $500 million rescue deal stalled.Spirit said that travelers […]