Business News

(NEW YORK) -- President Donald Trump has repeatedly touted the opportunity for U.S. companies to extract and sell oil from Venezuela, which holds the largest oil reserves in the world."We're going to be taking out a tremendous amount of wealth out of the ground," Trump said on Saturday, just hours after a U.S. military attack removed Venezuela President Nicolas Maduro.Venezuelan oil, however, will likely provide little relief for gas prices […]

(NEW YORK) -- Hiring increased sharply at the outset of 2026, the year's first jobs report said, blowing past economists' expectations and besting sluggish performance from the previous year.The U.S. added 130,000 jobs in January, according to the report, which marked a sharp increase from 50,000 jobs added in the previous month.The unemployment rate dropped to 4.3% in January from 4.4% in December, the Bureau of Labor Statistics (BLS) said. Unemployment remains low […]

(NEW YORK) -- A jobs report to be released on Wednesday will provide a key barometer of the U.S. economy as policymakers grapple with a combination of elevated inflation and sluggish hiring.The labor market slowed sharply last year, prompting interest rate cuts at the Federal Reserve and concern among some observers about the nation's economic prospects.The U.S. added an average of 49,000 jobs each month in 2025, which marked a […]

The Dow Jones Industrial Average logo appears on the screen of a smartphone in Reno, United States, on December 1, 2024. (Photo by Jaque Silva/NurPhoto via Getty Images) (NEW YORK) -- The Dow Jones Industrial Average closed above 50,000 for the first time ever on Friday.A surge in markets reversed a selloff that hammered tech stocks earlier in the week.The Dow closed up 1,206 points, or 2.4%, while the S&P 500 climbed […]

(NEW YORK) -- Mortgage rates this week fell to their lowest level in 15 months, easing borrowing costs for homebuyers eager for a thaw in the housing market in 2026.The average interest rate on a 30-year fixed mortgage stands at 6.15%, plummeting from a level of 6.89% in May, data from financial services company Freddie Mac showed. Last January, the average 30-year fixed mortgage rate exceeded 7%.Each percentage point decrease in a mortgage rate […]

(NEW YORK) -- Consumer sentiment ticked higher in February for the second consecutive month as inflation fears appeared to ease, though shopper attitudes remained well below levels registered a year ago, University of Michigan data on Friday showed. The reading exceeded economists' expectationsAt its low point in November, consumer sentiment fell close to its worst level since a pandemic-era bout of acute inflation. Modest gains in recent months indicate some positive momentum for shoppers.Year-ahead […]

(NEW YORK) -- The price of bitcoin plunged more than 10% on Thursday, sinking the world's largest cryptocurrency to its lowest level since October 2024 and erasing sizable gains made since then.That was weeks before the election of President Donald Trump, a crypto supporter whose return to the nation's highest office helped propel bitcoin to record highs.Bitcoin clocked in at a price of about $66,100 on Thursday afternoon, leaving it 48% below an all-time high of […]

(WASHINGTON) -- The federal agency that investigates workplace discrimination is seeking court enforcement of a subpoena it has issued to Nike as it pursues allegations that the athletic apparel maker has been discriminating against its white employees in its corporate diversity policies. The Equal Employment Opportunity Commission (EEOC) filed its motion this week in U.S. District Court for the Eastern District of Missouri, where Nike has a factory that produces its famous AIR […]

Photo by Joe Raedle/Getty Images (WASHINGTON) -- In the latest reversal of his signature economic policy, President Donald Trump is rolling back tariffs on furniture, kitchen cabinets and vanities.Higher tariff rates on those goods that were set to take effect Jan. 1 will now be delayed for another year, according to a White House fact sheet.In October, the White House imposed a 25% tariff on upholstered furniture, kitchen cabinets and […]