Business News

(WASHINGTON) -- President Donald Trump's 50% tariffs on some Canadian goods are set to take effect early Saturday morning, just days after he pushed back a previous deadline while the two sides negotiated a trade agreement.Trump claimed earlier this week the United States had reached a preliminary deal to resolve a dispute with one of its top trade partners, saying the breakthrough had prompted him to issue a reprieve from […]

(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) -- 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) -- 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 […]

(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% in the prior month, federal government data released on Tuesday morning showed.The reading for June marks the lowest inflation since March, though the pace of price increases remains more than […]

(WASHINGTON) -- A Trump-appointed national bank regulator granted a wing of the Trump family's crypto business conditional approval to establish a bank charter, opening the door for larger clients and potentially heightened profits.The decision marks the first time in U.S. history that a company owned by the sitting president's family has been granted bank status, as Democratic lawmakers express concerns over potential conflicts of interest.In a letter published Friday, the Office of […]

(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 […]