Business News

(NEW YORK) -- Consumer sentiment worsened in August, snapping two consecutive months of improved attitudes among shoppers as President Donald Trump imposed sweeping new tariffs on nearly 70 countries. The fresh reading fell short of economists’ expectations.The dampening of shopper attitudes returns the measure to a months-long downturn that took hold after Trump took office, University of Michigan Survey data on Friday showed. At its low point, consumer sentiment fell […]

(NEW YORK) -- A fresh report on consumer sentiment on Friday will show how shoppers digested a cascade of economic developments this month, including President Donald Trump's firing of a top labor statistics official hours after the release of weak jobs data.The report, which details shopper attitudes in August, is set to arrive days after an inflation reading came in lower than economists had expected, offering a respite for consumers wary of significant tariff-induced price […]

(NEW YORK) -- The labor market slowed sharply this summer, leaving job applicants with fewer places to turn for a new position.Employers added an average of about 35,000 jobs over three months ending in July, which marks a major slowdown from roughly 128,000 jobs added monthly over the prior three months, the U.S. Bureau of Labor Statistics said earlier this month.The hiring cooldown has hit nearly every industry, including manufacturing, leisure and hospitality and […]

(WASHINGTON) -- Consumer prices rose 2.7% in July compared to a year ago, clocking in lower than economists expected and holding steady from the previous month. The reading defied fears of further price increases as result of President Donald Trump's tariffs.The inflation report is the first major data release from the U.S. Bureau of Labor Statistics (BLS) since Trump fired the agency’s commissioner earlier this month, just hours after the […]

(WASHINGTON) -- Policymakers and business leaders will closely watch the release of inflation data on Tuesday, marking the latest look at price increases as the economy risks a tariff-induced rise of inflation.The inflation report is the first major data release from the U.S. Bureau of Labor Statistics (BLS) since Trump fired the agency’s commissioner earlier this month, just hours after the release of a weak jobs report.Price increases have sped […]

(WASHINGTON) -- AI chipmakers Nvidia and Advanced Micro Devices struck an extraordinary accord to pay the United States government 15% of the revenue the two companies are set to make from products sold in China, a White House official confirmed to ABC News.In exchange for the payment, the Trump administration will grant the companies export licenses for the AI chips, allowing the firms to tap into a large market in […]

(NEW YORK) -- Weak jobs data came out hours before President Donald Trump fired the head of labor statistics. A report on gross domestic product indicated a slowdown of growth over the first half of the year. A sweeping round of tariffs hit nearly 70 countries.These events -- all since last week -- prompted some analysts to warn of a recession and others to raise concerns about the political independence […]

Justin Sullivan/Getty Images (WASHINGTON) -- President Donald Trump called on the CEO of Intel, Lip-Bu Tan, to resign "immediately.""The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!" the president wrote on his social media platform.Trump did not explain why Tan should resign, nor did he provide evidence for his allegation of a […]

(NEW YORK) -- OpenAI on Thursday released GPT-5, unveiling a new version of the artificial intelligence model that fuels popular chatbot ChatGPT. The product will be made immediately available to users, including customers who use the company's cost-free options, OpenAI said.The announcement comes days after the company said ChatGPT is set to reach 700 million weekly active users, up from 500 million just five months ago.OpenAI CEO Sam Altman described […]