Business News

A shopper browses near 'Sale' signs in the meats section of a grocery store on July 7, 2026 in Pasadena, California. (Mario Tama/Getty Images) (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% […]

(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 […]

(NEW YORKI) --Drivers stung by high gas prices have enjoyed some welcome relief over the last couple of weeks, even as the impact of the Iran war continues to choke off oil supply.The national average price of a gallon of gas stood at $4.26 on Wednesday, marking a decline of 30 cents, or 6.5%, since a recent peak on May 21.Still, prices remain well above where they clocked in before […]

Shot of oil pumps (Olga Rolenko/Getty Images) (NEW YORK) -- Oil prices climbed and stocks tumbled in early trading on Wednesday after President Donald Trump said he believes an agreement with Iran is "over" amid an exchange of strikes in the Middle East.Brent crude, the benchmark measure for worldwide oil trading, climbed more than 5% in early trading on Wednesday, pushing the price up to nearly $78 a barrel.Oil prices […]

(NEW YORK) -- A heat wave blanketed a vast swathe of the United States over the 4th of July weekend, threatening the health of tens of millions of people and the power supply for thousands of homes.A lesser-known risk of extreme heat, meanwhile, may hammer pocketbooks.Heat waves threaten an array of costs for the economy, sapping the productivity of outdoor workers, shutting some shoppers inside their homes and driving up […]

(NEW YORK) -- Elon Musk-led rocket and AI company SpaceX joined the Nasdaq 100 on Tuesday, clearing the way for a potential influx of investment as funds pegged to the major index were expected to add the firm.SpaceX will all but certainly become a part of many individuals’ 401(k) accounts soon. Those accounts often hold index funds, which track indexes like the Nasdaq 100.Until recently, newly listed companies were barred from major […]

(NEW YORK) -- Microsoft said on Monday it will lay off 4,800 employees and that the job cuts would be especially pronounced in its Xbox department.The layoffs will affect 2.1% of Microsoft's global workforce, Amy Coleman, executive vice president and chief people officer, said in a public memo to employees.Coleman attributed the layoffs in part to a shakeup in the tech sector wrought by artificial intelligence. None of the terminated roles […]

(NEW YORK) -- Mortgage rates have dropped to their lowest level since May as negotiations between the United States and Iran ease financial markets.The average interest rate on a 30-year fixed mortgage stands at 6.43%, down from last week's rate of 6.49%, Freddie Mac data on Thursday showed.Still, mortgage rates register above their level before the war with Iran. Prior to the Middle East conflict in late February, a 30-year fixed mortgage clocked in at an […]

U.S. President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House on May 27, 2026 in Washington, DC. (Win McNamee/Getty Images) (NEW YORK) -- A court filing shows how businesses are getting money back from the U.S. government after the Supreme Court ruled many of President Donald Trump's tariffs were illegal.The Trump administration has sent out $20.6 billion in tariff refunds so far, according […]