Business News

(WASHINGTON) -- The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump made an unusual visit to the central bank, calling for a rate cut.The central bank has defied Trump’s public criticism for months, adopting a wait-and-see approach as central bankers observe the effects of tariffs."Uncertainty about the economic outlook remains elevated," Federal Open Market Committee (FOMC), a policymaking body at the Fed, said on […]

(WASHINGTON) -- The U.S. economy expanded more than expected as President Donald Trump’s tariffs took hold over recent months, federal government data on Wednesday showed.U.S. gross domestic product, or GDP, increased at a 3% annualized rate over three months ending in June. The figure marked a sharp acceleration from an annualized contraction of -0.5% over the first three months of 2025.The reading amounted to sturdy economic growth, suggesting the economy […]

(NEW YORK) -- President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.Prior to the agreement, the European Union faced the prospect of a 30% tariff rate set to take effect Aug. 1. Instead, products from one of the largest U.S. trade partners will be slapped with a 15% tariff.In […]

(NEW YORK) -- President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday.Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.The company warned of further “challenges” that will arise from “an environment of political uncertainty, expanding trade restrictions and geopolitical tensions,” among other factors.Volkswagen marks the […]

(WASHINGTON) -- President Donald Trump is set to visit the Federal Reserve on Thursday, ratcheting up pressure on the central bank after his repeated calls for lower interest rates.It marks the first official trip to the Fed taken by a sitting president in almost 20 years.The extraordinary move comes roughly a week after Trump said he had discussed with a group of Republican lawmakers the possibility of firing Federal Reserve […]

(WASHINGTON) -- President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.Before the deal, Japan faced the prospect of a 25% tariff rate set to take effect Aug. 1. Instead, products from the fifth-largest U.S. trade partner will be slapped with a 15% tariff, […]

(NEW YORK) -- President Donald Trump’s tariffs are costing Jeep maker Stellantis hundreds of millions of dollars, the company said Monday.The giant carmaker expects to have suffered nearly $350 million in losses over the first half of 2025 due to direct tariff payments as well as a loss of planned production on account of the company's response to the policy, preliminary data showed.In all, the company expects to have lost […]

(NEW YORK) -- Consumer sentiment ticked higher in July, marking two consecutive months of improved shopper attitudes as businesses navigated President Donald Trump’s latest tariff threats targeting dozens of countries. The fresh reading matched economists’ expectations.The recent resurgence of consumer sentiment followed six straight months of worsening attitudes, according to University of Michigan survey data released Friday. Before the swell of optimism, consumer sentiment had fallen to near its lowest level since a bout of […]

(WASHINGTON) -- Private spaceflight is transforming from joy rides for billionaires into a gateway for nations to establish their space presence, one expert says, as the latest Axiom Space mission returned to Earth on Tuesday.The mission marked a historic moment for India, Poland and Hungary, who sent astronauts to the International Space Station (ISS) for the first time in decades. Rather than waiting for traditional space programs, these nations booked […]