Federal Reserve Signals Possible Pause in Interest Rate Hikes Amid Cooling Economy
Federal Reserve Chair Jerome H. Powell has indicated that the central bank may not raise interest rates further if the economy and inflation continue to cool as expected.
US Pending Home Sales Hit Record Low in October Due to Mortgage Rate Spike
In October, signed contracts to buy previously owned homes in the U.S. plummeted to a record low due to surging mortgage rates, with the National Association of Realtors reporting a 1.5% decline in its pending home sales index, the lowest since its inception in 2001.
Major Economic Concerns Amid Record Thanksgiving Shopping Weekend
A recent Fox News poll revealed that more than 75% of Americans are worried about the state of the economy.
Rapid Deforestation in Western Mexico Linked to Soaring US Avocado Demand
Deforestation is rapidly increasing in western Mexico, driven by the growing demand for avocados in the United States.
Biden Administration Utilizes Defense Production Act to Tackle Inflation and Supply Chain Challenges
The White House plans to use the Defense Production Act, a cold-war era law, to address supply chain issues contributing to inflation.
UK Government Announces National Insurance Tax Cut but Fiscal Drag Impacts Workers
The UK government has announced a reduction in National Insurance tax for workers from 12% to 10%, aiming to provide relief amid a cost-of-living crisis.
Nonunion Automakers Announce Pay Raises Amid UAW's Expanding Influence
Major automakers like Toyota, Nissan, Honda, and Subaru have announced significant pay raises for their U.S. workers despite not being covered by United Auto Workers (UAW) contracts.
Tesla Generates Excitement for Cybertruck Delivery Event with Public Display and Improved Build Quality
Tesla is building anticipation for its upcoming Cybertruck Delivery Event by showcasing the unconventional electric pickup truck.
Arson Fire Beneath Interstate 10 Shines Spotlight on Caltrans' Lease Program and Safety Concerns
Caltrans and state fire officials had expressed concerns about the storage of combustible liquids on wooden pallets under Interstate 10 for several years before a recent fire, which is now being investigated as arson, led to the closure of a major Los Angeles freeway for over a week.
Financial Expert Dave Ramsey Warns Against Using HELOCs for Debt and Home Equity Access
Dave Ramsey, a financial expert, is concerned about the growing trend of homeowners using home-equity lines of credit (HELOCs) to access their home equity for various purposes, such as buying additional property or paying down consumer debts.
Record-Breaking $1.03 Billion Counterfeit Goods Seizure Leads to Arrests in the US
Federal prosecutors arrested two individuals, Adama Sow and Abdulaj Jalloh, and seized over 200,000 counterfeit luxury items worth $1.03 billion in what is being described as the largest-ever seizure of counterfeit goods in US history.
Fire Under Los Angeles Freeway Raises Questions About Land Leasing Program
A recent fire under an elevated Los Angeles freeway, which caused significant damage and traffic disruptions, has brought scrutiny to a state land leasing program that allowed businesses to store various materials under the freeway.
Tesla Imposes One-Year Ownership Rule for Cybertruck Buyers
Tesla has set a rule in its motor vehicle order agreement for the Cybertruck, stating that buyers must keep the vehicle for at least a year after purchase.
US Consumer Confidence Declines as Inflation Worries and Global Conflicts Weigh on Sentiment
Americans' confidence in the US economy has declined, with the preliminary reading on consumer sentiment for November hitting its lowest level since May at 60.4, below economists' expectations of 63.7.
Billionaire Ron Baron Forecasts SpaceX's Value to Reach $500 Billion by 2030, Fueled by Starlink's Growth
Billionaire investor Ron Baron predicts that SpaceX, Elon Musk's rocket company, will be worth around $500 billion by 2030.
Ransomware Attack on ICBC Disrupts US Treasury Market, Raising Concerns
A ransomware attack on China's Industrial and Commercial Bank (ICBC) disrupted trading in the $25 trillion US Treasury market, forcing ICBC to send trading data on a USB stick to BNY Mellon for settlement.
Elon Musk and Jensen Huang Offer Divergent Views on AI's Impact on Jobs and Remote Work
Elon Musk and Jensen Huang, two prominent figures in the tech industry, have differing views on the impact of artificial intelligence (AI) on jobs.
Walmart's Stock Surges to Record High as Investors Bank on Holiday Season Success
Walmart's stock reached an all-time high, hitting $166.30, as investors anticipate the retail giant to outperform its competitors during the holiday season due to its reputation for offering value.
US Job Growth Slows in October as Auto Strikes Impact Manufacturing Payrolls
In October, U.S. job growth decelerated partly due to strikes by the United Auto Workers (UAW) against major Detroit car manufacturers, resulting in a drop in manufacturing payrolls.
Major U.S. Banks, Including Bank of America and Chase, Face Delays in Processing Direct Deposits Due to ACH Issue
Bank of America and several other major U.S. banks, including Chase, U.S. Bank, Truist, and Wells Fargo, have experienced issues with processing direct deposits, causing delays for customers.