economy — Main Street Independent

South Korean stocks crash 8% on AI profit fears, Fed rate concerns

South Korea's benchmark KOSPI index plunged 8.3% on Monday as investors dumped semiconductor shares amid renewed doubts about artificial intelligence profitability and concerns that the U.S. Federal Reserve could raise interest rates. The…

3 MIN READ

North Korea's economy grows at fastest rate in eight years as arms sales fuel boom

North Korea's economy expanded 3.7% in 2024, its fastest growth in eight years, fueled by arms sales to Russia, troop deployment payments, and increased trade with China, according to estimates from South Korea's central bank and analysts…

3 MIN READ

Bolivia's China deals fuel mistrust amid political crisis, analysts say

Bolivia's deepening political crisis has exposed the risks of managing foreign investment through opaque agreements and weak oversight, with Chinese-linked infrastructure and mining projects facing complaints over delays, quality problems…

3 MIN READ

House panel approves GSA headquarters renovation

The House Transportation and Infrastructure Committee approved full financial support for the GSA headquarters renovation on June 4, 2026, clearing the way for the project to proceed.
GSA Administrator Edward C. Frost said the approval will allow the agency to build a "high-quality and dynamic federal campus" at the 1800 F Street NW building.
The GSA's current headquarters was found to have serious indoor air quality problems in 2021, and 40% of the building was declared uninhabitable in 2022.
The renovation is budgeted at $239 million, with completion scheduled for December 2028, replacing an earlier 2031 target.

3 MIN READ

Tech Wipeout, Oil Spike Raise ‘Shoeshine Boy’ Question on Market Peak

The Wall Street Journal’s Markets A.M. newsletter on Monday raised the classic question of whether the market has peaked, after a tech stock wipeout on Friday and a spike in oil prices following renewed Middle East conflict. The newsletter…

4 MIN READ

Top chefs back Andy Burnham for prime minister after VAT cut pledge

A group of prominent British chefs including Tom Kerridge, Thomasina Miers, and Tommy Banks have publicly endorsed Andy Burnham for prime minister after the Labour candidate pledged to cut VAT on hospitality from 20% to 10%.

3 MIN READ

Asian stocks tumble, oil jumps as Middle East conflict reignites

Stock markets across Asia-Pacific fell sharply on Monday, with South Korea's KOSPI index sliding nearly 9% before trading was briefly halted, as investors reacted to a confluence of risks including a flare-up in Middle East hostilities,…

3 MIN READ

Gold rises as UOB sees prices climbing back to $5,000 by early 2027

Gold edged higher in early Asian trading Monday, with spot prices rising 0.5% to $4,349.71 an ounce, as a research team at United Overseas Bank projected the precious metal would climb back toward the $5,000 threshold by early next year.

3 MIN READ

PepsiCo runs 35 driverless trucks on Arizona roads in first large-scale consumer-goods deployment

PepsiCo is operating 35 driverless trucks on public roads in Arizona, becoming the first major U.S. consumer-goods company to deploy autonomous trucks at commercial scale. The trucks, outfitted with sensors and computers from…

3 MIN READ

Trump's market jawboning reshapes oil, bonds, and currency trading

President Trump's pattern of using social media posts and public statements to move oil prices, interest rates, and currencies has reshaped how investors approach markets, according to traders and analysts. A single afternoon of posts last…

4 MIN READ

German Factory Orders Fell Back in April

German factory orders fell 3.8% in April from the prior month, the Federal Statistical Office, Destatis, reported Monday — the first decline since January.
The drop was driven by the automotive industry and electrical equipment sectors, Destatis said.
A consensus of economists polled by The Wall Street Journal had forecast a smaller 2.2% decline.
On a less volatile three-month-on-three-month basis, new orders were 3.1% lower.
The sharply higher energy costs from the conflict in the Middle East threaten to halt a nascent recovery in German industry that had been expected to benefit from a more-than $1 trillion fiscal stimulus package.

3 MIN READ

Democrats must think, talk and act differently to regain rural trust, essay argues

A farmer and former congressional candidate from rural Virginia argues that Democrats can regain trust with rural and working-class voters by thinking differently about their grievances, talking more plainly, and focusing on collaborative…

3 MIN READ

Trump's China trade war strategy flawed, economist Eduardo Porter says

A long trade war with China is under way, and President Donald Trump's scattershot tariff strategy is the wrong approach to confronting Beijing's export dominance, according to trade analyst Eduardo Porter in an analysis published Saturday…

3 MIN READ

Ohio Trump supporters stay loyal as national approval drops

FORT RECOVERY, Ohio — While President Trump's approval ratings have slipped nationally amid economic concerns and the Iran war, a core group of supporters in deep-red Ohio say they remain firmly in his camp. In interviews with the Wall…

3 MIN READ

Iran war pushing millions into hunger, UN warns, as ceasefire frays

The United Nations World Food Programme warned Sunday that tens of millions more people worldwide face acute hunger as the US-Iran war drives oil prices above $100 per barrel, with the fragile ceasefire under renewed threat from exchanges…

4 MIN READ

Foreign Businesses Abandon Cuba as Economy Collapses Under US Sanctions

International companies are pulling out of Cuba in accelerating numbers, dealing a blow to the island’s collapsing economy as the Trump administration tightens sanctions. Mastercard and Visa transactions by non-U.S. visitors will be…

4 MIN READ

Illustration accompanying article: Iran war pushing millions into hunger, UN warns, as ceasefire frays

British-born Republican Steve Hilton pitches MAGA makeover in California governor race

Steve Hilton, a British-born Republican and former Fox News host, is banking on California's unusual primary rules and widespread voter discontent to advance in the governor's race, with early returns showing him in a tight battle for…

3 MIN READ

Big business and philanthropies pour $400 million into skilled trades training

Ford Motor Co., Bloomberg Philanthropies, the Lowe's Foundation and BlackRock Foundation have announced roughly $400 million in new spending this year aimed at training more Americans for skilled trades jobs, as employers face a deepening…

3 MIN READ

Nasdaq tumbles 4.2% as strong jobs data, AI spending fears hit chip stocks

The Nasdaq composite index fell 4.2% on Friday, its worst day in more than a year, as a stronger-than-expected May jobs report raised the prospect of higher interest rates and earnings guidance from chip maker Broadcom fueled worries that…

3 MIN READ

OPEC boosts output for fourth month as Hormuz closure blocks shipments

The Organization of the Petroleum Exporting Countries on Sunday agreed to increase production by 188,000 barrels per day for July, the fourth consecutive monthly increase, even as the Strait of Hormuz remains closed due to the ongoing war…

3 MIN READ

Boaters feel pinch as fuel costs linger above year-ago levels

On a warm June afternoon on Portage Lake in Dexter Township, Michigan, Malik Amine and his brother readied their family's pontoon boat for the summer. Before they could leave the dock, they had to decide how much gasoline to put into the…

4 MIN READ

U.S. Officials Discuss Government Taking Stakes in AI Industry

Senior U.S. officials have discussed having the federal government take equity stakes in major artificial-intelligence companies, according to people familiar with the matter, after OpenAI Chief Executive Sam Altman pitched the idea to the…

3 MIN READ

Small-cap stocks beat market giants this year, but analysts urge caution

The Russell Microcap index has surged 21% year-to-date, nearly doubling the S&P 500's gain and far outpacing the 6% rise in the largest mega-cap stocks, according to analysis from The Wall Street Journal. The divergence, driven by…

3 MIN READ

Oil falls 2.7% as Iran talks fuel optimism; supply cliff looms

Crude oil futures settled lower Friday as market expectations of a resolution to the U.S.-Iran conflict outweighed supply concerns, but analysts warned that the real supply crunch could arrive by early July. West Texas Intermediate fell…

3 MIN READ

Eurozone retail sales fell 0.4% in April as Iran war energy costs bite

Eurozone retail sales dropped more than expected in April, falling 0.4% from March as rising energy prices tied to the Iran war squeezed household spending, data from the European Union’s statistics agency showed Thursday. The decline was…

3 MIN READ

ADP: U.S. private payrolls add 122,000 in May, beating forecasts

U.S. private employers added 122,000 workers in May, ADP reported Wednesday, topping consensus forecasts and marking the strongest month of hiring since President Donald Trump returned to office. The payroll processing firm's monthly…

3 MIN READ

US imposes 10-12.5% tariffs on 60 nations over forced labor concerns

The Trump administration has announced new import taxes of 10-12.5% on 60 trading partners — including the UK, the EU, Canada, and Japan — citing their failure to address the use of forced labor in goods imported into the United States.

3 MIN READ

Argentines over 65 return to work as Milei austerity erodes pension buying power

The number of employed Argentines age 65 and older increased 12.7% over the past two years, as President Javier Milei's fiscal austerity measures eroded the purchasing power of pensions and pushed a growing number of retirees back into the…

3 MIN READ

Government credit card misuse sparks backlash as audits mount

The former town manager of Pilot Mountain, North Carolina, was indicted on May 11 on a felony embezzlement charge for allegedly using taxpayer money to pay for personal expenses including hotel stays, restaurant meals and ammunition,…

4 MIN READ

Japan PM Says Yen Defense Depends on Economic Strength, Not Intervention

Japan's Prime Minister Sanae Takaichi said Friday that the government aims to defend the yen's credibility by strengthening the economy, signaling a strategic shift away from direct currency intervention as the yen weakens to near 160…

3 MIN READ

K-shaped economy widens as wealthy gain, working Americans feel inflation squeeze

The U.S. economy has intensified its K-shaped divide under President Donald Trump, with wealthy Americans benefiting from a booming stock market while lower-income households face rising inflation, stagnant wages, and soaring gas prices,…

3 MIN READ

'Doomspending' rises among young Americans as economic anxiety grows

A growing number of young Americans are spending money frivolously with little regard for future financial consequences, a trend dubbed 'doomspending' that reflects deepening anxiety about the economy and a loss of faith in traditional…

3 MIN READ

Gold Rises Amid Mild Dollar Weakness

Gold edged higher in early trading Thursday as the U.S. dollar softened, lowering the price of the precious metal for overseas investors. Spot gold rose 0.4% to $4,451.07 an ounce, with traders eyeing upcoming U.S. labor data and Middle…

3 MIN READ

Leading AI companies push toward blockbuster IPOs amid cash race

Several leading artificial intelligence companies, including OpenAI, Anthropic, and SpaceX, are moving toward initial public offerings this year at valuations reaching into the trillions of dollars, according to the Associated Press. The…

4 MIN READ

Dow closes at record as healthcare, financial stocks lift market; tech lags

The Dow Jones Industrial Average closed at a record 50,687.07 on Thursday, rising 875 points as healthcare and financial stocks surged, while the tech-heavy Nasdaq composite edged lower after Broadcom's AI demand guidance missed…

3 MIN READ

Economists offer competing visions to reduce U.S. income inequality

U.S. income inequality has widened significantly over the past five decades, with households at the 90th percentile earning 12.6 times as much as those at the 10th percentile in 2024, up from 8.7 times in 1976, according to Census Bureau…

3 MIN READ

Australian dollar at risk of fall on first-quarter GDP, CBA says

Commonwealth Bank of Australia warned the Australian dollar could decline against the U.S. dollar following the release of first-quarter GDP data Tuesday, as the bank forecasts flat economic growth that may reduce the likelihood of further…

3 MIN READ

Dollar General profit jumps 13% as low-cost shoppers fuel sales beat

Dollar General on Tuesday reported a $444.1 million profit for its fiscal first quarter, up 13% from a year ago, as the discount retailer opened new stores and continued drawing budget-conscious consumers. Earnings of $2 per share topped…

3 MIN READ

Canada unveils $2bn national AI strategy, targets sovereignty and literacy

Prime Minister Mark Carney on Thursday announced a ten-year national artificial intelligence strategy, pledging more than C$2bn ($1.4bn) on computing infrastructure, talent retention, and workforce training as Canada seeks to reduce…

3 MIN READ

Consumer rage rises as Americans face corporate frustrations, survey finds

Nearly 80% of Americans reported a problem with a service or product in 2025, and about two-thirds of those experienced 'rage' about it, according to the National Consumer Rage survey published Thursday by Customer Care Measurement &…

3 MIN READ

OECD warns prolonged Hormuz energy shock could slam global growth, jobs and prices

Prolonged disruption of energy supplies from the Middle East due to the Iran war would deal a severe blow to the global economy, sending some countries into recession and spreading inflation and higher unemployment, the Organization for…

4 MIN READ

Canada's economy contracted 0.1% in Q1 as Carney ties weakness to policy restructuring

Canada's economy contracted at a 0.1% annualized rate in the first quarter of 2026, a second straight quarterly decline that badly missed expectations. Prime Minister Mark Carney attributed the weakness to deliberate policy decisions aimed…

4 MIN READ

Canada formally requests 16-year renewal of North American free trade pact

Canada has formally requested a renewal of the United States-Mexico-Canada Agreement (USMCA), proposing a 16-year extension of the North American free trade pact as the July 1 deadline to renegotiate the deal approaches. Canada-US Trade…

3 MIN READ

U.S. job openings hit two-year high at 7.6 million in April

The Bureau of Labor Statistics reported Tuesday that U.S. job openings rose to 7.6 million in April, the highest level in nearly two years, as the labor market showed resilience amid the ongoing U.S.-Israel-Iran war. The figure beat…

3 MIN READ

FOMO drives Wall Street pros into AI rally as career risk outweighs caution

A blistering second-quarter rally in U.S. tech stocks, fueled by artificial intelligence optimism, has left Wall Street professionals caught between caution and the fear of losing their jobs if they miss out, according to a Wall Street…

3 MIN READ

JetBlue raises second-quarter revenue outlook on strong travel demand

JetBlue Airways raised its second-quarter revenue outlook Monday, citing strong travel demand across all geographies as the carrier works to offset fuel costs that have climbed above its prior expectations.

3 MIN READ

Tomato prices rise 40% over last year, topping grocery inflation list

Tomato prices have increased roughly 40% over the past year according to the latest Consumer Price Index, the steepest jump of any food product tracked, as a staple of American kitchens becomes the newest flashpoint in a long-running…

3 MIN READ

Florida voters to decide on property-tax overhaul that could cut homeowner bills by thousands

Florida lawmakers on Tuesday approved a constitutional amendment for the November ballot that would dramatically overhaul the state’s property-tax system, significantly reducing the tax bill for many homeowners and creating potential…

3 MIN READ

AI economy could create permanent underclass, Harvard economist warns

Harvard economist Kenneth Rogoff warned Tuesday that the rapid expansion of artificial intelligence could create a permanent global underclass, with developing nations and countries outside the AI supply chain facing mass job displacement…

3 MIN READ

Muted enthusiasm, high prices greet World Cup in 16 host cities

As the 2026 World Cup approaches, fans across the 16 host cities in the United States, Mexico and Canada express a mix of excitement and deep reservations over ticket prices, political tensions and logistics concerns, according to a series…

4 MIN READ

UK pump prices climb as Strait of Hormuz closure pushes crude past $120

UK motorists are facing their highest fuel prices since the US-Israel war with Iran began on 28 February 2026, with Brent crude reaching $126 a barrel and petrol hitting 158.5p a litre on 19 May. The RAC motoring group warned that pump…

5 MIN READ

Child poverty rates and cost of living dominate Jersey election debate

Jersey's children's commissioner and a new cost-of-living report are raising alarms ahead of the island's June election, with a quarter of households classified as low-income and residents warning that high housing and grocery prices are…

3 MIN READ

Meituan posts third consecutive quarterly loss amid food-delivery price war

Meituan, China's largest food-delivery platform, reported a net loss of 6.83 billion yuan ($1.01 billion) for the first quarter of 2026, marking its third consecutive quarterly loss as a price war with Alibaba Group and JD.com continues to…

3 MIN READ

Iran war and fuel costs threaten Southeast Asia's summer tourism

Soaring fuel prices driven by the war with Iran are threatening the peak summer tourism season across Southeast Asia, straining economies in Thailand, Vietnam, and Cambodia that depend heavily on international visitors, the Associated…

3 MIN READ

US stocks add to records as Dell soars and oil eases; S&P 500 notches 9th straight winning week

Illustration accompanying article: US stocks add to records as Dell soars and oil eases; S&P 500 notches 9th

Wall Street pushed further into record territory on Friday, as the S&P 500 rose 0.2% for its seventh straight gain and the benchmark index closed out its ninth consecutive winning week — the longest such streak since 2023. The Dow Jones…

3 MIN READ

Median CEO pay hits $17.7 million, 200 times the typical worker's wage

The median pay package for chief executives of S&P 500 companies rose 6% to $17.7 million in 2025, while the typical employee at those firms earned $89,744, a 4.7% increase, according to an Associated Press survey released Wednesday.

3 MIN READ

HPE pulls forward long-term targets by two years on surging AI compute demand

Hewlett Packard Enterprise accelerated its long-term financial targets by two years after reporting second-quarter revenue of $10.68 billion, a 40% increase driven by surging demand for AI compute infrastructure.

3 MIN READ

South Korea's May exports surge 53.2% to record highs on AI chip demand

South Korea's exports grew at the fastest pace in more than four decades in May, reaching a record $87.75 billion as surging demand for artificial intelligence chips outweighed global geopolitical headwinds, preliminary trade ministry data…

3 MIN READ

UK house prices fall as Middle East crisis dents buyer confidence

UK house prices have fallen for the first time this year as rising market interest rates and geopolitical instability in the Middle East weaken buyer confidence, according to Nationwide data.

3 MIN READ

Scotch bonnet pepper shortage squeezes Caribbean hot sauce producers

A shortage of Scotch bonnet peppers, driven by extreme weather, disease, and pests, is forcing Caribbean hot sauce manufacturers to cancel orders, raise prices, and scramble for alternative ingredients as demand for the region's signature…

3 MIN READ

Plymouth expects defense investment to create 25,000 new jobs

The UK government's pledge to invest £4.4 billion in Plymouth's Devonport dockyard over the next decade is set to transform the city, with council estimates projecting up to 25,000 new jobs in the maritime and defense sector. Labour…

4 MIN READ

Former U.K. health secretary suggests employer National Insurance cut and North Sea drilling

Former Health Secretary Wes Streeting has proposed cutting employers' National Insurance contributions and approving new North Sea oil and gas licensing to address youth unemployment and increase tax revenue.

3 MIN READ

Rising jet fuel costs in Iran war cut value of airline miles for summer travel

Travelers holding airline miles and credit card rewards points will find their balances don't stretch as far this summer, as jet fuel prices elevated by the Iran war drive up airfares and baggage fees, according to travel experts and Labor…

3 MIN READ

PayPal warns of ‘significant changes’ as checkout growth stalls

PayPal said its core online checkout business is barely growing and will require “significant changes” to fix, as the San Jose, California-based payments pioneer faces intensifying competition from Apple Pay, Shopify, buy now, pay later…

3 MIN READ

Another surge for Micron, Wall Street's latest $1 trillion company, sends US stocks to records

The S&P 500 and Nasdaq composite closed at all-time highs Tuesday as Wall Street caught up with global gains on optimism over U.S.-Iran ceasefire negotiations, while oil prices rose 3.5% on continued fighting in the region.

3 MIN READ

Austin restaurant brings pay-what-you-will dining amid cost pressure

Diners are staying home more often as restaurant meals grow pricier, and one Austin restaurant is trying to make sit-down dining easier to afford. L’Oca d’Oro introduced a Tuesday “pay-what-you-will” night, letting customers choose what…

3 MIN READ

Wall Street sets more records as oil prices fall on US-Iran ceasefire hold

U.S. stock indexes closed at all-time highs on May 27 after oil prices dropped sharply as the ceasefire between the United States and Iran appeared to hold. The S&P 500 edged up to 7,520.36, the Dow gained 182 points to 50,644.28, and the…

3 MIN READ

US stocks end 8th straight winning week as households grow more discouraged

Wall Street finished another week of gains Friday as the S&P 500 added 0.4% for its eighth straight winning week, while a University of Michigan survey showed consumer sentiment falling to a record low. Energy prices driven by the war with…

3 MIN READ

Trump veered off-topic in New York while promoting SALT tax cuts

President Donald Trump traveled to the Hudson Valley on Friday to promote the tax law he signed last year, appearing with Rep. Mike Lawler and Nassau County Executive Bruce Blakeman ahead of a competitive House race. At Rockland Community…

4 MIN READ

Global shares gain and oil sinks after Trump says Iran peace talks are 'proceeding'

Global shares mostly rose and oil prices sank more than $4 a barrel on Monday after U.S. President Donald Trump said negotiations to end the war with Iran were moving forward. Regional officials told The Associated Press the United States…

4 MIN READ

Global shares rise and oil drops as Trump says Iran talks progress

Global stock markets advanced Monday while oil prices dropped more than $4 a barrel, driven by President Donald Trump's statement that negotiations to end the war with Iran are moving forward.

3 MIN READ

Rising bond yields could lift mortgages and strain the economy

Treasury bond yields rose sharply this week, with 30-year rates topping 5%, and economists say the move reflects persistent inflation, larger government deficits and a political shift toward populism that limits deficit reduction. NPR’s…

3 MIN READ

Europe energy prices to stay high through 2027, eurozone officials say

Europe’s oil and gas prices will remain above pre-Iran-war levels at least through the end of 2027, European Union and eurozone officials said Friday. The guidance came as eurozone finance ministers met, with EU Economy Commissioner Valdis…

3 MIN READ

Newsom urges Californians to skip Chevron over high gas prices

California Gov. Gavin Newsom’s office urged drivers to avoid Chevron stations over Memorial Day weekend, arguing the oil company charges more than unbranded alternatives. In posts shared this week, Newsom’s staff said Chevron averaged more…

3 MIN READ

Rising fuel prices could shrink the value of airline rewards this summer

Airline miles and points may buy fewer flights and perks this summer as higher jet-fuel costs push up airfares and add fees, according to travel and credit-card rewards experts. The Associated Press reports that airfares in April were 21%…

3 MIN READ

Memorial Day: High fuel prices reshape summer vacation plans for Americans

Higher gasoline and airfare costs are reshaping how many Americans approach the Memorial Day-to-summer travel stretch, with some travelers scaling back and shifting to shorter trips or cheaper lodging. The changes come as fuel prices rise…

3 MIN READ

Estee Lauder and Puig call off merger talks, keeping Clinique and Gaultier separate

Estee Lauder has ended merger talks with Puig that would have combined brands including Clinique, Charlotte Tilbury and Jean Paul Gaultier, the company said Friday. Estee Lauder CEO Stéphane de la Faverie said in a prepared statement late…

3 MIN READ

US stocks close out 8th straight winning week as consumer mood worsens

Wall Street extended its streak of weekly gains Friday as the S&P 500 rose 0.4% and finished its eighth straight winning week, the best such run since 2023. The rise came even as a University of Michigan survey showed U.S. consumer…

3 MIN READ

Walmart posts strong Q1 sales but warns of weaker second-quarter outlook amid high gas prices

Walmart reported a 7.3% rise in first‑quarter sales to $177.75 billion, driven by brisk in‑store purchases and a 26% surge in online orders. The company, however, cautioned that a volatile economic backdrop — highlighted by soaring…

3 MIN READ

Warsh sworn in as Fed chair in White House ceremony, Trump vows independence

President Donald Trump oversaw the White House swearing-in of Kevin Warsh as the new Federal Reserve chair on Friday, calling for an economy-focused approach while insisting the central bank would remain independent. The ceremony also…

3 MIN READ

Europe energy prices to stay high through 2027, EU officials say

EU officials said Europeans should expect oil and gas prices to remain above pre-Iran war levels at least through the end of 2027, alongside an upward trajectory for prices of other goods. European Economy Commissioner Valdis Dombrovskis…

3 MIN READ

Newsom tells Californians to avoid Chevron over Memorial Day gas prices

California Gov. Gavin Newsom’s office urged drivers to avoid Chevron stations over Memorial Day weekend, saying the company charges more than unbranded gas. The office cited an analysis by a group within the state’s energy commission.

3 MIN READ

Shein to buy Everlane, betting on U.S. growth and a higher-end model

Shein is buying Everlane, the California-based apparel brand known for minimalist basics and a pitch of “ethical factories” and “radical transparency,” NPR reported. Everlane’s CEO Alfred Chang said the deal is meant to open “a bigger…

3 MIN READ

Gas prices at four-year highs leave drivers weighing EVs and driving less

Drivers heading into the Memorial Day weekend face elevated gasoline prices, with AAA reporting the national average for a gallon at $4.55, a four-year high. Gasoline prices have stayed high since the start of the war in Iran, and…

3 MIN READ

Bond yields surge to multi-year highs as investors weigh oil and debt risks

The bond market, typically a quiet corner of Wall Street measured in hundredths of a percentage point, is rumbling again. Yields on government bonds have climbed to levels not seen in years or decades, driven by uncertainty over oil prices…

3 MIN READ

Oil eases and yields fall, helping US stocks erase early losses

US stocks rose Thursday after oil prices reversed course and Treasurys yields eased, lifting sentiment and narrowing earlier losses. The S&P 500 edged up 0.2%, the Dow gained 276 points, and the Nasdaq climbed 0.1% as investors reacted to…

3 MIN READ

Memorial Day: High fuel prices are reshaping summer vacation plans

Memorial Day marks the traditional start of the U.S. summer travel season, but higher fuel prices and broader inflationary pressures are changing how Americans get away. The AP reports that some families are replacing long trips with…

3 MIN READ

ACA enrollment projected to drop by nearly 5 million as costs spike

Nationwide enrollment in the Affordable Care Act health insurance marketplace could fall by nearly 5 million people this year, a decline of more than 20%, according to a new analysis from the healthcare research nonprofit KFF. Those who…

4 MIN READ

Estee Lauder and Puig end talks, keeping Clinique and Jean Paul Gaultier separate

Estee Lauder and perfume and cosmetics maker Puig have ended merger talks that would have combined brands including Clinique and Jean Paul Gaultier under one owner, the companies said Thursday. The New York-based Estée Lauder Cos. said…

3 MIN READ

Shein to buy Everlane as struggling retailer seeks financial stability

Everlane, the San Francisco-based retailer known for ethically sourced apparel, is being acquired by Shein, the fast-fashion giant founded in China. CEO Alfred Chang confirmed the deal in a letter to employees, according to The Associated…

3 MIN READ

High fuel prices drive Americans toward local vacations for Memorial Day

Elevated gasoline and jet fuel costs, driven in part by the Iran war, are reshaping Memorial Day travel plans across the United States, with families trading long-distance trips for bike rides, beaches, and hiking trails closer to home.…

3 MIN READ

Oil slides after Strait of Hormuz fears, helping US stocks erase losses

US stocks wavered Thursday before rising again as oil prices reversed course, easing some pressure from the bond market. The S&P 500 rose 0.2%, the Dow gained 0.6% and the Nasdaq edged up 0.1% after Brent crude briefly topped $109 a barrel…

4 MIN READ

More Republicans back Trump on immigration than economy, poll finds

Republicans’ approval of President Donald Trump’s handling of the economy has fallen since February, an AP-NORC poll released May 20 finds, even as many GOP voters continue to support his approach. At the same time, the poll finds Trump’s…

3 MIN READ

Trump relaxes refrigerant rule in bid to address grocery costs

The Trump administration on Thursday loosened federal rules requiring grocery stores and air-conditioning companies to reduce greenhouse gas emissions from cooling equipment, a step that President Donald Trump said would help lower grocery…

3 MIN READ

Ohio data center tax break cost $1.6 billion in 2025, dwarfing forecasts

The cost of Ohio’s sales tax exemption for data centers reached $1.6 billion in 2025, more than 11 times what state budget forecasters had projected, newly released data from the Ohio Department of Taxation show. The exemption, which…

4 MIN READ

Fast-fashion giant Shein to buy eco-friendly Everlane in unlikely deal

Shein, the Chinese fast-fashion behemoth known for ultra-low prices and rapid turnover of styles, is acquiring Everlane, the San Francisco-based retailer built on promises of ethical sourcing and sustainability, according to a letter from…

3 MIN READ

Bombs, blackouts and bank restrictions fail to stop Gaza’s digital workers

More than a year after a ceasefire halted the deadliest war in Gaza’s recent history, a community of tech freelancers is coding through the wreckage — designing apps, editing photos and debugging code from bombed-out coworking spaces, as…

5 MIN READ

Estee Lauder and Puig end merger talks, keeping Clinique and Gaultier separate

Estée Lauder Companies and Spanish fragrance and fashion house Puig have ended merger discussions that would have brought brands including MAC, Clinique, Charlotte Tilbury, and Jean Paul Gaultier under single ownership, Estée Lauder…

3 MIN READ

Newsom tells Californians to avoid Chevron over Memorial Day gas prices

California Gov. Gavin Newsom's office on Thursday urged drivers to skip Chevron-branded fuel over the Memorial Day weekend, pointing to a state analysis that found the oil company charges 60 to 80 cents more per gallon than unbranded…

4 MIN READ

Maine beach towns brace for fewer Canadian bookings as fuel costs rise

Maine beach businesses say Memorial Day—the unofficial start of summer—arrives with uncertainty as fewer Canadian visitors book trips amid U.S.-Canada tensions and high fuel prices.

3 MIN READ