Not only low-income shoppers are hunting for deals these days. Better off consumers are also flocking to discount stores to save a few bucks. Since 2021, budget retailers have seen a large influx of more affluent shoppers, according to data from GlobalData Retail. This year, nearly 28% of high-income people have shopped at discount chains…
The Federal Reserve’s rate decision on Wednesday is shaping up to be its most consequential of the year, with most economists predicting the first cut of 2025. The real suspense is over how deep the reduction could be — and whether the Fed might signal a broader pivot that could set the course for the…
Washington — U.S. and Chinese negotiators have agreed to the outlines of a deal to resolve the dispute over ownership of TikTok, Treasury Secretary Scott Bessent said Monday, adding that President Trump is set to speak to Chinese President Xi Jinping later this week. “We have a framework for a TikTok deal,” Bessent said after…
The Federal Trade Commission has started an inquiry into several social media and artificial intelligence companies, including OpenAI and Meta, about the potential harms to children and teenagers who use their chatbots as companions. On Thursday, the FTC said it has sent letters to Google parent Alphabet, Facebook and Instagram parent Meta Platforms, Snap, Character…
More than 100,000 Paris Hilton mini fridges have been recalled over fire and burn hazard, the U.S. Consumer Product Safety Commission announced last week. The recall involved the “Paris Hilton Mini Beauty Fridge” in a 4-liter model in pink, white, aqua and hot pink, as well as a 10-liter model in pink and white. Consumers…
If you filed a claim in Facebook’s $725 million privacy settlement, you could get a payment within weeks, according to the settlement’s administrator. Millions of consumers who used Facebook over a 15-year period were eligible to file a claim back in 2023, with the settlement stemming from multiple lawsuits filed against the social media platform…
U.S. inflation ticked higher in August. Here’s what’s to know about the increase. – CBS News Watch CBS News The latest Consumer Price Index numbers show inflation is rising while jobless claims hit their highest level in nearly four years. CBS News MoneyWatch correspondent Kelly O’Grady explains what to know.
Consumer sentiment continued to slide in September, falling to its lowest point since May, as tariffs seep into product prices and Americans start to spend more cautiously. The University of Michigan’s preliminary September sentiment index, released Friday, declined 4.8% to 55.4 from 58.2 in August. “Consumers continue to note multiple vulnerabilities in the economy, with rising risks…
For much of 2025, the Trump administration’s wide-ranging tariffs defied forecasts that the import duties would drive up inflation. But that reprieve appears to be over, with economic data this week showing the tariffs are now pushing prices higher. The Consumer Price Index in August rose at a rate of 2.9% from a year ago, accelerating…
The Trump administration asked a federal appeals court Thursday to lift a ruling that blocked President Trump from firing Federal Reserve Governor Lisa Cook, in time for a crucial meeting next week when Fed officials will decide whether to lower interest rates. Mr. Trump moved to fire Cook from the Federal Reserve’s powerful Board of…
Social Security beneficiaries could see a 2.7% cost-of-living adjustment (COLA) in 2026, which is slightly above the 2.5% increase U.S. retirees received in 2025. That’s according to an estimate from the Senior Citizens League, which recently posted its latest COLA prediction based on August inflation figures figures from the Bureau of Labor Statistics. The Virginia advocacy group has…
More than 300 South Korean nationals detained by federal agents in a massive immigration raid last week on a Hyundai plant in Georgia for alleged visa violations were waiting Wednesday for a charter flight due to carry them back to their country. The South Korean workers were among some 475 people detained on Sept. 4…
A federal Judge on Tuesday ruled that Lisa Cook can remain in her role on the Federal Reserve’s Board of Governors while her lawsuit challenging President Trump’s attempt to fire her from her post plays out. “President Trump has not stated a legally permissible cause for Cook’s removal,” U.S. District Judge Jia Cobb, who was appointed…
Washington — The Supreme Court on Tuesday said it will decide whether President Trump can impose his most sweeping tariffs, setting up a major test of one of the pillars of the president’s economic agenda. The high court agreed to review lower court decisions that found Mr. Trump did not have the authority to issue many…
The latest jobs report points to a labor market that’s faltering, but the slowdown may have begun much earlier. Economists expect the Bureau of Labor Statistics to issue a major downward revision today, showing the nation added hundreds of thousands fewer jobs than first reported. On Sept. 9, the BLS will release its preliminary benchmark revision…
Job seekers’ confidence in finding new employment has fallen, a new survey reveals. According to the Federal Reserve Bank of New York’s Survey of Consumer Expectations, the average “perceived probability” of finding a new job after losing one fell 5.8% points to 44.9% among heads of households surveyed in August, the lowest measure on record since 2013…
Wall Street took hits on the market after hiring slumped in August. The economy added 22,000 jobs, far below expectations, fueling fresh concerns about a slowdown. Nikole Killion has more details.
The Powerball jackpot swelled to nearly $1.8 billion before two lucky tickets hit the winning numbers on Saturday night, Sept. 6. Powerball says the bit winners bought their tickets in Texas and Missouri, but some states have a larger share of participants than others. Massachusetts leads the way in lottery spending, according to a LendingTree analysis of government data. Residents…
California town hopes for Powerball luck after devastating wildfires – CBS News Watch CBS News Saturday’s Powerball jackpot soared to $1.8 billion, making it the second-largest jackpot in history. One town north of Los Angeles is looking for a little luck after a devastating year. Elise Preston has the story from Altadena.
Postal traffic into the United States plunged by more than 80% after the Trump administration ended a tariff exemption for low-cost imports, the United Nations postal agency said Saturday. The Universal Postal Union says it has started rolling out new measures that can help postal operators around the world calculate and collect duties, or taxes, after the…
Many economists say Friday’s disappointing jobs report is sending warning signals about the pace of hiring across the U.S. and the broader health of the economy. Employers added only 22,000 nonfarm jobs in August, far short of Wall Street analyst forecasts of 80,000, while the nation’s unemployment rate rose to 4.3% — the highest level since…
Giorgio Armani leaves a legacy not only as a seminal figure in the history of fashion, but also as a visionary business leader who built a globally recognized brand and multibillion-dollar business empire, industry experts said after his death Thursday at age 91. “Armani made certain that his vision was consistent and that it was…
The Powerball jackpot climbed to an estimated $1.7 billion after no one hit the top prize in Wednesday night’s drawing — up from $1.4 billion following Monday’s draw. Saturday’s jackpot is the third-largest in U.S. lottery history, with an estimated cash value of $770.3 million. The record jackpot was $2.04 billion, won on Nov. 7, 2022, according…
Washington — President Trump is hosting a dinner Thursday night at the White House with tech giants and other business and political leaders, but Tesla CEO Elon Musk will not be among those attending. He said on X, “I was invited, but unfortunately could not attend. A representative of mine will be there.” Invited guests include…
Heading toward fall, Americans are continuing to rate the U.S. economy negatively, as most pick “uncertain” and “struggling” to describe its current state. Ratings dipped again slightly over the last month. A third of Americans pick the descriptors “rebounding” or “expanding.” (Respondents could pick multiple words.) And more than twice as many said “unfair” as…
Amazon is ending a program that let Prime members share free shipping benefits with people outside their household. Instead, Amazon is encouraging users who don’t live with the account holder to pay for their own Prime subscription, offering them a one-year subscription for $14.99. Amazon last raised its Prime membership fee in 2022, when it…
A federal judge on Tuesday ordered a shake-up of Google’s search engine in a crackdown aimed at curbing the corrosive power of an illegal monopoly while rebuffing the U.S. government’s attempt to break up the company and impose other restraints. The 226-page decision made by U.S. District Judge Amit Mehta in Washington, D.C., will likely…
McDonald’s is moving to make its cheap eats even cheaper as the world’s largest fast-food chain tries lure back budget-conscious customers. The company announced on Tuesday that it is bringing back “Extra Value Meals” starting Sept. 8, including a limited $5 sausage and egg McMuffin meal and an $8 Big Mac meal. Other items on…
Swiss food giant Nestlé said Monday it dismissed its CEO, Laurent Freixe, due to an inappropriate relationship with a subordinate. The maker of Nescafé drinks and Purina pet food said in a statement that the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestlé’s code of conduct….
President Trump has claimed the authority to bypass Congress and impose sweeping tariffs on foreign products, arguing the import duties are necessary to strengthen the U.S. economy. Now a federal appeals court has thrown a roadblock in his path. The U.S. Court of Appeals for the Federal Circuit ruled Friday that Mr. Trump went too far…
Artificial intelligence has already become a disruptor in the labor market, as job postings declined over the past year by 6.7 percent, with entry-level positions especially hard-hit. But as David Pogue learns, not all industries are affected by the push for AI.
Artificial intelligence programs like ChatGPT use AI to do thinking or writing or creating for you. Pretty amazing, but also a little terrifying. What happens to the people who used to do those jobs? Olivia Fair graduated four years ago. “I’ve applied to probably over a hundred jobs in the past, I don’t know, six…
The end of the de minimis tax loophole on Friday means that low-cost shipments to the U.S. are no longer exempt from import duties, a potential hit to consumers ordering goods from abroad. Under the prior tax break, parcels containing goods worth less than $800 were not subject to tariffs, making many products from overseas, such…
LAS VEGAS — The top tourism official in Las Vegas says the city hasn’t priced out regular travelers, even as July visitor counts fell and casinos took in more from gamblers. Steve Hill, CEO of the Las Vegas Convention and Visitors Authority (LVCVA), said monthly figures can bounce around but argued the destination remains competitive…
A federal appeals court said Friday that many of the sweeping tariffs imposed by President Trump on dozens of countries earlier this year are not legally permissible. The ruling will not immediately block the tariffs, but it marks a significant blow to Mr. Trump’s signature trade strategy. The U.S. Court of Appeals for the Federal…
Washington — A federal judge on Friday heard arguments over a bid by Federal Reserve Governor Lisa Cook to remain in her post despite President Trump’s efforts to remove her because of allegations she made false representations on mortgage agreements several years ago. The two-hour-long hearing before U.S. District Judge Jia Cobb marked the first…
The “Sunday Morning” contributor comments on the prevalence of very, very, very long cash register receipts.
Washington — Federal Reserve Governor Lisa Cook filed suit against President Trump, Chair Jerome Powell and the Fed’s Board of Governors on Thursday, asking a federal judge to block the president’s attempt to fire her from the central bank. Mr. Trump announced Cook’s termination from the Fed late Monday, citing allegations she had committed mortgage…
Buying a new car has never been more financially daunting. A 2025 analysis from Edmunds found that a record 19.3% of consumers who financed a new vehicle in the second quarter of 2025 committed to a monthly payment of $1,000 or more. That’s nearly one in five buyers taking on what was once considered an…
Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a serious blow to India’s overseas trade in its largest export market. President Donald Trump had initially announced a 25% tariff on Indian goods. But earlier this month he signed an executive order imposing an additional 25% tariff due to India’s purchases…
President Trump’s move to fire Federal Reserve governor Lisa Cook could roil financial markets, raise uncertainty for investors and heighten concerns that the White House is trying to wrest control of the historically independent central bank, according to Wall Street analysts. Mr. Trump announced her removal in a letter posted Monday night on Truth Social, citing allegations…
Whirlpool, the century-old American appliance manufacturer known for its washers, dryers and other home appliances, says Trump’s tariffs could give it a leg up on competitors that rely heavily on imports. The American manufacturer of home, kitchen and laundry appliances says it makes 80% of its products in the U.S., where it operates 10 factories. …
President Trump said Monday he has fired Lisa Cook from the Federal Reserve’s Board of Governors — a dramatic move after months of public attacks against the central bank. The president announced Cook’s removal from the Fed board in a letter posted to Truth Social that accused Cook of making false statements on mortgage documents,…
When Cracker Barrel unveiled its new logo last week as part of an ongoing brand refresh, it wouldn’t have expected the marketing move to spark a public furor and cause the restaurant’s chain value to sink by nearly $100 million. Yet the episode highlights the perils of tinkering with a company’s brand. Cracker Barrel acknowledged…
Liberte Locke, a 32-year-old “barista” at a Starbucks (SBUX) in New York City, is fed up. “Starbucks’ attitude is that there’s always someone else who can do the job,” she said in running through her complaints about life at the java giant. If that isn’t necessarily the consensus among Starbucks workers, interviews with nine current…
The Air Jordan sneaker turns 40 this year. Luke Burbank traces the origins of the iconic shoe back to NBA legend Michael Jordan’s first meeting with Nike, then a relatively small sneaker company in Oregon. [First aired 5/18/25.]
Cracker Barrel shed almost $100 million in market value Thursday after its stock plunged following the release of a new logo. The new design eliminates a longstanding drawing of an overall-clad man leaning against a barrel, in favor of a cleaner logo featuring just the chain’s name. Shares of Cracker Barrel fell $4.22, or 7.2%,…
Multiple postal services around Europe announced Saturday that they are suspending the shipment of many packages to the United States amid a lack of clarity over new import duties. Postal services in Germany, Denmark, Sweden and Italy said they will stop shipping most merchandise to the U.S. effective immediately. France and Austria will follow Monday,…
President Trump said that Intel has agreed to give the U.S. government a 10% stake in its business. Speaking with reporters on Friday, Mr. Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan — which came days after the president called for Tan to resign over his…
Federal Reserve Chair Jerome Powell on Friday highlighted twin economic risks of a slowing labor market and rising inflation, but opened the door to rate cuts in a widely anticipated speech at the annual Jackson Hole, Wyoming economic forum. “Risks to inflation are tilted to the upside, and risks to employment are to the downside…
Newly unsealed and edited video shows TikTok employees and consultants expressing concern that potentially addictive features of the app could harm users’ mental health. The video compilation, which was shared with CBS News by the North Carolina Department of Justice, is part of the evidence in a 2024 lawsuit the state’s former attorney general filed…
A July 11 post in a Hoboken, New Jersey, parenting group on Facebook pointed to a frustrating trend: “Our utility bill is more than double what it was last month. … Anything we can do about it?” The post had several dozen replies and most of the commenters said their home utility bills had also…
President Trump called on Federal Reserve Governor Lisa Cook to resign on Wednesday after one of his administration’s officials alleged she had engaged in mortgage fraud and urged an investigation. Bill Pulte, who Mr. Trump appointed as director of the U.S. Federal Housing Finance Agency in March, made the allegations on X, claiming Cook committed…
The Trump administration is proposing a new rule that would bar people with outstanding college loans from relief on that debt if their employers were found to be “undermining national security and American values through illegal means.” The proposed rule, announced Monday by the Department of Education, would restrict people from participating in the federal Public Student…
Walmart said it is recalling some frozen shrimp after the Food and Drug Administration warned that the seafood items, sold under the Great Value label, are at risk of radioactive contamination and shouldn’t be consumed. The frozen shrimp were imported from Indonesian company PT. Bahari Makmur Sejati and sold at Walmart stores as Great Value…
The Powerball lottery jackpot — the biggest of the year — is swelling after nobody won in Monday night’s drawing. The jackpot is now $643 million, with the next drawing set for Wednesday night. Although no one took home the full prize, two Powerball players won $1 million each, according to Powerball. A single Powerball…
NFL fans will soon be able to let their feet do the talking in cheering on their favorite team. Shoe company Crocs and the NFL announced Monday that they were launching a new collection starting September 18, two weeks after the season kicks off with a game between the Dallas Cowboys and Philadelphia Eagles. The…
The Canada Industrial Relations Board declared a strike by 10,000 Air Canada and Air Canada Rouge flight attendants illegal Monday and ordered them back on the job after they ignored an earlier order to return to work and submit to arbitration. The strike at Canada’s largest airline entered its third day on Monday and is…
Air Canada is delaying its plans to resume services on Sunday after its 10,000 striking flight attendants defied the Canadian government’s return-to-work order to remain on the picket lines. The strike, which began on Saturday morning, stranded more than 100,000 travelers around the world during the peak summer travel season. The Canada Industrial Relations Board…
You know them as Flo, the Progressive Insurance saleswoman; Mayhem, the human embodiment of disasters covered by Allstate; and the unstoppable dancer from the Jardiance diabetes drug ads. Correspondent David Pogue talks with actors Stephanie Courtney, Dean Winters and Deanna Colon about how becoming nationally famous via TV commercials has (or hasn’t) changed their lives….
Old shipping containers are plentiful in the U.S., and architect Brian Stark knows exactly what to do with them. He began by designing buildings out of old shipping containers, which are scattered across the streetscape of Phoenix. His projects are as much about cost-saving as they are about being environmentally friendly, with the long-term goal…
Air Canada suspended all operations as more than 10,000 of the airline’s flight attendants went on strike early Saturday after a deadline to reach a deal passed. Canadian Union of Public Employees spokesman Hugh Pouliot confirmed the strike had started after no deal was reached, and the airline said shortly after that it would halt…
Taylor Swift‘s upcoming album release and her love of all things orange isn’t lost on her fans — or brands that are seeking a ride on what has become an enormous economic tailwind. On Wednesday after Swift went on the “New Heights” podcast co-hosted by her boyfriend, NFL football star Travis Kelce, to announce the…
Millions of AT&T customers can now file claims in a $177 million legal settlement related to two data breaches, which could provide up to $7,500 in compensation per person. The first data breach, announced in March 2024, affected 73 million current and former AT&T account holders whose information — including birth dates and Social Security numbers —…
Air Canada began canceling flights Thursday ahead of a possible strike by its flight attendants that could impact hundreds of thousands of travelers. A complete shutdown of the country’s largest airline threatens to impact about 130,000 people a day. The airline said in a social media post that nearly 300 flight attendants, “twice as much as…
Popular sunscreen products that come in mousse form, such as Supergoop!’s body mousse, may not protect wearers from the sun’s harmful UV rays, the U.S. Food and Drug Administration is warning. “Beware of sunscreen products in mousse form because they might not be effective,” the FDA said in a post on X after issuing five…
New York Attorney General Letitia James filed a lawsuit Wednesday against Early Warning Services, or EWS, alleging the parent company of Zelle failed to implement certain safeguards, causing “catastrophic harm to millions of consumers” and allowing fraudsters to steal more than $1 billion from 2017 to 2023. EWS, which is co-owned by Bank of America, Capital One,…
Louisville, Ky. — GE Appliances plans to shift production of refrigerators, gas ranges and water heaters out of China and Mexico as part of a more than $3 billion investment to expand its U.S. operations in Kentucky, Georgia, Alabama, Tennessee and South Carolina. The investment – the second-largest in the Louisville-based company’s history – is…
Shares of Spirit Aviation Holdings, the parent company of Spirit Airlines, plunged Tuesday after warning about its ability to stay in business. Shares of Spirit Aviation Holdings tumbled $1.39, or 39%, to $2.15 in early afternoon trading. The budget carrier had warned it has “substantial doubt” about its ability to continue as a going concern…
Washington — President Trump announced E.J. Antoni as his nominee to lead the Bureau of Labor Statistics on Monday, after he fired the former commissioner earlier this month, blaming her for a weaker-than-expected jobs report. Antoni is a fellow at the conservative Heritage Foundation think tank, and he holds a doctorate in economics from Northern…
Why Trump is calling for Intel CEO to resign Why Trump is calling for Intel CEO’s immediate resignation 01:37 President Trump called on Intel CEO Lip-Bu Tan to resign on Thursday, prompting a slide in the technology company’s stock. “The CEO of Intel is highly CONFLICTED and must resign, immediately,” Mr. Trump posted on Truth…
A new version of ChatGPT has arrived that OpenAI CEO Sam Altman promises will have Ph.D-level smarts. OpenAI on Thursday announced the release of GPT‑5, which it calls its “smartest, fastest and most useful model yet.” The artificial intelligence company that brought the world ChatGPT says its latest version of the AI-powered chatbot will be…
Washington — President Trump officially began levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his months-long tariffs threats was beginning to create visible damage to the U.S. economy. The White House said that starting just after midnight EDT, goods from more than 60 countries and the European Union…
Walt Disney Co. is integrating Hulu and Disney+ into one app, the entertainment company announced Wednesday. During an earnings call, CEO Bob Iger said Disney would combine the two streaming services to create a “unified app experience” that will feature entertainment, news and sports. “This will create an impressive package of entertainment, pairing the highest…
The housing market has been in a serious crunch since the COVID-19 pandemic, with limited inventory, elevated home prices and mortgages in the 7% range, continuing to keep many would-be home buyers locked out. But even amid such tight constraints, modest declines in home prices can still be found in some regions of the country. That’s…
The Bureau of Labor Statistics last week issued a steep downward revision to May and June’s hiring numbers, prompting President Trump to call the edits “miscalculations” by the department’s commissioner, whom he subsequently fired, in a social media post on Aug. 1. While the downward revision of May and June payroll growth by 258,000 marked the largest two-month downward…
The U.S. job market, already showing the strain from global trade tensions, is showing early signs of another critical issue facing workers today: artificial intelligence. For the first seven months of 2025, rising adoption of generative AI technology by private employers accounted for more than 10,000 job cuts, according to a report released this…
White House holds firm on tariff rates White House holds firm on tariff rates ahead on Aug. 7 deadline 03:59 The European Union announced Monday it would delay retaliatory tariffs on U.S. goods for six months, giving both countries time to implement the trade agreement they reached late last month. The retaliatory tariffs, which were…
Jamieson Greer, the U.S. trade representative, said in an interview that aired Sunday that tariff rates are “pretty much set” on more than 60 trading partners after President Trump’s executive order last week. “So these, these tariff rates are pretty much set,” Greer said in an interview Friday with “Face the Nation with Margaret Brennan….
Latitude Margaritaville, a 55+ community, is inspired by the vibes of the late musician Jimmy Buffett. It’s just one of the 800 active adult communities in the U.S., where retirees are finding community, and more. Correspondent Martha Teichner reports from the Daytona Beach community where it’s always five o’clock. [Originally broadcast April 13, 2025.]
President Trump ordered his administration to fire the commissioner of labor statistics, Erika McEntarfer, after the July jobs report showed a sharp slowdown in hiring and a steep downward revision to May and June’s hiring numbers. “No one can be that wrong? We need accurate Jobs Numbers. I have directed my Team to fire this…
Warren Buffett’s company reported less than half as much profit in the second quarter as it took a $3.76 billion writedown on the value of its stake in Kraft Heinz, as that iconic food producer considers largely undoing the merger that Berkshire Hathaway helped bankroll. Berkshire said it earned $12.37 billion, or $8,601 per Class A share,…
U.S. Trade Representative Jamieson Greer defended President Trump’s decision to fire a key official responsible for employment reports, telling CBS News on Friday that Mr. Trump has “real concerns” about the accuracy of federal economic data. Greer spoke to “Face the Nation with Margaret Brennan” hours after the monthly jobs report showed a hiring slowdown…
Public broadcasting cuts and rural areas Public broadcasting funding cuts could lead to news blackouts in rural areas 03:03 The Corporation for Public Broadcasting said Friday it would begin winding down its operations after its funding was eliminated by the Trump administration and Congress. The CPB is a private nonprofit that serves as a steward…
President Trump on Thursday formally announced higher tariffs against more than 60 U.S. trading partners starting next week — just hours before the administration’s self-imposed midnight deadline. The president signed an executive order listing out tariff rates for imports from dozens of countries, including a handful that have cut trade deals with the administration and…
President Trump on Thursday said he’s giving Mexico an additional 90 days to strike a trade deal, with the announcement coming a day before his administration’s Aug. 1 deadline to impose 30% tariffs on imports from the nation. Mr. Trump had said earlier this month that the 30% import duties would begin on Friday for…
President Trump announced Wednesday he has struck a trade deal with South Korea. Mr. Trump wrote on Truth Social that South Korean goods will face a 15% tariff — lower than the 25% he threatened earlier this month — while U.S. imports to South Korea will not face tariffs. He said South Korea will be “OPEN TO TRADE” and…
A previously disclosed hack affecting Tea, a women-only dating advice app, was more extensive than previously thought, the company said Monday. Tea’s investigation of the incident found that app users’ direct messages had been breached, along with some of their photos. “Out of an abundance of caution, we have taken the affected system offline,” San…
Indeed and Glassdoor, the job search and employee review firms, are slashing a total of roughly 1,300 jobs as their parent company, Japan’s Recruit Holdings, embraces artificial intelligence. In an email to employees Thursday, Recruit Holdings CEO Hisayuki “Deko” Idekoba said that “AI is changing the world” and that the company must adapt accordingly. The…
Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific’s vast rail network in the West with Norfolk’s rails that snake across…
President Trump announced Monday a significant tightening of his deadline for Russia’s Vladimir Putin to agree to a ceasefire with Ukraine. He said as he met with U.K. Prime Minister Keir Starmer during his visit to Scotland that the 50-day deadline he announced earlier this month would be reduced to less than two weeks, citing…
PayPal said Monday it will allow businesses to accept payments in more than 100 types of cryptocurrencies, including bitcoin and ethereum. Called “Pay with Crypto,” the new service will allow consumers to use many types of cryptocurrencies to complete their purchases, as well as to use wallets such as Coinbase and MetaMask, the company said…
President Trump announced Sunday that the United States and the European Union had reached a trade deal after high-stakes meetings in Scotland, just days shy of Friday’s White House deadline to enact tariffs. Mr. Trump met with top European officials demanding fairer trade with the 27-member European Union at his golf course on the Scottish…
President Trump on Friday said he’s considering issuing rebate checks for Americans based on the billions in new tariff revenue collected by his administration. “We’re thinking about a little rebate. But the big thing we want to do is pay down debt. But we’re thinking about a rebate,” Mr. Trump said in comments to reporters…
Parents rush to buy school supplies before tariff deadline – CBS News Watch CBS News The National Retail Federation says more parents than ever are bracing for price hikes and are trying to get ahead of the Aug. 1 tariff deadline by shopping for school supplies in the middle of summer. Ali Bauman has more.
The new normal for U.S. tariffs on foreign goods starts at 15%. Even as President Trump seeks to forge new terms of trade with Japan, the European Union and other global economic partners, he is raising the floor for tariffs to their highest level in decades. Speaking at an AI summit on Wednesday, Mr. Trump said “we’ll…
The most downloaded free app on Apple’s App Store currently isn’t ChatGPT, Threads or Google. It’s Tea, a dating advice app that lets women review men they’ve gone out with, as well as warn other single women about dates they claim went awry. Tea Dating Advice, an app for helping women vet their dates, is…
President Trump said on Friday there is a “50/50 chance, maybe less than that” of his administration striking a trade deal with the European Union ahead of a looming deadline next week. Mr. Trump, who made the comments before he left for a four-day visit to Scotland, comes ahead of the White House’s Aug. 1…
The Federal Communications Commission has cleared the way for Paramount Global to complete its merger with Skydance Media, announcing Thursday that it has approved the deal. The decision removes a final hurdle for the media and entertainment companies to close their transaction. Paramount is the parent company of CBS. “Americans no longer trust the legacy…
Washington — President Trump is visiting the Federal Reserve headquarters in Washington Thursday, a week after indicating that Fed chair Jerome Powell’s handling of an extensive renovation project on two Fed buildings could be grounds for firing. Mr. Trump has criticized Powell for months because the Fed has kept the short-term interest rate the Fed…
Stacy Esser, realtor and founder of the Stacy Esser Group in Tenafly, New Jersey, says it’s still a seller’s market, but believes a small shift that favors homebuyers is coming. “Maybe a house was taking one week to sell, and now we’re kind of hovering at three weeks,” Esser told CBS News. Part of the…
The Hershey Company on Tuesday confirmed media reports it is raising candy prices as it battles rising cocoa costs. The price change will be a “low double-digit increase” and affect products across the company’s confection portfolio, according to a Hershey spokesperson. Founded in 1894, the Pennsylvania-based company owns over 90 brands including Hershey Kisses, KitKat, Reese’s…
President Trump said Tuesday he has struck a “massive” trade deal with Japan that calls for 15% tariffs on goods the U.S. imports from the country. The president wrote on Truth Social that, as part of the agreement, Japan will invest $550 billion into the U.S., “which will receive 90% of the Profits.” He also…
A U.S. Department of Commerce employee has been restricted from leaving China by authorities in Beijing, a State Department spokesperson told CBS News on Monday. The unidentified government employee’s restricted travel was confirmed as Beijing revealed new information about a U.S.-based Wells Fargo banker who has also been subjected to an exit ban. “We can…
Southwest announces when passengers can book assigned seating Southwest announces when passengers can book assigned seating 02:35 Southwest Airline’s open seating policy is coming in for its final approach. The Texas-based carrier said Monday that flights with assigned seats will begin on Jan. 27, 2026, marking the end of an era in which the discount carrier…
Microsoft issued an emergency fix to close off a vulnerability in its SharePoint software that hackers have exploited to carry out widespread attacks on businesses and at least some federal agencies. The software giant on Saturday said it was aware of “active attacks” that exploited vulnerabilities in the program, a product that allows companies and…
Trump signs GENIUS Act, first federal law regulating crypto – CBS News Watch CBS News President Trump held a signing ceremony at the White House on Friday after Congress passed the GENIUS Act, a landmark federal law that will regulate cryptocurrency. Specifically, the GENIUS Act will set government guidelines for the cryptocurrency known as stablecoin….
Washington — President Trump signed a landmark bill to regulate cryptocurrency on Friday, hailing the “exciting new frontier” for the technology one day after the bill passed the House. The legislation, called the GENIUS Act, is the first major law governing digital currency, and establishes a regulatory framework for the $250 billion stablecoin market. Stablecoins…
Trump says Coke agrees to switch formula back to cane sugar, like in Mexico – CBS News Watch CBS News Amid the crisis in the Middle East, the Epstein controversy and drama at the Federal Reserve, President Trump also pushed Coca-Cola into the political spotlight. The president wants its sweetener switched. Elise Preston has the…
Kayem Foods recalling more than 24,000 pounds of chicken sausage Kayem Foods recalling more than 24,000 pounds of chicken sausage 00:29 Kayem Foods Inc. is recalling over 24,000 pounds of ready-to-eat chicken sausage products that may be contaminated with pieces of plastic, the U.S. Department of Agriculture’s Food Safety and Inspection Service said Thursday. The…
The technology company Astronomer said Friday that its board of directors has started a formal investigation after its CEO, Andy Byron, was shown embracing a woman on a screen during a Coldplay concert. “Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the…
Airports from Boston to Atlanta have seen a substantial spike in flight cancellations since the summer travel rush began this year compared to the same period in 2024. Nationally, the cancellation rate is up about 29% from 1.4% of flights being canceled in 2024 to 1.8% so far this summer. Historically, airlines see between 1…
President Trump asked about the idea of firing Federal Reserve Chair Jerome Powell in a meeting with lawmakers this week, CBS News has reported, a legally untested move that follows years of on-and-off criticism of the Fed leader leveled by Mr. Trump. The president’s gripes with his handpicked Fed chair — whom he has called…
Washington — The House is expected to vote Thursday on a landmark piece of legislation to regulate cryptocurrency after its fate appeared in limbo when right-wing Republicans staged a rebellion that brought the floor to a standstill. The bill, known as the GENIUS Act, is set to become the first major crypto legislation ever passed…
Reno, Nevada — In a field outside of Reno, Nevada, sit rows and rows of solar panels soaking up sunshine. Beside them are used electric vehicle batteries under white plastic, whose job is to keep two data centers for Crusoe, an artificial intelligence cloud platform, running day and night. “The whole AI industry is struggling…
The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year. By the numbers The CPI was forecast to rise 2.7% last month, higher than last month’s rate of 2.4%, according to economists polled by financial data firm FactSet. June’s…
So-called stablecoins could be a step closer to becoming a mainstream form of payment in the U.S. as the House of Representatives considers a bill regulating the digital currency. The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin,…
More than a dozen countries from Asia to the Middle East and South America are potentially in President Trump’s crosshairs if he goes ahead with his threat to impose 100% tariffs on goods exported to the United States over their economic ties with Russia. “We’re going to be doing very severe tariffs if we don’t…
The Trump administration is imposing a 17% tariff on most fresh Mexican tomatoes, the federal government said Monday, ending a yearslong agreement with the U.S.’s southern neighbor over trade practices. The move comes amid a separate push by President Trump to increase tariffs on dozens of U.S. trading partners, including Mexico, which was told over…
European markets mostly fell Monday as investors digested President Trump’s latest trade war salvos, which saw him threaten to hit the European Union and Mexico with 30% tariffs starting on August 1. Mr. Trump’s threat came after a series of announcements last week that included warnings of a possible 50% levy on all copper imports…
While online dating apps makes searching for love more convenient, finding that special person is as difficult as ever. A cute photo and simple “hello” may not be enough to help you break through the noise, which is why many of those feeling stuck on what to say are turning to artificial intelligence for assistance. …
Hartford Bakery, Inc. is voluntarily recalling hundreds of loaves of its “Lewis Bake Shop Artisan Style 1/2 Loaf” since the product may contain undeclared hazelnuts, the company said in an announcement shared by the Food and Drug Administration. “People with a nut allergy or severe sensitivity to hazelnuts run the risk of serious or life-threatening…
What to know as home prices show signs of cooling off – CBS News Watch CBS News For years, the U.S. housing market has boomed, pricing many out of their financial comfort zone and the market. Now, home prices are showing signs of cooling off. CBS News New York’s Ali Bauman has details for buyers…
President Trump on Saturday announced he is levying 30% tariffs against Mexico and the European Union. They are set to begin on August 1. He announced the tariffs on two of the United States’ biggest trade partners in letters posted on this Truth Social account. In his letter to Mexican President Claudia Sheinbaum, Mr. Trump…
A top Trump administration official accused Federal Reserve Chair Jerome Powell of leading an “ostentatious” office renovation project that may be “violating the law” on Thursday, a new broadside against the central bank chief as President Trump tangles with him over interest rates. “The President is extremely troubled by your management of the Federal Reserve…
The millions of Americans with student loans, who have already experienced whiplash in federal policy since the pandemic, must again brace for change. The “big, beautiful bill” that President Trump signed into law on July 4 overhauls the federal student loan system by reducing the number of repayment plan options down to two and capping…
Atlanta, Georgia — Pillows filled and sealed for a good night’s sleep at the Atlanta warehouse of home bedding company Standard Fiber are one of many things giving its CEO, Chad Altbaier, nightmares. “Planning is practically impossible,” Altbaier told CBS News. “Probably the most challenging time of my career.” Nevada-based Standard Fiber is the middleman…
Elon Musk on Wednesday unveiled Grok 4, a new version of his X platform’s AI chatbot. The update comes a day after the bot posted antisemitic content on the social media network. Musk introduced the new model in a livestream on X late Wednesday, calling Grok 4 “the smartest AI in the world.” “It really…
President Trump said Wednesday he would impose a 50% tariff on goods from Brazil next month, one of the steepest rates for any U.S. trading partner, citing the criminal prosecution of former Brazilian President Jair Bolsonaro, which Mr. Trump called an “international disgrace.” Mr. Trump has sent open letters to about 20 countries this week…
Soaring U.S. beef prices are hitting consumers in the wallet and raising costs for restaurants. “Anybody should be able to afford a burger,” said Andrew Schnipper, a managing partner at Hamburger America in New York City. “It’s never been an expensive item historically.” Yet the restaurant may be forced to raise the price of its…
The Transportation Security Administration’s shoe rule expired on Monday, relieving fliers of the requirement to remove their footwear while passing through security before boarding a plane. Speaking at a press briefing on Tuesday at Washington, D.C.’s Reagan National Airport, Homeland Security Secretary Kristi Noem said that, starting Tuesday, all passengers traveling through domestic airports can keep…
Stocks sank Monday after President Trump announced a fresh salvo of tariffs on more than a dozen countries as he works to rectify what he views as persistent trade imbalances. The S&P 500 as fell 49 points, or 0.8%, to close at 6,230, while the Dow Jones Industrial Average fell 422 points, or 0.9%, to close…
President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by Aug. 1, while also threatening to hit a dozen other nations with steep import duties by next month. Mr. Trump initially posted two nearly identical letters, addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee…
The White House is set to put pressure on the U.S.’s trading partners this week to sign new tariff deals, with the hope that they will be finalized before a Wednesday deadline. The Trump administration is expected to send dozens of letters to countries that have not made a trade deal, warning them that higher…
Washington — White House National Economic Council director Kevin Hassett said Sunday that “rough outlines of the deals are becoming clear” ahead of a key tariff deadline this week, with agreements like the U.K. and Vietnam deals serving as “guidelines for what might happen” with other countries. “There’s going to be quite a bit of…
July Fourth is here, with millions of Americans expected to gather at fireworks shows, barbecues and the beach for the nation’s annual Independence Day celebration. Banks and post offices will be closed, but many grocery stores and retailers plan to remain open for anyone needing to do some last-minute shopping. Read on to see which…
College grad unemployment surges as employers replace new hires with AI – CBS News Watch CBS News The unemployment rate for new college graduates has recently surged. Economists say businesses are now replacing entry-level jobs with artificial intelligence. Ali Bauman has the story. Be the first to know Get browser notifications for breaking news, live…
President Trump’s promise to eliminate federal income tax on worker tips will become a reality Friday when he signs the massive budget package into law. After narrowly squeaking through the House on Thursday, the “big, beautiful bill” now heads to the president’s desk for his signature. As part of the legislation, workers who rely on tips for a…
As Congress was approving President Trump’s “big, beautiful bill” on Thursday, the Social Security Administration touted the legislation by stating that it “eliminates federal income taxes on Social Security benefits for most beneficiaries.” That claim, which echoes previous promises by Mr. Trump to remove taxes on Social Security, may have come as welcome news for the millions…
A 90-day freeze on sweeping U.S. tariffs is set to expire on July 9, sowing economic uncertainty as the Trump administration works to revamp the terms of global trade. The stakes for millions of U.S. consumers and businesses are high. Economists warn that the barrage of import duties announced on April 2, which President Trump called “Liberation…
The Environmental Protection Agency has placed 139 employees on leave after they signed a letter criticizing the Trump administration’s environmental policies. The letter, titled a “Declaration of Dissent,” accuses the Trump administration of undermining the EPA’s mission of protecting the environment by promoting “harmful deregulation” and showing”disregard for scientific expertise.” The document, which was released…
Day camp providers and schools say the Trump administration’s funding freeze could ruin summer for low-income American families and jeopardize some after-school programs next year. The administration is holding back over $6 billion in federal grants for after-school and summer programs, English language instruction, adult literacy and more as it conducts a review to ensure…
Merit Street Media, the multiplatform network owned by former daytime talk show host Dr. Phil McGraw, has filed for bankruptcy less than two years after its launch. The television and entertainment company filed the motion for Chapter 11 protection on Wednesday in the U.S. Bankruptcy Court in the Northern District of Texas. The filing comes…
Small businesses facing higher import costs because of steeper U.S. tariffs are having to find different ways of handling the added expense. Facing hefty tariffs on parts shipped from China, one small business owner took the hit by redeeming over 1.8 million reward points on his American Express card. Robert Keeley, owner of Keeley Electronics,…
The Senate bill containing President Trump’s domestic policy agenda at the last minute eliminated a new excise tax that would have hammered the renewable energy industry, a move that likely ensured Republican Sen. Lisa Murkowski of Alaska would back the measure. The excise tax would have been imposed on wind and solar energy projects constructed…
GE Appliances executive Lee Lagomarcino said U.S. trade policy was the driving factor in the company’s recent decision to accelerate a plan to move overseas jobs back to the U.S. “Any time we decide to move a factory or redesign a platform, it’s an expensive endeavor, so we have to think through the strategy and…
Elon Musk ramped up his criticism of the massive tax and domestic policy package working its way through the Senate on Monday, suggesting he could support primary challenges against Republicans who vote for the Trump-backed bill. “Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase…
Toronto — Canadian Prime Minister Mark Carney said late Sunday trade talks with U.S. have resumed after Canada rescinded its plan to tax U.S. technology firms. President Trump said Friday that he was suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called “a direct and…
It’s rare to sit down with a CEO and the CEO’s mother. The proud mom is Lili Khosrowshahi; her son, Dara, is behind the wheel at Uber as its chief executive. “I actually say he works for Uber,” said Lili. “Sometimes I say he drives, he’s a driver.” They sat down with us to share…
Chrysler is voluntarily recalling some of its 2022-2025 Pacifica and Voyager vehicles to replace their side curtain airbags, if needed. The recall potentially affects 250,651 vehicles, and it’s because some side curtain airbags may not hold enough pressure during deployment to limit the risk for passengers during certain types of crashes, according to the National…
Famed investor Warren Buffett is donating $6 billion worth of his company’s stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received. Buffett said late Friday that the shares of Berkshire Hathaway will be delivered on Monday. Berkshire Hathaway owns Geico,…
Merriam, Kansas — Most will see just a furniture store when they visit My Home Contemporary Furniture in Merriam, Kansas, but for owner Henrik Svendsen, it’s the culmination of his life’s work. “I opened up four years ago,” Svendsen told CBS News. “I thought it would be the retirement for the kids.” Svendsen is closing…
Billionaire Amazon founder Jeff Bezos and former TV journalist Lauren Sánchez got married in Venice, Italy, on Friday, with a star-studded celebrity guest list joining them for the festivities. Sánchez posted a photo of the couple on Instagram, showing herself in a fitted wedding dress with a long train, high neck and lace sleeves, and…
The U.S. and China have agreed on the framework for a trade deal, both nations say. President Trump said at a White House event Thursday that Washington and Beijing had signed an agreement on trade, adding that he expects to have a deal with India soon. But Beijing and the White House later referred to…
The S&P 500 is approaching a record high, marking a stunning turnaround from April when stocks nosedived after President Donald Trump unveiled a flurry of tariffs on so-called “Liberation Day.” The S&P 500 has jumped 23% since closing at its 2025 low on April 8. On Thursday, it closed up 9 points, or 0.8%, to…
The Republican budget package aims to make President Donald Trump’s tax cuts permanent while offering a host of new financial breaks. Yet the “big, beautiful bill,” as the legislation is dubbed, could also effectively transfer wealth from younger generations to older Americans over their lifetimes, a recent study finds. Long-term, the primary beneficiaries of the GOP bill…
Fortnite gamers who were charged for unwanted purchases while playing the online video game could receive a slice of the $126 million in refunds the Federal Trade Commission is sending out this week. The regulatory agency is reopening the claims submission process for gamers who are eligible for a refund under a $245 million settlement…
Stocks look set to extend their gains Tuesday, with futures contracts climbing amid investor hopes that Israel and Iran would abide by a ceasefire announced by President Trump. As of 8:51 a.m. EDT, S&P 500 futures were up 42 points, or 0.7% while Dow Jones Industrial Average futures added 274 points, or 0.6%. Nasdaq Composite…
Anthropic has won a major legal victory in a case over whether the artificial intelligence company was justified in hoovering up millions of copyrighted books to train its chatbot. In a ruling that could set an important precedent for similar disputes, Judge William Alsup of the United States District Court for the Northern District of…
JetBlue ends service to Miami International Airport JetBlue ends service to Miami International Airport 00:15 JetBlue Airways is ceasing service at Miami International Airport as the discount carrier moves to cut costs by eliminating less profitable routes. Miami International officials told CBS News Miami this weekend that the last JetBlue flight is scheduled for September…
The U.S. military strikes in Iran are raising questions about the impact on supplies of oil and gas, including whether the widening conflict could result in higher energy prices for Americans. The price of the West Texas Intermediate crude, the U.S. benchmark, jumped 4% on Sunday night shortly after the start of trading, but fell…
The median home sale price in the U.S. just touched a record high, but new data shows that buyers are nevertheless paying below asking price. The median sale price hit a record $396,500 for the four weeks ending June 15, or a 1% increase from a year earlier, according to a Friday report from Redfin. But…
The Waldorf Astoria, a hotel that defined hospitality, is reborn – CBS News Watch CBS News For nearly a century, New York City’s Waldorf Astoria set the standard for luxury hotels. Now, after seven years, an army of artisans has brought the Art Deco beauty back to life. “CBS Mornings” co-host Gayle King takes a…
Meta is expanding its line of AI-powered eyewear through a new partnership with sportswear brand Oakley. The new smart glasses introduced Friday, called Oakley Meta HSTN, were built for performance wear and are intended for “athletes and fans alike” according to a Meta statement. The full lineup will arrive this summer, Meta says, with glasses starting…
After years of teasing a new line of self-driving vehicles, billionaire tech CEO Elon Musk is finally making good on his promise with the rollout of Tesla’s robotaxi service. When is the robotaxi event? This Sunday, June 22, Tesla will give a select group of people the chance to ride in its Model Y Robotaxis…
President Trump suggested Friday he may try to fire Federal Reserve Chair Jerome Powell, calling the central bank leader a “Total and Complete Moron” for leaving interest rates steady. The president has been lashing out against Powell for months, criticizing the central banker — whom Mr. Trump appointed in his first term — for not…
How to save on groceries as prices climb How to shop smarter and spend less as grocery prices climb 03:49 Kroger said it plans to close 60 of its supermarkets across the U.S. over the next 18 months. The planned store closures represent about 5% of the Cincinnati-based company’s 1,239 Kroger-branded grocery stores across 16…
Some airlines have continued to suspend flights between the United States and the Middle East amid the conflict between Israel and Iran. United Airlines said it will pause its daily flights between New Jersey’s Newark Liberty International Airport and Dubai “due to conflict in the region.” The airline did not say when flights between the…
Pavel Durov, the founder and CEO of Telegram, a messaging app, has fathered more than 100 children, all of whom will share in the inheritance of his multi-billion-dollar fortune, he told French magazine Le Point in a wide-ranging interview published Thursday. Durov, who told the magazine that he recently drafted his will, said that his…
Home sellers hoping to get the highest price for their listings should pay particular attention to room paint colors, among other aesthetic considerations that can drum up interest among buyers. Why? Rooms’ paint colors can boost a home’s sale price by almost $2,600, according to a new report from real estate marketplace Zillow. The hottest…
The U.S. Food and Drug Administration has approved the drug lenacapavir as a twice-yearly injection to prevent HIV. The drug, called Yeztugo from company Gilead Sciences, was approved Wednesday based on data from clinical trials that showed 99.9% of participants who received it remained HIV negative. Daniel O’Day, Gilead’s chairman and chief executive officer, called…
The Trump administration has lifted a short-lived pause on immigration arrests at farms, hotels and restaurants, reversing a major policy pivot just a few days after issuing it internally, two sources familiar with the latest guidance told CBS News. One of the sources said U.S. Immigration and Customs Enforcement officials were told they could continue…
Amazon’s CEO envisions an “agentic future” in which AI robots, or agents, replace humans working in the company’s offices. In a memo to employees made public by Amazon on Tuesday, CEO Andy Jassy said he expects the company to reduce its corporate workforce as soon as the next few years, as it leans more heavily on Generative…
The Trump Organization announced it is starting a cellular phone service called T1 Phone by Trump Mobile that will charge $47.45 a month and include unlimited calls, text and data. It also plans to roll out a new $499 phone that will be built in the U.S. The new service was designed to coincide with…
At Home, the home decor and furniture retailer with more than 200 locations in the United States, is filing for bankruptcy. The popular retail chain announced Monday that it is entering Chapter 11 protection as part of a restructuring agreement intended to eliminate $2 billion in debt and provide $200 million in capital to aid…
Former Insys CEO sentenced to prison time for pushing opioids – CBS News Watch CBS News The former chairman of pharmaceutical company Insys Therapeutics was sentenced to more than five years in prison for operating a scheme that fueled the opioid crisis. He was also ordered to pay a $250,000 fine. Anna Werner reports. Be…
Walmart heiress Christy Walton’s advertisement in The New York Times over the weekend has led some consumers to threaten a boycott of the retailer. The ad promoting a nationwide anti-Trump protest has prompted backlash against Walmart despite the company distancing itself from the full-page ad. “The advertisements from Christy Walton are in no way connected…
What to know about Army anniversary parade What to know about Trump’s Army anniversary parade and “No Kings” protests 04:54 “No Kings” merchandise is cropping up for sale on Amazon, Temu and other online retailers ahead of the planned nationwide protests against the Trump administration on Saturday. Hundreds of t-shirts, hats, signs and posters are…
President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible “golden share” held by the federal government — remain unclear. The president signed an executive order that says Nippon can buy the iconic Pittsburgh-based steelmaker as long…
Stocks closed lower on Friday and oil prices climbed after a military strike by Israel on Iran stirred investor fears about the risk of war breaking out in the Middle East. The S&P 500 slid 68 points, or 1.1%, to end the day at 5,977, while the Dow Jones Industrial Average dropped 770 points, or…
Ford CEO Jim Farley said that a rare earth minerals shortage is hurting production and caused the automaker to temporarily shut down one of its plants last month, according to an interview with Bloomberg TV. Rare earth minerals, which are a set of 17 metallic elements, are integral to automobile production, and enable features like…
An upgrade for U.S. airports – CBS News Watch CBS News Travelers aren’t complaining about layovers at Singapore’s Changi Airport (consistently ranked the best in the world) thanks to its movie theaters, rooftop pool, hot tub, and butterfly garden. Yet in the United States, there isn’t an airport within the Top 30 of the World’s…
Online spending on track to hit a new record this holiday season – CBS News Watch CBS News Millions of shoppers are skipping brick and mortar stores this holiday season. With Cyber Monday deals, spending is expected to hit a new record. Adriana Diaz reports. Be the first to know Get browser notifications for breaking…
How Starbucks’s open-bathroom policy may be taking a toll on its business – CBS News Watch CBS News The chain opened its bathrooms to everyone last year, but it may be putting itself at a disadvantage to rivals, a study says. Be the first to know Get browser notifications for breaking news, live events, and…
Starbucks is testing a new menu item that will give people a protein boost with their morning dose of caffeine. The coffee chain is piloting a new protein cold foam at certain locations across the U.S., a Starbucks spokesperson told CBS MoneyWatch. The foam is banana-flavored and served with the retailer’s iced latte beverage. Protein…
Senior U.S. and Chinese negotiators have agreed on a “framework” to move forward on trade talks after a series of disputes had threatened to derail them, representatives from both sides said. The disputes — over visas, minerals and microchips — had shaken a fragile truce reached in Geneva last month to ease some of the…
Corporate leaders’ outlook for the U.S. economy is improving, with most CEOs saying they do not expect a recession this year, a new survey shows. The June poll of 277 CEOs by Chief Executive found that 28% of business leaders expect a recession in the near term — that’s down from 46% in May. In April,…
White House trade official Peter Navarro downplays consumer impact of Chinese tariffs – CBS News Watch CBS News White House trade adviser Peter Navarro joins Margaret Brennan to discuss protests in Hong Kong, the economy and trade talks with China. Be the first to know Get browser notifications for breaking news, live events, and exclusive…
Celebrity pot entrepreneurs – CBS News Watch CBS News From fashion to fragrance, celebrity sells. And with marijuana sales expected to reach $8-10 billion by the end of this year – and projected to double to $20 billion by 2022 – more celebs are investing money and lending their names to get a foothold in…
White House National Economic Council director Kevin Hassett said Sunday the Trump administration is not targeting Medicare in its sweeping budget proposal, but signaled the administration would be open to changes if senators uncover fraud or abuse as they look at the bill. “If somebody finds waste, fraud and abuse in Medicare, then of course…
BowFlex is recalling millions of units of its adjustable dumbbells because their weight plates can dislodge and cause injury to users. The recall comes after over 100 reports of injuries including concussions, abrasions, broken toes or contusions, according to the CPSC. The dumbbells are popular because of their versatility: They allow users to lift dumbbells…
Toys caught in the crosshairs of Trump’s tariffs – CBS News Watch CBS News New evidence shows that President Trump’s tariff policies are shaking up global trade. Imports of foreign goods plunged about 16% in April, the largest one-month drop on record. Nancy Chen dives into how the toy business is being impacted. Be the…
Basic universal income: Testing a weapon against economic insecurity – CBS News Watch CBS News Even if your job isn’t being replaced by a robot, there is plenty of economic insecurity today, with many people just one paycheck away from disaster. To fight economic hardship, the City of Stockton, Calif., is launching a pilot program…
Alaska Airlines is canceling more than a dozen flights a day as tariffs hinder its ability to accept delivery of new aircraft, according to the carrier. The Seattle, Washington-based airline said it wouldn’t immediately accept delivery of two Embraer 175 regional jets in order to avoid incurring the extra tariff-related costs. The aircraft were meant to…
Implications of Trump, Musk fallout What are the potential implications of the fallout between President Trump and Elon Musk? 02:14 Tesla’s stock price rose in morning trade, regaining some of the ground it lost after an acrimonious online dispute between Elon Musk, CEO of the electric car maker, and President Trump. Tesla shares closed down…
The enthusiastic Steve Ballmer – CBS News Watch CBS News In 2014 Steve Ballmer, who ranks as one of the wealthiest people in the world, bought the Los Angeles Clippers, and is today their most enthusiastic fan. It’s just one of the areas the former Microsoft CEO is devoting his micro-managed time, another being the…
Initial claims for U.S. unemployment benefits last week rose to their highest level in eight months, a sign the labor market might be losing steam as concerns over tariffs take hold of U.S. businesses and consumers. New applications for jobless benefits in the week ending May 31 reached 247,000, up 8,000 from the week prior,…
Dinner at the Gomez home outside Boston provides a textbook image of the sandwich generation: three sets of relatives living under one roof. “A club sandwich has a lot of layers, and we have a lot of layers,” 57-year-old Alicia Gomez said. It’s not the easiest way to save for retirement, as Gomez and her…
The Trump administration raised tariffs on aluminum and steel to 50% today, a move experts say could increase costs on everything from homes and cars to household and office supplies. While the U.S. has carved out its own niche in domestic metals manufacturing, it also relies on imports from abroad to fill in the gaps:…
McDonald’s Snack Wrap, a gone-but-not-forgotten customer favorite, is returning to the fast-food chain’s restaurants in the U.S. after a nine-year hiatus. The popular sandwich will reappear on menus starting July 10, 2025, according to an announcement by the company on Tuesday in which Joe Erlinger, president of McDonald’s USA, stated simply, “It’s back.” Consisting of a white-flour…
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