US suggests possibility of penalties if production of Chinese electric vehicles moves to Mexico
The Biden administration is suggesting the possibility that new penalties could be put in place if the Chinese makers of electric vehicles try to move their production to Mexico to avoid newly announced import taxes.
Fed's Powell downplays potential for a rate hike despite higher price pressures
Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again.
New Builders initiative looks to fight polarization by encouraging collaboration and alliances
A coalition that includes entrepreneur and philanthropist Daniel Lubetzky, actor Liev Schreiber, journalist Katie Couric, and director of the Muhammad Ali Center Lonnie Ali announced Tuesday that it would launch Builders, a nonprofit global initiative aimed at reducing polarization while encouraging people to work together to find solutions they can all support.
Home Depot's sales continue to soften in 2024 as inflation, delayed start to spring weigh on sales
Home Depotโs sales continued to soften in the first quarter as the nationโs largest home improvement retailer not only was constrained by high mortgage rates and customers dealing with inflation concerns, but it also had to deal with a delayed start to spring.
Biden hikes tariffs on Chinese EVs, solar cells, steel, aluminum โ and snipes at Trump
President Joe Biden says in defending his new tariffs on Chinese products that China's government subsidies ensure its companies donโt have to turn a profit, giving them an unfair advantage in global trade.
Australian judge says it is unreasonable to require X to hide video of church stabbing for all users
An Australian judge says it would be unreasonable for the countryโs internet safety watchdog to require social platform X to hide video of a bishop being stabbed in a Sydney church from all of its users around the world.
Biden blocks Chinese-backed crypto mining firm from land ownership near Wyoming missile base
President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a โnational security risk.โ.
Are US interest rates high enough to beat inflation? The Fed will take its time to find out
The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.
Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower
A report by The New York Times and ProPublica says former President Donald Trump may face an IRS bill in excess of $100 million after a government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper.
Film academy launches $500M fundraising campaign ahead of 100th Oscar anniversary
The Academy of Motion Picture Arts and Sciences announced a $500 million fundraising campaign Friday to ensure long-term, global support for its Oscar prizes, museum, educational programming and screenings in view of its 100th anniversary in 2028.
Australian judge extends ban on X sharing video of Sydney bishop's stabbing
An Australian judge has extended a ban on social media platform X allowing videos of the stabbing of a Sydney bishop in his church last month after government lawyers condemned the company's free speech argument for keeping the graphic images circulating.
Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation
The Bank of England is keeping its main U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target.