President Joe Biden visited a picket line of striking auto workers in a show of support for organized labor and encouraged them to continue fighting for better wages, stating that they deserve the significant raise they are demanding.
Stocks tumbled as economic data raised concerns about the US economy's future and the Federal Reserve's interest rate hikes.
The Advanced Research Projects Agency for Health (ARPA-H) will establish one of its three headquarters in Dallas, Texas, as part of an effort by the Biden Administration to accelerate biomedical and health research, solidifying North Texas' position as a major life sciences hub.
Gatwick Airport is limiting flights this week due to an outbreak of COVID-19 among air traffic control staff, with a daily cap of 800 flights imposed until Sunday to prevent cancellations and delays.
Despite steep mortgage rates, home prices in the U.S. rose for the sixth consecutive month in July, with a 0.6% increase nationally and a 1% increase from the peak in June 2022, according to the S&P CoreLogic Case-Shiller index. There were regional differences, with Chicago experiencing the highest annual gain at 4.4% and Las Vegas and San Francisco seeing notable price declines of 7.2% and 6.2% respectively. The housing market continues to face challenges due to low inventory and high mortgage rates.
Minneapolis Federal Reserve President Neel Kashkari believes there is a 50% chance that interest rates will need to significantly increase in order to combat inflation, citing a strong case for the U.S. economy heading towards a "high-pressure equilibrium."
Rite Aid is expected to close hundreds of locations nationwide as it files for Chapter 11 bankruptcy and faces numerous opioid-related lawsuits.
Stocks fell on Tuesday as Wall Street grappled with the possibility of the Federal Reserve maintaining higher interest rates, while consumer confidence declined for the second consecutive month, reaching its lowest levels since May.
President Joe Biden is set to join United Auto Workers in Wayne County, Michigan, amid low polling numbers on economic issues, a looming government shutdown, and a visit from former President Donald Trump in an effort to avoid economic consequences as he tries to convince voters his economic policies are working.
The Biden administration has proposed a measure that would prevent unpaid medical bills from appearing on Americans' credit reports, aiming to end coercive debt collection tactics and improve credit score predictiveness.
European Union antitrust enforcers have imposed a $400 million fine on Intel in a long-running legal battle over allegations of using illegal sales tactics to exclude rival AMD, despite a previous victory for the chipmaker.
Brightline, a high-speed rail service in Florida, has officially launched its passenger service to and from Orlando International Airport, providing a convenient and comfortable alternative to driving or flying within the state.
New York City is deploying a police robot, named K-5, to patrol the busy subway station overnight at a cost of $9 an hour, with the aim of using existing technology to enhance public safety.
Instacart stock is trading close to its IPO price as investors sell off and analysts express concern over competition and sluggish growth.
Lachlan Murdoch has officially assumed sole chairmanship of Fox and News Corp, but questions remain regarding the future of the companies as other family members possess the power to potentially out-vote him and make decisions such as selling Fox or putting the company up for auction.
Short-term CDs with high interest rates are becoming popular among savers looking to grow their savings while maintaining flexibility, and some of the best 6-month CD rates in 2023 can be found at banks such as Merrick Bank (5.50% APY), Bank5 Connect (5.50% APY), and Bask Bank (5.25% APY).
New York City Mayor Eric Adams unveils an autonomous robot, called K5, that will patrol one of the city's busiest subway stations, capturing video footage and allowing passersby to connect with the police department, despite concerns from civil rights advocates about transparency and privacy.
The presence of foreign automakers in the southern United States has been driven by the region's union opposition and the financial incentives offered, but a successful United Auto Workers (UAW) strike could lead to pay raises and make the UAW more attractive, causing concern for foreign automakers who have chosen the South as their manufacturing base.
Japanese private equity firm Japan Industrial Partners (JIP) successfully completes a $14 billion tender offer to acquire Toshiba, allowing the industrial conglomerate to go private and putting it in domestic hands.
Despite expanding its strike against GM and Stellantis, the United Auto Workers (UAW) union has decided not to expand the number of Ford workers on strike due to progress in negotiations with Ford.
If the Japanese yen weakens beyond 150 to the dollar, the Bank of Japan could be forced to hike rates sooner than expected, which may lead to the unwinding of the yen carry trade and a return of Japanese capital to domestic bond markets, potentially triggering market volatility.
The US Postal Service will resume shipping free COVID-19 tests to homes across the country, made possible by a $600 million investment from the White House, as COVID cases continue to rise and winter approaches.
The FDA has rejected the approval of Neffy, an epinephrine nasal spray, due to the need for more trial data, delaying the availability of a needle-free option for treating severe allergic reactions.
Elon Musk's Neuralink is recruiting candidates for its first human clinical trials to test their brain chips on individuals with quadriplegia due to spinal cord injuries or ALS, aiming to grant them the ability to control a computer cursor or keyboard using their thoughts alone.
Oil prices reached their highest point in over a year due to concerns over potential supply shortages from planned production cuts.
The United Auto Workers (UAW) made a new counter-proposal to Chrysler-parent Stellantis just one day before the planned strike, as talks between the union and the Detroit Three automakers continue with significant disagreements over key issues such as pay increases and compensation for electric vehicle workers.
United Airlines is introducing new programs to enhance accessibility for wheelchair users, including a digital filter on their website to prioritize flights that can accommodate wheelchairs and a pilot program to address issues with lost or damaged wheelchairs.
AGCO Corporation, a global manufacturer of agricultural machinery, has entered into a joint venture with Trimble to acquire an 85% interest in Trimble's portfolio of agricultural assets and technologies, creating a leading mixed-fleet Precision Ag platform.
Amazon Prime members can score early furniture deals of up to 65% off popular brands like Ashley Furniture, Serta, and Walker Edison ahead of the October Prime Big Deal Days sale.
Apple has asked the Supreme Court to reconsider a previous ruling that would require it to allow app developers to direct users to alternative payment options in the App Store, arguing that the ruling is overly broad and would apply to all app makers, not just Epic Games.
Honda has unveiled the Prologue, its first 100% electric SUV co-developed with General Motors, with pre-sales starting later this year and an expected starting price in the upper $40,000s and a range of 300 miles.
Software maker Workday (WDAY) saw its stock plummet more than 8% after lowering its outlook for subscription revenue growth through fiscal 2027 at an analyst day.
CarMax shares plunged after the company reported a 13% decline in quarterly revenue compared to the previous year.
JPMorgan retail analyst predicts challenges for lower to middle-class consumers due to increasing mortgage rates, credit card debt, stagnant wages, and declining apparel trade, while banks face uncertainty in the commercial real estate sector; JPMorgan reduces price target on Netflix ahead of earnings, UBS issues a buy rating for Trade Desk, Workday shares plummet after weak Investor Day details, Bank of America lowers price target on Advance Auto Parts, TD Cowen initiates coverage on Diageo, TD Cowen reduces price target on Walgreens Boots Alliance, Paychex receives multiple price target increases, JPMorgan raises price target on Take-Two Interactive, and Barclays cuts price target on United Parcel Service.
A player in San Jose won $796,425 by matching five out of six numbers in the Powerball Jackpot.
Consumer spending in the US grew at a weaker pace than previously estimated in the second quarter, indicating that Americans have been cutting back on their spending more than expected.
Millions of people were affected by the recall of Philips Respironics breathing machines due to a foam defect that can release dangerous chemicals, prompting concerns about health risks and delays in the replacement process.
Investors are concerned about the recent stock market decline due to surging oil prices, rising bond yields, and worries about economic growth, leading to a sell-off even in major tech companies and potentially impacting President Biden's approval ratings.
An 85-year-old woman is suing McDonald's after she experienced burns from spilled coffee, similar to the famous 1994 case, and hopes to get her medical bills reimbursed and prevent future incidents.
Volkswagen has resolved a major IT outage that caused production to halt at its German plants, with the incident highlighting the vulnerability of network infrastructure at Europe's largest carmaker.