Business

The Supreme Court ruling that struck down the Trump administration's tariffs imposed under an economic emergency declaration could open the door to billions of dollars in tariff refunds for businesses, though the ruling didn't specify a process for handling those refunds.The Supreme Court ruled that President Donald Trump's tariffs enacted under the International Economic Emergency Powers Act (IEEPA) were illegal because the underlying law doesn't authorize the president to impose tariffs.Striking down […]

More than 5,000 deadly work injuries were recorded in the U.S. in 2024, according to the U.S. Bureau of Labor Statistics, with truck drivers and construction trades workers accounting for a large proportion."There were 5,070 fatal work injuries recorded in the United States in 2024, down 4.0 percent from 5,283 in 2023," the BLS revealed on Thursday.The data notes 1,018 fatal occupational injuries involving motor vehicle operators in 2024, including […]

The Supreme Court dealt a blow to President Donald Trump’s trade agenda on Friday, siding against him in a case challenging the legality of tariffs that have shaped global markets and U.S. supply chains.By a 6–3 vote, the majority concluded that the law cited to justify the import duties "does not authorize the President to impose tariffs." Chief Justice John Roberts delivered the opinion of the court. Justices Clarence Thomas, […]

One of the most acclaimed and successful American filmmakers in history has left California for New York. Steven Spielberg and his wife, Kate Capshaw, officially became New York residents on Jan. 1, according to a report by the Los Angeles Times. The couple relocated to the San Remo co-op on Central Park West in Manhattan, which has previously housed celebrities including Bono, Mick Jagger, Warren Beatty and Tiger Woods.On the same […]

The U.S. economy grew at a much slower than expected pace in the fourth quarter, according to new data released on Wednesday.The Commerce Department's Bureau of Economic Analysis (BEA) released its advance estimate for fourth quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 1.4% in the fourth quarter, which runs from October through December.Economists surveyed by LSEG had expected the economy to […]

The Federal Reserve's preferred inflation gauge remained elevated in December as price pressures continued to pose a challenge for consumers.The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.4% in December on a monthly basis and is up 2.9% from a year ago. Those figures were both slightly hotter than the estimate of LSEG economists, who predicted 0.3% and 2.8%, respectively.Core PCE, which excludes volatile measurements of […]

Three Silicon Valley engineers were arrested and charged with stealing trade secrets from Google and other U.S. technology firms and transferring sensitive data to unauthorized locations, including Iran, federal prosecutors announced Thursday.Samaneh Ghandali, 41, Soroor Ghandali, 32, and Mohammadjavad Khosravi, also known as Mohammad Khosravi, 40, all of San Jose, were arrested Thursday, according to the Department of Justice (DOJ).A federal grand jury indicted the engineers on charges of conspiracy […]

A new analysis found that payments made by U.S.-based midsize businesses to firms in China dropped significantly last year as tariffs on Chinese imports rose under the Trump administration.The JPMorgan Chase Institute released a report Thursday that found payments made by midsize firms to China declined significantly, falling by about 20% from 2024 to 2025 even as overall international payments remained steady."This is perhaps not surprising, as China has been the […]

Amazon’s latest wave of layoffs has reportedly hit New York, with hundreds of employees losing their jobs.Roughly 135 corporate employees at Amazon’s 1440 Broadway office in Manhattan were laid off in January, according to the New York Post, citing a filing submitted to the New York State Department of Labor.More than 100 other New York-based employees were also let go, the outlet reported, citing a source who said additional filings […]