Finance
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Everyday Economics: Fiscal reality meets Central Bank caution in week ahead
At Davos, Citadel CEO Ken Griffin pointed to Japan's bond selloff – where super-long yields surged and 40-year yields hit record highs – as an "explicit warning" about what happens when investors start to doubt a government's fiscal trajectory.
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Trump administration strikes $250 billion trade deal with Taiwan in midst of tech battle with China
The deal directs Taiwanese semiconductor and technology companies to directly invest at least $250 billion in building and expanding advanced semiconductor, energy, and artificial intelligence production and innovation capacity in the United States.
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Saks files for bankruptcy after multibillion-dollar acquisition
"The path ahead presents a meaningful opportunity to strengthen the foundation of our business and position it for the future," Geoffroy van Raemdonck said
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Media giant Warner Bros. Discovery puts itself up for sale
Company valued at over $45 billion ahead of announcement
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Elon Musk becomes first person in history to be worth over $500 billion
Musk, the richest man in the world, is now worth an estimated $150 billion more than the world's second-richest man, Oracle co-founder and chief technology officer Larry Ellison.
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Senate confirms Stephen Miran's nomination to serve on Federal Reserve board
Miran's confirmation, which passed primarily in a party-line 48-47 split, comes ahead of a two-day meeting where the board is expected to consider lowering interest rates. The meeting begins on Tuesday.
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Apple won't raise price of next-gen devices despite tariffs
Apple follows Google's lead, holding prices steady for next wave of products
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Treasury Secretary Scott Bessent calls for review of Federal Reserve
Bessent argued that the core missions of the banking system are promoting full employment, stable prices and moderate long-term interest rates and that it has been distracted from these missions.
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Congressional Budget Office says Trump tariffs will reduce deficits by $4 trillion over next decade
The number is an increase from the budget office's previous prediction in June, which found that it would reduce federal deficits by $2.8 trillion over the next decade.
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Commerce Sec Howard Lutnick signals Intel deal has been completed: US 'now owns 10%' of company
Lutnick said the agreement is beneficial to both parties but no details on the arrangement have been released so far.
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Treasury Department confirms US has surpassed $37 trillion in debt
The United States reportedly reached $34 trillion in debt in January 2024, $35 trillion in July 2024, and $36 trillion in November.
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Jamie Dimon appears less skeptical of new Trump tariffs: 'So far, so good'
The comments occurred the same day Trump revealed the latest tariff rates on over 70 countries, which included 35% tariffs on Canadian goods and 10% for the United Kingdom.
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Over 100 LA County lifeguards earn $500K annually, watchdog report
Los Angeles is ranked the 25th most expensive U.S. city, with a medium household income of $82,848, compared to the national average of $79,466.