Economy - Page 3

New York City Mayor Zohran Mamdani touted the fulfillment of one of his campaign promises Friday after the Independent Rent Guidelines Board approved a rent freeze, saying more than two million New Yorkers living in rent-stabilized apartments will have their rent frozen next year.

Saudi Arabia’s national oil company Aramco began loading cargoes of crude oil at its massive Ras Tanura terminal on Friday.

Elon Musk’s SpaceX may pursue an acquisition of T-Mobile if it cannot secure a wholesale network agreement to fuel its expansion of Starlink into the consumer mobile industry, according to an analyst.

Georgia is reportedly struggling to meet the growing water demands of AI data centers, as Atlanta planners urge operators to prioritize community needs and reduce consumption — even as water usage varies widely across facilities.

On Thursday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Sean Casten (D-IL) responded to Sen. Chris Murphy’s (D-CT) proposal to raise the minimum wage to $25 an hour by saying that “I’m delighted that Sen. Murphy is talking about this

An important test of economic policy is the ability of an economy to withstand a negative shock. This spring, the U.S. economy passed the test with honors.

American citizens in Springfield, Ohio are rejoicing after the Supreme Court allowed President Donald Trump to cancel the quasi-amnesty Temporary Protected Status (TPS) granted to the city’s huge population of Haitian migrants despite strong opposition from local and national business groups.

Ford is acknowledging the challenges it faced with AI production and design systems after the automaker recently claimed the top spot in JD Power’s initial quality ranking for mainstream brands for the first time in 16 years. According to Ford, attempting to replace highly-skilled employees with AI-powered systems was a mistake.

Ferrari’s long-serving head of marketing has announced his departure from the luxury automaker just weeks after the unveiling of the company’s first electric vehicle sparked widespread criticism.

In a 6-3 vote, the U.S. Supreme Court has endorsed President Donald Trump’s authority to end “Temporary Protected Status” for at least 450,000 Haitian migrants welcomed by President Joe Biden.

Two prominent Google AI researchers are just the latest experts preparing to depart for rival artificial intelligence Anthropic, according to individuals familiar with the situation. They join a roster of prominent AI names who have left Google for greener pastures this year.

The American factory revival continues.

The U.S. Supreme Court has declared that the President can regulate asylum requests at the U.S. border. 

The U.S. economy grew at a significantly swifter pace than previously estimated during the first three months of the year. Gross domestic product, the government’s broad economic scorecard, rose at a 2.1 percent annual rate in the January through March

The personal consumption expenditures price index climbed 4.1 percent last month from a year earlier, the largest year-over-year price increase since April 2023. Compared with the prior month, prices rose 0.4 percent.

Europe is quickly learning that China has no interest in addressing unsustainable trade imbalances.

“Democrats imported a new electorate, and that electorate is remaking Congress,” White House aide Stephen Miller tweeted Tuesday night. 

Mark Zuckerberg has reportedly directed Meta to build a prediction market app that would compete with rapidly growing gambling sites like Polymarket and Kalshi.

Thirty-three percent of Americans — and 54 percent of Trump voters — say legalized immigration should be reduced or zeroed out, according to a poll for a globalist magazine.

President Donald Trump canceled a scheduled signing ceremony of the 21st Century ROAD to Housing Act at the Capitol on Wednesday until the Senate passes the SAVE America Act.

The U.S. Congress Joint Economic Committee holds a hearing investigating health care fraud on Wednesday, June 24.

Treasury Secretary Scott Bessent on Tuesday laid out a doctrine of “economic statecraft,” telling the Economic Club of New York that the United States would wield its economic power “in service of our sovereignty” and warning that a country unable

Sales of new homes in the U.S. plunged in May, falling to the lowest level since the start of the year, as high prices and rising mortgage rates pushed away buyers. Single-family home sales fell by 7.3 percent to an

The founder of one of China’s largest ecommerce companies has issued a stark warning that its entire delivery workforce of 700,000 people will ultimately be displaced by robotic automation. This replacement of the gig economy with robots, if successful, will spread around the world.

SoftBank founder and CEO Masayoshi Son told shareholders on Wednesday that artificial intelligence remains in its early stages and any suggestion of a market bubble constitutes a “blasphemy against AI,” adding religious significance to SoftBank’s massive investments in AI companies like Sam Altman’s OpenAI.

UPS is planning to cut 525 jobs in Belgium, more than half of its entire workforce in the country, the Christian trade Union ACV denounced to local outlets.

On Tuesday’s broadcast of Bloomberg’s “Balance of Power,” Sen. Roger Marshall (R-KS) said that even if Iran does end up buying billions of dollars of American food, “we’re going to still have to help the farmers out” with some sort

President Donald Trump on Tuesday touted a recent 60-cent fall in gas prices as traffic continues to flow in the Strait of Hormuz on the heels of the Iran war.

The dirtiest little secret inside the gilded menagerie of monetary policy is that Kevin Warsh’s supposedly radical new approach to central bank communications is far more conventional and not as new as it seems.

President Donald Trump’s migration curbs are reducing the rents paid by Americans for their housing, says the White House. 

Maritime intelligence firm Kpler says a total of 172 ships have passed through the Strait of Hormuz since last week.

The “freedom” to stop the heartbeat of an unborn child equals “economic freedom,” Melat Kiros, a socialist congressional candidate in Colorado, suggests in her campaign platform, ironically nailing precisely what critics have said modern day feminism now stands for.

President Donald Trump delivers remarks on affordability issues Americans are dealing with on Tuesday, June 23.