Luxury spending now driven by experiences and ‘inheritourism’
While luxury goods sales are expected to grow between 1% and 4%, experiences are on track for growth of between 3% and 7% this year, according to a new report.
U.S. judge blocks Trump’s mail-in voting executive order
The order followed Trump’s years-long effort to undermine faith in U.S. elections, including the false claim that his 2020 loss was the result of voter fraud.
GM reveals 2027 GMC Sierra pickup with new V-8 engines, redesigned styling
The new GMC Sierra trucks are crucial to GM’s sales and earnings, especially highly profitable luxury Denali and off-road AT4 models.
Bayer wins Supreme Court case making it harder to sue over glyphosate in Monsanto’s Roundup
Glyphosate, used in Roundup weedkiller, is the most commonly used weedkiller in agriculture, and it has long been linked to cancer claims.
Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rules
The Fed’s annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.
Trump meets defense CEOs as Iran operations strain U.S. missile stockpiles
The White House is pressing major defense firms to expand missile and munitions output as Iran talks and weapons stockpile concerns put new pressure on the Pentagon’s industrial base.
JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress test
The announcements followed the release of the Federal Reserve’s annual stress test, which found that all 32 large banks weathered a hypothetical recession.
White House requests $87.6 billion supplemental spending for Iran war, farm aid
White House Office of Management and Budget Director Russell Vought asked House Speaker Mike Johnson for billions in extra spending for the Iran war.
Trump cancels signing of bipartisan housing bill, demanding voter-ID provision
President Donald Trump on Wednesday canceled via TruthSocial a scheduled Capitol Hill signing of a landmark bipartisan housing bill that leaders in both parties had heralded as a win. Read more Chief of staff to former NYC Mayor Eric Adams arrested in federal bribery probe, AP source says “Today’s Housing News Conference and Signing is […]
Trump claims Iran has assured U.S. there won’t be tolls on the Strait of Hormuz
There will be no tolls, insurance costs, or charges of any kind for ships looking to pass through the Strait of Hormuz, Trump said.