Business

General Motors (GM) said Wednesday it is laying off 1,750 workers indefinitely in the coming months and temporarily cutting 1,670 others as it scales back electric vehicle production. The Detroit-based automaker said it is scaling back production plans and realigning electric vehicle capacity at Factory Zero, its flagship electric vehicle assembly plant in Michigan, in response to the slower near-term electic vehicle adoption and an evolving regulatory environment. In a regulatory filing […]

There is growing concern among today's workforce that they will be swiftly replaced by artificial intelligence as the technology, which has touched nearly every corner of the economy, continues to advance.But experts argue that the adoption of the technology won't be the same across all industries, meaning not every job will be impacted the same way, according to the World Economic Forum. To better characterize the situation, the organization likened […]

California’s wealthiest residents could face a one-time 5% tax on their net worth under a new proposal aimed at replacing billions of dollars in federal funding cuts to healthcare.The measure – called the "2026 Billionaire Tax Act" – seeks to counter $30 billion in potential federal funding cuts to California's Medicaid program, with a portion of the revenue earmarked for public education, according to supporters, which include the Service Employees […]

This story discusses suicide. If you or someone you know is having thoughts of suicide, please contact the Suicide & Crisis Lifeline at 988 or 1-800-273-TALK (8255).Efforts to safeguard children from harmful content and online predators continue to grow, as regulators and lawmakers say companies – from social media networks to gaming platforms — have failed to protect minors from grooming, exploitation and exposure to inappropriate material.The debate has sparked […]

President Donald Trump and Chinese President Xi Jinping will kick off high-stakes talks amid their ongoing trade dispute and geopolitical tensions.Trump and Xi are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea, in their first in-person meeting since Trump's first term. The meeting is expected to begin in the morning hours on Thursday, Wednesday night in the U.S.Trump has expressed optimism about […]

President Donald Trump said South Korea will pay $350 billion to reduce U.S. tariffs and invest $600 billion in American energy and business. In a Truth Social post Wednesday, he added that he approved Seoul’s plan to build nuclear-powered submarines as part of what he called a stronger military alliance.Trump wrote on Truth Social, "South Korea has agreed to pay the USA 350 Billion Dollars for a lowering of the […]

I certainly hope a supply-sider will run the Fed. As Art Laffer has said again and again, tax something less and you get more of it. Tax something more and you get less of it. This applies to work and investment. And growth. And production. Wait a minute, if you produce more goods, that lowers prices. Supply-siders understand that tax incentives generate faster growth at lower inflation. And the Fed has never […]

Federal Reserve Chairman Jerome Powell said Wednesday it remains unclear whether the ongoing government shutdown and the resulting lack of key economic data will affect the central bank’s December meeting.With key indicators still missing due to the shutdown, Powell said the Fed will proceed carefully until it has a clearer view of the economy."If you’re driving in the fog, you slow down," he said at the conclusion of the two-day […]

The Federal Reserve on Wednesday announced its second interest rate cut of this year as policymakers moved to support the labor market despite inflation remaining above the central bank's target.Fed policymakers voted to lower the benchmark federal funds rate by 25 basis points to a new range of 3.75% to 4%. The move follows a rate cut of that size in September, which was the first reduction this year.Policymakers have been […]