Business

Often unmarked and hidden from commercial tracking systems, a growing fleet of "ghost ships" is quietly delivering sanctioned Russian oil to ports in China and India — intensifying tensions with Washington as high-stakes trade negotiations unfold with both countries.President Donald Trump said Wednesday India has agreed to stop the practice of purchasing discounted Russian crude and re-exporting refined oil products on the global market, a tactic that props up Moscow’s […]

Treasury Secretary Scott Bessent on Wednesday said the ongoing government shutdown could be costing the U.S. economy billions of dollars per day.Bessent said at a news conference the partial government shutdown is "starting to cut into muscle here" as the shutdown continues into its third week."We believe that this shutdown may start costing the U.S. economy up to $15 billion a day," Bessent said. The Treasury Department later clarified that he meant […]

The average cost of gasoline nationwide is hovering near the $3 mark and could soon dip below it, some industry experts say.The national average stood at around $3.07 per gallon as of Wednesday, down around 10 cents from a month ago and nearly 15 cents from a year ago, according to AAA. "Americans appear to be on the cusp of seeing the national average drop below $3.00 per gallon and potentially […]

A pilotless taxi developed in China that can fly more than 100 miles on a single charge launched this week.EHang Holdings introduced the VT35 on Monday in Hefei, Anhui Province. The taxi is part of EHang’s line of long-range, pilotless electric vertical takeoff and landing (eVTOL) aircraft."It [the car] is engineered to transform intercity aerial travel into a safe, routine, and efficient transportation experience," the company said in a news […]

Outdoor retailer Recreational Equipment, Inc. (REI) reportedly plans to close three of its U.S. stores next year.The closures will affect REI locations across the Northeast, including Paramus, New Jersey, during the first three months of 2026, as well as in Boston and its flagship SoHo locaftion in New York City toward the end of that year, USA Today reported."We are deeply grateful to our teams, our members and customers, and […]

The long and the short of the U.S.-China fisticuffs is that no trade barriers are coming down, and no new trade openings are popping up. China has gone rogue by putting export controls for rare earths and other commodities on the entire world. And of course, the U.S. has got to punch back. Scott Bessent is right, China is a command-and-control economy, and our allies will neither be commanded nor […]

New York City mayoral candidate Zohran Mamdani is standing by his proposal to raise taxes on the city’s wealthiest residents and corporations to fund free buses and universal childcare.Under Mamdani’s plan, the personal income tax rate on the city's wealthiest 1% would rise by 2 percentage points, while the corporate tax rate would increase to match New Jersey’s 11.5% rate, he told Martha MacCallum on Wednesday on Fox News' "The […]

Stellantis, the parent of Chrysler, Jeep and Ram, unveiled plans on Tuesday to invest $13 billion to boost its U.S. domestic manufacturing footprint over the next four years.This marks the largest single investment in the automaker's history and will support the introduction of five new vehicles across the brand portfolio in key segments, the production of the all-new four-cylinder engine, as well as fund more than 5,000 additional jobs at […]

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer spoke on Wednesday about what they refer to as a "global power grab" by China.The Trump administration officials held a press conference during which they said they are "constantly focused on the Chinese chokehold on the world of rare earth and rare earth materials."Bessent insisted that Washington did not want to escalate a trade conflict with China, stressing that President […]