Business

Mortgage rates increased for the third straight week and continue to hover near the 7% level, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage rose to 6.89% from last week's reading of 6.86%. It marked the highest level since Feb. 6, when the rate on a 30-year mortgage also averaged 6.89%.The average rate […]

The White House said the Trump administration is facing "another example of judicial overreach" after the U.S. Court of International Trade ruled Wednesday that President Donald Trump exceeded his authority with tariffs issued under the International Emergency Economic Powers Act (IEEPA). Press Secretary Karoline Leavitt told reporters that "America cannot function if President Trump or any other president, for that matter, has their sensitive, diplomatic or trade negotiations railroaded by activist […]

White House National Economic Council Director Kevin Hassett exerted confidence in the Trump administration’s ability to get tariff legalities overturned, adding that three alleged trade deals are awaiting the president’s signature."Trump does always win these negotiations, because we're right," Hassett said on "Mornings with Maria," Thursday. "We're right that America has been mishandled by other governments, that our tariffs are taking them to the table.""It's unfortunate that people would attack […]

Federal Reserve Chair Jerome Powell on Thursday met with President Donald Trump at the White House for the first time in the president's second term."At the President's invitation, Chair Powell met with the President today at the White House to discuss economic developments including for growth, employment and inflation," the Fed said in a statement. "Chair Powell did not discuss his expectations for monetary policy, except to stress that the path of […]

United Airlines and JetBlue Airways announced on Thursday a new partnership that gives customers the ability to earn and use loyalty program points and miles across the two airlines.The carriers touted the partnership, dubbed Blue Sky, as a move that "gives customers of both carriers even more options to find flights that fit their plans as well as new opportunities to earn and use Mileage Plus miles and TrueBlue points […]

The number of Americans filing new applications for unemployment benefits increased more than expected last week, while the jobless rate appeared to have picked up in May as labor market conditions continue to ease.Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 240,000 for the week ended May 24, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 claims for the latest week.Worker […]

E.l.f. Beauty recently signed a definitive agreement to acquire celebrity skincare brand Rhode, founded by Hailey Bieber, in a $1 billion megadeal.The agreement includes $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe."e.l.f. Beauty found a like-minded disruptor in rhode," […]

Tech giant Nvidia reported its first-quarter earnings on Wednesday, beating analysts' expectations, though it projected second-quarter sales below estimates amid tightening export controls to China that cover some of its AI chips.Nvidia, a leader in the artificial intelligence (AI) space, saw shares rise 3% in after-hours trading following the announcement. The earnings report showed that first-quarter net income was up 26% from a year ago at nearly $19 billion, with […]

American lobsters could get shipped to the European Union (EU) tariff-free amid the U.S. and the EU’s ongoing discussions on trade. The U.S. and EU have been negotiating a deal to address tariffs and, according to the Financial Times, the European Commission is amenable to including such a measure in it. The trade talks between the U.S. and EU commenced after the Trump administration implemented tariffs on the EU as well as other […]