New Social Security bill would lower retirement age to 60 for some workers
Rep. Haley Stevens, D-Mich., on Wednesday introduced a new bill that would lower Social Security's full retirement age for workers in physically demanding jobs.
Markets
Market sees next Fed hike in October, following Barr comments and hot inflation reading
An October interest rate hike is very much on the table after a top Federal Reserve official Wednesday expressed support for one, and as fresh economic readings showed intensifying inflation pressures.
McDonald's CEO expects high inflation, flat traffic are not going away for restaurant industry
McDonald's CEO Chris Kempczinski said that he expects that high inflation and flat traffic will continue to weigh on the restaurant industry.
10-year Treasury yield leaps to fresh 19-year high after hot economic readings
Treasury yields raced higher on Wednesday as new services and manufacturing sector data increased worry of further Federal Reserve rate hikes.
Trump faces Xi as strains with allies complicate U.S. pressure on China
As Trump prepares to meet Xi, strains with U.S. allies are complicating Washington’s efforts to marshal pressure against an increasingly resilient China.
McDonald's will spend big on restaurant upgrades, training to drive growth
The plans are part of the fast-food giant's new growth strategy, called McDonald's > NEXT.
Indian billionaire’s payments firm plots biggest London flotation in years
A payments business that operates across Africa and is ultimately controlled by an Indian billionaire has announced its intention to float on the struggling London Stock Exchange.
IonQ shares rise after company says it made a major quantum computing breakthrough
Shares of quantum computing company IonQ surged in premarket trading following its successful test of the industry's first real time end-to-end error decoder.
A diesel export ban could backfire — here’s why
A ban on U.S. diesel exports could reduce supplies and simultaneously lead to prices rising further, according to analysts.
Iran's president blames U.S., Israel for global instability in defiant UN speech
Pezeshkian began his address to the UN General Assembly in New York City by holding up photos of children he said were killed by U.S. and Israeli bombs.
Cotton Slipping to Start Wednesday Trade
Cotton is showing 40 to 50 point gains on Wednesday morning. Futures closed out the Tuesday session with contracts down 16 to 55 points across the board. Crude oil was down 57 cents per barrel on the session, with the U…
UK economic outlook brighter as new government measures will boost growth, says OECD – business live
Oil prices fall for a sixth day in their longest losing streak in over a year, as Saudi Arabia reportedly restarts its east-west pipeline and amid hopes for progress in US-Iran talks
Zelenskyy says Ukraine ready for ‘energy ceasefire’, calls for trilateral meeting with Putin, Trump
Ukrainian President Volodymyr Zelenskyy has called on U.S. President Donald Trump to organize a trilateral meeting with Russian President Vladimir Putin, saying the world leaders need to move "as quickly as possible" to…
AI drone maker hits $6.4 billion valuation as Ukraine war spurs defense tech
AI drone maker Tekever on Wednesday said it had hit a $6.4 billion valuation, as Europe races to rearm amid the Ukraine war and mounting threats from Russia.
Never Have Stocks Owed So Much to So Few
In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person …
Nearly 10% of borrowers opted for riskier mortgages last week, as rates soared over 7%
Mortgage rates soared to the highest level since 2024 last week, causing loan demand to fall back again and more borrowers to opt for riskier loans. Total application volume decreased 1.5% from the previous week, accord…
Trump-Xi summit puts AI safety talks on the table but neither side wants to slow down
Donald Trump wants the U.S. to beat China in the AI race. But as he meets Chinese President Xi Jinping, both countries are also weighing how to address the risks posed by rapidly advancing technology.
Iran says Trump’s threats a sign of ‘strategic desperation,’ floats conditions for Hormuz reopening
Iran's military on Wednesday described U.S. President Donald Trump's threats to annihilate Tehran as "a sign of strategic desperation," warning the country stands ready to inflict strikes "more crushing" than earlier in…
Oil Slips for a 5th Day as Nasdaq Rips in FOMO Fashion
Tuesday offered enough relief on that front. But the bigger point is still in plain sight: oil remains roughly 50% higher than a year ago, and nearly half of the US inflation overshoot can be traced to elevated energy a…
Fed's Collins warns inflation could be 'notably' higher after backing rate hike
Boston Federal Reserve President Susan Collins has warned that there is "an increased likelihood" that inflation will stay "notably" above the Federal Reserve's 2% target.
DOJ defends Trump ban of 3 news outlets, says White House access is a 'privilege — not a right'
The U.S. Department of Justice late Tuesday evening urged a federal judge not to block President Donald Trump's total ban of three news outlets from the White House, saying, "Access to the White House is a privilege — n…
Spain shares higher at close of trade; IBEX 35 up 0.41%
U.S. equities traded higher on Friday, led by a 100-point gain in the Dow Jones Industrial Average. The broader market showed mixed signals as technology stocks slipped while communication services rallied.
Semiconductor Rally Faces Crosscurrents From FX and Credit
The S&P 500 finished the day flat, while the Nasdaq gained around 80 bps. It is hard to say that today was much different from what we have seen in recent weeks.
Oil falls after U.S. and Iran talk for hours at UN meeting
Oil fell Wednesday, amid optimism that supply disruptions would ease following U.S.-Iran talks, which raised hopes of a diplomatic solution to the conflict in the Middle East.