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President Donald Trump on Wednesday urged U.S. lawmakers to pass legislation to limit credit card rates to 10%, following his social media post this month ordering banks to voluntarily lower their rates. “I’m asking Congress to cap credit card interest rates at 10% for one year, and this will help millions of Americans save for […]
The gambling watchdog (PAGCOR) for the Philippines is under fire, as its CEO, Alejandro Tengco, has been accused of a conflict of interest. It comes as Tengco’s family’s construction firm managed to acquire government contracts. The PAGCOR chief has refuted these claims, claiming that he has no direct influence on what the wider government does. […]
Parts of the US economy, particularly housing, may already be in recession because of high interest rates, Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal Reserve to accelerate rate cuts. “I think that we are in good shape, but I think that there are sectors of the economy that are in recession,” Bessent said on […]
An aerial view of properties cleared of wildfire debris which burned in the Eaton Fire on July 03, 2025 in Altadena, California. Mario Tama | Getty Images News | Getty Images The California state legislature passed a bill Monday that ensures homeowners, not lenders, receive at least some of the interest on insurance payouts for […]
In July 1988, Mike Dukakis was leading the presidential race versus George H.W. Bush — but not for long. A little later that summer, the Democratic nominee agreed to do a photo-op in a battle tank with an army helmet perched awkwardly on his head. GOP spin masters capitalized with the now infamous “tank ad” […]
A Kohl’s store in Pleasant Hill, California, on Nov. 25, 2024. Bloomberg | Bloomberg | Getty Images Shares of Kohl’s surged Tuesday in volatile trading that echoed the meme stock rallies of recent years. The legacy department store’s stock more than doubled from Monday’s close of $10.42 per share, only to see those gains wiped […]
China’s central bank cut interest rates and made it easier on Wednesday for banks to increase lending and pump more money into the economy, in the most significant policy steps taken by Chinese officials to limit the impact of the trade war with the United States. The central bank, the People’s Bank of China, cut […]
The European Central Bank lowered interest rates on Thursday, the sixth consecutive cut, amid a rapidly changing economic landscape for the region. The bank’s key rate was cut by a quarter point to 2.5 percent, which was widely expected as inflation in the region has stayed relatively low and economic growth has been weak. But […]
Dara Khosrowshahi, CEO of Uber, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC Ride-hailing and food delivery app Uber is opening its “interest list” to users in Austin, Texas, who want to be first in line for Waymo robotaxis there. The company said […]
The Federal Reserve on Wednesday kept interest rates unchanged after its first meeting of the year – ignoring President Trump’s calls for rates to “drop immediately.” “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the […]
