Judge strikes down Trump administration guidance against diversity programs at schools and colleges
The guidance has been on hold since April when three federal judges blocked various portions of the Education Department’s anti-DEI measures.
Associated Press
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Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
Seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high.
Average rate on a 30-year mortgage drops to lowest level since October
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Taylor Swift’s economic pull makes orange the new green for big brands
Numerous corporations, from United Airlines to Olive Garden, began posting orange hued memes on their own social media accounts soon after the new album was announced.
US producer prices surge in July as Trump tariffs push costs higher
U.S. wholesale inflation surged unexpectedly last month, signaling that the president’s sweeping import taxes are pushing costs up and that higher prices for consumers may be on the way.
Social Security’s 90th anniversary marked by funding threats, privatization talk
Trump and other Republicans have said they will not cut Social Security benefits, yet the program remains far from the sound economic system that FDR envisioned 90 years ago.
GE Appliances shifts more production to US as part of a $3 billion investment
The majority of GE Appliances’ production is already in the U.S. and the shift means only that the company will transfer more work to its domestic plants.
Why many Americans are rethinking alcohol, according to a new Gallup poll
CNBC reported earlier this year that non-alcoholic beer sales were expected to surpass ale as the second-largest beer category worldwide. Retail sales for non-alcoholic beer surpassed $17 billion in 2023.
Trump’s nominee to oversee jobs and inflation data faces shower of criticism
E.J. Antoni’s selection threatens to bring a new level of politicization to what has long been a nonpartisan agency widely accepted as a producer of reliable measures of the nation’s economic health
Homeowners turn to cash-out refinancing to take advantage of big gains in home equity
Cash-out refinances, in which homeowners take out a loan for more than they owe on their mortgage and pockets the difference, accounted for roughly 60% of all home loan refis in the second quarter.
Amazon expands its perishable delivery service, putting pressure on traditional grocers
The move marks one of the most significant grocery expansions for the online retailer as Amazon introduces thousands of perishable food items into its existing logistics network.
Spirit Airlines sounds the alarm on its future ability to stay in business
Spirit—which flies to eight cities from Indianapolis—pointed to “adverse market conditions” that it’s continued to face after a recent restructuring and other efforts to revive its business.
US national debt reaches a record $37 trillion, the Treasury Department reports
The national debt eclipsed $37 trillion years sooner than pre-pandemic projections.
US July budget deficit up 20% year-over-year despite record Trump tariff income
As President Donald Trump talks about America becoming rich because of his import tax hikes, federal spending keeps outpacing the revenues collected by the government.
WNBA ratings, attendance still strong despite top stars missing games with injuries
Injuries have kept Caitlin Clark, Breanna Stewart, Napheesa Collier and Angel Reese out, but that hasn’t dampened fan interest in the league.
US inflation held steady as mild tariff hit offset by cheaper gas, food
Americans are likely to absorb more trade-war costs in the coming months as Trump begins to finalize tariffs.
US, China extend trade truce, easing tension between world’s largest economies
The previous deadline was set to expire at 12:01 a.m. Tuesday. Had that happened, the U.S. could have ratcheted up taxes on Chinese imports from an already high 30%.
Trump nominates conservative economist to head agency that compiles jobs, inflation data
Trump fired the former Bureau of Labor Statistics chief on Aug. 1 after the July jobs report showed hiring slowed sharply this spring, with job gains in May and June revised much lower than initially estimated.
Caitlin Clark making progress in recovery from groin injury but still not practicing with Fever
Down Clark, Sydney Colson and Aari McDonald, the Fever signed Odyssey Sims to a hardship contract Sunday.
Li Li Leung guided USA Gymnastics out of the darkness. The outgoing president is eager for a break
The outgoing CEO of the Indianapolis-based USA Gymnastics discussed transforming the organization, re-establishing trust after scandal and the search for her successor.