Americans cut back on spending as inflation ticks higher
Consumer sentiment has also fallen sharply this year in the wake of the sometimes-chaotic rollout of President Donald Trump’s tariffs.
Associated Press
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Supreme Court OKs fee that subsidizes phone, internet services in schools, libraries and rural areas
The justices, by a 6-3 vote, reversed an appeals court ruling that had struck down as unconstitutional the Universal Service Fund, the charge that has been added to phone bills for nearly 30 years.
Unemployment among young college graduates outpaces overall joblessness rate
The unemployment rate for degree holders ages 22 to 27 has reached its highest level in a dozen years, excluding the pandemic. Joblessness among that group is higher than the overall unemployment rate, and the gap is larger than it’s been in more than three decades.
NCAA considering proposal to allow college athletes, staff to bet on pro sports
The shift comes as the Indianapolis-based organization grapples with the growth of legalized gambling across the United States.
Stocks rise to brink of a record, recover nearly all their 20% springtime drop
Wall Street’s worries about Trump’s tariffs have receded since the president stunned the world in April with stiff proposed levies, but they have not disappeared.
Economy shrank more than previously estimated in first quarter
Economists expect growth to bounce back to 3% in the second quarter, according to a survey of forecasters.
GE Appliances moves washing machine production from China to Louisville with $490M investment
In all, production of more than 15 models of front load washers will shift to the company’s sprawling Louisville production complex—known as Appliance Park.
States can cut off Medicaid funding to Planned Parenthood, Supreme Court rules
While Medicaid law allows people to choose their own provider, it doesn’t make that a right enforceable in court, the justices found.
Nestle says it will remove artificial dyes from US foods by 2026
Nestle joins Kraft Heinz and General Mills as major food companies to pledge they would remove artificial dyes from their U.S. products.
NBA Commissioner Adam Silver says league taking serious look at Achilles tears
The NBA had already convened a panel of experts to study Achilles tendon injuries even before Indiana Pacers star Tyrese Haliburton ruptured his in Game 7 of the NBA Finals, Commissioner Adam Silver said Wednesday night.
Judge dismisses authors’ copyright lawsuit against Meta over AI training
Although Meta prevailed, the judge repeatedly indicated reasons to believe that Meta and other AI companies have turned into serial copyright infringers as they train their technology on books and other works created by humans.
Motorsports teams fear ‘catastrophic’ impact of disclosing financial records during court fight
Attorneys for 12 of NASCAR’s 15 race teams argued in federal court Tuesday that disclosing their financial records would ruin the competitive balance and warned that making such details public would put them all in danger.
NBA Finals generate 5 billion social views
Game 7 was the most-watched finals game internationally ever on NBA League Pass, the league said.
Powell says Fed rate cut on hold even as Trump demands cuts
The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday.
Pacers’ Tyrese Haliburton after surgery to repair torn Achilles tendon: ‘I’d do it again’
Haliburton’s surgery to repair the tendon was performed Monday by Dr. Martin O’Malley at the Hospital for Special Surgery in New York, the Pacers said.
US strikes on Iran add to global travel disruptions, flight cancellations
After a ceasefire was announced between Israel and Iran, some of those disruptions eased. But the truce appeared to be on shaky ground Tuesday.
Consumer confidence index unexpectedly resumes slide
Americans’ view of the U.S. economy worsened this month. The regression surprised economists, who had expected a small uptick.
Layoffs from tariffs ripple across the auto-parts industry
President Trump’s shifting stances on trade and tariffs have upended the planning of many companies that provide parts and equipment to big automakers.
Charitable giving was up in 2024, according to new Giving USA report
Strong performance by companies, particularly in the tech sector, pushed corporate giving up 6%, to a record amount.
Federal Reserve’s Bowman says rate cut should be on table in July
Michelle Bowman, who was appointed to the Fed’s board of governors by Donald Trump in 2018, is the second high-profile official to express support for a potential July cut in as many days.