The FAA has resorted to buying parts on eBay, EBAY, because its equipment is so old, Transportation Secretary Sean Duffy has said

Transportation Secretary Sean Duffy says the Federal Aviation Administration is relying on equipment so outdated that it’s had to source replacement parts from eBay. In light of a series of technical failures at Newark Liberty International Airport, Duffy warned that the aging air traffic control infrastructure is threatening the

UnitedHealth is under criminal investigation by the Justice Department for possible Medicare fraud

UnitedHealth Group is facing a criminal investigation over potential Medicare fraud, according to a report by the Wall Street Journal (WSJ), which cited sources familiar with the matter. The U.S. Department of Justice has been conducting a probe into UnitedHealth’s Medicare Advantage operations since at least last summer,

The economy is showing signs of weakening

The weekend agreement between the United States and China to significantly scale back steep reciprocal tariffs during a 90-day trade war pause is projected to give a notable boost to U.S. economic growth in 2025, ease inflationary pressures, and lower the likelihood of a recession, according to economists. However,

The US Government now spends more money on interest payments on the National Debt ($1.11 Trillion) than it does on National Defense ($1.10 Trillion)

The Congressional Budget Office (CBO) now projects that the federal government will spend a staggering $13.8 trillion on net interest payments between Fiscal Year 2026 and 2035. According to the latest estimates: * Interest payments are expected to grow from $881 billion in FY 2024 to $1 trillion by FY

Warren Buffett now owns an astonishing 5.1% of the entire U.S. Treasury Bill Market

Berkshire Hathaway (BRK.A)(BRK.B), Warren Buffett’s investment powerhouse, released its latest earnings on Saturday, revealing that its cash and Treasury holdings have reached unprecedented heights. As of March 31, 2025, Berkshire has amassed a staggering $314.1 billion in U.S. Treasury bills, cementing its role as

Trump: I'm a big crypto fan

President Donald Trump was questioned aboard Air Force One by New York Times reporter Jonathan Swan about a $2 billion investment from a UAE-backed firm involving Trump-affiliated cryptocurrency. Trump is currently touring the Persian Gulf on a four-day visit with stops in Saudi Arabia, Qatar, and the United Arab Emirates—

Speaker Mike Johnson declares support for congressional stock trading ban

House Speaker Mike Johnson (R-La.) said Wednesday he supports efforts to prohibit members of Congress from trading individual stocks, while also recognizing the financial challenges such a ban could pose for lawmakers. In his most detailed comments yet on the issue, Johnson told reporters at a press conference, “I support

Bitcoin will replace U.S. dollar dominance in 10 years or less, billionaire venture capitalist Tim Draper has said

Venture capitalist Tim Draper believes Bitcoin is on track to supplant the U.S. dollar as the world’s dominant currency within the next 10 years. “In maybe 10 years—or even sooner—Bitcoin will be the go-to currency for global commerce,” Draper said in a recent interview with CoinDesk.

Wealthy people's consumer spending is single-handedly warding off a recession

Affluent Americans are largely keeping the economy afloat with their continued spending, even as signs of strain emerge among lower- and middle-income households. While rising inflation, elevated interest rates, and surging prices for essentials like rent, groceries, and fuel have forced many households to scale back, wealthier consumers have remained

U.S. oil production has likely peaked and will start to decline due to price plunge, Diamondback CEO has said

U.S. onshore oil production may have reached its peak and is likely to decline due to the recent drop in crude prices, potentially threatening the country’s status as the world’s leading fossil fuel producer and undermining its energy independence, according to a letter from Diamondback Energy CEO

The United States to cut the low value "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain

The United States will reduce tariffs on low-value imports from China under the “de minimis” rule, according to a White House executive order issued Monday — a move that signals continued efforts to cool tensions between the two largest global economies. The tariff reduction targets major Chinese e-commerce platforms like Shein

House GOP tax bill calls for ‘SALT’ deduction cap of $30,000 for most taxpayers

House Republicans are pushing to raise the deduction limit for state and local taxes — known as SALT — as part of President Donald Trump’s broader tax and spending proposal. On Monday afternoon, the House Ways and Means Committee released its draft of the bill, including a provision that would raise

Ticketmaster, LYV, said it will start displaying the full price of a ticket as soon as consumers begin shopping

Ticketmaster, long criticized for hidden fees and other customer frustrations, is among the businesses targeted by a new rule from the Federal Trade Commission (FTC) announced in December. The rule mandates that companies like ticketing platforms, hotels, and vacation rental services must clearly disclose processing, cleaning, and other fees upfront.

Frustrated sellers are cutting house prices by tens of thousands of dollars as buyers grow more elective

A widening gap is emerging between what home sellers hope to get and what buyers are actually willing to pay. According to Redfin, in March the median asking price was 9% higher than the median sale price — a sign that seller expectations are becoming increasingly out of sync with market

Tariffs are raising costs for wedding dresses and threatening the small shops that sell them

Tariffs on Chinese imports have impacted a broad array of consumer goods — from T-shirts and toys to patio furniture and baby strollers. But few sectors illustrate the pressure on small businesses more clearly than the bridal and formalwear industry, which sits squarely in the middle of the global supply chain.

US CPI year over year increase is smallest since Feb 2021

April’s inflation data came in slightly softer than expected, but former President Donald Trump’s tariffs remain an unpredictable factor in the broader inflation outlook, depending on how trade negotiations evolve over the coming months. According to the Labor Department’s Tuesday report, the Consumer Price Index (CPI) rose

Microsoft, MSFT, is laying off 3% of all its employees

Microsoft (NASDAQ: MSFT) is cutting roughly 3% of its global workforce—its most significant round of layoffs in over two years. Though not officially announced through a press release or SEC filing, the news broke Tuesday and was later confirmed by a Microsoft spokesperson to CNBC. The reduction amounts to

Paul Tudor-Jones: Market will go to new lows until tariffs change

Billionaire hedge fund manager Paul Tudor Jones warned Tuesday that the stock market is likely to drop to new lows, even if President Donald Trump scales back his aggressive tariffs on China. “It seems pretty straightforward to me,” Jones said during an appearance on CNBC’s Squawk Box. “You’ve

Trump has said: The stock market will go higher

Since President Donald Trump halted most of the retaliatory tariffs on April 9—reversing the course he set on April 2—the stock market has surged. The S&P 500 and Nasdaq have both posted double-digit gains, fueled by investor optimism that a less confrontational stance could pave the

New Republican tax bill to raise debt limit by $4 trillion

House Republicans are pressing ahead with a plan to raise the U.S. debt ceiling by $4 trillion as part of a broader legislative effort to advance President Trump’s tax agenda. The proposal, released Monday in a bill drafted by the House Ways and Means Committee, aligns with the

Trump officially maintains 120% cheap goods tax on China, hitting Shein and Temu

Small packages from China will continue to face a 120% tariff, a White House official confirmed Monday, posing a significant setback for American consumers who rely on low-cost goods from e-commerce giants like Shein and Temu. The Trump administration had previously closed a long-standing loophole that allowed inexpensive imports to

Morgan Stanley, MS, says humanoid robots will be a $5 trillion market by 2050

Humanoid robots could eventually surpass the auto industry in economic significance, according to Morgan Stanley (NYSE:MS), which projects the market could generate up to $5 trillion in annual revenue by mid-century as adoption spreads from industrial and commercial sectors into households. The firm envisions as many as 1 billion

Americans need to earn about 70% more today than six years ago to comfortably afford a median-priced home

U.S. households now need to earn $114,000 annually to afford a median-priced home, a staggering 70.1% increase from the $67,000 needed just six years ago, according to the Realtor.com® April Housing Trends Report. While affordability has clearly eroded, there are emerging signs that the tide

Trump: We achieved total trade reset with China

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been achieved.

Bessent: can always go back to April 2 level for China tariffs

President Donald Trump said tariffs on Chinese goods won’t return to the 145% level after the current 90-day suspension, expressing optimism that a deal is on the horizon. Referring to the Geneva negotiations over the weekend, he described them as “productive” and said a “total reset” had been achieved.