The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty.
The Dow Jones stock index essentially ended Thursday flat after having posted 10 days of losses. The Federal Reserve now sees inflation as staying stubbornly elevated as it has become cautious about further interest rate cuts planned for next year.
Full StoryA debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown.
President-elect Donald Trump has demanded that a provision raising or suspending the nation's debt limit — something that his own party routinely resists — be included in legislation to avert a government shutdown. "Anything else is a betrayal of our country," Trump said in a statement Wednesday.
Full StoryRussia's central bank has left its benchmark interest rate at a record 21%, holding off on further increases despite high consumer inflation fueled by the Kremlin's war against Ukraine.
The decision Friday comes amid criticism from influential business figures, including tycoons close to the Kremlin, that high rates are putting the brakes on business activity and the economy.
Full StoryAmazon workers affiliated with the Teamsters union launched a strike at seven of the company's delivery hubs less than a week before Christmas.
The Teamsters said the workers, who voted to authorize strikes in recent days, joined picket lines on Thursday after Amazon ignored a Sunday deadline the union had set for contract negotiations.
Full StoryPastry chef Arnaud Delmontel rolls out dough for croissants and pains au chocolat that later emerge golden and fragrant from the oven in his Paris patisserie.
The price for the butter so essential to the pastries has shot up in recent months, by 25% since September alone, Delmontel says. But he is refusing to follow some competitors who have started making their croissants with margarine.
Full StoryThousands of Syrian doctors work in Germany, and the fall of Bashar Assad is raising concern over the potential consequences for the health sector if many of them were to return home.
Germany became a leading destination for Syrian refugees over the past decade, and some politicians were quick to start talking about encouraging the return of at least some after rebels took Damascus earlier this month. Others noted that the exiles include many well-qualified people and said their departure would hurt Germany — particularly that of doctors and other medical staff.
Full StoryPresident-elect Donald Trump delivered a likely death blow to bipartisan congressional budget negotiations on Wednesday, rejecting the measure as full of giveaways to Democrats after billionaire ally Elon Musk whipped up outrage toward the bill and cheered on Republican lawmakers who announced their opposition.
Trump's joint statement with Vice President-elect JD Vance, which stopped the bill in its tracks, punctuated a daylong torrent of social media posts by Musk attacking the legislation for what he described as excessive spending.
Full StoryJapanese automakers Nissan Motor Corp. and Honda Motor Co. confirmed Wednesday that they are discussing closer collaboration but denied reports they have decided on a merger.
Nissan's share price soared nearly 24% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the world's third-largest automaking group. Honda's share price fell as much as 3%. Nissan alliance member Mitsubishi Motors Corp. is also part of the talks.
Full StoryThe Iranian rial on Wednesday fell its lowest level in history, losing more than 10% of its value since Donald Trump won the U.S. presidential election in November and signaling new challenges for Tehran as it remains locked in the wars raging in the Middle East.
The rial traded at 777,000 rials to the dollar, traders in Tehran said, down from 703,000 rials on the day Trump won.
Full StoryPresident-elect Donald Trump will join SoftBank Group CEO Masayoshi Son at his Florida home on Monday to announce that the company is planning to invest $100 billion in U.S. projects over the next four years.
Trump is set to speak at his Mar-a-Lago resort at 11 a.m., marking the first time he will address reporters since he won the election last month.
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