Americans interviewed by the Guardian describe shrinking carts, bare shelves and hard choices as Trump’s tariffs ripple through daily life. An S&P Global study says companies will face at least $1.2tn in extra 2025 costs, with two-thirds—over $900bn—passed to U.S. consumers; Yale researchers estimate households paying nearly $2,400 more a...
Andrew Ross Sorkin's new book, 1929, reexamines Wall Street's crash through human drama, drawn from archives including JP Morgan partner Thomas Lamont's papers. Eschewing charts for character, Sorkin profiles Charlie Mitchell, Carter Glass, and John Raskob, dispelling myths (no wave of window leaps) and tracing how speculation, easy credit, and...
The S&P 500 is up roughly 13% year to date through Oct. 13, rebounding more than 20% since an April pullback following President Trump’s “Liberation Day” tariffs. If momentum holds, 2025 could deliver a third straight double‑digit rise—an uncommon streak seen only in the 1920s, 1930s, 1950s, and 1990s. Today’s...
After a string of bankruptcies raised alarms in auto finance, JPMorgan CEO Jamie Dimon warned hidden risks may lurk beneath red-hot markets. A subprime auto lender and dealer collapsed amid risky loans, and a lawyer alleged in court "pervasive fraud." Tricolor Holdings also went bankrupt, linked to $170 million in...
In New York, 41-year-old Emily Groveman has spent nearly two years searching for work, despite experience in NBA hospitality and six years leading a digital marketing team. She has tried networking, recruiters, and LinkedIn resume reels, even enduring 13 interviews for one role before losing out. Bills have mounted, and...
US Treasury secretary Scott Bessent said Washington is arranging a $20bn facility backed by private banks and sovereign wealth funds to help Argentina meet debt payments, separate from last week’s $20bn swap line with its central bank. Aimed at supporting President Javier Milei, the effort followed US currency-market interventions last...
A week after Treasury Secretary Scott Bessent announced a $20 billion currency swap with Argentina’s central bank, President Donald Trump hosted President Javier Milei at the White House, praising his agenda while tying U.S. generosity to Milei’s electoral fortunes. With terms still undisclosed and taxpayer dollars at stake, the move...
With millions of federal workers missing paychecks, the government shutdown is rippling through travel, delaying approvals, closing some museums and curbing household spending. Analysts warn of a critical inflection point as key economic data are delayed, confidence slips, and companies pause decisions. Estimates suggest growth could fall by about $15bn...
A federal shutdown is already pinching U.S. air travel. On Oct. 6, Hollywood Burbank Airport’s control tower closed for nearly six hours due to staffing, leaving pilots to coordinate and delays averaging 2.5 hours. The FAA reports controller shortages and spreading delays nationwide, while unscheduled TSA absences rise. Experts cite...
Social Security enters 2026 with a mix of modest boosts and big shifts. A projected 2.7% COLA would add about $53 a month to the average $1,955 benefit, though Part B premiums may bite. The official COLA announcement is expected Oct. 24 after a shutdown-delayed CPI report. Full retirement age...
