As a Republican-backed bill moves ahead in the House, proposed tax cuts under the measure include some new and surprising changes that could impact the wallets of millions of Americans. On Wednesday, the House Ways and Means Committee voted in favor of the bill, which would make Mr. Trump’s 2017 tax cuts permanent while also […]
Toymaker says China tariff reprieve means “there’s going to be a Christmas this year”
Small business owner David Mauro hopes an agreement by the U.S. and China to temporarily lower tariffs means there’ll be toys for Christmas this holiday season. U.S. tariffs on Chinese imports of 145% that had previously been in place spelled serious trouble ahead for his company, Jesusdoll.com, which makes talking religious toys, he told CBS […]
Nissan lays off 15% of its global work force amid slipping sales worldwide
Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in China and other nations, and towering restructuring costs. Nissan said it will reduce the number of its auto plants to 10 […]
$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows
Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an “intimate dinner” with President Trump, according to data analytics firm Inca Digital. On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be […]
Most Americans don’t earn enough to afford basic costs of living, analysis finds
The gap between what Americans earn and how much they need to bring in to achieve a basic standard of living is growing, according to a new report. The analysis, from the Ludwig Institute for Shared Economic Prosperity (LISEP), looks beyond whether people can afford daily necessities like food and shelter to consider whether they […]
Fresh & Ready Foods recalls products after listeria sickens 10 people in California, Nevada
Fresh & Ready Foods is voluntarily recalling numerous products, after at least 10 people in the U.S. have been sickened in a listeria outbreak linked to its ready-to-eat food products, federal officials said. The U.S. Food and Drug Administration said Saturday that federal, state and local officials are investigating the outbreak linked to foods produced by the […]
United Airlines unveils Polaris Studio suites for premium travelers. See inside cabin.
United Airlines is adding some extra bells and whistles to its new Boeing fleet. The Chicago-based company announced that its Boeing 787-9 planes will offer a larger selection of premium seats as well as new suites, dubbed “United Polaris Studio.” Positioned at the front of the business class section, the Polaris Studio suites will include […]
Microsoft to lay off approximately 6,000 employees
Microsoft and Meta earnings beat expectations Microsoft and Meta earnings beat expectations in latest report 03:11 Microsoft on Tuesday said it’s cutting 3% of its workforce across the board. The layoffs are expected to impact all levels and geographies, but will focus on reducing management levels, the company said in a statement. Notices went out […]
The “de-minimis” tariff rate is now 54%. Here’s what that means for e-commerce.
What the China trade deal means for businesses What the 90-day U.S.-China tariff reduction means for businesses 09:33 The “de minimis” tariff rate on low-value parcels from China will come down to 54% from 120%, the White House said in an executive order Monday, after reaching an agreement with Beijing over the weekend. The so-called […]
CBS News price tracker shows how much food, gas, utility and housing costs are rising
Prices may still rise despite tariff reversal Despite tariff reversal, some prices could still increase. Here’s why. 01:53 As consumers cope with lingering cost-of-living pressures and the potential impact of tariffs, CBS News is tracking the change in prices of everyday household expenses — from food to utilities and rent. Drawing from a range of […]