The US economy slowed down in April as consumers reduced their spending, while goods imports plummeted by a record due to higher tariffs. Inflation-adjusted personal spending rose 0.1% from the previous month’s 0.7%, according to Bureau of Economic Analysis data. This slowdown was accompanied by an almost 20% decline in imports, which significantly narrowed the … Read more
US President Donald Trump has accused China of violating a truce on tariffs struck earlier this month, leading to a strong response from Beijing. The US had agreed to temporarily lower tit-for-tat tariffs after talks in Geneva, but Trump said China had “totally violated its agreement with us”. China’s reaction came in the form of … Read more
United Airlines and JetBlue Airways have announced a new agreement to share frequent flier benefits and sell tickets on each other’s websites. The deal, called “Blue Sky,” would allow members of both airlines’ loyalty programs to earn and redeem miles on most flights operated by the other airline. Benefits under the Blue Sky agreement include … Read more
The Islamic State (IS) group has claimed responsibility for two attacks in southern Syria, including a deadly assault on government forces that marked the first time the extremists had targeted the Syrian army since President Bashar Assad’s fall from power. The attack, which occurred last Thursday, May 22, in the al-Safa area, killed seven soldiers … Read more
Faizan Zaki, 13, won the Scripps National Spelling Bee championship after nearly throwing it away due to overconfidence. The favorite entering the competition last year as a runner-up finisher, Faizan wore expectations lightly and showed joy when spelling words on stage. During Thursday night’s finals, Faizan looked like a champion in waiting but made a … Read more
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Best Buy has revised its revenue forecast for Fiscal Year 2026 due to the impact of tariffs on global trade. The company now expects annual comparable sales to be between a 1% decline and an increase of 1%. This is lower than its previous projections of $41.4 billion to $42.2 billion. For the full year, … Read more
Best Buy has cut its profit outlook due to rising tariffs on imported electronics. The retailer’s CEO, Corie Barry, said prices would need to be raised to offset the costs of the duties. Barry had previously warned that Best Buy would likely have to raise prices due to the tariffs. However, she did not specify … Read more
US President Donald Trump has accused China of violating a preliminary trade agreement with the US. In a social media post, Trump said China had reneged on a deal that paused retaliatory tariffs between the two countries. The move led to a decline in stock futures, and US Trade Representative Jamieson Greer echoed Trump’s allegation, … Read more
Federal Reserve Chair Jerome Powell held a private meeting with US President Donald Trump at the White House, sparking renewed speculation about the central bank’s communication with the administration. This comes weeks after Powell stated that he had not been invited to return to regular meetings since Trump took office. Source: https://www.barrons.com/articles/fed-powell-trump-economy-interest-rates-e466bdfb