President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded drugs, 25% tariff on imports of all heavy-duty trucks and 50% tariffs on kitchen cabinets. Trump also said he would start charging a 30% tariff on upholstered furniture next week. He said the new heavy-duty truck ...
Amazon to pay $2.5 billion to settle FTC allegations that it duped customers into enrolling in Prime
SEATTLE — Amazon has reached a historic $2.5 billion settlement with the Federal Trade Commission, which said the online retail giant tricked customers into signing up for its Prime memberships and made it difficult for them to cancel after doing so. The Seattle company will pay $1 billion in civil penalties — the largest fine in FTC history, and $1.5 ...
A group of the country’s top economic leaders, including every living former Federal Reserve chair, filed an amicus brief with the Supreme Court on Thursday in support of Fed governor Lisa Cook, who President Donald Trump is seeking to remove. The group, led former central bank chiefs Alan Greenspan, Ben Bernanke and Janet Yellen, said that “allowing the removal of ...
WASHINGTON — Americans are more likely to watch newly released movies from the comfort of their own homes instead of heading out to a theater, according to a new poll. About three-quarters of U.S. adults said they watched a new movie on streaming instead of in the theater at least once in the past year, according to the survey from ...
Jerry Greenfield, co-founder of the Ben & Jerry’s ice cream brand, has stepped down from the company he started 47 years ago citing a retreat from its campaigning spirit under parent company Unilever. Greenfield wrote in an open letter late Tuesday night — shared on X by his co-founder Ben Cohen — that he could no longer ‘in good conscience’ ...
LimeWire, the filesharing service that set the internet ablaze in the 2000s before being shut down for copyright infringement, said Tuesday that is acquiring the rights to Fyre Festival. And it appreciates the irony. ‘LimeWire Acquires Fyre Festival Brand — What Could Possibly Go Wrong?’ the company titled its news release. LimeWire said it would “unveil a reimagined vision for ...
Fast-food restaurants are losing breakfast customers to convenience stores. Morning meal traffic to fast-food chains rose 1% in the three months ended in July, while visits to food-forward convenience stores climbed 9% in the same period, according to market research firm Circana. “Over the long run, convenience stores have taken share, really at foodservice overall, but the morning meal has ...
The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices. In a letter published Wednesday, the office of the inspector general for the Labor Department cited the BLS’ recent decision to reduce data collection activities for two key inflation reports, as well as the large downward revision in employment estimates ...
Shares of Kenvue fell more than 10% on Friday after a report that Health Secretary Robert F. Kennedy Jr. will likely link autism to the use of the company’s pain medication Tylenol in pregnant women. HHS will release the report that could draw that link this month, The Wall Street Journal reported on Friday. That report will also suggest a ...
The average rate on the 30-year fixed mortgage dropped 16 basis points to 6.29% Friday, according to Mortgage News Daily, following the release of a weaker-than-expected August employment report. It’s the lowest rate since Oct. 3 and the biggest one-day drop since August 2024. Rates are finally breaking out of the high 6% range, where they’ve been stuck for months. ...