News | Latest Breaking News Stories & Headlines

US consumer confidence flat, shutdown a 'key concern'

US consumer confidence was almost unchanged in October, according to data published today, with Americans flagging the government shutdown as a key concern.

Business • 2 hrs

Shutdown could cost US economy $15 billion a week

The two-week-old federal government shutdown may cost the US economy as much as $15 billion a week in lost output, a Treasury official said last night, correcting an earlier statement from Treasury Secretary Scott Bessent that put the cost at up to $15 billion a day.

Business • 16 Oct

Fed's Powell says US economy may be on firmer footing

The US labour market remained mired in its low-hiring, low-firing doldrums in September, though the economy "may be on a somewhat firmer trajectory than expected," Federal Reserve Chair Jerome Powell said last night.

Business • 15 Oct

US private payrolls decline in September

US private payrolls dropped in September, the latest ADP employment report showed today.

Business • 01 Oct

US consumer spending increases solidly in August

US consumer spending increased slightly more than expected in August, keeping the economy on solid ground as the third quarter progressed, while inflation continued to rise at a measured pace.

Business • 26 Sep

Fed delivers rate cut, sees steady pace of further cuts

The Federal Reserve has cut interest rates by a quarter of a percentage point and indicated it will steadily lower borrowing costs for the rest of this year.

Business • 18 Sep

US retail sales beat expectations despite tariffs

Retail sales in the US rose more than analysts expected in August, government data showed today, even as President Donald Trump's tariffs ripple through the world's biggest economy.

Business • 16 Sep

US job growth weakened sharply in August, jobless rate up

US job growth weakened sharply in August while the unemployment rate increased to 4.3%, confirming that labour market conditions were softening and sealing the case for an interest rate cut from the Federal Reserve this month.

Business • 05 Sep

US labour market shows strains as jobless claims rise

The number of Americans filing new applications for jobless benefits increased more than expected last week, while hiring by private employers slowed in August, offering further evidence that labour market conditions were softening.

Business • 04 Sep

The overall US trade deficit jumped 32.5% to $78.3 billion in July, on the back of a 5.9% rise in imports to $358.8 billion

US trade gap widens more than expected as imports surge

The US trade deficit expanded more than expected in July, government data showed today, on a surge in imports analysts expect was driven by a rush to beat another wave of President Donald Trump's tariffs.

Business • 04 Sep

US corporate profits rebound in Q2, GDP growth revised up

US corporate profits rebounded in the second quarter, but tariffs on imports are raising costs for businesses, which could limit further gains and hamper economic growth.

Business • 28 Aug

Federal Reserve Chair Jerome Powell speech displayed on a tv as traders work on the floor of the New York Stock Exchange

US Fed chair leaves door open to interest rate cut

US Federal Reserve Chair Jerome Powell today pointed to a possible rate cut at the Fed's September meeting but stopped short of committing to cutting interest rates.

Business • 22 Aug

US Federal Reserve policymakers voted to keep interest rates unchanged at a range between 4.25-4.5% at their last meeting

US Fed more concerned with inflation risk than jobs

A majority of Federal Reserve officials found that risks surrounding US inflation outweighed those to employment, minutes of a recent policy meeting showed - underscoring a central bank divide over the effects of President Donald Trump's tariffs.

Business • 21 Aug

S&P affirms US 'AA+' credit rating, cites tariff revenue

S&P Global has affirmed its 'AA+' credit rating on the US, saying the revenue from President Donald Trump's tariffs will offset the fiscal hit from his recent tax-cut and spending bill.

Business • 19 Aug

Fed cut seen near certain after inflation data - Bessent

The likelihood of a Federal Reserve rate cut in September is now seen near 100% after new data showed US inflation increasing at a moderate pace in July and Treasury Secretary Scott Bessent said he thought an aggressive half-point cut was possible given recent weak employment numbers.

Business • 13 Aug

US consumer prices increase moderately in July

US consumer prices increased moderately in July, though rising costs for goods because of import tariffs led to a measure of underlying inflation posting its largest gain in six months.

Business • 12 Aug

US President Donald Trump holds a poster which reads "BLS Overestimates Biden Jobs by Nearly 1.5 Million" in the Oval Office

Trump picks Antoni to lead US labour statistics agency

US President Donald Trump said he was nominating economist EJ Antoni as the new Bureau of Labor Statistics commissioner, 10 days after firing the agency's previous leader following a weak scorecard of the job market, accusing her without evidence of manipulating the figures.

Business • 12 Aug

US job growth slows sharply in July, unemployment rises

US job growth slowed more than expected in July while the previous month's data was revised sharply lower, pointing to a sharp moderation in the labour market.

Business • 01 Aug

US inflation picks up in June, consumer spending rises

US inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year.

Business • 31 Jul

US economy returns to growth in Q2 on tariff turbulence

The US economy returned to growth in the second quarter, government data showed today, as analysts warned of distortions due to shifting trade flows over President Donald Trump's tariffs.

Business • 30 Jul

American Express beats profit forecast on robust spending

American Express surpassed estimates for second-quarter profit today, fueled by resilient spending from its affluent cardholders.

Business • 18 Jul

US retail sales beat expectations in June

US retail sales rebounded more than expected in June, but some of the increase likely reflected higher prices for some goods exposed to tariffs.

Business • 17 Jul

US consumer prices increase as expected in June

US consumer prices picked up in June, likely marking the start of a long-anticipated tariff-induced increase in inflation that has kept the Federal Reserve cautious about resuming its interest rate cuts.

Business • 15 Jul

Non-farm payrolls increased by 147,000 jobs last month after an upwardly revised 144,000 advance in May, new figures show today

June US job growth beats expectations, jobless rate dips

US job growth was solid in June while the unemployment rate unexpectedly fell to 4.1%, suggesting the labour market remained stable and potentially allowing the Federal Reserve to delay resuming cutting interest rates until September.

Business • 03 Jul

US consumer spending falls unexpectedly in May

US consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of tariffs faded, while monthly inflation increases remained moderate.

Business • 27 Jun

Us Economy