Economic News

26 Meta employees sue, alleging AI-driven layoff picks hit workers on medical and parental leave

A group of 26 Meta employees has sued the company, claiming it used artificial intelligence systems that disproportionately targeted those on medical or family leave for layoffs

US producer prices fell 0.3% from May to June, but intensifying hostilities with Iran cloud inflation outlook

US reimposes its blockade on Iran after Tehran's attacks on ships in the Strait of Hormuz

The U.S. military has reimposed its blockade of Iranian ports in response to Iran’s attacks on commercial ships in the Strait of Hormuz

CORRECTS: China says its economy grew 4.3% in the last quarter from a year earlier, slowing from 5% in Jan-March

As US reimposes naval blockade, Iran's paramilitary Revolutionary Guard threatens to halt Mideast energy exports

China says its economy grew 4.3% in the April-July quarter from a year earlier, slowing from the strong 1st quarter

Senators rally to Russia sanctions bill, one of Graham's top priorities

Sen. Lindsey Graham’s pursuit of a Russia sanctions bill has taken on a renewed sense of urgency following his death

US stocks rise after data shows slowing inflation, even as IBM plunges

Stocks rose after a report showed U.S. inflation was not as bad last month as economists expected

Banks rake in big profits as both Wall Street and the US consumer stay strong

Five of the biggest U.S. banks reported record profits on Tuesday, boosted by their trading desks and a remarkably resilient American consumer amid persistent global economic uncertainty

Inflation cools more than expected in June as gas costs fall, underlying prices ease

U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also slowed more than expected