Here’s the latest.

California rejects billionaire tax proposal in win for executives, Newsom

California voters are rejecting a proposal to impose a wealth tax on billionaire residents, marking a major win for tech and business executives, who spent hundreds of millions against the measure, according to a projection from Decision Desk HQ (DDHQ). According to DDHQ's analysis, 54 percent voted against the measure, while 46 percent voted for...

California rejects billionaire tax proposal in win for executives, Newsom

California voters are rejecting a proposal to impose a wealth tax on billionaire residents, marking a major win for tech and business executives, who spent hundreds of millions against the measure, according to a projection from Decision Desk HQ (DDHQ). According to DDHQ's analysis, 54 percent voted against the measure, while 46 percent voted for...

Strong Hiring Reinforces a Sturdy Job Market

Unemployment fell in October, extending years of stability for a U.S. work force threatened by inflation and artificial intelligence.

Waters launches bid for House Financial Services chair

Democratic Rep. Maxine Waters (Calif.) officially launched her bid for chair of the House Financial Services Committee on Friday, after Democrats won control of the lower chamber in the midterms.  In a letter to her Democratic colleagues, Waters — the committee's ranking member — wrote that party lawmakers “must now deliver on our promises to...

A.I. Was Supposed to Come for Our Jobs. So Far, Evidence Is Mixed.

White collar industries that are most exposed to artificial intelligence continued to add jobs in October, although that growth has been weak.

Tesla winding down Cybertruck production

Elon Musk announced Friday that Tesla will wind down production of its Cybertruck next year after years of poor sales for the electric truck. In a post on the social platform X, the Tesla CEO said Cybertruck production will wind down at Gigafactory Texas in mid-2027 "to make room for increased Cybercab production." The Texas...

Tesla winding down Cybertruck production

Elon Musk announced Friday that Tesla will wind down production of its Cybertruck next year after years of poor sales for the electric truck. In a post on the social platform X, the Tesla CEO said Cybertruck production will wind down at Gigafactory Texas in mid-2027 "to make room for increased Cybercab production." The Texas...

Fed's Williams says inflation too high, targets 2 percent

John Williams, the president of the Federal Reserve Bank of New York, said Friday inflation remains too high amid multiple price shocks. "Inflation is absolutely too ​high. It's been too high for too long," Williams said at a ​European Central Bank conference in Germany. He later added, "It's absolutely essential that we bring inflation back...

Fed's Williams says inflation too high, targets 2 percent

John Williams, the president of the Federal Reserve Bank of New York, said Friday inflation remains too high amid multiple price shocks. "Inflation is absolutely too ​high. It's been too high for too long," Williams said at a ​European Central Bank conference in Germany. He later added, "It's absolutely essential that we bring inflation back...

Trump on stock market losses: 'You only have yourselves to blame'

President Trump said the stock market “suffered one of the Worst Days in History” on Thursday, a day after it surged following Democrats’ sweeping victories in the midterm elections. The Dow Jones Industrial Average went up by 1,104 points on Wednesday after the opening bell. But on Thursday, it dropped by more than 2,100 points from...

Here’s the latest.

Stable Labor Market Keeps Fed on Track to Raise Rates Gradually

The Federal Reserve decided against raising interest rates at its meeting last week, but it is widely expected to move again in December to help tame inflation.