The Treasury secretary said the new ‘x date’ to force a debt limit increase will be determined once tax receipts are fully collected. WASHINGTON—Treasury Secretary Scott Bessent offered an update on budget reconciliation talks, suggesting that tax-related elements would be settled by July 4. “The House is moving things along quickly, and the Senate is
A federal appeals court ruled grocery chain Whole Foods should not have been dropped from the lawsuit and sent the case back to state court. The Supreme Court agreed on April 28 to hear a case about whether a state court should have to retry two parents’ claim that allegedly tainted baby food gave their
U.S. stocks drifted to a mixed, quiet finish Monday ahead of a week with several potential flashpoints that could bring more sharp swings for financial markets. Later this week will come earnings reports from some of Wall Street’s most influential companies, including Amazon, Apple, Meta Platforms and Microsoft. Reports will also show how the U.S.
Merck will acquire SpringWorks Therapeutics for $3.9 billion, aiming to strengthen its U.S. health care presence and expand rare tumor therapies worldwide. Merck KGaA, a German science and technology company, announced Monday that it has entered into a definitive agreement to acquire SpringWorks Therapeutics, a U.S. biopharmaceutical company focused on severe rare diseases and cancer,
IBM said it operates ’the world’s largest’ fleet of quantum computer systems and will continue to design, build, and assemble quantum computers in America. IBM announced plans on Monday to invest $150 billion in the United States over the next five years to expand its role as a global leader in computing. The company said
Production stayed in growth territory last month even as orders shrank, costs rose, and confidence sank to a five-year low. Manufacturing activity in Texas continued to grow in April, though modestly, even as business sentiment deteriorated to a five-year low, the Federal Reserve Bank of Dallas reported on April 28. The Dallas Fed’s production index—a
“It’s actually what we have continued to see over the years, regardless of the economy,” a career strategist said. A newly released survey by ResumeTemplates.com indicates that 75 percent of graduating college seniors have not yet secured employment, and 34 percent have not even started to apply for jobs. Of the latter group, almost 25
This is below President Donald Trump’s estimate of $3 billion per day. As President Donald Trump’s trade policies take effect, record tariff revenues have begun flowing into U.S. government coffers. According to the April 24 Daily Treasury Statement, revenues from “customs and certain excise taxes” reached an all-time high of $15.9 billion in April, up
Commentary The credibility of government data on economics has come into question in recent years. It consistently underestimated inflation and overestimated gross output. Labor data has been internally contradictory. Factory orders and retail prices have been reported in nominal terms, which makes no sense in a high-inflation environment. With sagging credibility of this source, many
The beauty of the Rule of 72 is that it can be calculated by the average 10-year-old. By Charles Lewis Sizemore From Kiplinger’s Personal Finance If you’ve dabbled in investing, you’ve likely heard of the “Rule of 72.” It’s a back-of-the-envelope metric for calculating how quickly an investment will double in value. Most financial metrics