Economy
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Microsoft lays off 6,000 employees
The tech company has 228,000 workers globally, about 126,000 of which are in the U.S.
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Annual inflation rate was 2.3 percent in April, federal government
The annualized and month-to-month increases were in line with analysts' forecasts, according to CNBC.
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New car prices higher in April following tariffs
The average price consumers paid for new cars rose 2.5% from March to April, which is more than double the typical 1.1% increase over those two months in recent years.
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U.S., China drop high tariffs, agree to 90-day pause
The U.S. agreed to drop its 145% tariff rate on Chinese goods down to 30%, while China agreed to lower its tariff rate on U.S. goods from 125% to 10%.
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Federal Reserve holds interest rates steady
The decision was made despite President Trump's call for lower interest rates amid tariff wars with other countries.
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S&P 500 hits longest winning streak in 20 years
The last time the S&P 500 posted nine consecutive days of gains was November of 2004.
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Kohl's CEO fired for alleged business deal with romantic partner
Ashley Buchanan was fired as Kohl's CEO after the company learned that he allegedly told the retailer to engage in a “highly unusual” business deal with his romantic partner.
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US economy adds 177K jobs in April, exceeding economic forecasts
The unemployment rate for the month was 4.2%, unchanged from March
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GDP, measure of US economic output, shrinks in first quarter in 2025
The contraction is reportedly the first since 2022.
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Rasner Media parts with Amazon, Bezos in bid to purchase TikTok: 'You're fired'
The separation comes after reports earlier in the day indicated that Amazon intended to show website shoppers the additional costs of Trump's tariffs on merchandise. The online retailer has denied the reports.
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U.S. consumer confidence plummets to COVID-era level, amid the trade war
The recent news followed Trump's imposition of a 10% tariff on nearly all imports. He later announced a 90-day pause on tariffs on dozens of countries, but also increased the tariff on China to 125%.
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UPS to cut 20,000 jobs, close 73 buildings amid less Amazon deliveries
"These actions will enable us to expand our U.S. Domestic operating margin and increase profitability," said UPS Chief Financial Officer Brian Dykes.
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Amazon to show tariff costs on each product, WH calls move 'hostile and political'
Each product will show how much of its cost is from tariffs, next to the total listed price.