Regional bank stocks crumbled Thursday after Zions Bancorp said it wrote off $50 million in the third quarter on bad loans to auto parts supplier First Brands, which filed bankruptcy late last month.
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IMF WARNS U.S. OVER BUDGET DEFICIT
The U.S.’s budget deficit remains the largest among the world’s richest nations even though tariffs are siphoning more of Americans’ income into the country’s treasury, the Financial Times reported.
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GROCERY PRICES ARE STILL RISING, PRESSURING CONSUMERS’ BUDGETS
During the 12 months ending 31 August, the retail price of coffee rose an average of 20.9 percent, according to U.S. Labor Department data. Ground beef was up 12.8 percent to a record average of $6.32 a pound.
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FEAR IS STALKING WALL STREET
As equity values continue to rise, U.S. stock markets are looking over their shoulders at a variety of factors they would rather not see.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As AI continues to take over human jobs, Salesforce laid off 4,000 employees as it switched to an AI-powered workplace management system.
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NEW REPORT LINKS PLASTICS, PESTICIDES TO INCREASED RISK OF PROSTATE CANCER IN MEN
Exposure to chemicals found in everyday items can increase the risk and severity of prostate cancer in men, according to a new report published in Nature Reviews Urology.
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TRUMP CUTS OFF ALL PAYMENTS, SUBSIDIES TO COLOMBIA AFTER PRESIDENT CRITICIZES U.S. STRIKES IN THE CARIBBEAN
U.S. President Donald Trump cut off Colombia from all U.S. payments and subsidies, claiming its president, Gustavo Petro, is a “drug leader” who “does nothing” to stop the country’s illegal drug operations.
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TRUMP’S THIEL PAL SEES BANK GET GREEN LIGHT FROM WATCHDOG
Erebor, a bank launched by members of Peter Thiel’s PayPal—and staunch supporters of President Donald Trump—was granted “preliminary and conditional” approval by the Comptroller of the Currency, an agency within the Treasury Department, according to the Financial Times.
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TRUMP SAYS INDIA WILL HALT RUSSIAN OIL IMPORTS, SURPRISING NEW DELHI
U.S. President Donald Trump told reporters last week that India will be stopping its Russian oil trade, which seemed to catch New Delhi by surprise.