Breaking News: Economy
- Trade balance soared 94% in November and was higher than a year ago, despite tariff efforts - The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled.
- China, U.K. vow to build long-term strategic partnership in bid to reset strained ties - U.K. Prime Minister Sir Keir Starmer said he hopes to build "more sophisticated" ties with China as the two nations look to revive their bilateral relationship.
- Fed holds key interest rate steady as economic view improves - The Federal Reserve on Wednesday released its decision on interest rates.
- All eyes are on Trump's reaction to the 'mother of all deals' between India and the EU - The trade deal is being widely seen as a strategic hedge against volatile U.S. trade policies.
- The 'middle powers' are having a moment, but can they stand up to Trump? - Some are looking to the world's "middle powers" as a possible bulwark against increasing unilateralism among global superpowers.
- AI spending wasn't the biggest engine of U.S. economic growth in 2025, despite popular assumptions - The GDP value of AI is smaller than it might appear given that a lot of high-tech equipment is imported, according to a recent MRB Partners report.
- Airlines cancel hundreds of flights as massive winter storm sweeps across U.S. - U.S. airlines canceled flights and waived change fees for travelers as a cold snap and massive winter storm were forecast to sweep across the country.
- Trump withdraws 'Board of Peace' invitation to Carney in widening rift with Canada - Trump said he has withdrawn the invitation to Canada to join the new Board of Peace, days after Carney's Davos speech warning against economic coercion by the superpowers.
- Rieder odds rising for Fed chair after Trump calls BlackRock executive 'very impressive' - Traders on the Kalshi predictions market raised the odds for Rieder getting the nomination to 33%
- Fed's main gauge shows inflation at 2.8% in November, edging further away from target - Inflation drifted slightly further from the Federal Reserve's target in November though in line with expectations.