Economy
Tesla to wind down Cybertruck production at Texas factory next year to make room for Cybercab
Elon Musk says Tesla will wind down Cybertruck production at Gigafactory Texas by mid-2027 to make room for increased Cybercab robotaxi output.
News desk
Politics and economy, as it breaks
Headlines from 16 outlets, grouped by story and updated every few minutes. Open a story to comment, share it to the feed or chat, or read it in full at the source.
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Democrats plan to fight Trump’s Canada tariffs once they’re back in control of Congress: report
Democrats are planning to fight President Trump's tariffs once they assume control of Congress in January, hoping to win some Republicans to the cause, according to a report.
Mortgage rates drop and stocks rebound slightly
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy The Big Story Mortgage rates drop and stocks rebound slightly Mortgage rates declined for the third straight week, while stocks rallied on Friday after…
Anthropic president Daniela Amodei told wedding guests to fantasize about ‘romantic hookups’ with stuffed animals
Anthropic's President Daniela Amodei made stuffed animals a bizarre part of her wedding in 2017 – instructing guests to come up with “romantic hookups” between the toys and encouraging attendees to talk to inanimate objects such as chairs.
Companies urged to adapt as restaurant franchisee files for bankruptcy: 'Businesses want to make excuses'
Marcus Lemonis urges businesses to adapt to rising costs rather than "make excuses" after an Outback Steakhouse franchisee filed for bankruptcy with $449 million in debt.
‘I have no financial safety net’: I’m 66, rely on Social Security and have just $500 in savings. What hope do I have?
“Sometimes I wonder whether wealthier Americans should trade places with people like me.”
Elon Musk opens the door for a big SpaceX acquisition
The rocket and satellite-internet company is looking to challenge telecom giants.
Data centers run on debt. That was a problem for bonds this year — and it’s only going to get worse.
AI debt issuance this year overwhelmed investor portfolios, and has disappointed from a performance perspective. The funding need won’t get any better with Democrats in control of Congress.
Nvidia, AMD and other chip stocks rebound — but is relief from the ‘violent’ selloff only temporary?
Analysts warn of further volatility ahead, although there are several new factors that work in the AI trade’s favor.
‘It seems bizarre’: We’re in our 80s with $950,000 in traditional IRAs. Why is our adviser pushing Roth conversions?
“Our basic living expenses are covered by $110,000 in annual pensions and Social Security.”
‘It feels like he’s quietly building a separate life’: My husband inherited $500,000, but he refuses to spend it on our home
“Our kitchen dates from 1999 and the oven only works if you hit the door a certain way.”
Micron’s stock is dirt cheap — and that’s igniting a fierce online debate
Valuation purists see a ridiculously inexpensive stock, but some semiconductor investors say Micron’s earnings power won’t hold up.
My 93-year-old father changed his will at the 11th hour, leaving my brother his entire $500,000 estate. Can I challenge it?
“My brother had no job and needed a place to live.”
A disturbing employment trend is hiding beneath the latest strong job numbers
The average jobless worker's bout of unemployment surpassed 27 weeks in October, the highest outside of the pandemic period in a decade.
Barbie sales are down as kids clamor for new batch of toys
Sales of the iconic doll were down 9% in Mattel's most recent quarter, the toy giant reported earlier this week Thursday. It was the third consecutive quarter Barbie sales were down -- and the ninth since 2023's blockbuster movie starring…
Cybertruck’s run comes to an end as Musk kills off pricey pet project
The Cybertruck failed to catch on with car buyers due to high prices and some notable recalls.
My adviser recommended an annuity. Is it the right move in this market environment?
“I haven’t committed to the strategy yet and would appreciate some independent perspectives.”
AMC CEO says movie theater giant has finally 'recovered' from pandemic-era struggles
AMC Entertainment CEO Adam Aron declared the company has finally recovered, posting record revenue and adjusted EBITDA for a second straight quarter.
IRS releases new tax brackets, raises standard deductions — see what your 2027 tax rate will be
The Internal Revenue Service has released new tax brackets for 2027, raising income thresholds for each level due to inflation.
Scientist stole trade secrets from startup that wants to bring back extinct species: bombshell suit
The futuristic startup said it has so far succeeded in creating “woolly mice” that bear woolly mammoth traits and gray wolves similar to the extinct dire wolf.
US Job Growth Surges in October; Unemployment Rate Falls to 4.1%
WASHINGTON, Nov 6 (Reuters)—U.S. job growth accelerated in October and the unemployment rate fell to 4.1%, suggesting that the labor market could be strengthening after stumbling in mid-summer and keeping the Federal Reserve on track to…
US employers surprisingly add 165K jobs in strong October, unemployment dips
Payrolls jumped by 165,000 jobs last month after an upwardly revised 60,000 gain in September, the Labor Department's Bureau of Labor Statistics said on Friday.
The Incredible Irony of Dems Winning on High Gas Prices
From the Keystone XL pipeline cancellation to carbon tax proposals, Democrats have a long history of policies that have driven gas prices higher.
Red states have spent decades dominating a key corner of the economy — will the blue wave change that?
The "Crazy Rich Texans" trend is backed by data as a study of 24,000 transactions shows red states outpacing blue states in real estate returns.
U.S. posts huge jobs report in October, adding 165,000 positions
The U.S. added 165,000 jobs in October, blowing away expectations, the government said in its first major economic release after the midterms.
Nasdaq rallies as chip stocks recover from brutal losses
The Nasdaq closed higher after AI and chip stocks dragged it into correction territory in the prior session amid fears over the midterm election results' impacts on regulation.
US economy adds 165,000 jobs in October, blowing past expectations
The Labor Department released the October 2026 jobs report on Friday which showed employers added 165,000 jobs amid economic uncertainty.
The latest twist in the saga between UBS and Swiss regulators involves bank’s New York business
Wall Street tongues are wagging that the bank could finally ditch its UBS Americas unit.
Asian stock markets plunge as Japan Nikkei, South Korea KOSPI and Taiwan stocks fall
South Korea's KOSPI plunged over 8%, triggering a trading halt, while Japan's Nikkei and Taiwan's stock index fell sharply amid AI stock selling.
Anthropic’s IPO timing threatened by AI backlash, historic tech rout
Investors are pushing for a more attractive valuation to commit to the offering, with some viewing the recently discussed $1.5 trillion valuation as being at the high end of expectations.
Lesley Stahl defends decision to stay at ‘60 Minutes’ under Bari Weiss: ‘I myself have been under attack’
Longtime "60 Minutes" correspondent Lesley Stahl defended her decision to stay at the show under CBS News boss Bari Weiss -- out of "fear" that the iconic news program would "vanish" if she and a handful of other veterans left.
The key to understanding the post-election market gyrations is White Castle
The carnage might not end anytime soon. "We're setting up for a market bottom," one CEO told On The Money.
What’s fueling Wall Street’s growing concerns about AI?
A sharp sell-off has put a spotlight on the risks facing the AI boom, from heavy spending and borrowing to power constraints and political uncertainty.
Lefty digital news site Salon closes after 31 years
Salon.com, the digital news site known for its political and cultural commentary, said Thursday it is closing up after 31 years.
Wall Street sees biggest market cap drops ever after midterm bloodbath for GOP
S&P 500 firms shed $2.9 trillion in market value and Nasdaq companies lost $2.5 trillion – both single-day records.
What Wall Street's tech stock sell-off means for your 401(k)
A sharp stock market sell-off sent major indexes tumbling Thursday, prompting financial experts to offer advice for Americans worried about their 401(k) retirement savings.
The October jobs report is out Friday. Here's everything to expect
The Bureau of Labor Statistics releases the October nonfarm payrolls report Friday at 8:30 a.m. ET.
Here’s how CVS’ breakup of its pharmacy and insurance empire could affect consumers
CVS' recent decision to divide its retail pharmacies from its insurance and pharmacy-benefit operations has raised hopes of consumer savings as Americans continue to reel from high costs of living.
California restaurant closes after 30-year run when landlord surprises them with bad news
The city's real estate boom appears to have claimed another victim.
Stocks plunge as Dem midterm sweep fuels AI regulatory concerns
Wall Street suffered steep losses as investors reassessed the outlook for the AI boom following Democrats' sweeping midterm election victories.
McDonald's plans new value menu offerings next year to boost sluggish sales
McDonald's is testing new value menu constructs in 1,900 restaurants, with CEO Christopher Kempczinski eyeing a national launch in early 2027.
Voters say the economy drove them to the polls — and blame Trump for their troubles
Participants in the CNBC Voter Poll ranked the economy the most important issue facing the country, ahead of topics tied to democracy and immigration.
Bank of England hikes interest rate for the first time since Iran war, warns inflation will near 5%
One policymaker voted to raise the bank's key interest rate to 4.25%.
Here's what the Democratic election rout could mean for the U.S. economy
The biggest forces shaping the economy aren't going to change just because the party in power did.
Trump admin names new economic Opportunity Zones to spur private investment in struggling communities
The Treasury Department and IRS announced 6,576 new Opportunity Zones nationwide, including thousands of rural communities, as the tax incentive program enters a new era.
Analysis: The Democrats have one chance to extract concessions from Trump. Markets will hate it
The next debt-ceiling confrontation could reverse Washington's traditional political roles, raising the possibility of spending concessions, market volatility and a damaging default.
Canva to restructure operations, affecting 22% of workforce as growth slows
Canva CEO Melanie Perkins announced a major restructuring affecting 22% of employees, including layoffs, team consolidation, relocation requests and office changes.
Private sector added 86,000 jobs in October, above expectations, ADP says
The figure reported on Wednesday is above economists’ estimates of an increase of 69,000 jobs. The prior month's reading was revised lower to 86,000.
Euro zone inflation hits 4% for first time in three years as interest rate hike looms
It was driven by energy inflation, which surged above 20% in October.
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