A federal appellate court on Friday upheld a lower-court ruling that invalidated most of President Trump's global tariffs,
The big picture: The ruling could complicate Trump's efforts to change the global trade order, cutting off a major source of cash for the government and leaving businesses struggling for answers.
A federal appellate court on Friday upheld a lower-court ruling invalidating the bulk of President Trump's sweeping global tariffs.
Why it matters: The ruling could quickly upend the global trade order Trump has built, cutting off a major new source of cash for the government and raising huge questions about what businesses are supposed to do next.
Spirit Airlines filed for Chapter 11 bankruptcy protection for the second time in less than a year, aiming to stay in business despite myriad business challenges that made it difficult for the company to compete.
Why it matters; The ultra-low-cost carrier has been grappling with underwhelming demand, excess capacity and too much debt.
COVID vaccines are no longer available at CVS stores in three states and available only with an authorized prescriber's prescription in 13 states and the District of Columbia, CVS told Axios on Friday.
Why it matters: Following Health and Human Services Secretary Robert F. Kennedy Jr.'s major curtailing of COVID vaccine eligibility on Wednesday, many Americans are left confused about whether and how they'll be able to get shots amid a surging "stratus" variant.
President Trump is pioneering a bespoke form of populism — championing workers against corporate elites on the one hand, and protecting big business on the other.
Why it matters: The unorthodox blend works for Trump and his deeply loyal MAGA base. But it leaves no clear blueprint for the movement's next leader, who will almost certainly lack his gravitational pull.
Federal Reserve governor Lisa Cook finished a whirlwind week with uncertainty over her job status as one of the nation's top economic policymakers.
Why it matters: A federal court is expected to rule soon on whether Cook can keep her job as a historic legal battle runs its course, but the first hearing ended on Friday with no clear decision on the matter.
The big picture: Fletcher Merkel, 8, and Harper Moyski, 10, were killed when a shooter opened fire Wednesday at Annunciation Catholic School during Mass. Also injured were 18 other worshippers.
Home utility bills are poised for a high profile in the battle to control Congress — but turning energy costs into political gain is easier said than done.
Why it matters: Democrats see an opening to transform power prices into political baggage for Republicans in the 2026 midterm elections.
Nvidia's otherwise stellar earnings were clouded by one thing: export controls, which were overturned only after the company agreed to give a 15% cut of China chip sales back to Uncle Sam.
Why it matters: It's the latest example of President Trump inserting himself into the private sector as chairman of all boards, regardless of the impact that has on free markets.
Electricity prices are surging across the country as a perfect storm of aging equipment and AI demand slams the nation's grid.
Why it matters: Paying more to keep air conditioners, laptops and other electronics running is straining household budgets as Americans deal with other rising costs.
Nvidia closed the door on the Magnificent 7's earnings season with a whimper. But the results in total left investors overly bullish.
Why it matters: Nvidia's earnings results may not have been good enough for its own shareholders. But billions of dollars in AI spending commitments will be enough to sustain the broader tech rally, strategists say.
Tariffs on small packages from around the world went into effect early Friday morning, with the end of the "de minimis" exemption on postal shipments to the U.S. worth less than $800.
Why it matters: Dozens of national postal services have stopped shipping to the U.S. altogether, because they say the government's new trade regime is simply too hard to decipher or implement.
