President Trump said Saturday the U.S. will treat value added tax (VAT) systems the same as tariffs, for purposes of helping to calculate the reciprocal levies on other countries he ordered earlier this week.
Why it matters: At least 175 countries globally have a VAT, per the Organisation for Economic Co-operation and Development (OECD), meaning it could impact the math on any reciprocal tariff for most nations around the world.
Only 13 U.S. states send more money to federal government coffers than they receive, a recent analysis found.
Why it matters: The Trump administration's push for states to be more financially independent brushes up against the reality that many depend on federal money for everything from disaster relief to food aid.
Despite decades of desegregation efforts, Black parents in the U.S. still face challenges in choosing where to send their kids. They often find their choices lack racial diversity or funding.
Why it matters: Schools with students and teachers from diverse backgroundsbest prepare students for thediverse world, experts said, but schools have become increasingly more segregated since the '90s.
Sales of pickup trucks and SUVs might have peaked in the United States — not because Americans don't want them, but because many people can no longer afford them.
Why it matters: Affordability is a growing concern, not just for car buyers, but also for stressed-out automakers facing heightened economic uncertainty and potential supply chain disruptions since President Trump took office.
Why it matters: Stadium tour ticket releases that mirror the Hunger Games are par for the course for fans of mega stars. But seeing neighboring tickets go for wildly varying prices infuriated some in the Beyhive.
The Trump administration over the past two days has fired thousands of federal workers with jobs reportedly ranging from wildfire prevention to medical research.
Why it matters: A mass firing on this scale is unprecedented — and will likely vastly reshape the way the federal government works, or doesn't, for many years to come.
Trump Media & Technology Group, the parent company of Truth Social, on Friday reported just $3.6 million in sales for all of 2024 and an operating loss of $186 million.
Why it matters: President Trump's election doesn't seem to be helping the financial fortunes of his namesake company, which generated more revenue in 2023 than in 2024.
OpenAI's board has unanimously rejectedElon Musk's $97.4 billion takeover offer, with chair Bret Taylor calling it an "attempt to disrupt his competition."
Why it matters: This was expected, given that OpenAI CEO Sam Altman had previously said the company isn't for sale, but nonetheless was a sharp rebuke of the world's richest man.
What OpenAI is saying, per a letter sent to Musk's attorney:
"Earlier this week, you sent a letter on behalf of a consortium of corporate and financial entities offering to acquire all of the assets of OpenAI, Inc. ("OAI"), and to do so imminently, subject to numerous conditions. Two days ago, you filed a pleading in court adding new material conditions to the proposal. As a result of that filing, it is now apparent that your clients' much-publicized 'bid' is in fact not a bid at all."
OpenAI's board has unanimously rejected Elon Musk's $97.4 billion takeover offer, with chairman Bret Taylor calling it an "attempt to disrupt his competition."
Why it matters: This was expected, given that OpenAI CEO Sam Altman had previously said the company isn't for sale, but nonetheless was a sharp rebuke of the world's richest man.
Morgan Stanley and other lenders to Elon Musk's Twitter takeover yesterday reportedlysold around $4.7 billion of X debt at face value.
Why it matters: This blows away expectations for the deal, in terms of both volume and pricing, and leaves creditors with only around $1.3 billion of their $12.5 billion outlay.
The Trump trade war has blown past the realm of tariffs. The White House plans to hit back at any measure undertaken by trading partners that it believes disadvantages U.S. exporters.
Why it matters: The Trump administration is ushering in a new era in which trade policy is managed country by country, using sweeping tariffs as the tool to address what officials call unfair trade dynamics.
Retail sales fell 0.9% in January,the steepest drop in nearly two years, as consumers were held back by California wildfires, unusually frigid conditions, and uncertainty around the outlook for tariffs.
Why it matters: Consumer spending has been the bedrock of the economic expansion over the last few years, and a meaningful deterioration would put growth at risk.
The office is back: The share of people who reported working mostly in-person doubled in 2024 from the previous year, according to a survey from McKinsey released Friday morning.
Why it matters: With hiring slowing, and workers feeling stuck, employers are using their newly strengthened upper hand to finally get what they want: butts in seats.
Searching for a partner? Consider Baltimore, the Bronx or Washington, D.C. — three areas with especially high shares of unmarried 20-and-older residents.
Why it matters: Chocolate treats are expected to increase 10 to 20% for the holiday and throughout 2025, David Branch, sector manager at Wells Fargo Agri-Food Institute, tells Axios.
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