The penny coin is getting phased out, a cost-cutting move that could ripple through consumer behavior, retailers' pricing strategies and cash transactions.
The cost of child care in the U.S. just keeps climbing — a new report finds that prices rose 29% from 2020 to 2024, outpacing overall inflation.
Why it matters: Rising child care costs put a huge financial strain on families, forcing some parents — typically women — to either ratchet back their working hours or leave the labor force entirely.
The ownerof OnlyFans is in talks to sell the London-based social entertainment network, according to multiple reports.
OnlyFans owner Leonid Radvinsky is pursuing an $8 billion valuation in talks with investment firm Forest Road Company, reported Reuters, Bloomberg and Variety.
What to watch for: Whether OnlyFans — which gets much of its traffic from pornographic videos — can "overcome risks associated with hosting adult content," Bloomberg reported.
President Trump on Friday threw his support behind what he called a "planned partnership" between U.S. Steel and Japan-based Nippon Steel, calling it a job-creating deal.
Why it matters: The Biden administration had rejected Nippon's proposed acquisition of U.S. Steel under national security grounds — and Trump had also expressed opposition to an outright sale.
The Trump administration is fighting a federal judge's order barring it from laying off some federal workers until lawsuits challenging the firings are resolved.
Driving the news: A federal judge on Thursday shielded workers at 22 federal agencies from layoffs while the lawsuits proceed.
With a blast of early morning social media posts Friday, President Trump escalated the trade war that the White House had spent weeks reducing to a low boil.
Why it matters: It was a reminder that there will be no permanent trade peace in this administration, only trade war lulls of uncertain duration. That reality could keep financial markets on edge.
President Trump's threat to Apple — build the iPhone for Americans in America, or else pay a new 25% tariff — risks massively increasing the price you pay for your phone, one way or another.
Why it matters: No one wants to pay two or three times more for a smartphone, and Apple experts doubt that a transition to U.S. manufacturing is even possible without years of investment and planning.
President Trump's decision to prevent international students from studying at Harvard University could hurt America's economy by reducing the number of startup founders.
Why it matters: Trump is aiming at Harvard, but buckshot may hit the innovation engine that America needs to stay ahead of China.
