Business

Business

Ford Collects $1.3 Billion Federal Refund After Supreme Court Strikes Down Trump Tariffs

Ford Motor expects $1.3 billion government refund from tariffs struck down by Supreme Court in February. Detroit automaker raises guidance by $500 million.

Business

Powell Stays at Fed Board Until Investigation Ends — Senate Approves Warsh

Federal Reserve Chair Jerome Powell will remain on the central bank's board after his May 15 term expires until a DOJ investigation into office renovation costs concludes.

Business

Fed Expected to Hold Rates Steady as Powell's Criminal Probe Gets Dropped

Federal Reserve announces rate decision Wednesday as Jerome Powell's term nears end. DOJ dropped criminal probe over renovation testimony, clearing Warsh nomination.

Business

Powell Could Stay at Fed Despite Chair Term Ending — Setting Up Trump Standoff

Fed Chair Jerome Powell delivers final press conference Wednesday as his term expires May 15, but could remain as governor until 2028, escalating tensions with Trump.

Business

Senate Banking Committee Set to Vote on Warsh for Fed Chair as Powell Era Ends

The Senate Banking Committee votes Wednesday on Kevin Warsh's nomination to replace Jerome Powell as Fed chairman, with rates expected to hold steady.

Business

US Sanctions China's Second-Largest Teapot Refinery for Iran Oil Deals

Treasury targets Hengli Petrochemical refinery, claiming it generated hundreds of millions for Iran's military through crude oil purchases from Tehran.

Business

Oil Hits $106 as Trump Seals Hormuz Strait — Iranian Ships Challenge Blockade

Brent crude tops $106 per barrel as President Trump orders Navy to control all Strait of Hormuz traffic while Iran seizes foreign vessels in escalating standoff.

Business

Trump Pushes Private Equity, Crypto Access in 401(k)s Despite Risk Warnings

Trump administration moves to expand alternative investments in retirement accounts as financial experts warn of volatility and complexity risks for workers.

Business

Trump Eyes $500M Spirit Airlines Bailout in Exchange for Ownership Stake

Trump administration in advanced talks with Spirit Airlines for $500 million bailout loan with government warrants allowing ownership stake in struggling carrier.

Business

Trump Admin Opens $166B Tariff Refund Portal After Supreme Court Defeat

U.S. Customs launched CAPE system Monday to refund $166 billion in tariffs struck down by Supreme Court in February. Refunds expected within 60-90 days.

Business

USS Spruance Fires on Iranian Ship in Hormuz — Oil Surges 7.5%

USS Spruance fired on Iranian-flagged cargo ship Sunday trying to evade US naval blockade in Gulf of Oman. WTI crude jumped to $90.17 per barrel.

Business

BBC Analysis Shows Trading Spikes Before Trump Announcements Spark Insider Trading Claims

BBC finds consistent pattern of unusual trades minutes before Trump's major announcements on Iran war and tariffs, with analysts calling it potential insider trading.