Business | Spectrum News 1

ECONOMY

ECONOMY

U.S. labor market continues to surprise as unemployment rate, against the odds, is falling

Hiring rose modestly from a revised 144,000 in May and beat economists expectations of fewer than 118,000 new jobs.

Nationwide1 hour ago

IMMIGRATION

IMMIGRATION

San Pedro Night Market postponed over ICE concerns

Discover San Pedro noted that the presence of federal agents has "caused understandable fear and unease, particularly within immigrant communities."

Los Angeles15 hours ago

BUSINESS

FILE -Francisco Luna collects shopping carts outside of a Ralphs grocery store in Los Angeles on Monday, Dec. 5, 2005. California sued the Ralphs supermarket chain on Thursday, Ded. 21, 2023, alleging that it violated state law by asking job-seekers whether they had criminal records and illegally rejecting hundreds of applicants (AP Photo/Kevork Djansezian, File)

BUSINESS

SoCal grocery workers reach tentative labor deal

The union workers had previously authorized a strike if a deal could not be reached.

Los Angeles17 hours ago

FINANCE

Specialist Patrick King works on the floor of the New York Stock Exchange, Tuesday, July 1, 2025. (AP Photo/Richard Drew)

FINANCE

U.S. stocks hit another record as Tesla and Nike rally

U.S. Stocks set an all-time high for the third time in four days.

Nationwide18 hours ago

POLITICS

President Donald Trump (AP Photo/Alex Brandon, File)

POLITICS

Trump announces trade deal with Vietnam that will let U.S. goods into the country duty-free

Vietnamese exports to the United States, by contrast, would face a 20% levy.

Washington, D.C.20 hours ago

BUSINESS

Microsoft announces another mass layoff, thousands of workers affected

The company said Wednesday that its latest layoffs would cut close to 4% of that workforce, which would be about 9,000 people.

Nationwide22 hours ago

BUSINESS

President Donald Trump and Tesla CEO Elon Musk speak to reporters as they sit in a red Model S Tesla vehicle on the South Lawn of the White House, March 11, 2025, in Washington. (Pool via AP, File)

BUSINESS

Tesla sales fell 13% in the last three months as anti-Musk sentiment still has an effect

Sales fell to 384,122 in April through June, down from 443,956 in the same period last year.

Nationwide1 day ago

POLITICS

President Donald Trump gestures after arriving on Air Force One, Wednesday, June 25, 2025, at Joint Base Andrews, Md. (AP Photo/Alex Brandon, file)

POLITICS

Trump promotes new 'limited edition' perfume and cologne in latest product to bear his name, likeness

Trump has also sought to boost sales of Trump-branded Bibles, guitars, sneakers and more.

Washington, D.C.1 day ago

TARIFFS

Federal Reserve Chairman Jerome Powell sits before an open meeting of the Board of Governors at the Federal Reserve, Wednesday, June 25, 2025, in Washington. (AP Photo/Mark Schiefelbein)

1:50

TARIFFS

Fed Chair Powell says interest rates remain 'on hold' as central bank monitors for impact of tariffs

The Fed chair said any effects of tariffs have not yet been apparent in economic data.

1:50

International1 day ago

INTERNATIONAL

Canada's Prime Minister Mark Carney and U.S. President Donald Trumps pictured before a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein)

INTERNATIONAL

Trump says he's ending trade talks with Canada over its 'egregious Tax' on technology firms

The digital services tax will hit companies like Amazon, Google, Meta, Uber and Airbnb with a 3% levy on revenue from Canadian users.

International5 days ago

FINANCE

Traders Ryan Falvey, left, and Robert Charmak work on the floor of the New York Stock Exchange, Friday, June 27, 2025. (AP Photo/Richard Drew)

FINANCE

U.S. stocks close at an all-time high just months after plunging on tariff fears

President Donald Trump's decision Friday to halt trade talks with Canada threatened to derail Wall Street's run to a record, but the market steadied.

New York State5 days ago

WILDFIRES

5:22

WILDFIRES

Malibu's make‑or‑break summer: Can the city bounce back after wildfire setbacks?

Local businesses are sounding alarm bells: If tourism doesn’t rebound in the next 10 weeks, many won’t make it to 2026.

5:22

Malibu5 days ago

TARIFFS

In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with U.S. Treasury Secretary Scott Bessent before their meeting to discuss China-U.S. trade, in London, Monday, June 9, 2025. (Li Ying/Xinhua via AP)

TARIFFS

Deal with Beijing will speed China's export of minerals to the U.S., treasury secretary says

The agreement comes after China retaliated against steep import tariffs imposed by the Trump administration on Chinese goods.

Washington, D.C.5 days ago

ECONOMY

A shopper considers large-screen televisions on display in a Costco warehouse Oct. 3, 2024, in Timnath, Colo. (AP Photo/David Zalubowski, File)

ECONOMY

Key inflation gauge rose last month while Americans cut back on spending

Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said Friday.

Nationwide5 days ago

FINANCE

A sign outside the New York Stock Exchange marks the intersection of Wall and Broad Streets, Tuesday, Jan. 28, 2025, in New York. (AP Photo/Julia Demaree Nikhinson, File)

FINANCE

U.S. stocks rise to the brink of a record and recover nearly all their 20% springtime drop

A The Wall Street Journal report said Trump could name his nominee to replace Fed Chair Jerome Powell unusually early, in an attempt to undermine him.

New York City6 days ago

BUSINESS

Vogue editor Anna Wintour attends The Metropolitan Museum of Art's Costume Institute benefit gala on May 6, 2019, in New York. (Photo by Charles Sykes/Invision/AP)

BUSINESS

Anna Wintour is seeking a new Vogue editor-in-chief but will maintain editorial control

The news shook the fashion world and Wintour-watchers on social media amid breathless headlines that Wintour was “stepping down” from Vogue.

New York City6 days ago

ECONOMY

Morehouse College students line up before the school's commencement ceremonies in Atlanta on May 19, 2024. (AP Photo/Brynn Anderson, File)

ECONOMY

College graduates face toughest job market in more than a decade as hiring slows

The unemployment rate for degree holders ages 22 to 27 has reached its highest level in a dozen years, excluding the coronavirus pandemic.

Nationwide6 days ago

POLITICS

President Donald Trump gestures after arriving on Air Force One, Wednesday, June 25, 2025, at Joint Base Andrews, Md. (AP Photo/Alex Brandon)

POLITICS

Key Medicaid provision in Trump's tax cut and spending bill is found to violate Senate rules

The guidance Thursday from the parliamentarian is rarely ignored, and it forces GOP leaders to consider options.

Washington, D.C.6 days ago

ECONOMY

A now hiring and help wanted sign is posted in Morrisville, Pa., Monday, June 9, 2025. (AP Photo/Matt Rourke)

ECONOMY

Fewer Americans sought unemployment benefits last week as layoffs remain low

Jobless claims dropped 10,000 to 236,000, a historically-low level.

Nationwide1 week ago

ECONOMY

A shopper pushes a cart past a display of soups in a Costco warehouse Thursday, Jan. 23, 2025, in Sheridan, Colo. (AP Photo/David Zalubowski, File)

ECONOMY

U.S. economy shrank 0.5% between January and March, worse than earlier estimates revealed

First-quarter growth sank under a surge of imports as companies in the U.S. rushed to bring in foreign goods before Trump could impose tariffs.

Nationwide1 week ago

BUSINESS

(Sarah A. Miller/Idaho Statesman via AP)

BUSINESS

SoCal grocery workers resume contract negotiations

For four months, seven Southern California United Food and Commercial Workers locals and their bargaining teams have been negotiating.

Los Angeles1 week ago

IMMIGRATION

2:35

IMMIGRATION

Community members providing assistance to local undocumented residents impacted by increased immigration enforcement in LA

Many undocumented street vendors are saying they’re afraid to leave their homes as immigration enforcement continues.

2:35

Westlake1 week ago

IMMIGRATION

3:10

IMMIGRATION

Pressure mounts on federal administration over businesses and places targeted by ICE

People and groups on both sides of the aisle calling out ICE targets.

3:10

Sacramento1 week ago

ECONOMY

Trader Edward McCarthy works on the floor of the New York Stock Exchange, Tuesday, May 20, 2025. (AP Photo/Richard Drew)

ECONOMY

U.S. stocks hang near their record as Wall Street takes a breath following two big days

Financial markets caught a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil.

Nationwide1 week ago

BUSINESS

Food 4 Less in Hawthorne, California. (Spectrum News/Joseph Pimentel)

BUSINESS

Kroger plans to close 60 U.S. stores in 18 months to improve profits

The company hasn’t said which stores it plans to shutter but said the closures will happen around the country.

Nationwide1 week ago

BUSINESS

The dating app Bumble on a smart phone, June 26, 2024, in New York. (AP Photo/Peter Morgan, File)

BUSINESS

Austin-based Bumble says it will cut 240 jobs, or about 30% of its global workforce

The dating app disclosed this decision in a securities filing this week, citing a need to realign its operations and focus on strategic priorities.

Philadelphia1 week ago

BUSINESS

BUSINESS

No more McDoughnuts: McDonald's and Krispy Kreme end partnership

McDonald's said Tuesday it is ending its partnership with Krispy Kreme on July 2, a little more than a year after it was announced.

North Carolina1 week ago

POLITICS

Striking hotel workers rally outside The LA Grand Hotel Downtown, Tuesday, July 4, 2023, in downtown Los Angeles. (AP Photo/Damian Dovarganes)

POLITICS

Labor union files two new voter initiatives zoning in on excessive CEO pay

Unite Here Local 11 has filed two citywide initiatives aimed at addressing "excessive CEO-to-worker pay ratios."

Los Angeles1 week ago

ECONOMY

Trader Patrick Casey, left, works on the floor of the New York Stock Exchange, Monday, June 23, 2025. (AP Photo/Richard Drew)

ECONOMY

U.S. stocks approach their all-time high as oil prices tumble

Oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude.

Nationwide1 week ago

ECONOMY

Federal Reserve Board Chairman Jerome Powell listens during a hearing of the House Committee on Financial Services on Capitol Hill, Tuesday, June 24, 2025, in Washington. (AP Photo/Mark Schiefelbein)

ECONOMY

Powell says Fed rate cut is on hold even as Trump demands cuts

Powell is facing two days of what could be tough grilling on Capitol Hill, as Trump has repeatedly urged the Fed to reduce borrowing costs.

Nationwide1 week ago

NEWS

NEWS

Texas, Oklahoma and Nevada make changes to lure business amid Delaware’s ‘Dexit’ concern

Texas, which opened a business court last year, approved giving businesses more legal protections against shareholder lawsuits.

Texas1 week ago

FINANCE

1:09

FINANCE

Stocks rally and oil tumbles as Wall Street hopes for a limited retaliation after U.S. strikes on Iran

Iran a major producer of crude and it could also try to block access to the Strait of Hormuz, where much of the world’s oil passes through each day.

1:09

New York City1 week ago

ENTERTAINMENT

ENTERTAINMENT

LA scores big in new round of California film tax credits

Gov. Gavin Newsom said 43 projects are independent films.

Los Angeles1 week ago

BUSINESS

In this Nov. 5, 2007, photo, production crew members work on a film set along Ventura Blvd., near to CBS Studios in the Studio City section of Los Angeles. (AP Photo/Richard Vogel)

2:54

BUSINESS

City of LA extends contract with FilmLA

Amidst opposition from advocacy groups, FilmLA's film and TV permitting contract has been renewed for another five years.

2:54

Los Angeles1 week ago

HOUSING

A for sale sign stands outside a residence in Chicago, Ill., Monday, Nov. 25, 2024. (AP Photo/Nam Y. Huh)

HOUSING

May home sales barely move as high mortgage rates, prices, weigh on housing market

The U.S. housing market has been in a slump since early 2022, when mortgage rates began to climb from pandemic-era lows.

Nationwide1 week ago

NEWS

A FedEx delivery person carries a package from a truck on Nov. 17, 2022, in Denver. (AP Photo/David Zalubowski, File)

NEWS

FedEx founder Fred Smith, a Marine Corps veteran who revolutionized package delivery, dies at 80

FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service.

Tennessee1 week ago

TESLA

Would you hail a 'robotaxi'? Musk bets cabs will give Tesla a lift after boycotts and sales plunge

Elon Musk's Austin, Texas, electric vehicle maker launches a test run in the city Sunday.

Austin1 week ago

BUSINESS

2:40

BUSINESS

How ICE activity in LA is impacting local businesses

As Immigration and Customs Enforcement officers continue to have a presence in Southern California, local businesses are feeling the impacts.

2:40

Boyle Heights1 week ago

TECHNOLOGY

This June 19, 2017 file photo shows a person working on a laptop in North Andover, Mass. (AP Photo/Elise Amendola, File)

TECHNOLOGY

Billions of login credentials have been leaked online, Cybernews researchers say

Cybernews researchers discovered 30 exposed datasets that each contain a vast amount of login information.

Nationwide1 week ago

TARIFFS

The Supreme Court is seen on Capitol Hill, Feb. 27, 2025, in Washington. (AP Photo/Rod Lamkey, Jr.)

TARIFFS

Supreme Court rejects toy company's push for a quick decision on Trump's tariffs

Learning Resources Inc. wanted the justices to take up the case soon, rather than let it continue to play out in lower courts.

Washington, D.C.1 week ago

BUSINESS

Steve Samson, executive chef and co-owner of Rossoblu, is hopeful that diners will return en masse now that curfew has been lifted. (Spectrum News/Nathalie Basha)