Author: Leslie Stewart

American consumers have been pessimistic for so long that economists are now wondering when, or if, households will become financially wealthy.According to preliminary figures released last week, the University of Michigan Consumer Survey, which is closely watched as a leader, hit an all-time low in May. This is just one of several consumer polls showing that Americans have never regained confidence in the U.S. economy since the coronavirus pandemic began more than six years ago.Economists told CNBC that even though annual inflation rates have fallen, consumers are still feeling the scars of years of sharp price increases. On top of…

IE11 is not supported. For the best experience, please visit our site in a different browser.President Trump says the US and China have a ‘great relationship’ during summit meeting02:11Currently playing’We should be partners, not rivals’: Chinese President Xi Jinping begins bilateral talks01:20to the nextHonor guard and schoolchildren greet Trump and Xi at arrival ceremony in Beijing01:34President Trump shakes hands with President Xi at the beginning of historic US-China summit03:02President Trump arrives in China for high-stakes summit02:44President Trump arrives in China for high-stakes summit with Xi07:42Beijing residents express skepticism over President Trump’s arrival in China01:08President Trump heads for high-stakes summit in…

The South Carolina Supreme Court on Wednesday threw out disgraced attorney Alex Murdaugh’s double murder conviction and life sentence and ordered a new trial for the murders of his wife and son.Subscribe to read this story without ads Get unlimited access to ad-free articles and exclusive content.In the latest development in a tortuous legal saga, the state Supreme Court ruled that Murdaugh was denied his right to a fair trial because of Colleton County Court Clerk Rebecca “Becky” Hill’s “improper outside influence on the jury.””Mr. Hill has put his finger on the scales of justice,” the court wrote in a…

Wholesale prices in April recorded the highest annual rise in more than three years, suggesting inflation will worsen as pipeline costs soar.The producer price index rose a seasonally adjusted 1.4% for the month, well above the Dow Jones consensus estimate for a 0.5% rise and an upwardly revised 0.7% rise in March, the Bureau of Labor Statistics said Wednesday. This was the largest monthly increase since March 2022.On an annual basis, the index rose 6%, the largest increase since December 2022.Core PPI, which excludes food and energy, accelerated by 1% compared to the expected 0.4%. PPI, which excludes food, energy…

A federal appeals court ruled this week that President Donald Trump does not have to pay author E. Jean Carroll $83 million in defamation damages until the Supreme Court reconsiders the case or decides to prosecute.Subscribe to read this story without ads Get unlimited access to ad-free articles and exclusive content.New York’s 2nd Circuit Court of Appeals issued the order on Monday after President Trump asked to suspend an earlier ruling that denied him an opportunity to challenge the defamation ruling on appeal.The court granted Trump’s request to suspend the sentence, saying there was no objection from Carroll as long…

The prices consumers pay for a wide range of goods and services rose faster than expected in April, as further spikes in energy prices further heightened concerns about the impact of inflation on the U.S. economy.The Consumer Price Index rose a seasonally adjusted 0.6% in the month, bringing the yearly pace to 3.8%, the Bureau of Labor Statistics said Tuesday. The monthly rate was in line with expectations, but the annual rate was 0.1 percentage point above the Dow Jones consensus. Excluding food and energy, core CPI rose 0.4% and 2.8%, respectively, and inflation remained well above the Fed’s 2%…

American consumers are blaming the Iran war for the recent spike in inflation. But data shows that prices are rising in many areas, not just energy.The Consumer Price Index rose a seasonally adjusted 0.6% in April, bringing the 12-month inflation rate to 3.8%, the Bureau of Labor Statistics said Tuesday. Annual inflation is currently running at its highest level in nearly three years.”Consumers are doing their best to absorb higher energy costs, but they haven’t found much other relief,” said Brett Kenwell, U.S. investment analyst at eToro. “Inflationary pressures are not just occurring at the pump, they are appearing throughout…

A customer shops for produce at a HEB grocery store on May 11, 2026 in Austin, Texas. Brandon Bell | Getty ImagesTraders on Tuesday moved away from expectations that the Federal Reserve would cut interest rates, and actually began betting that its next move would be more likely to be a rate hike.CME Group’s FedWatch 30-day federal funds futures trading tracker says market prices have accounted for virtually all possible declines between now and the end of 2027, following better-than-expected inflation reports.In fact, there are growing expectations that concerns about the cost of living are greater than concerns about the…

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SAN DIEGO — U.S. Customs and Border Protection announced that 27 cruise ship employees, including employees of Disney Cruise Line, have been deported for their involvement in child pornography.Subscribe to read this story without ads Get unlimited access to ad-free articles and exclusive content.The discovery was made last month after CBP officers boarded eight cruise ships between April 23 and 27 as part of an ongoing Child Sexual Exploitation Material Investigation (CSEM), a CBP spokesperson said in a statement Monday.A spokesperson said authorities determined that 27 of the 28 crew members interviewed were “involved in either receiving, possessing, transporting, distributing,…