In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
"The important thing is that you shouldn't try to hit homeruns this week, because you're much more likely to end up striking out," Jim Cramer says.Mad Money with Jim Cramerread more
Reps. Ilhan Omar, Ayanna Pressley, Alexandria Ocasio-Cortez and Rashida Tlaib said Trump challenged them personally because he was not able to defeat them on the policy level.Politicsread more
A financial disclosure made by lawyers for Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, reveals he has nearly $560 million in assets.Politicsread more
U.S. consumer prices fell for the first time in nine months in December amid a plunge in the cost of gasoline, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily.
The Labor Department said on Friday its Consumer Price Index dipped 0.1 percent last month, the first drop and weakest reading since March. The CPI was unchanged in November. In the 12 months through December, the CPI rose 1.9 percent after increasing 2.2 percent in November.
Excluding the volatile food and energy components, the CPI increased 0.2 percent, advancing by the same margin for a third straight month. In the 12 months through December, the so-called core CPI rose 2.2 percent, matching November's increase.
December's inflation readings were in line with economists' expectations. The Federal Reserve, which has a 2 percent inflation target, tracks a different measure, the core personal consumption expenditures (PCE) price index, for monetary policy.
The core PCE increased 1.9 percent year-on-year in November after rising 1.8 percent in October. It hit 2 percent in March for the first time since April 2012.
A sharp decline in oil prices amid an oversupply and slowing global economic growth is keeping overall inflation in check. Lower oil prices are also filtering through to core inflation via cheaper airline tickets.
While the Fed has forecast two rate hikes this year, moderate inflation pressures likely support recent statements by several policymakers, including Chairman Jerome Powell, for caution about raising interest rates this year.
Powell reiterated that view on Thursday, saying "especially with inflation low and under control we have the ability to be patient and watch patiently and carefully" while the central bank monitored economic data and financial markets for risks to growth.
Minutes of the U.S. central bank's Dec. 18-19 policy meeting published on Wednesday showed "many" officials were of the view that the Fed "could afford to be patient about further policy firming."
In December, gasoline prices dropped 7.5 percent after tumbling 4.2 percent in November. Food prices increased 0.4 percent, the biggest gain since May 2014, after rising 0.2 percent in November. Food consumed at home increased 0.3 percent in December after rising 0.2 percent in the prior month.
Owners' equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, advanced 0.2 percent in December after rising 0.3 percent in November.
Healthcare costs increased 0.3 percent last month after jumping 0.4 percent in November. The cost of hospital services surged 0.5 percent, but prices for prescription medication fell 0.4 percent and the cost of doctor visits was unchanged.
Apparel prices were unchanged in December after dropping 0.9 percent in the prior month. Airline fares tumbled 1.5 percent.