Washington — The Supreme Court on Friday upheld the Federal Communications Commission’s multi-billion-dollar mechanism for expanding phone and internet access to rural and low-income communities. The high court ruled that neither Congress nor the FCC violated the Constitution with its chosen scheme for administering the Universal Service Fund, which is supported by contributions from communications…
The personal consumption expenditures price index, or the PCE, inched higher in May, the latest sign that inflation remains stubbornly above the Federal Reserve’s 2% annual target. Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, according to the PCE data. Excluding the volatile food and energy categories,…
The U.S. and China have agreed on the framework for a trade deal, both nations say. President Trump said at a White House event Thursday that Washington and Beijing had signed an agreement on trade, adding that he expects to have a deal with India soon. But Beijing and the White House later referred to…
Billionaire Amazon founder Jeff Bezos and former journalist Lauren Sánchez are getting married in Italy this weekend, and a star-studded list of celebrities was seen arriving in Venice for the first planned events on Thursday. While the ceremony itself is set for Saturday at an undisclosed location, movie stars, TV personalities and business titans were…
The S&P 500 is approaching a record high, marking a stunning turnaround from April when stocks nosedived after President Donald Trump unveiled a flurry of tariffs on so-called “Liberation Day.” The S&P 500 has jumped 23% since closing at its 2025 low on April 8. On Thursday, it closed up 9 points, or 0.8%, to…
Anna Wintour, the long-time global editorial director of Vogue, is stepping down from her role at the fashion publication, according to industry trade publications. Vogue U.S. is now seeking a new head of editorial content, Women’s Wear Daily reports. Fashion Weekly Daily also reported that Wintour plans to step down. Wintour, 75, will retain her…
Advice for students to navigate job market stress and student loan struggles for recent grads – CBS News Watch CBS News As young Americans struggle with job prospects and loan repayment, CBS News business analyst Jill Schlesinger shares tips to ease financial stress and stay on track. Be the first to know Get browser notifications…
The U.S. economy shrank faster than previously thought during the first three months of 2025, with growth contracting for the first time in three years. The country’s gross domestic product fell at an annual rate of 0.5% from January through March, the Commerce Department reported Thursday in its third and final GDP report for the period….
The Republican budget package aims to make President Donald Trump’s tax cuts permanent while offering a host of new financial breaks. Yet the “big, beautiful bill,” as the legislation is dubbed, could also effectively transfer wealth from younger generations to older Americans over their lifetimes, a recent study finds. Long-term, the primary beneficiaries of the GOP bill…
Fortnite gamers who were charged for unwanted purchases while playing the online video game could receive a slice of the $126 million in refunds the Federal Trade Commission is sending out this week. The regulatory agency is reopening the claims submission process for gamers who are eligible for a refund under a $245 million settlement…
