Economy

Courtney Keating | Getty Images Mortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing. Homebuyers, however, seemed unimpressed. Applications to refinance a home loan jumped 15% last week, compared with the previous week, to the highest level since August 2022, according to the Mortgage Bankers Association’s seasonally adjusted […]

A photo showing the logo of Swiss pharmaceutical giant Roche in Basel. SEBASTIEN BOZON | AFP | Getty Images Novo Nordisk and Eli Lilly shares slid Wednesday after Roche announced promising early-stage trial data from its latest obesity drug candidate. The Swiss pharmaceutical giant said Wednesday that a second drug candidate from its purchase of […]

Alexander Spatari | Moment | Getty Images U.K. inflation held steady at the Bank of England’s 2% target in June, Official National Statistics data showed Wednesday. The headline reading came in above analyst expectations at 1.9%, according to economists polled by Reuters, and was in line with the previous 2% reading in May. Sterling rose […]

Global chip stocks fell sharply, with ASML , Nvidia and TSMC posting declines amid reports of tighter export restrictions from the U.S. and a ramp-up of geopolitical tensions fueled by comments from former U.S. President Donald Trump. ASML’s Netherlands-listed shares were down 11%, while Tokyo Electron shares in Japan closed nearly 7.5% lower. Arm […]

Novo Nordisk’s Wegovy weight loss drug has seen a meteoric rise in popularity. Nurphoto | Getty Images Novo Nordisk on Wednesday said it will offer its weight loss drug Wegovy for less than half of its usual price per month through a new direct-to-consumer online pharmacy. The cash-pay offering is available to millions of patients […]

PresidentDonald Trump said Tuesday that the United States would take control of Greenland “one way or the other,” escalating months of increasingly aggressive rhetoric toward the self-governing Danish territory. Addressing ajoint session of Congress in Washington, Trump said he had “a message tonight for the incredible people of Greenland.” “We strongly support your right to […]

Published Wed, Mar 5 2025 8:43 am is […]

An Abercrombie & Fitch store stands in midtown Manhattan in New York City on Oct. 24, 2024. Spencer Platt | Getty Images Abercrombie & Fitch ‘s growth story is starting to slow down. Shares of the apparel retailer plummeted 15% on Wednesday after the company issued weaker-than-expected guidance for its current quarter and fiscal 2025 […]

BARCELONA — Apple co-founder Steve Wozniak criticized the “sledgehammer” approach Elon Musk’s Department of Government Efficiency has taken to cut administrative costs and implement mass firings at federal government agencies. The Department of Government Efficiency — or “DOGE,” for short — is an initiative President Donald Trump set up to optimize the federal government and […]

David Sacks, U.S. President Donald Trump’s “AI and Crypto Czar”, speaks to President Trump as he signs a series of executive orders in the Oval Office of the White House on Jan. 23, 2025 in Washington, DC. Anna Moneymaker | Getty Images The Trump-tech alliance is showing its first real sign of distress. And it’s […]