Breaking News: Business
- Trump's South Korea tariff cuts are major boost for Hyundai and GM - The Trump administration said the tariff rate for vehicles from South Korea will drop to 15% as part of a trade deal.
- Trump administration to announce new fuel economy standards Wednesday, sources say - The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards.
- Macy’s posts strongest growth in more than 3 years, but strikes cautious note on holidays - RetailMacyâs posts strongest growth in more than 3 years, but strikes cautious note on holidaysPublished Wed, Dec 3 20256:57 AM ESTMelissa Repko@in/melissa-re
- Holiday shopping turnout jumps to 202.9 million people during Thanksgiving weekend, NRF says - Shoppers said they were motivated by sales and promotions, such as limited-time offers, according to the trade group's annual survey.
- OpenAI is under pressure as Google, Anthropic gain ground - Sam Altman reportedly sent a memo to his staffers outlining a "code red" effort to improve ChatGPT.
- Apartment rents drop further, with vacancies at record high - A good supply of new multifamily units is coming online at a time of much weaker demand.
- Michael and Susan Dell to donate $6.25 billion to fund Trump Accounts for 25 million U.S. kids - The billionaire CEO of Dell Technologies told CNBC he first heard of the idea of seeding accounts from hedge fund manager Brad Gerstner.
- Costco sues for Trump tariff refunds before Supreme Court rules on if they're illegal - Costco joins dozens of other companies that are seeking to protect their rights to refunds of Trump's tariffs without first waiting for the Supreme Court.
- Eli Lilly cuts cash prices of Zepbound weight loss drug vials on direct-to-consumer site - The announcement comes weeks after President Donald Trump inked deals with Eli Lilly and Novo Nordisk to make their GLP-1 drugs easier for Americans to access.
- Airbus shares fall on reports of new quality issue on dozens of A320 aircraft - Shares of Airbus plunged to the bottom of the pan-European Stoxx 600 index on Monday morning.