Business News

Business news, economic coverage, market commentary.

WASHINGTON - President Donald Trump launched a furious and highly personal Twitter attack Friday against the Federal Reserve and Chairman Jerome Powell, fuming that the Fed once more "did NOTHING!" and wondering who is "our bigger enemy" Powell or China's leader.

The outburst came after Powell, speaking to central bankers in Jackson Hole, Wyoming, gave vague assurances that the Fed "will act as appropriate" to sustain the nation's economic expansion. While the phrasing was widely seen as meaning interest rate cuts, he offered no hint of whether or how many reductions might be coming the rest of the year.

12 hours ago

CHICAGO - Health officials said Friday that an Illinois patient who contracted a serious lung disease after vaping has died and that they consider it the first death in the United States linked to the smoking alternative that has become popular with teens and young adults.

The Illinois Department of Public Health the adult patient was hospitalized after falling ill following vaping, though it didn't give other information about the person, including the patient's name, age, hometown or date of death.

18 hours ago

NEW YORK - Walmart said Friday that is working on a resolution with Tesla after the retailing giant sued the electric car company's energy division for installing rooftop solar panels that caught fire.

In the lawsuit filed Tuesday, Walmart said Tesla installed solar panels that went up in flames on seven of its store rooftops between 2012 and 2018, causing millions of dollars in damage.

18 hours ago

SEATTLE - A U.S. judge on Friday ordered a woman accused of hacking Capital One and at least 30 other organizations to remain in custody pending trial because she is a flight risk and poses a physical danger to herself and others.

At a hearing in Seattle, U.S. Magistrate Judge Michelle Peterson said Paige Thompson's "bizarre and erratic" behaviour makes her a risk. The judge also said Thompson has no stable employment, residence or ties to the community and has stated that she wanted to die.

18 hours ago