Meta said Thursday it would cut about 8,000 jobs, or roughly 10% of its workforce, as the company pushes further into artificial intelligence spending while trying to improve efficiency. The company said the reductions are meant to free up resources for new investments in other parts of the business. Bloomberg also reported that Meta plans to leave about 6,000 positions…
A Familiar Strategy: Attack The Messenger President Donald Trump rejected July’s disappointing employment figures by casting doubt on the numbers and removing the official who oversees them. After the Bureau of Labor Statistics reported a sharp slowdown in hiring and downward revisions to prior months, Trump called the figures “phony” and moved to oust the commissioner who supervised the process.…
End of Duty-Free Shopping for Low-Cost Imports The Biden administration has moved to close a major trade loophole used by global e-commerce giants like Shein and Temu, eliminating the “de minimis exemption” that allowed duty-free entry for goods valued under $800. Originally scrapped for China and Hong Kong in May, the exemption will now end for all countries starting August…
Jobs Growth Cools And Prior Months Revised Lower U.S. employers added 73,000 jobs in July, a sharp slowdown that undercut expectations and signaled a cooler labor market. Just as notable, the Labor Department’s revisions wiped out a combined 258,000 jobs previously reported for May and June, recasting the summer hiring picture as much weaker than believed. The unemployment rate rose…
Surging AI Momentum and Cloud Growth Drive Historic Milestone Microsoft reached a historic $4 trillion market valuation on Thursday, becoming the second company ever to do so after a strong earnings report and renewed investor confidence in its AI and cloud businesses. Shares of the tech giant rose nearly 4.5% in early trading, pushing its intraday value to $4.01 trillion.…
On Wednesday, July 30, 2025, the White House said the United States will impose a 25% tariff on all goods from India beginning Friday, Aug. 1, and will add an extra import “penalty” tied to India’s purchases of Russian oil and military equipment. The administration has not yet specified the size of that additional levy; officials said those Russia‑related rates…
Initial Success Gives Way to Rising International Tension President Donald Trump’s trade policies, once dismissed as reckless, have delivered surprising short-term gains. Customs revenues have surged, inflation remains relatively stable, and many global trading partners have accepted steep new U.S. tariffs with limited retaliation. Several framework deals struck by the Trump administration have opened foreign markets to American goods while…
