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The Latest Breaking News on Business

Fed officials warn AI's economic costs may arrive faster than benefits

Some Fed officials see clearer evidence of AI-related investment boosting demand for labor, equipment and infrastructure than they do of widespread productivity gains.

Axios

High-earning millennials and Gen Zers feel broke and conflicted: 'I make a good salary, I shouldn't be struggling this much'

Just 16% of U.S. adults say they feel financially fulfilled, and experts say the anxiety gripping everyone else often has little to do with what's actually in their bank accounts.

Fortune

New IBM Study Finds CIOs and CTOs Face Growing AI Control Gap as Enterprise Deployment Scales

ARMONK, N.Y., June 8, 2026 /PRNewswire/ -- A new IBM (NYSE: IBM) Institute for Business Value study reveals that as AI moves from experimentation to enterprise-wide deployment, two-thirds of surveyed CIOs and CTOs report being held accountable for AI systems they do not fully control, while governance struggles to keep…

AAP

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Gold extends losses on US interest rate-hike fears

Gold prices dipped on Monday, extending previous losses amid U.S. interest rate hike fears. Meanwhile, escalating tensions in the Gulf sent oil prices soaring, fueling inflation concerns. China's central bank continued to increase its gold reserves. Gold demand in India remained subdued due to price volatility. Silver and platinum prices…

The Economic Times

Chime Financial CEO Maps Growth Roadmap, $2.7B Revenue Target at Conference

Chime Financial (NASDAQ:CHYM) founder and CEO Chris Britt outlined the digital banking company’s growth strategy, product roadmap and margin targets during a presentation at the William Blair conference, emphasizing Chime’s focus on primary checking relationships and mainstream U.S. consumers. Brit

MarketBeat

Google Stock Fell on CapEx Plans. Don’t Miss the Silver Lining in Berkshire Hathaway’s Big Bet.

The AI race is getting more expensive, and Alphabet’s latest fundraising plan proved it. Still, Berkshire Hathaway’s $10 billion bet offers investors a reason to look deeper.

Barchart

Whirlpool Layoffs 2026: Company Slammed By Union as Refrigerator Demand Plunges to 2008 Crisis Levels

Whirlpool has announced another 288 layoffs at its Iowa refrigerator plant, bringing total job losses to 879 since last year. The cuts have reignited a dispute between the company and union leaders over manufacturing operations in Mexico.

International Business Times UK

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Nearly 2 Million Americans Have Been Out of Work for Over Six Months, the Highest Toll Since 2021

Long-term unemployment in the US has climbed to its highest level since December 2021, with nearly 2 million out of work for six months or more despite a strong May jobs report.

International Business Times UK

Americans Still Owe $1.25 Trillion on Credit Cards as Interest Tops 23%: Experts Say This One Call Helped Over 80% of Borrowers Get a Lower Rate

Credit card balances remain historically high, but the approved source package points to practical moves borrowers can try this week.

Barchart

The Escrow Surprise That’s Spiking Mortgage Payments in 2026

Escrow accounts are quietly reshaping monthly budgets across the country in 2026, and many homeowners feel the shock when their mortgage bill suddenly climbs. Property taxes keep rising in many regions, and home insurance premiums continue their upward march, creating a perfect storm inside escrow accounts.

Everybody Loves Your Money

‘The thought behind it was great, but the execution was proving difficult': Starbucks abandons AI inventory tool after only nine months following multiple errors — coffee giant says it needs to 'focus on consistency and execution at scale'

Starbucks has rolled back its failed AI inventory system, which failed to identify products in real-world environments, after just nine months.

TechRadar

‘Historic’: Canadian warehouse workers sign first-ever union deal with Walmart

Union says collective agreement is just the start of a broader fight to unionize major employers across the country

The Guardian - US

Gas at $4: Americans cut back on discretionary spends as fuel bills mount

Americans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting back on non-essential purchases like clothing and furniture. While some retailers see resilience, lower-income customers are noticeably reducing spending. Economists anticipate further retrenchment as tax refunds diminish and the cumulative…

The Economic Times

How Americans are adjusting their spending habits as cost of living soars

The U.S. Commerce Department reported last week that the growth in Americans' spending in April was primarily driven by higher prices, not an increase in purchases

The Independent UK

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MarketBeat

Bruker Signals Growth Pivot as Semiconductor and Overseas Orders Gain Steam

Bruker (NASDAQ:BRKR) is seeing stronger order momentum across several end markets, with semiconductor metrology, non-U.S. academic and government customers, and parts of its diagnostics business helping offset continued weakness in U.S. academic funding, a company representative said at a Jefferies

Barchart

75% of U.S. Homes are Now Unaffordable as Dave Ramsey Calls This ‘The Most Unrealistic Real Estate Market in 100 Years’

The housing market can improve on paper and still feel impossible in real life.

Fortune

Here's where U.S. debt may become unsustainable as interest payments trigger a default crisis that even steep tax hikes can't fix

"Bond markets unravel sooner when investors believe that the government will not restore fiscal sustainability."

Reason

Gordon-Darby Prepares to Renew Effort to Commandeer New Hampshire in Order to Maintain Emissions Testing Contract

Since it lost its first case on technical procedural grounds, the company plans to try again.

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Barchart

AutoZone Stock: Is AZO Underperforming the Consumer Discretionary Sector?

AutoZone has underperformed its sector peers recently, yet analysts remain highly optimistic about the stock’s prospects.

The Economic Times

Paramount to face legal challenge from states on Warner deal

Top lawyers from approximately 10 states, led by California, are preparing a legal challenge to Paramount Skydance Corp.'s $110 billion acquisition of Warner Bros. Discovery. The antitrust suit aims to block the mega-deal, citing concerns over reduced competition and bargaining power within the entertainment industry.

The Free Financial Advisor

Self-Employed Filers With Unusually Low Income Are Getting Flagged at Record Rates

Tax season has taken a sharper turn for self-employed workers, especially those reporting unusually low income compared to prior years or industry norms. The IRS has stepped up its detection systems, using advanced algorithms that quickly spot mismatches between earnings, expenses, and lifestyle indicators. Freelancers, gig workers, and small business…

The Guardian - US

US added 172,000 jobs in May as labor market shows signs of resilience

Government figures show unemployment rate at 4.3% amid rising inflation and economic uncertainty from Iran war

Fortune

A CEO denied raises to spend money on AI instead. Companies have 'no idea what they're going to need in a workforce' when the AI race is over.

Companies may be cutting raises and benefits to create attrition, one expert says.

International Business Times

Consumer Spending Holds Strong As Americans Draw Down Savings Amid Rising Costs

Strong consumer spending remains a key driver of the U.S. economy even as savings rates fall and more households hunt for discounts.

TechRadar

How much data does your favorite messaging app collect? New study shows 90% of messaging apps now include AI that puts privacy at risk

Are your private chats truly secure? New research from Surfshark dives into the most popular messaging apps, revealing alarming data harvesting and AI privacy risks. See why Signal came out on top.

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