Author: Editor

A Walmart store is shown in Oceanside, California, U.S., May 15, 2025. Mike Blake | ReutersLast month, Walmart downplayed how much President Donald Trump’s tariffs would affect its business in front of a large audience of investors. CEO Doug McMillon pointed to other challenging times that the company had weathered — like the aftermath of 9/11 — and the CEO of its international business didn’t even bring up trade during a panel with global corporate leaders.The largest U.S. retailer struck a much different tone Thursday. On its earnings call and in CNBC interviews about its quarterly results, the company warned…

A Republican proposal to tax remittances would deliver an economic blow to some of the U.S.’s poorest neighbors, including a close ally of President Donald Trump. The bill, presented to the House of Representatives last week, would levy a 5% tax on remittances for noncitizens and foreign nationals. That’s on top of a roughly 5% to 10% fee already charged on the payments by senders like Western Union Co. and MoneyGram International Inc., services migrants in the U.S. use to send money to family members back home.The tax would directly hit payments that represent about one-fifth of the gross domestic product…

Brandon Guerrero, of Compton, California, is given both a flu and Covid vaccine at CVS in Huntington Park, California, Aug. 28, 2024.Christina House | Los Angeles Times | Getty ImagesThe Food and Drug Administration on Tuesday outlined new regulatory guidance for future Covid-19 vaccine boosters, setting stricter approval standards for healthy Americans. The agency said it wants to see new clinical trials showing Covid shots are still safe and effective before approving them for healthy adults and children, a costly new requirement for pharmaceutical companies that could limit who gets new jabs each year. Previously, the FDA typically approved updated Covid…

President Donald Trump on Tuesday pushed back on demands from Republicans who have threatened to sink his giant tax bill if the legislation does not significantly boost the state and local tax deduction, said Representative Mark Amodei of Nevada. In a private meeting with House Republicans, Trump singled out the lawmakers from New York, New Jersey and California who have rejected the $30,000 deduction limit — three times the current cap — contained in the legislation moving through the House.”He wants to leave it where it is, that’s basically what he said,” Representative Bruce Westerman of Arkansas said of the SALT…

A Cadillac all-electric 2025 Escalade IQ luxury SUV is displayed during press day of the North American International Auto Show in Detroit, Michigan, September 14, 2023.Rebecca Cook | ReutersDETROIT — Cadillac’s expanding all-electric vehicle lineup is attracting a notable number of new buyers to the American luxury brand, including an increase this year of Tesla owners trading in their EVs.The General Motors brand reports nearly 8 out of every 10 customers purchasing a Cadillac EV are new to Cadillac, with around 10% of those customers trading in a Tesla. That includes roughly 25% of customers trading in a Tesla this…