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The Fed announced a quarter-percent cut Wednesday, even as the government shutdown disrupts major data releases.The second rate reduction of the year is in alignment with expectations: CME FedWatch projected a near-100% chance of a cut before the meeting and the central bank previously penciled in cuts for its last two meetings of 2025 in its September economic projections.The Federal Open Market Committee had to make a decision this month without a full economic picture. The government shutdown — which is approaching the one month mark — led to a delay of the Bureau of Labor Statistics’ consumer price index…

2025-10-29T17:08:04Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Hurricane Melissa made landfall in Jamaica Tuesday as a Category 5 storm. It’s one of the strongest Atlantic Basin hurricanes on record, with wind speeds of up to 185 mph. Photos show its impact on the population, and devastation to local businesses and infrastructure. Hurricane Melissa made landfall as…

Three high-profile Senate Democrats — Senate Finance Committee ranking member Ron Wyden, D-Oregon, Senate Democratic Leader Chuck Schumer, D-New York, and Sen. Elizabeth Warren, D-Massachusetts, are demanding to know how the recently appointed CEO of the Internal Revenue Service, Frank Bisignano, can run the tax agency while simultaneously leading the Social Security Administration.Earlier this month, Treasury Secretary Scott Bessent named Bisignano to a newly created role as IRS CEO, even though Bisignano is already commissioner of the Social Security Administration. Bessent too has been holding two jobs, filling in as acting commissioner of the IRS while also serving as secretary…

The logo and lettering of Paramount Skydance Corporation can be seen at a Paramount stand at the Media Days in Munich (Bavaria, Germany). Matthias Balk | Picture Alliance | Getty ImagesParamount Skydance is slashing nearly 1,000 jobs beginning on Wednesday, just months after the close of its merger, according to a person close to the situation. The layoffs will eventually amount to 2,000 roles, the person said.”When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significant change – including restructuring the organization,” CEO David Ellison told employees in a memo…

The Ultium Cell factory in Warren, Ohio, is shown, July 7, 2023.Gene J. Puskar | APGeneral Motors laid off roughly 1,700 workers at manufacturing sites in Michigan and Ohio on Wednesday, citing a slowdown in the electric vehicle market.The company confirmed there were around 1,200 layoffs at Detroit’s electric vehicle plant and 550 cuts at Ohio’s Ultium Cells battery cell plant, in addition to 850 temporary layoffs at that site in Ohio. The company also said it would temporarily lay off 700 at Ultium Cells’ Tennessee plant.”In response to slower near-term EV adoption and an evolving regulatory environment, General Motors is realigning…

Hello! Wednesday is as good an excuse as any for a happy hour. But when it comes to Wall Street’s favorite watering holes, does the Financial District’s Stone Street still have the juice? BI’s William Edwards went to find out.In today’s big story, Amazon’s massive layoffs are in full swing. Could it be the start of something bigger across corporate America?What’s on deck:Markets: Mulling a move to Dubai? The good (tax-free status) and bad (traffic jams) of living and working in UAE’s biggest city.Tech: The dark reality many female founders face when raising money from VCs.Business: Getting laid off stinks.…

Gerresheimer AG, a maker of packaging for medicines and cosmetics, said an external investigation it commissioned has found evidence of probable accounting issues from last year and that the probe will continue. After disagreeing with findings by Germany’s financial watchdog last month, Gerresheimer now says that it is “more likely to assume” that it did indeed fail to properly recognize sales during the 2024 financial year. An initial external probe by a law firm hired by Gerresheimer centered on roughly €3 million ($3.5 million) in booked revenue from a contract last year, the company said. The law firm will now investigate a…

French lawmakers voted to double its tax on large technology companies, risking a backlash from Donald Trump who has long threatened to retaliate against the measure with trade tariffs.France’s lower house of parliament adopted an amendment to the 2026 budget bill late Tuesday that would potentially raise the levy on the digital revenues of firms like Amazon.com Inc., Google owner Alphabet Inc. and Facebook owner Meta Platforms Inc to 6% from 3% previously. The change is softer than another proposal to increase the rate to 15%, but it would mark a considerable increase in a levy that has for years exacerbated…

2025-10-29T12:00:02Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Uber, Lucid, and Nuro will put robotaxis on the streets of San Francisco next year. The companies said they plan to test the service with about 100 vehicles in the coming months. The self-driving vehicles join others from Waymo and Tesla that are already in the Bay Area. Expect…

An open-air strip retail center in Richmond, Virginia.Courtesy of NuveenA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.It would be an understatement to say that retail real estate has had a rough ride. It started with the birth of e-commerce and escalated with the Covid-19 pandemic. Its recovery has been splintered, given the varying subsectors of retail,…