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The US budget deficit is the story markets are fixated on this week, with panicked bond investors sending yields spiraling higher and spooking the stock market.The bond market is responding to the possibility that the GOP budget bill, which passed in a vote in the House of Representatives on Thursday morning, could add trillions to America’s budget deficit.The Treasury sell-off continued on Thursday after the bill was sent to the Senate, with the 30-year bond yield edging past 5.1%. The 10-year US Treasury yield rose past 4.6%.So, why are investors so worried about the deficit?There are three things top of…

The entrance portal to the Epic Universe theme park in Orlando, Florida, US, on Saturday, April 5, 2025.Thomas Simonetti | Bloomberg | Getty ImagesORLANDO, Florida — With the grand opening of Epic Universe on Thursday, Comcast is positioning its Universal Studios Orlando Resort as a destination, not a pit stop.For years, Universal’s Florida-based resort has played second fiddle to rival Disney. While it boasted three theme parks — Universal Studios Florida, Universal Islands of Adventure and water park Volcano Bay — and a handful of hotels, it wasn’t viewed as a destination.”This fourth gate changes everything,” said Karen Irwin, president…

President Donald Trump’s signature tax bill narrowly passed the House Thursday morning, advancing a sprawling multitrillion-dollar package that would avert a year-end tax increase at the expense of adding to the U.S. debt burden.The bill now heads to the Senate, where groups of Republicans are pressing for extensive change. Lawmakers plan to vote on approval by August. The bill includes a $4 trillion increase in the U.S. debt ceiling, which the Treasury Department forecasts could otherwise force a default as soon as August or September, adding urgency to the timeline.The 215-214 House vote, with one abstention, was met with cheers…

2025-05-22T14:51:25Z Share Facebook Email X LinkedIn 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. Jamie Dimon is ringing the alarm bells on the economy again. The JPMorgan CEO told Bloomberg that the US was at risk of a fate more worrying than a recession. He’s worried about stagflation, a combo of persistently high inflation and stagnant economic growth. The CEO of America’s largest bank says he’s…

The U.S. Supreme Court Chip Somodevilla/Getty Images hide caption toggle caption Chip Somodevilla/Getty Images “Justice Amy Coney Barrett recused herself from participating in the case. As a professor at the University of Notre Dame, she was involved with a legal clinic that advised St. Isidore.” A deadlocked U.S. Supreme Court effectively blocked the creation of the nation’s first religious charter school in Oklahoma, leaving in place a state Supreme Court ruling that declared the school violated the constitutional separation of church and state. The vote was 4-4, and the order did not specify which justice voted which way. Justice Amy…

A “Sale” sign in front of a home in Washington, DC, US, on Thursday, May 8, 2025. Nathan Howard | Bloomberg | Getty ImagesThe spring housing market continues to struggle amid high interest rates and low consumer confidence.Sales of previously owned homes in April declined 0.5% from March to a seasonally adjusted, annualized rate of 4 million units, according to the National Association of Realtors. That is the slowest April pace since 2009.Sales were down 2% from April of last year. Housing economists were expecting a gain of 2.7%.This count is based on closings, meaning contracts that were likely signed…

Flags fly at half staff outside the United Healthcare corporate headquarters in Minnetonka, Minnesota, Dec. 4, 2024.Stephen Maturen | Getty Images News | Getty ImagesIt took six months, countless hours on hold and intervention from state regulators before Sue Cover says she finally resolved an over $1,000 billing dispute with UnitedHealthcare in 2023.Cover, 46, said she was overbilled for emergency room visits for her and her son, along with a standard ultrasound. While Cover said her family would eventually have been able to pay the sum, she said it would have been a financial strain on them. Cover, a San Diego…

If you’ve ever watched a home improvement show, you know kitchens can make or break the luxury feel of a house.It can be easy to miss the mark when trying to create a luxury kitchen, so Business Insider spoke to a couple of interior designers about common ways people make their kitchens look cheap.Here’s what they had to say.Dull colors and lightingThe neutral colors many people gravitate toward for modern kitchens can look cheap, according to experts.Charlotte Eustace, an interior designer based in the UK and the founder of Eustace Studio, told BI she especially dislikes millennial gray kitchens.”It just…

This is an on-site version of the White House Watch newsletter. You can read the previous edition here. Sign up for free here to get it on Tuesdays and Thursdays. Email us at [email protected] morning and welcome to White House Watch! A programming note: there will be no newsletter on Tuesday, but we’ll be back in a week. In the meantime, let’s get into:Trump’s ‘big, beautiful’ billA tense meeting with South Africa’s presidentDemocrats’ struggle to rebuildDonald Trump is one step closer to getting his “big, beautiful” bill.The House of Representatives — by a single vote — passed its budget bill, which would slash taxes,…

The Picklr facility in Salt Lake City, UtahPacklrThe world’s largest pickleball franchise is coming to Japan.The Picklr, a network of indoor pickleball clubs, will open 20 new locations in the Japanese market over the next five years, the company said on Thursday. The expansion will take place through a strategic partnership with Nippon Pickleball Holdings, Japan’s leading pickleball company.The Picklr CEO Jorge Barragan has taken on an aggressive growth strategy as the sport has seen exponential growth. Pickleball saw a 223% jump in participation over a three-year span, according to the Sports and Fitness Industry Association, making it the “fastest-growing”…