Author: ALJAZEERA

After a lackluster jobs report last month, Americans are less confident about short-term income and are spending less.Published On 26 Aug 202526 Aug 2025Americans are more pessimistic about the state of the United States economy after a weak jobs report showed cracks in the labour market.The Conference Board said on Tuesday that its consumer confidence index fell to 97.4 this month from an upwardly revised 98.7 in July.“Notably, consumers’ appraisal of current job availability declined for the eighth consecutive month,” said Stephanie Guichard, senior economist of global indicators at the Conference Board.“Meanwhile, pessimism about future job availability inched up, and…

Published On 26 Aug 202526 Aug 2025The administration of United States President Donald Trump is considering taking a stake in domestic defence contractors, including the aerospace company Lockheed Martin.On Tuesday, Secretary of Commerce Howard Lutnick hinted at the administration making a possible investment in the company as he defended Trump’s push for a greater role in business.“They’re thinking about it,” Lutnick told the news outlet CNBC when asked if the administration was considering taking pieces of contractors such as Lockheed Martin, Boeing or Palantir Technologies.While Lutnick cited Pentagon leaders as the source of his information, he also indicated that deals…

US restaurant chain abandons rebrand after new logo prompts firestorm of criticism online.Published On 27 Aug 202527 Aug 2025Cracker Barrel, the US restaurant chain known for its southern-style cuisine, has abandoned a controversial rebrand following a backlash stoked by prominent right-wing figures including Donald Trump.The Lebanon, Tennessee-based chain said on Tuesday that it would bring back its decades-old logo after its announcement of a simplified design provoked a firestorm of criticism online.“We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain,” the company said in a statement.“At Cracker Barrel, it’s always been…

US chipmaker reports revenue of $46.74bn for second quarter, defying fears that AI may be overhyped.Published On 28 Aug 202528 Aug 2025Chip giant Nvidia has set a new sales record, a sign that demand for artificial intelligence remains strong despite fearsthe technology may be overhyped.Nvidia, the world’s most valuable company, on Wednesday reported revenue of $46.74bn for the three months that ended in July, a rise of 56 percent year-on-year.Profit for the quarter was $26.42bn, a yearly rise of 59 percent.Nvidia’s latest earnings report had been hotly anticipated as the tech giant is widely seen as a barometer of the…

Chip giant Nvidia is set to release its latest earnings report – and the results could move the entire US stock market.Over the past two years, the chipmaker has risen to become the world’s most valuable company, with a market capitalisation of more than $4 trillion.When Nvidia announces its earnings on Wednesday, investors will get to see how the tech giant has been faring amid the tumult of President Donald Trump’s trade salvoes and concerns about whether artificial intelligence has been overhyped.Why is Nvidia so important?Nvidia specialises in making the graphics processing units (GPUs) that power AI, including the Blackwell…

Cook, who has been accused of mortgage fraud, says she will not be ‘bullied’ into resigning by the president.United States President Donald Trump says he will fire Federal Reserve Governor Lisa Cook if she doesn’t quit, intensifying his effort to gain influence over the central bank.“I’ll fire her if she doesn’t resign,” Trump told reporters on Friday during a visit to a Washington, DC, museum focused on the White House.Cook, the first Black woman to serve on the Federal Reserve’s Board of Governors, said she had “no intention of being bullied to step down” after Trump on Wednesday called for her…

Seoul, South Korea – South Korean President Lee Jae-myung is set to meet United States President Donald Trump for the first time in a high-stakes visit to his country’s closest and most important ally.After a one-day meeting with Japanese Prime Minister Shigeru Ishiba in Tokyo, Lee arrived in Washington, DC, on Sunday ahead of an official working-level meeting at the White House with Trump.It will be the first time the two heads of state meet.Their summit follows a trade deal in July in which Washington agreed to cut its reciprocal tariff on South Korea to 15 percent from an initially…

Prime Minister Mark Carney says most Canadian goods will be exempted from US tariffs while some sectoral duties remain.Canadian Prime Minister Mark Carney has said that his country will drop retaliatory tariffs in tandem with tariff exemptions offered by the United States, as the two ease away from their costly trade war.Speaking to reporters on Friday, Carney said that the US clarified that it will not impose tariffs on Canadian goods that comply with the US-Mexico-Canada free trade agreement. Some tariffs on sectors such as steel, aluminium, and cars will remain in place.“In this context and consistent with Canada’s commitment…

The extraordinary development follows a meeting between CEO Lip-Bu Tan and Trump after he called for Tan’s removal.The United States government will take a 10 percent stake in Intel under an agreement with the struggling chipmaker, President Donald Trump has said, marking the latest extraordinary intervention in corporate affairs.The US agreed to purchase a 9.9 percent stake in Intel for $8.9bn at a price of $20.47 a share, which is a discount of about $4 per share from Intel’s closing share price of $24.80 on Friday.The government will buy the 433.3 million shares with funding from the $5.7bn in unpaid…

Cook, who has been accused of mortgage fraud, has said she will not be bullied by Trump into resigning.The United States Department of Justice plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her, Bloomberg News has reported.A letter to Powell from Ed Martin, a Department of Justice (DOJ) official who has led similar investigations into Senator Adam Schiff of California and New York Attorney General Letitia James, said Cook’s case “requires further examination”, Bloomberg reported on Thursday.“At this time, I encourage you…