Economy News - LeadStory

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Michigan erases $144 million in medical debt

State leaders are partnering with nonprofits to purchase and forgive medical debt for more than 210,000 residents.

Scripps News

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Can French champagne producers ride out U.S. tariffs?

Champagne producers in northeastern France need to find new markets after U.S. President Donald Trump threatened 30% tariffs on EU exports, the chairman of a French industry group said. While the tariffs could also hit industry jobs, cli...

Reuters

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Georgia's tea growers working to revive a Soviet-era industry

Some three decades after the collapse of the Soviet Union brought down Georgia's once-huge tea industry, some local entrepreneurs are working to rehabilitate derelict tea plantations and breathe new life into the sector.

Reuters

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How Estonia outpaced the rest of Europe at digitalization

Germany has been described as an analogue country in a digital world. Meanwhile, Estonia has digitized all of its government services, including applying for divorce. How has Estonia become Europe's digital leader?

DW News

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EU takes rule of law battle with Hungary to next level

According to the Commission's plan, all payments could be suspended under the new budget if it sees a rule of law backsliding. But getting the plan through will also require the approval of Hungary.

Euronews

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Africa’s debt crisis hinders development projects

Across Africa, a growing debt crisis is threatening development. Combined, African countries owe over a trillion dollars in public debt, and the rising cost of servicing these loans is forcing many governments to delay or cancel key infr...

Al Jazeera

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White House doubling down on Trump's tariff plans

As inflation rises up once again, the White House is doubling down on its tariff plans for countries around the world. President Trump claims Americans could see savings soon.

Fox News

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Judge stops Biden rule to remove medical debt from credit reports

In the final days of his presidency, the Biden administration announced a rule to remove medical debt from Americans' credit reports. A federal judge in Texas last week blocked that rule from taking effect.

CBS America

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Sen. Kennedy warns if Trump fires Powell the stock market would crash

President Trump said Wednesday it's "highly unlikely" that he would fire Jerome Powell, but he continued to air his frustrations with the Federal Reserve chair. CBS News MoneyWatch correspondent Kelly O'Grady has more.

CBS America

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San Diego childcare costs consume nearly half of household incomes

San Diego families face a crisis as the costs of rent and childcare combined consume nearly half of a household's income. Additionally, 190,000 children lacking access to licensed care in what experts call "childcare deserts."

Scripps Local

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What new summer spending data says about the economy

Jill Schlesinger explains what the new June retail and food sales data tells us about consumer habits and economic confidence.

CBS America

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Saravelos: Trump-Powell to be continuing headwind for dollar, FX

George Saravelos, global head of FX research at Deutsche Bank, says the U.S. dollar could fall 2% to 3% within 24 hours if President Donald Trump removes Federal Reserve Chair Jerome Powell.

Bloomberg

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French PM proposes cutting two public holidays to save money

France’s prime minister proposed the elimination of two public holidays from the country’s annual calendar: Easter Monday and May 8th (the day marking the Allied victory over the Nazis) to save money in next year’s budget.

Africanews

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EU proposes two trillion euros budget, Germany rejects plan

Ursula Von Der Leyen proposed the "most ambitious" €2 trillion ($2.3 trillion) 2028-2034 budget to counter overseas competition and Russian aggression, but Germany, the bloc's top economy, rejected it as unacceptable.

France 24

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Growing wealth gap in Silicon Valley

A new report from San Jose State researchers is putting a spotlight on a big problem: the growing gap between Silicon Valley''s wealthiest households - and everyone else.

Fox News

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Nigeria inflation falls slightly for third month straight

Despite the slowdown of inflation in the country, economic hardship is still a reality for many Nigerians. Contrary to headline inflation, food inflation rose slightly in the past month.

Africanews

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Mexico plans to strengthen trade with Canada

Mexican President Claudia Sheinbaum said that she spoke with Canadian Prime Minister Mark Carney and that the two had agreed to strengthen trade collaboration, particularly in light of the tariffs from U.S. President Donald Trump set to ...

Reuters

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S&P downgrades Senegal's credit rating from B to B-

Senegal's soaring debt level has led to several credit rating agencies downgrading the government. The country had recently increased its debt figures following an audit.

Africanews

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What a steady wholesale inflation rate says

The Producer Price Index report showed wholesale inflation measure was unchanged in June. It comes on the heels of the Consumer Price Index showing inflation accelerated in June. CBS News business contributor Javier David joins to break ...

CBS America

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Are home warranties worth it?

Home warranties promise peace of mind from major repairs. But when one woman needed a major AC repair, she learned the downside of her pricey warranty.

Scripps Local

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Inflation and prices are on the rise

A newly released report is showing inflation is on the rise, making prices higher across the board.

Scripps Local

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EU trade chief heads to Washington in search of tariffs solution

EU trade chief Maros Sefcovic will head to Washington on Wednesday (July 16) for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

Reuters

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Why Nigeria may be insulated against tariffs

Nigerian inflation is expected to show a further moderation as the June CPI numbers. This comes as Nigerian stocks advanced to a record high backed by an improving economic outlook for the West African nation.

Bloomberg

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Tariq: Fed waiting for tariffs to fully kick in

Underlying U.S. inflation rose in June by less than expected for a fifth month, as lower car prices helped offset gains in other goods exposed to tariffs. Ayesha Tariq, Macrovisor's Co-Founder speaks about the Fed's path ahead.

Bloomberg

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A look at poverty levels around the EU

In the past three years, at least 11 EU countries have seen an increase in poverty levels. Women and young adults are more likely to face poverty or social exclusion.

Euronews

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Trump eyes more trade deals soon as EU readies retaliation

President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as bette...

Reuters

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Opposition slams PM Bayrou’s budget cut plan

French PM François Bayrou has sparked a political firestorm with his sweeping budget cut proposals, aiming to slash €44 billion in public spending. Opposition parties across the spectrum have condemned the plan as unjust and socially dam...

France 24

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Business owners in Bulgaria brace for switch from lev to euro in 2026

European Union officials gave the green light in June for Bulgaria to become the 21st member of the eurozone, a key Brussels project aimed at deepening the ties between member countries.

Euronews

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Carney expects tariffs to be part of U.S. trade deal

Prime Minister Mark Carney tried to temper expectations about a Canada-U.S. trade deal, telling reporters all of President Donald Trump's trade agreements have included tariffs.

CBC News

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Inflation ticked up in June, here's where prices rose most

The Consumer Price Index, which tracks the changing costs of goods, rose in June for the second month in a row. Kelly O'Grady breaks down what that means.

CBS America