Economy News | LeadStory

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Trump's push to cap credit card interest rates

President Donald Trump is pushing for a 10% interest rate cap for credit cards. CBS News' Jill Schlesinger breaks down the implications.

CBS America

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Villagers shiver in China's north as gas subsidies shrink

Villagers near Baoding in China's Hebei province chose to barely heat their homes because of rising natural gas prices after cash-strapped governments scaled back subsidies designed to drive a transition to clean energy.

Reuters

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Germany edges back into growth after two years of contraction

Europe’s largest economy returned to modest expansion in 2025, as stronger consumer and government spending offset weaker exports hit by higher U.S. tariffs.

Euronews

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U.S. jobless claims unexpectedly tumble to 198,000

Applications for U.S. unemployment benefits decreased by 9,000 to 198,000 in the week ended Jan. 10, the lowest level since November.

Bloomberg

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School districts nationwide drop weight-loss drug coverage

Employers nationwide are dropping GLP-1 weight-loss drug coverage as costs explode. One Maryland school district saw expenses jump from $485K to $3.6M in two years. Teachers like Christa Donnelly, who lost 4 pants sizes, now face losing ...

Scripps News

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Iran economy hits rock bottom amid protests

Hyperinflation has destroyed the cpountry's currency rial and Iranians can no longer afford basic goods and services. Protests in the streets have escalated and thousands are feared dead.

DW News

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Streaming service prices jumped nearly 20% in month, BLS finds

Subscriptions for streaming services saw a nearly 20% jump in prices between November and December, new data from the Labor Department shows. That includes streaming services like Netflix, Disney Plus and Paramount Plus.

CBS America

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Report: Economic confrontation threatens global stability in 2026

Geoeconomic confrontation — ranging from sanctions to tariffs — is the top threat, found the World Economic Forum (WEF)'s Global Risks Report on the eve of its annual meeting gathering the world's business and political elites, set to ta...

Euronews

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Trump touts strong U.S. economy, says 'inflation is defeated'

President Trump delivered remarks at the Detroit Economic Club on Tuesday, where he touted a strong U.S. economy. CBS News' Aaron Navarro has the latest.

CBS America

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U.S. retail sales rise, wholesale inflation ticks up

U.S. November retail sales rose by more than forecast with gains seen in sporting goods, hobby stores and clothing outlets. Wholesale inflation picked up slightly in November with the producer price index rising 0.2%.

Bloomberg

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Sudan's war has left the country's economy shattered

Widespread destruction, massive military spending and plummeting oil and gold revenues have left Sudan's economy in "very difficult times", army-aligned finance minister Gibril Ibrahim said, nearly three years into the army's war with ri...

Africanews

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Outcry as France's Louvre museum hikes prices for non-EU visitors

The Louvre Museum in Paris has announced a 45% increase in ticket prices for visitors from outside the European Union, Iceland, Liechtenstein, and Norway. The price hike is intended to help finance renovations following a major jewel heist.

Africanews

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Trump tries to soothe economic anxiety in Detroit trip

President Donald Trump touted his economic record in Detroit, aiming to refocus attention on U.S. manufacturing and his efforts to tackle high consumer costs as the White House strives to show it is addressing the economic anxieties grip...

Reuters

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What's behind the protests in Iran?

Anti-government protests in Iran that started over the country's economic situation have continued for a third week. "The Daily Report" breaks down who and what's behind the demonstrations. And Elisa Ewers, the director of the Middle Eas...

CBS News

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Trump speaks about economy, Federal Reserve in Detroit

President Trump spoke about the state of the U.S. economy Tuesday in Detroit, where he arrived to tour local Ford factories.

CBS America

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What a 10% credit card interest rate cap could mean for borrowers

The Dow Jones fell nearly 400 points on Tuesday as traders reacted to President Trump's proposal to cap credit card interest rates at 10% for one year.

CBS America

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Nigeria to revise inflation reporting after artificial spike

The revision is likely to influence market expectations and policy discourse ahead of the next monetary policy decisions by the Central Bank, which closely watches inflation dynamics in setting interest rates.

Africanews

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New data shows no change in inflation rates for the end of 2025

New Consumer Price Index data depicts there was no change in inflation rates from November through December of 2025. Sam Goldfarb, a markets reporter for The Wall Street Journal, has more.

CBS America

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Data shows hedge funds thrived in 2025

Hedge fund investors haven't had it this good since the aftermath of the financial crisis. Data compiled by industry tracker Hedge Fund Research showing that the industry posted its best year since 2009, with gains of about 12.6%.

Bloomberg

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How K-pop pushes appetite for Korean ramyun noodles

The latest trend of international fascination with South Korea is K-food, or more specifically K-ramyun. The Korean ramyun wave ties in the country's film and music, to captivate consumers around the world and challenge

DW News

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Can Trump cap credit card rates for one year? Here's what to know.

President Trump says he wants to cap credit card interest rates at 10% for a year by Jan. 20. CBS News business analyst Jill Schlesinger breaks down if the president has the ability to cap rates and what it would mean for you.

CBS America

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JPMorgan sees surprise drop in investment-banking fees

JPMorgan's investment-banking fees unexpectedly fell in the fourth quarter, while the bank delivered results that otherwise mostly beat consensus. Dani Burger reports on Bloomberg Television.

Bloomberg

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French farmers protest Mercosur deal amid falling incomes

French farmers drove hundreds of tractors toward French Parliament to protest falling incomes and the EU’s Mercosur trade deal, which they say adds pressure from imports alongside rising fuel, fertilizer and feed costs.

France 24

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U.S. probe into Fed hits global markets as worry of its independence grows

Fallout from the Trump administration's criminal probe of the country's top central banker is being felt worldwide. That investigation, ostensibly focusing on potential/alleged falsehoods in Powell's congressional testimony about budget ...

France 24

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Ethiopia begins $12.5 billion construction of 'Africa's biggest airport'

Ethiopian Airlines on Saturday officially started a $12.5 billion construction project for what officials say will be Africa's biggest airport when completed in 2030 in the Ethiopian town of Bishoftu.

Reuters

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Powell vows to stand firm as Fed served with DOJ subpoenas

Federal Reserve Chair Jerome Powell said Sunday in a video statement the U.S. central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment. Powell said the action was related to his June...

Bloomberg

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Chancellor Merz visits India to strengthen defense, industrial ties

German Chancellor Merz visits India to discuss shared interests in politics and business. One of the most important agreements establishes a closer security partnership, says DW’s Delhi bureau chief Sandra Petersmann.

DW News

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Can Cuba's economy survive without Venezuelan supply?

Cuba’s Communist government strongly relies on massive economic support from its oil-rich South American ally, and is now bracing for deeper hardship as its long‑standing energy crisis collides with shifting geopolitics

DW News

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Carney heads to China hoping to reset strained trade ties

Prime Minister Mark Carney is heading to China this week as the government looks to reset strained trade ties and some industries hope to see relief from punishing tariffs.

CBC News

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Kenyans ‘lured’ to fight for Russia on Ukraine’s front line

Kenya’s unemployment crisis is pushing many young people into desperation. With few jobs at home, some are chasing opportunities abroad no matter how dangerous.

Al Jazeera