Economy News | LeadStory

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Concerns over AI-related companies driving stock sell-off

All three major market indexes continued a fourth day of sell-offs on Tuesday over concerns about artificial intelligence-related stocks. Paul La Monica, senior markets analysis writer at Barron's, joins "The Daily Report" to break it down.

CBS News

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Trump, MBS announce boost in Saudi investment to U.S.

President Trump welcomed Saudi Crown Prince Mohammed Bin Salman to the White House on Tuesday. The two leaders announced a boost in Saudi Arabia's planned investment in the U.S., from $600 billion to nearly $1 trillion.

CBS News

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Saudi investments quietly reshape America's economic future

Saudi Arabia's Public Investment Fund (PIF), valued at over $1 trillion, has invested $170 billion in the United States since 2017, targeting industries such as technology, entertainment, and transportation.

Al Jazeera

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South Africa readies for G20 despite U.S. boycott

Hopes for a strong G20 declaration on climate and debt relief are slim as South Africa readies to host the summit from Saturday (November 22). Global tensions and a boycott by the United States threaten to overshadow the gathering.

Reuters

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Comparing China, U.S. stocks amid 'ugly' technical signals

"Bloomberg: The China Show" co-anchor and Bloomberg Asia TV Chief Markets Editor David Ingles compares technical, volatility, and fundamental factors of U.S. and Chinese stocks.

Bloomberg

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How AI can help you save money on Thanksgiving this year

Artificial intelligence is helping people save money on their Thanksgiving plans this year. CBS News MoneyWatch correspondent Kelly O'Grady has more.

CBS America

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Japan seeks to calm escalating row with China over Taiwan

Japan on Monday (November 17) moved to tamp down an escalating row with China over Taiwan that has prompted Beijing to urge its citizens to stay away from its East Asian neighbor.

Reuters

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Equity markets have 'more upside' if feds cuts rates, UBS says

Adrian Zuercher of UBS says the equity market "definitely has more upside" if the Federal Reserve signals further rate cuts. He tells Bloomberg Television that U.S. markets are "quite healthy" as earnings have been strong in the third qu...

Bloomberg

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UK luxury home sales slump ahead of expected mansion tax

Sales of the UK's most expensive homes plummeted in October, according to new data, with affluent buyers appearing to be put off by the prospect of a so-called mansion tax in Labour's upcoming budget. Property website Rightmove said Mond...

Bloomberg

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New report shows share of first-time home buyers dropped to record low

The American dream feels increasing out of reach as home prices have skyrocketed for years. The latest report from the National Association of Realtors shows the share of first-time home buyers has dropped to 21%.

CBS America

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Trump's Gaza plan arrives at UN Security Council

The UN Security Council will vote Monday on a resolution endorsing U.S. President Donald Trump's Gaza peace plan, diplomats said. Last week the Americans officially launched negotiations within the 15-member Security Council on a text th...

France 24

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Saudi fund, Kushner’s firm to buy Electronic Arts in $55bn deal

In recent years, Saudi Arabia has sought to diversify its economy away from oil, making massive investments in the U.S. It is now seeking to invest in a gaming company with a consortium put together by President Trump's son-in-law and ad...

Al Jazeera

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Switzerland wins U.S. tariff rate cut, pledges large investments

The United States and Switzerland announced a framework trade agreement on Friday that includes Washington slashing its tariffs on imported Swiss products to 15% from 39% and a pledge by Swiss companies to invest $200 billion in the U.S....

Reuters

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The hangover from the government shutdown just hit Wall Street

A lack of economic data muddied the waters for investors this week, and analysts preparing their outlooks for 2026 are doing so without key economic information due to the government shutdown.

Scripps News

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Canadian travel slump could cost U.S. economy millions

Travel from Canada dropped by double digits last month, continuing a near-yearlong decline fueled by trade disputes.

Scripps News

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Ghana growth prospects strengthen amid increasing investor confidence

Ghana has emerged from its worst economic crisis in a generation and is positioned for sustained growth, Finance Minister Cassiel Ato Forson announced Thursday, declaring the nation "back, strong, credible, and open for business" during ...

Africanews

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Trump administration says it has trade frameworks with Argentina

The Trump administration said Thursday that it had reached trade frameworks with Argentina, Ecuador, El Salvador and Guatemala.

France 24

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China's factory output, retail sales growth worst in over a year

China's factory output and retail sales grew at their weakest pace in over a year in October, piling pressure on policymakers to revamp the $19 trillion export-driven economy as mounting supply and demand strains threaten to further curt...

Reuters

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Rapper Bad Bunny's global stardom boosts Puerto Rico's economy

Rapper Bad Bunny has brought a major boost to Puerto Rican pride, and the economy.

Al Jazeera

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Federal reserve has room for more rate cuts, Pimco's Wilding says

Tiffany Wilding, economist at Pacific Investment Management Co. (Pimco), says the labor market is slowing but not falling off of a cliff. Speaking on "Bloomberg Surveillance," Wilding says the Federal Reserve has room to cut rates at lea...

Bloomberg

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Government shutdown may impact Fed decision on interest rates cuts

The government shutdown impacted key economic data reports that the Federal Reserve uses to determine a potential interest rate cut. CBS MoneyWatch correspondent Kelly O'Grady reports.

CBS America

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How much did the government shutdown cost?

The Congressional Budget Office estimates that around $11 billion of economic activity was lost during the 43-day government shutdown. CBS News' Kelly O'Grady breaks down the figures.

CBS America

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Canadians boycotting U.S. mainly behind billions in lost tourism

A U.S. Travel Association report forecasts a 3.2 per cent decline in international tourism spending in the country for 2025, a loss of $5.7 billion U.S. compared with the previous year. The association largely attributes the loss to a de...

CBC News

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Goldman Sachs predicts a lost decade for U.S. equities

Strategists at Goldman Sachs expect U.S. equities to keep lagging global peers for the next decade. Peter Oppenheimer and his team recommend that investors increase diversification beyond the U.S. They see the S&P 500 returning an averag...

Bloomberg

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African Union says rising debt crisis undermines development

The chairperson of the AU Commission says many governments are spending more on servicing debt than on investments in human development.

Africanews

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Trump proposes tariffs on Italian pasta companies

A new wave of tariffs could cause many Italian pastas to disappear from grocery shelves. A report from the Wall Street Journal details the Trump administration's plan to impose duties of 107% on Italian pasta imports.

CBS America

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China's soybean import dependence grows amid crop shift

An expected trade deal between China and the U.S. is offering relief to American farmers hit hard by Beijing’s block on soybean imports and China’s challenge to grow enough of its own.

DW News

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Trump: Americans to receive 'at least $2,000' from tariff revenue

Could Americans be getting checks from the federal government due to revenue brought in by Tariffs? That's something President Donald Trump says he's considering.

Scripps News

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Polls indicate many Americans downbeat on Trump's handling of economy

U.S. economic growth looks lopsided due to reliance on the AI boom and stock-market wealth causing many Americans to be downbeat about the economy and the president's handling of it. Many voters expressing cost-of-living anxieties and ha...

Bloomberg

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Von der Leyen offers minor concessions on EU budget

Ursula von der Leyen has proposed changes to her €2 trillion EU budget to empower regional authorities and protect financing for rural areas. The tweaks look to stave off a parliamentary rebellion after a week of tensions.

Euronews