Economy News

Global Finance & Economic Policies

Track global economic trends, policy decisions, financial markets, and international trade developments that shape the world economy.

Gas prices surge past $4.50 nationally as Iran tensions pressure drivers

The national average price for regular gasoline surged above $4.50 per gallon Wednesday, as ongoing tensions between the U.S. and Iran continued to pressure fuel costs for American drivers.AAA reporte...

May 6 5 views

Chevron CEO says economies 'are going to have to slow' as Strait of Hormuz closure disrupts oil supply

Chevron CEO Mike Wirth on Monday said that shortages in the oil supply chain will start appearing around the world because of the closure of the Strait of Hormuz amid the Iran war.Wirth made the comme...

May 5 12 views

Officials warn of banking spoof callers draining customers' accounts

Officials are warning customers about banking spoof calls that could trick them into emptying their accounts, with scammers posing as banking or law enforcement officials who claim they are trying to ...

May 5 7 views

Foreclosures hit highest level in 6 years as insurance, property tax costs squeeze homeowners

Foreclosures rose to the highest level in six years in the first quarter of this year as homeowners are squeezed by rising costs related to insurance and property tax bills.The Wall Street Journal rep...

May 4 8 views

Rising gas prices are crushing restaurant sales as $4 a gallon becomes tipping point for consumers

Several U.S. restaurant chains are reporting weaker than expected sales growth in the latest quarter as high gasoline prices squeeze consumers' budgets.Gas prices have surged amid the war in Iran, wit...

May 4 9 views

Steak and seafood chain 801 Restaurant Group files for bankruptcy after closing Denver, Minneapolis spots

A Kansas-based restaurant group with several steak and seafood locations in Kansas, Missouri, Minnesota, Colorado, Virginia, Nebraska and Iowa, has filed for bankruptcy.801 Restaurant Group LLC filed ...

Apr 17 5 views

Oil prices plunge after Iran says Strait of Hormuz open for commercial shipping traffic

Oil prices plummeted more than 10% on Friday after Iran's foreign minister said that the Strait of Hormuz will be open to all commercial shipping traffic for the duration of the ceasefire between Isra...

Apr 17 6 views

Social Security’s next COLA projection might not go as far as retirees hope

American retirees who are receiving Social Security will see an annual cost of living adjustment (COLA) next year, and a new report projects that next year's benefit increase may be smaller than many ...

Apr 16 3 views

Mortgage rates fall as Iran ceasefire eases market tensions

Mortgage rates fell this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed m...

Apr 16 10 views

Rising fuel costs threaten Spirit Airlines’ bankruptcy exit plan: reports

Spirit Airlines is facing renewed financial pressure as rising fuel costs threaten to complicate its efforts to exit bankruptcy, adding uncertainty to its restructuring plan, according to reports. The...

Apr 16 8 views

Average monthly mortgage payment hits new high, topping $2K for first time ever

Outstanding mortgage payments reached a new high at the end of last year when the typical mortgage holder's monthly payment exceeded $2,000 for the first time.While the average monthly payment for new...

Apr 15 10 views

Tax refunds are bigger than ever this year, but residents of 5 states are cashing in the most

Americans are facing a midnight deadline to file their 2025 tax return, but the refunds that await the majority of taxpayers are larger on average than a year ago with taxpayers in certain states rece...

Apr 15 5 views