BUSINESS HEADLINES

Wall Street drifts toward the finish of a tough June

NEW YORK (AP) — U.S. stocks are drifting toward the finish line of a tough June. The S&P 500 rose 0.3% Tuesday but is still heading toward its first losing month following two fabulous ones. The Dow Jones Industrial Average added 49 points, and the Nasdaq composite rose 0.1%. Stocks in the artificial-intelligence industry held steadier following sharp swings earlier in the month on worries they’d grown too expensive. Treasury yields held relatively steady in the bond market after oil prices edged higher. Stock indexes rose in much of Europe and Asia, while the Japanese yen fell near a 40-year low against the U.S. dollar.

Supreme Court says Fed’s Cook can keep her job for now, but it upholds other Trump firings

WASHINGTON (AP) — The Supreme Court says Federal Reserve governor Lisa Cook can remain in her job for now, a rebuke to President Donald Trump’s bid to wrest control of the nation’s central bank. At the same time, the justices Monday dramatically expanded presidential power, upholding the Republican president’s firings of the heads of other independent federal agencies. Trump says it’s a “Historic and Unprecedented Ruling.” But the court rejected a Trump plea to immediately remove Cook from the Fed based on allegations she committed mortgage fraud, which she denies. Cook says the case was about her refusal to bow to political pressure in setting interest rates. Cook was nominated by then-President Joe Biden, a Democrat.

Job openings stayed at a surprisingly strong 7.6 million in May; U.S. labor market proves resilient

WASHINGTON (AP) — U.S. job openings stayed at a surprisingly strong 7.6 million in May as the American labor market remains resilient in the face of the economic shock from the Iran war. Forecasters had expected employers to post just 7 million openings in May. Layoffs rose, and the number of people quitting their jobs — a sign of confidence in their prospects — ticked up only slightly.

Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy

WASHINGTON (AP) — Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards. The Conference Board said Tuesday that its consumer confidence index rose 0.6 point to 91.2 in June, a figure that is still below the year-ago reading of 95.2. Consumer attitudes worsened after the Iran war caused oil and gas prices to spike, accelerating inflation and causing Americans’ inflation-adjusted incomes to decline. Before the pandemic, the index regularly topped 120.

What the Supreme Court’s ruling in the Cook case means for Federal Reserve independence

WASHINGTON (AP) — The Supreme Court on Monday said the Federal Reserve, unlike any other agency in Washington, has a measure of independence from the presidency and day-to-day politics. But the court didn’t define to what extent. The case is the latest round in an unprecedented fight between the Fed and President Donald Trump. More political interference at the Fed could upend financial markets around the world, which closely follow its interest rate moves. In a 5-4 decision, the court ruled that the president cannot fire the seven members of the Fed’s board of governors without a clear cause. The decision endorses the Fed’s independent structure even as the court eliminated such protections for leaders of other agencies, whom the president can fire at-will.

How to talk about money with your kids

NEW YORK (AP) — Talking to kids about money can be fraught, especially if parents don’t feel totally comfortable with the topic themselves. Jennifer Seitz is director of education at Greenlight, a family personal finance app. She says that’s starting to change. There are more banking products available to help parents think about their children’s financial futures, including debit cards for kids that can be used under parental supervision and apps that gamify money to make it approachable for kids. Experts say you should talk about money openly and often and try to find ways to make money talk engaging and fun for kids.

Four days to make victims fall in love: How global scammers use US tech to fleece people

Technology from American companies is being used to power a revolution in the scam industry, playing a key role in the industrialization and globalization of fraud in ways that have not been clear until now, an AP/“FRONTLINE” investigation has found. Watchdogs say these companies have the technical capacity to do more to protect against abuse but lack the legal, regulatory and business incentives to crack down on a crime the Federal Trade Commission estimates cost Americans nearly $200 billion in losses in 2024.

Carnegie Foundation unveils 2026’s ‘Great Immigrants, Great Americans’ list

The Andrew Carnegie Foundation has announced this year’s “Great Immigrants, Great Americans” honorees, including Citi CEO Jane Fraser and Pulitzer Prize-winning authors Hernan Diaz and Cristina Rivera Garza. The awards, launched in 2005, celebrate immigrants’ contributions to the U.S. Carnegie Foundation President Dame Louise Richardson said celebrating immigrants’ contributions is especially important considering the current debate over immigration policy. Honorees like Dr. Iman Abuzeid and conductor Cristian Măcelaru highlight the opportunities and unique perspectives immigration brings to the country. And Harvard’s Gregory Nagy praises the cultural diversity immigrants add to the “melting pot” of America.

Comcast plans to split into two public companies by spinning off NBCUniversal and Sky

NEW YORK (AP) — Comcast is planning to split itself into two separate publicly traded companies by spinning off NBCUniversal and Sky. The company said Monday that its board and management team think each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities. Media and entertainment company NBCUniversal includes a theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo. Its portfolio will now include European media business Sky.

Brought to you by www.srnnews.com

Click here to read the full article