Breaking News: Business
- Five years after the GameStop mania, retail investors have become a force Wall Street can’t ignore - "Retail investors are difference-makers. They can move markets with size and conviction," said Tom Lee, head of research at Fundstrat.
- Homebuyers are backing out of deals at the fastest pace in nearly a decade - More than 16% of signed contracts on homes in December were canceled, as consumers face continued uncertainty in the economy and rising inventory.
- GM expects to top Ford in U.S. vehicle production as it faces up to $4 billion in tariff costs - The 2026 tariff costs would be in line with the automaker's $3.1 billion in tariff costs last year, despite the levies not being in effect for all of 2025.
- Amazon converting Fresh supermarkets, Go stores to Whole Foods locations - Amazon plans to close its Fresh supermarkets and Go convenience marts, and convert some locations into Whole Foods stores.
- GM tops earnings expectations, announces dividend increase and stock buyback program - GM recorded $7.2 billion in special charges for the fourth quarter of 2025, largely related to its pullback in electric vehicles and restructuring in China.
- Trump says tariffs on South Korean autos, pharma, lumber to rise to 25% over trade deal enaction delay - South Korean-based automaker Hyundai Motor is the largest importer of new vehicles from that country into the United States.
- Nike to cut 775 employees as it accelerates 'automation' at U.S. distribution centers - Nike is cutting 775 employees, primarily from jobs at distribution centers in Tennessee and Mississippi.
- Auto executives are hoping for the best and planning for the worst in 2026 - Automakers are entering a new phase of uncertainty as they deal with affordability issues and slowing consumer demand.
- Gov. Walz calls on Trump to halt ICE operations in Minnesota after another fatal shooting - "Minnesota has had it. This is sickening. The President must end this operation. Pull the thousands of violent, untrained officers out of Minnesota," Walz said.
- Iran is not a major oil producer, but it still moves prices. Here's why - Iran is not a major producer of oil, but the recent civil unrest there still moved markets. Here's why.