Business news
- Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision - The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
- Microsoft stock sinks on report AI product sales are missing growth goals - Microsoft stock sank after a report that multiple sales teams for the company's Azure Foundry product missed growth goals in the last fiscal year.
- Trump administration to announce new fuel economy standards Wednesday, sources say - The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards.
- November private payrolls unexpectedly fell by 32,000, led by steep small business job cuts, ADP reports - The payrolls decline marked a sharp step down from October, which saw an upwardly revised gain of 47,000 positions.
- Macy’s posts strongest growth in more than 3 years, but strikes cautious note on holidays - RetailMacyâs posts strongest growth in more than 3 years, but strikes cautious note on holidaysPublished Wed, Dec 3 20256:57 AM ESTMelissa Repko@in/melissa-re
- Musk's Starlink rival Eutelsat shares plummet 7% after report of SoftBank cutting its stake - The French satellite group has seen its stock fall following a steep hike in March.
- India is set to host Russia's Putin, deepening trade ties, unfazed by punitive U.S. tariffs - The two countries are looking to strengthen trade ties and are likely to sign bilateral interdepartmental and business agreements during Putin's visit.
- iPhone 17 will drive record Apple shipments in 2025, IDC says - Apple will ship 247.4 million iPhones in 2025, up just over 6% year-on-year, research firm IDC forecast.
- Russia 'ready' for war with Europe, Putin says, as Ukraine peace talks fail to deliver breakthrough - Russian President Vladimir Putin doubled down on threats toward Europe ahead of peace talks with the U.S., saying Moscow was "ready" for war.
- CNBC's The China Connection newsletter: Three economic flashpoints for 2026 - China's top leaders are expected to discuss economic plans for the year ahead during an annual meeting next week.