The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue. Fed Chair Jerome Powell asked for the review, following blistering criticism of the project, initially pegged at $2.5 billion but hit by cost overruns that...

LONDON/NEW YORK, July 11 (Reuters) – Suppliers to Walmart WMT.N have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as U.S. President Donald Trump’s threat of a 35% tariff on the textile hub disrupts business. Bangladesh is the...

President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country’s total supply, according to data from the U.S. Department of Agriculture. Coffee beans need to grow in a warm, tropical climate, making Hawaii...

What’s “Froot Loops” in Italian? The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion. The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer of Nutella, Tic Tac and...

President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters. The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war...

Oak View Group CEO Tim Leiweke was indicted on a federal criminal conspiracy charge related to allegedly rigging a bid to develop, manage, and operate the University of Texas’ basketball and entertainment arena in Austin, the Department of Justice said Wednesday. Oak View Group, which will pay $15 million in penalties in connection with the...

Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair...

Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year. For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer...

Waymo announced Tuesday that it is offering accounts for teens ages 14 to 17, starting in Phoenix. The Alphabet-owned company said that, beginning Tuesday, parents in Phoenix can use their Waymo accounts “to invite their teen into the program, pairing them together.” Once their account is activated, teens can hail fully autonomous rides. Previously, users...

Chinese chain Luckin Coffee opened its first two U.S. locations this week, betting that mobile-only ordering and creative flavors can lure customers away from Starbucks. Both new Luckin stores are based in Manhattan, and at the midtown location on Wednesday, Sam Liu took a sip of her jasmine cold brew. “I’ve never tried anything like...