Following his high-stakes meeting with Chinese President Xi, President Trump told reporters it was “an amazing meeting,” adding that Xi is a “great leader.” Trump said among the topics discussed in the “friendly meeting” were tariffs, fentanyl, rare earth minerals and more.
Category Archives: business
Tens of thousands of layoffs are being blamed on AI. Experts say there may be more to the story.
Large U.S. companies are pointing to AI to justify job cuts. But some experts question whether AI is cover for more traditional business challenges.
Hurricane Melissa leaves trail of devastation in Jamaica
Hurricane Melissa, a monster Category 5 storm, caused catastrophic destruction in Jamaica. Homes were torn apart and streets were inundated with water. Some of the hardest hit communities are impossible to reach. The massive storm made a second landfall in Cuba, before taking aim at the Bahamas. NBC News’ George Solis is there.
Trump lowers fentanyl tariffs on China, while Xi delays rare earth export controls
President Donald Trump and Chinese leader Xi Jinping will meet in Busan, South Korea, to discuss tariffs, fentanyl and rare-earth minerals.
Drone video shows Hurricane Melissa damage in Jamaica
Aerial footage shows extensive flooding and damage to buildings across western Jamaica, caused by the record-breaking Hurricane Melissa.
GM to cut thousands of jobs in Michigan, Tennessee and Ohio
General Motors plans to lay off about 1,200 workers at its Detroit-area all-electric factory and cut 550 jobs at its Ultium battery facility in Ohio.
Nvidia becomes the first company worth $5 trillion, powered by the AI frenzy
AI giant Nvidia notched yet another historic milestone, becoming the first company ever worth $5 trillion.
Paramount Skydance begins layoffs, plans to slash about 2,000 jobs
Paramount began a sweeping round of layoffs Wednesday, according to a memo from CEO David Ellison, just months after the Trump administration greenlit its controversial $8 billion merger with Skydance, an entertainment group looking to shake up the entire media ecosystem.
Jamaica a Disaster Area After Hurricane Melissa Makes Landfall
Hurricane Melissa is wreaking havoc in Cuba after absolutely devastating the island of Jamaica as a Category 5 storm with destructive 185-mile-per-hour winds and heavy rain that caused catastrophic flooding and landslides. NBC’s George Solis reports and TODAY’s Al Roker tracks where it’s headed next.
Fed cuts key interest rate as big firms lay off thousands and inflation creeps higher
The Federal Reserve on Wednesday cut its benchmark interest rate for the second time this year as it seeks to boost economic activity and rejuvenate the sluggish labor market despite concerns about persistent inflation