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U.S. markets ended August mixed with the S&P 500 hitting new peaks yet closing lower Friday amid tech sell-offs and inflation concerns. The Nasdaq slid on disappointing chip revenue forecasts, while the Dow showed modest declines. Inflation data steady core pressures maintain Fed rate cut expectations, leaving markets cautious ahead of September.
Federal appeals courts strike down most of President Trump’s sweeping global tariffs, ruling he exceeded emergency powers. The cases may go to the Supreme Court, but tariffs remain temporarily in place.
$679 million – Federal funding canceled for offshore wind projects under Trump administration
Spirit Airlines struggles under financial pressure, filing for bankruptcy protection for a second time within a year amid mounting losses and a challenging recovery affected by tariffs.
The end of the U.S. de minimis tariff exemption for low-value imports causes disruption in international shipping and raises costs for consumers and retailers globally.
PepsiCo Boosts Stake in Celsius With $585 Million Deal
PepsiCo increased its holding in energy drink maker Celsius, injecting $585 million to expand distribution and capitalize on strong growth prospects.
More on financialpost.com
Meta faces internal challenges as AI leaders discuss integration of external AI models, while controversy mounts over inappropriate chatbot interactions with minors, prompting policy updates.
Caterpillar warns of rising costs due to tariffs, signaling that other firms may also raise prices amid tariff-induced inflation pressures.
Spirit Airlines Files for Second Bankruptcy in a Year as Losses Mount
The budget carrier Spirit Airlines filed for Chapter 11 protection again amid ongoing financial struggles and the impacts of tariff costs.
More on foxbusiness.com
Federal Reserve Governor Lisa Cook fights legal battle as President Trump moves to fire her, raising questions about presidential power over the Fed and agency independence.
California lawmakers strike a deal allowing Uber and Lyft drivers to unionize, marking a significant development in gig workers’ labor rights.
U.S. administration ended the ‘de minimis’ tariff exemption on imports valued under $800, imposing new tariffs on millions of small shipments to the U.S effective August 29, causing global shipping disruptions.
U.S. government cancels $679 million in federal funding for multiple offshore wind projects, intensifying pressure on an already struggling renewable energy sector under the Trump administration.
Nvidia faces market challenges despite growth, including chip export controls and competition from Alibaba’s new AI chip, which is part of China’s push for domestic technology independence.
We’re at the beginning of the AI revolution, which will probably bring four-day work weeks and transform social behavior.
— Nvidia CEO Jensen Huang
Spirit Airlines’ precarious financial condition worsens with bankruptcy filings and plunging stock prices reflecting market’s loss of confidence.
U.S. inflation remains persistent with core measures ticking higher amidst ongoing tariff pressures, keeping the Federal Reserve poised for a likely interest rate cut.
Tesla challenges a $243 million verdict in a fatal crash lawsuit, arguing driver responsibility as legal contests mount.
US airlines and the broader transportation sector grapple with financial pressures amid shifting market conditions and regulatory challenges.
Federal Reserve officials signal openness to interest rate cuts amidst economic signals of slowing growth and inflation pressures.
US imposes stricter export controls on semiconductor equipment to China affecting major players Samsung and SK Hynix, marking a shift in tech trade restrictions.
President Trump asserts expansive authority to veto congressional foreign aid approvals, escalating political and legal tensions.
China and Russia reaffirm strong bilateral ties with an emphasis on multipolar world order as global geopolitical dynamics evolve.
U.S. Court rulings challenge administrative overreach on tariffs and Federal Reserve independence, triggering wider debates on executive authority limits.
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