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As US Customs refines its tariff refund system, who gets in to apply is under dispute
NEW YORK (AP) — A federal judge questioned a U.S. Customs and Border Protection official Tuesday about the government's process for refunding billions of dollars in tariffs that importers paid before the Supreme Court ruled that President Donald Trump illegally imposed higher duties on goods from most other countries.Court of International Trade Judge Richard Eaton said he wanted to hear details that would help him decide whether to order the government to speed up and expand its system for issuing tariff refunds.
Eaton praised the online system that CBP developed to... Read More
Kalshi to collect employment info from customers trading in some high-risk markets
NEW YORK (AP) — The prediction market platform Kalshi will start collecting customer employment information for trading in certain markets that are at heightened risk of insider trading, the company said.The Tuesday announcement follows several incidents where traders have used inside information to profit on prediction market platforms like Kalshi and Polymarket. Just last week, it was disclosed that former Congressman George Santos was under investigation for allegedly illegally betting he wouldn't attend President Donald Trump's State of the Union address after initially In... Read More
More swings for AI stocks drag Wall Street back on the roller coaster
NEW YORK (AP) — More sudden reversals for high-flying artificial-intelligence stocks sent Wall Street reeling. The S&P 500 fell 0.3% Tuesday after careening between an early gain of 1% and a midday loss of 2.3%. The Dow Jones Industrial Average edged up 0.2%, and the Nasdaq composite sank 1%. Indexes swung lower after companies selling computer chips, memory and other building blocks of the AI boom broke from early gains to losses. The drops for AI stocks drowned out the benefit of lower oil prices, and most stocks in the S&P 500 rose. Treasury yields edged lower in the bond market.Colombian presidential candidate urges prosecutors to investigate alleged voter coercion
BOGOTA, Colombia (AP) — Colombian presidential candidate Abelardo de la Espriella on Tuesday urged prosecutors to investigate whether rebel groups coerced citizens in remote municipalities into voting for governing party candidate Sen. Iván Cepeda during the May 31 first-round presidential election.De la Espriella’s campaign issued a statement saying that Cepeda secured more than 70% of the vote across 109 municipalities with active illegal armed groups, reaching as high as 97% in some locations. Cepeda’s camp didn't immediately respond to the accusations.
FDA OKs first new sunscreen ingredient in more than 25 years
WASHINGTON (AP) — Federal health regulators on Tuesday signed off on the first new sunscreen ingredient for the U.S. market in more than 25 years, giving Americans access to a skin-protecting chemical long used in Europe and other parts of the world.The Food and Drug Administration says the ingredient, bemotrizinol, met the agency’s standards for protecting from dangerous ultraviolet rays while causing little irritation or absorption into the skin. The ingredient is safe for adults and children 6 months and older, the agency stated in a release.
Bemotrizinol will... Read More
Top Stories in Business/Finance
- As US Customs refines its tariff refund system, who gets in to apply is under dispute
- Kalshi to collect employment info from customers trading in some high-risk markets
- More swings for AI stocks drag Wall Street back on the roller coaster
- Colombian presidential candidate urges prosecutors to investigate alleged voter coercion
- FDA OKs first new sunscreen ingredient in more than 25 years
- Social Securityâs retirement trust fund faces funding shortfall one year earlier than expected
- EU orders Meta to restore WhatsApp access for rival AI chatbots
- Carney says the new Canadian-built bridge across Detroit River that Trump threatened will open
- US home sales surge to the fastest pace this year despite rising mortgage rates and prices
- Trump administration warns more than 500 hospitals to provide more price information or face fines
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Stocks
Stocks
More- Kalshi to collect employment info from customers trading in some high-risk markets
- More swings for AI stocks drag Wall Street back on the roller coaster
- US home sales surge to the fastest pace this year despite rising mortgage rates and prices
- Wall Street holds steadier as AI stocks recover some of their sell-off
- From unfilled gas tanks to fewer frills, retailers see US consumers rethink their spending
Economy
- The US job market is strong but many Americans are still frustrated by prospects and rising prices
- Putin rejects Zelenskyy's offer to meet, saying he sees 'no point' in it
- Average US long-term mortgage rate falls to 6.48%, retreating from its highest level in 9 months
- US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February
- Oil prices climb back toward $100, and US stocks halt their record-breaking rally