Business
Trump Tariff Refunds Begin May 11 — Treasury Owes Businesses $166 Billion
First IEEPA tariff refunds launch May 11 after Supreme Court struck down Trump's duties. Treasury owes $166 billion to importers through new CAPE portal system.
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Business, markets, and the economy — corporate earnings, Federal Reserve policy, trade, Big Tech, and the forces driving U.S. and global commerce.
Business
Trump Removes Scotch Whisky Tariffs After King Charles Visit
President Trump announced Thursday he will remove tariffs on Scotch whisky following visit from King Charles III and Queen Camilla to the White House.
Business
Powell Stays at Fed Board Until Investigation Ends — Senate Approves Warsh
Federal Reserve Chair Jerome Powell will remain on the central bank's board after his May 15 term expires until a DOJ investigation into office renovation costs concludes.
Business
Fed Expected to Hold Rates Steady as Powell's Criminal Probe Gets Dropped
Federal Reserve announces rate decision Wednesday as Jerome Powell's term nears end. DOJ dropped criminal probe over renovation testimony, clearing Warsh nomination.
Business
Powell Could Stay at Fed Despite Chair Term Ending — Setting Up Trump Standoff
Fed Chair Jerome Powell delivers final press conference Wednesday as his term expires May 15, but could remain as governor until 2028, escalating tensions with Trump.
Business
Senate Banking Committee Set to Vote on Warsh for Fed Chair as Powell Era Ends
The Senate Banking Committee votes Wednesday on Kevin Warsh's nomination to replace Jerome Powell as Fed chairman, with rates expected to hold steady.
Business
US Sanctions China's Second-Largest Teapot Refinery for Iran Oil Deals
Treasury targets Hengli Petrochemical refinery, claiming it generated hundreds of millions for Iran's military through crude oil purchases from Tehran.
Business
Oil Hits $106 as Trump Seals Hormuz Strait — Iranian Ships Challenge Blockade
Brent crude tops $106 per barrel as President Trump orders Navy to control all Strait of Hormuz traffic while Iran seizes foreign vessels in escalating standoff.
Business
Trump Pushes Private Equity, Crypto Access in 401(k)s Despite Risk Warnings
Trump administration moves to expand alternative investments in retirement accounts as financial experts warn of volatility and complexity risks for workers.