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This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. US consumer spending remains strong despite economic uncertainty. Capital One reported a 5% rise in credit card purchase volume to $157.9 billion in the first quarter. Consumer debt repayment…
President Donald Trump said final tariffs on goods from China would “not be anywhere near” the current rate of 145%, and would “come down substantially.”During a press conference in the Oval Office on Tuesday, Trump told reporters that “145% is very high, and it won’t be that high.””It’ll come down…
Demi Moore, 62, is all about getting plenty of sleep and a clean diet — but she’s not quite ready to give up her one guilty pleasure.In an interview for the cover of People’s World’s Most Beautiful 2025 issue, Moore spoke about her wellness routine and how it’s changed over…
Tesla came up short in its first-quarter earnings on Tuesday, missing Wall Street’s estimates amid a slump in sales and looming uncertainty in the auto industry.The EV giant used its Tuesday call to share key updates that address some of investors’ concerns hanging over a particularly weak quarter.For instance, Tesla…
Tesla provided more details about its planned June robotaxi launch in Austin during Tuesday’s Q1 earnings call.A robotaxi service from Tesla comes years after several missed deadlines and an increasingly competitive — but smaller — field.General Motors’s Cruise bowed out of the race earlier this year, but Alphabet’s Waymo has continuously…
President Donald Trump said Tuesday he has no intention of firing Federal Reserve Chair Jerome Powell, despite wishing the Fed would cut interest rates.Trump, who has feuded with Powell for years, told reporters at the White House: “I have no intention of firing him. I would like to see him…
On Tuesday, former Treasury Secretary Lawrence Summers said that Donald Trump’s “misguided, wanton attack on the IRS” could cost the government $1 trillion over the next decade.As part of his aggressive cost-cutting strategy, Trump has ordered sweeping cuts at the Internal Revenue Service to increase the agency’s “efficiency and effectiveness.” These layoffs include a…
“The Secret Lives of Mormon Wives” is officially one of Hulu’s biggest reality hits — and it will soon be back for more episodes.The reality series follows a group of eight Mormon mothers and content creators who are part of a TikTok collective known as “MomTok.” In May 2022, one of…
Elon Musk said he will step back from the White House DOGE office after spending three months trying to radically reshape the federal government and its workforce.”Starting next month, I will be allocating far more of my time to Tesla,” Musk said Tuesday during Tesla’s earnings call, noting that “the…
Tesla reported a revenue loss from its electric vehicles fall year over year in the first quarter. The electric vehicle maker, run by CEO Elon Musk, generated $13.97 billion in automotive revenue in the first three months of 2025, marking a drop of nearly 20% from the same quarter last…
