Average rate on a 30-year mortgage falls to lowest level in nearly a year
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Associated Press
Articles
Trump takes one step back, another forward in his attempt to reshape the Fed
Here are where things stand regarding Trump, the Federal Reserve, and its traditional independence.
Inflation worsened last month, putting Fed in difficult spot as job market slows
The reading is the last the Federal Reserve will receive before its two-day meeting that begins Tuesday, where policymakers are widely expected to cut their short-term rate.
Trump’s plan for drug advertising crackdown faces many hurdles
President Donald Trump signed a memo Tuesday that directs the FDA and other agencies to step up enforcement against ubiquitous prescription drug ads on TV, websites and social media.
Democratic senator warns colleagues of ‘distorted system’ if college sports bill passes
The bill would provide limited antitrust exemption for the NCAA, override state laws governing paying players in favor of one national statute and remove the possibility of athletes being considered employees of their schools.
NCAA bans 3 college basketball players for betting on their own games
The Indianapolis-based NCAA said the three Division I players bet on one another’s games and/or provided information that enabled others to do so during the 2024-25 regular season. Two of them manipulated their performances to ensure certain bets were won.
Lilly rival Novo Nordisk, maker of obesity drug Wegovy, to cut 9,000 jobs
The restructuring, which would eliminate 11% of the company’s workforce, aimed to reduce organizational complexity and speed up decision-making as the company faces a more competitive market for obesity drugs.
United States supply chain prices unexpectedly fell in August
The drop in producer prices makes it even more likely that the Federal Reserve will cut its benchmark interest rate next week for the first time this year.
Trump administration seeks to cancel Biden-era rule that made conservation a ‘use’ of public land
The rule was a key part of efforts under former President Joe Biden to refocus the Interior Department’s Bureau of Land Management, which oversees about 10% of land in the U.S.
Buy-now-pay-later company Klarna goes public in largest IPO of 2025
Klarna sold 34.3 million shares to investors at $40 a share late Tuesday. That’s above the forecasted range of $35 to $37 a share and values the company at more than $15 billion.
Potbelly being acquired by gas station chain RaceTrac for $566M
Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the United States, including four locations in the Indianapolis area and seven others statewide.
Supreme Court to quickly consider if Trump has power to impose sweeping tariffs
The Supreme Court granted an unusually quick hearing on President Donald Trump’s sweeping tariffs on Tuesday, putting a policy at the center of his economic agenda squarely before the nation’s highest court.
Apple’s iPhone 17 lineup includes new ultra-thin model, $100 price hike for Pro
In what has become an annual rite for Apple, all four new iPhone 17 models will feature better cameras and longer-lasting batteries than last year’s lineup.
U.S. Steel to end steel production in Illinois, ‘optimize’ operations in Indiana, Pennsylvania
U.S. Steel will cut production at the Illinois plant, likely in November, but it won’t lay off any of the roughly 800 workers there or reduce their pay, it said.
Job market much weaker than thought in 2024 and early 2025, according to revised data
Employers added 911,000 fewer jobs than originally reported in the year that ended in March 2025, the Labor Department reported Tuesday.
Apple to unveil next iPhone amid trade war that could result in higher prices
If Apple does announce price increases, it will come just weeks after Google held steady on prices for its new Pixel smartphones.
Trump asks Supreme Court for emergency order to keep billions of dollars in foreign aid frozen
The crux of the legal fight is over nearly $5 billion in congressionally approved aid that President Donald Trump last month said he would not spend.
Musk’s SpaceX spends $17B to acquire spectrum licenses from EchoStar
EchoStar said recent deals will resolve inquiries from the Federal Communications Commission about the rollout of 5G technology.
PNC to expand westward with $4.1B acquisition of FirstBank
PNC has been on an acquisition streak in the last few years to make the bank one of the biggest players in retail banking in the country.
AI shakes up the call center industry, but humans remain a necessity
It’s become evident that the industry will still need humans, perhaps with even higher levels of learning and training.