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U.S. retail sales unexpectedly post largest drop in more than a year

By Anne D'Innocenzio, Associated Press

The drop in spending raised concern among some economists about the resiliency of consumers who have powered the economy forward despite nagging inflation and soaring gasoline prices.

Trump White House says it's losing $19B-$26 billion a year in revenue as countries dodge tariffs

By Josh Boak, Associated Press

The report specifically highlights that China responded to new tariffs in 2018 by sending their goods to other nations ranging from Mexico to Malaysia for packaging and limited assembly — a practice known as transshipping.

Wholesale price inflation slows last month as gas and food costs fall

By Christopher Rugaber, Associated Press

Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead.

Bessent said the K-shaped economy 'is over.' Here's what financial experts say

By Maria Ramirez Uribe

At a time when many Americans remain stressed about affordability, Treasury Secretary Scott Bessent has declared that the U.S. economy is no longer in a “K shape,” a term used to describe increasing financial inequality between high- and low-income households.

Inflation cooled last month as gas prices fell, though costs remain elevated

By Christopher Rugaber, Associated Press

The modest decline could ease pressure on the Federal Reserve to raise their key interest rate to combat rising costs. Yet prices are still rising more quickly than average wages, underscoring the struggle many Americans have had with more expensive…

Credit card debt surges in U.S. as high interest rates make it harder to pay off

By Paul Solman, Ryan Connelly Holmes

Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics…

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U.S. stocks edge further from their records as oil prices keep swinging

By Stan Choe, Associated Press

U.S. stocks slipped a bit further from their records Tuesday, while oil prices kept swinging on uncertainty about when the war with Iran will allow crude to flow freely again.

U.S. existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers

By Matt Ott, Associated Press

Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective homebuyers.

What Meta's new open-source AI model means for the future of artificial intelligence

By William Brangham, Azhar Merchant

Meta, the company behind Facebook and Instagram, has released a free artificial intelligence tool. The release was accompanied by a 14-page essay from CEO Mark Zuckerberg championing his view of how AI could transform our world and what protections are…

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