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By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — U.S. consumers were much less confident in the economy in November in the aftermath of the government shutdown, weak hiring and stubborn inflation.

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The Conference Board said Tuesday that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the lowest reading since April, when President Donald Trump announced sweeping tariffs that caused the stock market to plunge.

The figures suggest that Americans are increasingly wary of high costs and sluggish job gains, with perceptions of the labor market worsening, the survey found. Declining confidence could pose political problems for Trump and Republicans in Congress, as the dimmer views of the economy were seen among all political affiliations and were particularly sharp among independents, the Conference Board said. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks are rising Tuesday following updates on the economy that kept alive hopes for a coming cut to interest rates.

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The S&P 500 rose 0.7% in afternoon trading, as 4 out of every 5 stocks within the index climbed. The Dow Jones Industrial Average was up 540 points, or 1.2%, as of 12:56 p.m. Eastern time, and the Nasdaq composite was 0.4% higher.

The gains for indexes masked some swings underneath the surface, particularly among stocks linked to the artificial-intelligence industry. read more

By Libby Wells, Bankrate.com

Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store.

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Here’s what experts say about how to keep your money — and your data — safe, plus how to choose banks that prioritize your security.

Is mobile banking safe?

In short, yes — if you’re smart about it.

“If you download the mobile app from a secure store, that is just as safe as visiting a bank branch,” says Paul Benda, senior vice president for operational risk and cybersecurity at American Bankers Association. read more

By JOSH FUNK

OMAHA, Neb. (AP) — Tyson Foods’ decision to close a beef plant that employs nearly one third of residents of Lexington, Nebraska, could devastate the small city and undermine the profits of ranchers nationwide.

Closing a single slaughterhouse might not seem significant, but the Lexington plant employs roughly 3,200 people in the city of 11,000 and has the capacity to slaughter some 5,000 head of cattle a day. Tyson also plans to cut one of the two shifts at a plant in Amarillo, Texas, and eliminate 1,700 jobs there. Together those two moves will reduce beef processing capacity nationwide by 7-9%.

Consumers may not see prices change much at the grocery store over the next six months because all the cattle that are now being prepared for slaughter will still be processed, potentially just at a different plant. But in the long run, beef prices may continue to climb even higher than the current record highs — caused by a variety of factors from drought to tariffs — unless American ranchers decide to raise more cattle, which they have little incentive to do. read more

Jack Nicklaus’s former company has filed voluntary Chapter 11 bankruptcy cases after the golf legend won a $50 million award in a defamation lawsuit against the company last month.

Nicklaus filed the 2023 lawsuit against Nicklaus Companies LLC; the company’s executive chairman and billionaire banker Howard Milstein; and executive vice president of Nicklaus Companies Andrew O’Brien. It centered on statements made in another lawsuit filed in New York.

Nicklaus’s attorneys argued that the New York lawsuit included false claims that Nicklaus wanted to accept a leadership role with the controversial Saudi golf league LIV Golf, and those claims were widely circulated to news reporters, clients and others in the golfing world.

In October, the Palm Beach County jury determined Nicklaus Companies was liable for actively participating in the publishing of false facts and defamatory statements, awarding the 85-year-old North Palm Beach resident $50 million in damages, according to the verdict. The jury did not find Milstein and O’Brien personally liable, and they will not pay any part of the damages. read more