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Tariffs, inflation and leery customers are hitting retailers in different ways

Tariffs, inflation and leery customers are hitting retailers in different ways

By MICHELLE CHAPMAN

Retailers are trying to navigate their way through economic uncertainty in 2025. Tariffs, inflation and lingering fears of a recession have left many Americans uneasy and pulling back on spending.

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Because consumer spending accounts for about 70% of U.S. economic activity, a retreat would heighten the odds of contraction for the U.S. economy.

With earnings from major retailers wrapping up it’s become clear that the trade war launched by the Trump administration is impacting retailers in very different ways.

Walmart earned a public rebuke from President Donald Trump after it said last week that it has already raised prices and will have to do so again this summer, right when the back-to-school shopping season kicks off. Trump told the retail giant that it should “eat” the additional costs created by his tariffs. read more

OpenAI recruits legendary iPhone designer Jony Ive to work on AI hardware in $6.5B deal

OpenAI recruits legendary iPhone designer Jony Ive to work on AI hardware in $6.5B deal

SAN FRANCISCO (AP) — OpenAI has recruited Jony Ive, the designer behind Apple’s iPhone, to lead a new hardware project for the artificial intelligence company that makes ChatGPT.

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OpenAI said it is acquiring io, a product and engineering company co-founded by Ive, in a deal valued at nearly $6.5 billion.

OpenAI said its CEO Sam Altman had been “quietly” collaborating since 2023 with Ive and his design firm, LoveFrom.

Ive worked at Apple for over two decades and is known for his work on iconic iPhone, iMac and iPad designs. Ive was Apple’s chief design officer before leaving the company in 2019 to start his own design firm. read more

Fortnite video game returns to iPhone app store in U.S., ending exile imposed by Apple

Fortnite video game returns to iPhone app store in U.S., ending exile imposed by Apple

By MICHAEL LIEDTKE

The popular video game Fortnite has returned to the iPhone app store in the U.S., ending a prolonged exile that was triggered by a legal showdown over the lucrative fees that Apple had been collecting for years through a payment system that it has been forced to change.

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Fortnite hailed its app’s long-awaited restoration to the iPhone and iPad in a Tuesday post, marking the first time it will be available on those devices since it was ousted in 2020 for trying to avoid the 15% to 30% commissions that Apple collects on in-app transactions. read more

Ways to reduce financial stress during uncertain times

Ways to reduce financial stress during uncertain times

When the economy feels uncertain, it’s easy to let that sense of unease slip into your personal finances.

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But there are strategies that can help you maintain a sense of control over your own money — even when the financial news headlines are unsettling.

Here are six techniques to consider:

1. Explore the source of stress

If you notice yourself feeling tension around money, Denver-based financial therapist Wendy Wright suggests first considering what is stirring up those feelings.

“Is it connected to fears, sadness, feeling pressed to look at something you’re trying to avoid?” asks Wright. read more

Bitcoin hits new price highs as crypto industry scores wins

Bitcoin hits new price highs as crypto industry scores wins

By ALAN SUDERMAN

Bitcoin hit a new all-time high as the world’s most popular cryptocurrency reached price levels not seen since President Donald Trump’s inauguration.

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The digital asset traded above $109,400 Wednesday morning, a huge increase from recent lows of about $75,000 last month.

Several other cryptocurrencies have seen similar large gains in recent days. That includes Trump’s official meme coins, which have jumped up about 75% in the last month. The president is set to have dinner Thursday with some of the meme coins’ biggest investors, a move that’s drawn intense criticism from some Democrats who say that Trump is improperly using the power of the presidency to boost his personal wealth. read more