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America's travel industry is losing a big chunk of foreign tourism, report says

1 week ago | qz.com | Kevin Williams

The United States could see a hemorrhaging hospitality industry lose up to $12.5 billion in international travel tourism dollars this year, collapsing to $169 billion from $181 billion in 2024, according to the World Travel and Tourism Council. Suggested ReadingHow Trump’s tariffs could make your iPhone cost $3,500Suggested ReadingThat would be a 22.5 percent decline from the U.S. international spending peak of $217.4 billion in 2019, per the trade group’s latest Economic Impact Research.
Inflation falls and the trade war stalls: What it means for Fed interest rate cuts

1 week ago | qz.com | Shannon Carroll

The Federal Reserve has been playing a waiting game for months. A lot has changed this week. And the Fed will probably just keep playing the waiting game. The U.S. and China on Monday agreed to a 90-day truce in their trade war, sending markets rallying and easing recession fears. And Tuesday, the Consumer Price Index (CPI) for April showed inflation slowing to an annualized rate of just 2.3%.
Sam Altman's Gen Z brag: 'They don’t really make life decisions without asking ChatGPT'

1 week ago | qz.com | Shannon Carroll

In This StoryWelcome to the ChatGPT generation. Gen Z isn’t just using ChatGPT to finish homework or settle trivia debates — they’re using it to make actual life decisions. From managing relationships to planning career moves, many young users are apparently turning to the AI chatbot as a kind of digital confidant.
Boeing gets a break as China lifts bank. Stock rises

1 week ago | qz.com | Shannon Carroll

In This StoryAfter months of turbulence in the skies of global trade, Boeing (BA) is finally seeing clearer weather in one of its most crucial markets: China. Suggested ReadingHow Trump’s tariffs could make your iPhone cost $3,500Suggested ReadingBloomberg, citing unnamed sources familiar with the matter, reports that Chinese regulators have quietly lifted a ban on local airlines accepting deliveries of Boeing jets.
UnitedHealth Group just switched CEOs and nixed its 2025 guidance

1 week ago | qz.com | Kevin Williams

In This StoryAndrew Witty is stepping down as UnitedHeath Group CEO for personal reasons, the company said Tuesday. He will be replaced by Stephen Hemsley, a longtime UnitedHeath Group executive who was CEO for about a decade and currently chairs the health insurer’s board of directors. Suggested ReadingHow Trump’s tariffs could make your iPhone cost $3,500Suggested ReadingUnitedHeath Group said Witty was resigning for personal reasons.
The trade war ends with Trump blinking — for now

1 week ago | qz.com | Shannon Carroll

If you blinked, you might have missed the president who built his economic agenda on tariffs quietly turning the page on the U.S.-China trade war — for now — with barely a whisper of the fire and fury that he launched it with barely more than a month ago. No fanfare. No victory parade. After bruising tariff hikes, bellicose Truth Social posts, and a supposed “great decoupling” of the U.S. and China economies, the first phase of the trade war between the two countries ended Monday not with a bang.
Trade war truce won’t help Americans dodge price hikes, Fed governor says

1 week ago | qz.com | Michael Barclay

The trade war agreement won’t be enough to avoid price hikes, a Federal Reserve governor said Monday. Suggested ReadingHow Trump’s tariffs could make your iPhone cost $3,500Suggested Reading“Trade policies are evolving and are likely to continue shifting,” Fed governor Adriana Kugler said during a speech in Dublin in one of the biggest understatement’s of the year so far.
Trump says China will 'open itself up to American business'

1 week ago | qz.com | Shannon Carroll

President Donald Trump declared a breakthrough in U.S.–China trade relations, claiming Beijing has agreed to “open itself up to American business” following a significant temporary easing of tariffs between the two economic powers. Suggested ReadingHow Trump’s tariffs could make your iPhone cost $3,500Suggested ReadingEarlier Monday, U.S. and Chinese officials announced a 90-day pause on most tariffs and trade barriers.
What recession? Memorial Day travel is set to break records, AAA says

1 week ago | qz.com | Michael Barclay

The U.S. travel business may be in for some good news, for a change: AAA forecasts that a record number of Americans have plans for domestic travel during the upcoming Memorial Day weekend, with 45.1 million people planning to hit the road or catch a flight.
The U.S. and China called a trade war truce. Here's what to know

1 week ago | qz.com | Shannon Carroll

The U.S. and China have agreed to roll back most of their sky-high reciprocal tariffs for 90 days while they continue negotiations, a significant move to ease weeks of escalating trade war tensions. The agreement, announced early Monday after weekend talks in Geneva, marked a pivotal step toward deescalating a trade war that has disrupted global supply chains, rattled financial markets, and strained relations between the U.S. and China, not to mention with other American trading partners.