business News — Wiresavvy
Wiresavvy Business News covers U.S. companies, corporate strategy, leadership, and the forces shaping the modern economy.
Federal Reserve Bank of New York: Consumers and Businesses Bore Nearly 90% of 2025 Tariff Costs
A new Federal Reserve Bank of New York analysis finds that nearly 90% of the economic burden from 2025 tariffs was paid by U.S. consumers and businesses, challenging claims that foreign exporters absorbed most costs.
Tesla Profit Drops 46% Amid Declining EV Sales, Shifting Focus to AI and Robotaxi Services
Tesla's profits have fallen 46% as it loses its position as the top EV maker to BYD. With declining sales and rising competition, the company pivots towards AI, self-driving cars, and robotaxis.
Nike to Lay Off 775 Workers as Automation Reshapes
Nike is laying off 775 employees in the US as automation reshapes distribution centers, highlighting broader changes in technology and workforce management.
U.S.–Taiwan Trade Deal Secures $250B Chip Investment, Lowers Tariffs
The US and Taiwan have signed a big trade deal that will lower tariffs, bring in $250 billion in semiconductor investment, and help the US make more chips. This is important because there are problems in the global supply chain and between countries.