BUSINESS

NY Fed Survey Finds Big Drop In Expected Spending Plans

A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles
U.S. households predicted last month a sharp pullback in spending plans over the next year, in a report that also found moderating expectations for near-term inflation, the Federal Reserve Bank of New York said Tuesday.
Signage is seen at the United States Department of Labor headquarters in Washington, D.C.

New Biden Labor Rule Would Make Some Contractors Employees

The U.S. Department of Labor proposed a rule on Tuesday that would make it more difficult for companies to treat workers as independent contractors, a change that is expected to shake up the business models of the ridesharing, delivery and other industries that rely on gig workers.
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Woman walks past a BYD sign at the second media day for the Shanghai auto show in Shanghai

BYD Enters India's Passenger Car Market Amid Global Push

Warren Buffet-backed Chinese electric carmaker BYD launched its first passenger car in India on Tuesday, an electric sport-utility vehicle (SUV), marking its entry into the mainstream market amid a broader global expansion.
Illustration picture of Japanese yen and U.S. dollar banknotes

Dollar Gains, Yen Flirts With Intervention Levels

The dollar loomed large over fragile financial markets on Tuesday, with worries about rising interest rates, global growth and geopolitical tensions unsettling investors, while the yen was testing levels that have prompted official intervention.

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