Three Federal Reserve officials who dissented at this week's policy meeting in favor of an interest rate hike expressed concern on Friday ​that without an immediate increase in short-term borrowing costs inflation will stay stuck above the Fed's 2% target,

The Federal Reserve on Wednesday chose to hold interest rates steady, though three officials voted for a hike. Kelly O'Grady explains what this means for consumers and if a rate hike could come later this year.

Many economists think the Fed will sit on its hands this year and take no action. They point out that Kevin Warsh has set up five task forces to review Fed operations. This gives the Fed chair cover to make no changes until after these committees report their findings,

Fed chair Kevin Warsh has been outspoken about the need to bring inflation down. But his stinginess with details this week has raised anxiety about less predictable policy.

Major oil companies reported massive profits while fighting between Iran and the U.S. impeded petroleum shipments

America's biggest oil companies are reporting massive profits as the Iran war continues to disrupt global energy supplies. CBS News business contributor Javier David joins with analysis.

Analysts are expecting major oil companies to report large profits while fighting between Iran and the U.S. impeded petroleum shipments. Prices for Brent crude soared above $100 a barrel for much

Exxon and Chevron reported a combined $26.5 billion windfall for the second quarter, as many drivers struggle to afford the price of gas.

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The strength in underlying GDP growth during the second quarter is likely to fade sharply in the second half of 2026, according to analysts at Pantheon Macroeconomics. While headline GDP posted a mediocre 1.

The Eurozone's gross domestic product (GDP) grew by 0.4% in the second quarter of 2026, the European Commission's statistical office, Eurostat, announced on Thursday in its first estimate. In the European Union,

Q/Q annual rate vs. +2.3% consensus and +2.1% in Q1, according to data released by the U.S. Bureau of Economic Analysis on Thursday.

British energy major BP is putting its U.K. North Sea business up for sale, paving the way to end oil production in its home country after more than half a century. BP said Friday that it would market the business to potential buyers as it refocuses spending on higher-returning projects elsewhere.

The decision follows a review of BP's operations and is set to end 60 years of production in the region by the oil giant.

Ministers were told the bombshell announcement this morning should serve as a 'deadly serious wake up call' over the future of Britain's huge natural resource.

BP on ‌Friday launched a formal sale process for its UK North Sea business as new Chief Executive Officer Meg O'Neill accelerates a sweeping portfolio overhaul aimed at cutting debt and simplifying the oil major.

The Dow Jones Industrial Average trimmed its loss, down about 600 points, after the Federal Reserve kept rates unchanged. The blue-chip index fell to a session low around midday of 51,793.23, as the below chart shows.

Fed Chair Kevin Warsh reassured markets about a resilient economy, but geopolitical uncertainty remains the major factor for most interested parties right now.

US stocks opened lower on Wednesday as investors awaited the Federal Reserve's latest interest rate decision while monitoring renewed geopolitical tensions in the Middle East and another round of major technology earnings.

Traders will be watching Apple and Amazon earnings, fresh inflation data, and the direction of Treasurys and oil prices.