Lauren Aratani

The US Federal Reserve left interest rates unchanged after its latest board meeting, defying once again Donald Trump's call for a cut as the central bank prepares for a leadership shake-up next month.

First quarter output, driven by AI investment and government spending, rose as oil shock fuels inflation fears

In a gesture of diplomatic friendliness after King Charles's visit to the White House, Donald Trump said the US would be removing all tariffs on whisky imports.

Company had struggled to increase post-pandemic demand before war in Iran pushed up jet fuel costs

Lauren Aratani in New York Spirit Airlines has announced that it has gone out of business after the low-cost airline ran out of cash and a rescue attempt by theTrump administrationappeared to stall.

Edward Helmore and Lauren Aratani in New York The US secretary of transportation, Sean Duffy, has announced a series of measures to help

Ryan Cohen selling tube socks and baseball cards after offering $55.5bn, although source of funds remains unclear

Warsh would succeed outgoing Fed chair Jerome Powell as Trump continues his push to influence the US central bank

Wall Street has proved incredibly resilient to instability, and while consumer confidence has dipped, shares have soared

US stock markets have not just recovered from the losses they suffered, but are thriving. Composite: Rita Liu/The Guardian/Getty Images