ECONOMY

If labor unions and railroads don’t reach a deal by the end of Thursday, freight trains will come to a stop across the country, posing a major threat to the nation’s economy.

If railroad companies and workers can’t resolve their dispute by Thursday night, the country could see its first railroad strike in 30 years.

Nicole Rodrigues, UCLA Anderson MBA and CEO and founder of an independent public relations firm, appeared on KPRC 2+ to share how businesses can better weather the economic storm by continuing to invest in promoting their brands.

Texas had more houses on the market in July than any time since late 2020 as home sales declined in the state’s major metros. Sellers have had to cut prices to entice buyers.

Cotton is Texas’ largest crop, and industry experts say they expect just half the normal annual yield — which will drive up costs for consumers.

New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.

People earning $125,000 or less will see $10,000 eliminated from their student loan debt. People in that group who received federal Pell Grants will see $20,000 in debt eliminated, a move intended to help low-income borrowers.

One portion of the house has the original basketball court and bleachers, while another portion was renovated into elements of what typical homes have, such as a kitchen, bathroom and bedrooms.

Houston Newsmakers: Inflation reduction act may not help inflation, research says

In a new article, The Washington Post breaks down how the U.S. knew Russia would invade Ukraine, and began to prepare the country to go to war. Washington Post national security reporter Karen DeYoung joins CBS News to discuss.

The unemployment rate dipped to 3.5%, tying a 50-year low reached just before the coronavirus pandemic slammed the U.S. economy in early 2020.

The bill would invest billions into issues acutely impacting Texas, including climate change and health care, and is the result of months of intraparty fighting between moderates and progressives.

Lawmakers let the program, known as Chapter 313, expire at the end of this year after the Senate declined to consider a bill extending it. It was the first time in its 20-year history that legislators decided not to renew the program.

Time will tell if the trend will continue as school starts and the fall approaches.

The federal environment agency says it will continue flyovers of the Permian Basin in Texas and New Mexico until Aug. 15 using infrared cameras to survey oil and gas operations.

The Great Lakes might be home to the world’s most abundant supply of freshwater whitefish, and to many, that treat tastes even better when it is smoked to give it even more flavor.

The Las Vegas Valley saw widespread flooding after severe thunderstorms, leaving multiple casinos on the Las Vegas Strip with water damage.

Four corporate landlords, including Dallas-based Invitation Homes, tried to evict thousands of tenants during a federal ban on evictions, according to an investigation by a congressional subcommittee.

In spite of strong support among Texas GOP leaders, nearly all Texas House Republicans voted against the bill intended to boost the state’s semiconductor industry.

There are still mounting concerns about the U.S. economy's resilience. Inflation is at 40-year highs, home sales are weakening and even the-red hot labor market is beginning to show cracks.

Federal Reserve Chairman Jerome Powell said on Wednesday he does not believe the U.S. economy is in a recession as the central bank raised rates further to fight inflation. "This is a very strong labor market....it doesn't make sense that the economy would be in a recession with this kind of thing happening." Investors are fearing the Fed's hiking campaign may tip the economy into a recession. The gross domestic product reading for the second quarter is due on Thursday with economists expecting the economy to have barely expanded following a 1.6% contraction in the first quarter. Many on Wall Street refer to two consecutive negative quarters as a recession, but the official definition takes into account more factors than just GDP.

Heat-related emergency calls have spiked amid historic heat. Cooling centers are available in major cities but often close in the late afternoon — during the hottest parts of the day.

As companies like Samsung and Texas Instruments expand their operations in the state, Gov. Greg Abbott and other state leaders are backing federal efforts to grow the industry.

The Federal Reserve meets today and many anticipate it will increase interest rates by three-quarters of a percentage point, if not a full point.

"Rebooting" the UK's "brittle" economy would be Labour's main focus, its leader will say.

Cryptocurrency mining requires huge amounts of electricity, prompting concerns over the industry’s environmental impact — and whether the state’s grid can keep up.

After a lull because of COVID-19, Houston’s very own Comicpalooza is back and bigger than last year!

Inflation has risen to 9.1% over the past year, according to Bureau of Labor Statistics.

Inflation has risen to 9.1% over the past year, according to Bureau of Labor Statistics.

Name a product, and somehow cherries have found their way into them when visiting the Cherry Republic, a group of stores in Michigan.

June's big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather ahead.

Tucked along the Little Traverse Bay in Northern Michigan, Petoskey is a hotspot in the summer for tourists with its scenic water views, boating and other water activities.

The cost of electricity in Texas is tightly tied to the price of natural gas, which has more than doubled since Russia invaded Ukraine in late February.

Of Texas’ 254 counties, 27 no longer have a newspaper. Loss of local news coverage has been associated with higher levels of mistrust, misinformation and malfeasance. Only California and New Jersey have lost more newspaper journalists, relative to population.

2011 was the driest year on record for Texas, causing an estimated cost of $7.62 billion in crop and livestock losses. A dry and hot June has many sounding alarm bells about 2022.

For nearly two years, the U.S. economy has notched blockbuster gains, with millions of new jobs and wage hikes adding to the streak of good news. But now economists are bracing for a cool-down.

It is the latest example of how Texas Democrats are on edge over the administration’s approach to high gas prices.

The economy contracted by 0.3% in April after it shrank by 0.1% in March, official figures show.

Inflation is pushing up prices on everything from gas to eggs.

We want to know how you’re coping with rising prices.

The global economy may be headed for years of weak growth and rising prices, a toxic combination that will test the stability of dozens of countries still struggling to rebound from the pandemic, the World Bank warned.

During an uncertain period for the U.S. economy, The Washington Post is producing a series of animated guides examining several important trends, including persistent inflation and soaring gas prices.

Daniel Alexander was enslaved when he founded a farm before the Civil War. 175 years later, his family is fighting to keep it intact as Texas plans to expand U.S. Highway 183.

Alan Blinder, former Federal Reserve vice chair, thinks that it's likely the U.S. will fall into a recession next year.

The state’s poorest mothers are paying hundreds of dollars out of pocket when they find baby formula because they say they can’t risk waiting for the exact brand and size container covered by Texas’ Women, Infant and Children program.

Sterling hit a two-year low versus the U.S. dollar following the GDP data as traders digested growing uncertainty about the U.K.'s economic outlook.

Join us in Austin from Sept. 22-24 for our biggest and best ideas weekend ever. The 30 speakers we’re announcing today are only a hint of what we have planned.

An EU ban on oil and gas from Russia would limit its ability to fight in Ukraine, Sergeii Marchenko says.

The state’s high property taxes have taken center stage as Texas’ real estate market explodes and drives up home values.

Austin joins at least 28 U.S. cities, like Los Angeles, Chicago and Pittsburgh, that have tried out some form of “guaranteed income” — financial assistance targeted at needy households.

Texas is a great state, but there’s a lot of work to do, and it starts with the public — and what Texans really want. The political class isn’t going to do this on its own.

Texas political leaders usually settle for caution. The big stuff is risky, but it’s also possible — and even inspiring — to see leaders ignoring the small stuff and aiming higher.

Texas school districts, cities and counties rely heavily on property taxes to pay for roads, libraries, police, firefighters and public schools. But lowering tax bills has long been a difficult endeavor.

China on Monday posted better-than-expected GDP growth in the first quarter, though retail sales for March slumped amid ongoing Covid lockdowns on the mainland.

The deals Abbott made with three of the four Mexican border governors don’t include any new security measures south of the border. Abbott threatened to restart the inspections if Mexican states don’t slow migration to Texas.

Houston, Dallas, Fort Worth and Austin all ranked among the top 10 cities for new eviction filings in early April, among the 31 cities tracked by Eviction Lab.

Like other states, Texas found out during the pandemic how critical high-speed broadband is for school, work and medicine. And the state is working to expand it — but it’s going to be at least a year before Texans start to see results.

The announcements come a day after Abbott reached a similar deal with Nuevo León’s governor, who agreed to add security at a major border bridge in exchange for an end to increased vehicle inspections by Texas troopers.

Gov. Greg Abbott is slated to have a meeting and press event with Samuel Alejandro García Sepúlveda — the Mexican governor of Nuevo León, the state that includes a section of the border near Laredo — later Wednesday afternoon.

Public education in Texas — like everywhere in the country — is hurting after more than two years of pandemic. But many in the political class are preoccupied with reforms that have more to do with social issues than with education.

The pressures pushing up costs for consumers are also hitting agencies trying to combat hunger, making it hard to keep up with rising demand for their aid.

Commercial traffic at the Pharr-Reynosa International Bridge stopped Monday and a similar protest affected traffic into and out of El Paso. The blockades could impact the flow of produce to restaurants and grocery stores.

Though the economy may be the focus of November’s congressional elections, other divisive topics -- some new, some perennial -- will also vie for attention from voters. These so-called wedge issues are being fanned mostly by Republicans, who see little downside in taking on polarizing issues that might motivate conservative voters. The Supreme Court, with six of its nine seats filled by conservative justices appointed by Republicans, seems poised to stir things up even further with upcoming deci

Trucks delivering products from Mexico are facing hourslong waits at ports of entry.

The Biden White House is betting the U.S. economy is strong enough to withstand the threats to growth posed by inflation and the war in Ukraine.

The governor is pushing for more border security measures, some of which he acknowledges will slow traffic across the Texas-Mexico border.

Inflation is the topic of the month in our solutions journalism show, “Solutionaries.”

Some futurists depict Michigan and the Great Lakes as “climate havens” that will lure people and businesses weary of worsening drought, wildfire, hurricanes and other disasters. Not so fast, skeptics say.

Elizabeth Economy looks closely at Xi Jinping's push to make China the center of the world.

Economic activity jumped by 6.9% in the last three months of last year, beating forecasts.

The German economy grew by 2.7% in 2021, despite another year of surging Covid-19 cases, pandemic-related restrictions and supply chain pressures.

Prices rose 6.8% in the year to November with the cost of fuel, used cars and food rising fastest.

A large Russian island north of Japan will be a testing ground for Moscow’s efforts to reconcile its prized fossil fuel industry with the need to do something about climate change

October's job creation was strong in almost every sector, as hiring across industries helped the broader U.S. economy rebound from a late-summer lull.

Can free flights and rent lure the foreign workers back to Australia who quit when Covid arrived?

Yes, growth was weaker than forecast in the third quarter, but the latest GDP report also shows that the softness is temporary.

The Taliban's hold over the country is not in dispute but it is facing challenges from women against its extreme version of sharia law and guerrilla fighters in Afghanistan's north.

Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes. “We're not simply going back to the economy that we had before the pandemic,” Powell said at a Fed virtual town hall for educators and students. Powell said that, while it is not yet clear if the delta variant of COVID will have further impact on the economy, the country has already seen significant changes since the pandemic began shutting the country down in March 2020.

Economy expected to grow by 7.25% in 2021 as lockdown restrictions are eased, says Bank of England.

The economy rose 6.4% in the first quarter.

The economy rose 6.4% in the first quarter.

The U.S. recovery likely found its rhythm in the first three months of 2021, according to early forecasts of data to be released by the Bureau of Economic Analysis this morning. It appears likely all Covid-19-era losses will be recovered by the middle of this year.

CNBC's Jim Cramer on Monday advised that retail investors ignore talk of a potential market top with the economy in recovery mode.

Pedestrians walk outside the New York Stock Exchange in the U.S. The U.S. economy is recovering from the Covid-19 recession, but some economic "scarring" may take a long time to heal, said Richmond Federal Reserve Bank President Thomas Barkin. Economic scarring refers to damage left behind by crises that will suppress growth prospects over the medium or long term. "I'm hopeful we're on the brink of completing this recovery," Barkin said Monday at the Credit Suisse Asian Investment Conference that's being held virtually this year. The U.S. economy contracted by 3.5% in 2020 compared to a year ago, estimated the Bureau of Economic Analysis.

Lightfoot’s plan created a six-month payment plan that reduces required down payments and gives those with ticket debt more time to pay. The plan also allowed people to request a 24-hour extension to pay their fines in full or get on a payment plan after their vehicles are locked with a Denver boot, though the plan does not ban use of the controversial device that has been the bane of many motorists’ existence.

Without stimulus, employment might not reach pre-pandemic level until 2024 New analysis from the Congressional Budget Office predicts the U.S. economy will return to its pre-pandemic peak in the middle of 2021, but the number of people employed won't return to previous levels until 2024. Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, joins CBSN's "Red & Blue" host Elaine Quijano to discuss what she thinks the federal government should do to aid the economy.

Militias take aim at gun laws: "It's about shooting tyrants in the face"

Militias take aim at gun laws: "It's about shooting tyrants in the face"

The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. "It's obviously good news that the economy bounced back in the third quarter," said Eric Winograd, senior economist at AllianceBernstein. "There's still a lot of work to do here and the pace of improvement ... is going to slow. That is part of the reason that the pace of growth is going to slow from here." The economy has been in a technical recession since February, as first-quarter growth declined at a 5% pace.

The International Monetary Fund on Tuesday turned slightly more positive on the global economy for this year, but warned of a "long, uneven and uncertain" recovery. The global economy is now projected to contract by 4.4% in 2020 — an upward revision from an estimate of -4.9% made in June. The IMF's projection assumes that social distancing due to the coronavirus pandemic will continue into 2021, and that local transmission will fall everywhere by the end of 2022. However, it warned that the coronavirus crisis is far from over. The IMF projected "only limited progress" going forward and cut its GDP (gross domestic product) growth expectations for next year to 5.2%, from an estimate of 5.4% made in June.

HOUSTON Job losses and the unemployment rate in the Houston area reached record levels in April due to the coronavirus pandemic, according to data released by Workforce Solutions Friday morning. The economy in the Houston area has taken a significant hit with more than 452,000 Houston-area workers now unemployed, according to the data. Not surprisingly, customer-facing industries were the hardest hit, said Parker Harvey, the regional economist at Workforce Solutions. Michelle Castrow, a manager at Workforce Solutions, said that some companies are still hiring despite the downturn. Were working with our employer partners daily and posting new job openings to wrksolutions.com/jobsnow, she said.

(CNN) Victoria's Secret is permanently closing a quarter of its stores in the United States and Canada over the next few months. There are approximately 1,100 Victoria's Secret locations in North America. Chief Financial Officer Stuart Burgdoerfer said in an earnings call Thursday that it was a "very significant decision" that is intended to "strengthen" Victoria's Secret. L Brands also said it was closing 50 Bath & Body Works stores, mostly in mall locations where it doesn't expect foot traffic to regain pre-pandemic normalcy. Investors are fans of the slimming plans: L Brands shares are up 18% in Thursday trading.

China, the world's second largest economy, is under threat as the pandemic wipes out jobs and slows productivity and growth. But even with the economic setback, that's not stopping Beijing from doubling down on its geopolitical agenda. China could be using diplomatic outreach, while skirting any responsibility for the crisis, as a way to move forward with its geopolitical plans, Economy said. I think the Trump administration will be looking to China to buy American, to fulfill the promises that it made," she said. In the meantime, the People's Republic of China has rolled out significant measures to offset the economic impact of the pandemic.

The economy is the theme on Day 2 of the RNC; Yahoo saw profits plunge 64%; and Nintendo doubled its market cap thanks to "Pokemon Go." These headlines and more from CBS MoneyWatch.

The economy is improving, so why are Americans feeling so down? Steady job-creation this year has failed to quell people's anxiety about their financial prospects and the broader direction of the economy. CBS News' Lauren Lyster reports.

Will the economy change much during the year's second half? The economy contracted nearly three percent during the first quarter of the year. CBS News business analyst Jill Schlesinger explains what to expect in the second half of the year.

U.S. economy shrinks for first time in three years The harsh weather this past winter is getting much of the blame for a slowdown in the economy, but most economists believe it sets the economy up for a strong rebound this quarter. Anthony Mason reports.