Chair seeks watchdog review of Fed building

Federal Reserve Chair Jerome Powell is asking an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.”

The Fed has been renovating two of its office buildings in Washington for several years at a current cost estimate of about $2.5 billion, $700 million more than originally expected.

Tesla’s Autopilot system in spotlight at Miami trial

A federal court in Miami began considering Monday whether Elon Musk’s car company should share blame for the death of a stargazing university student after a runaway Tesla sent her flying 75 feet through the air and severely injured her boyfriend.

Tesla blames the driver who reached for a dropped cell phone before the crash. Plaintiff lawyers say the company’s Autopilot technology failed and also is to blame.

Bitcoin soars to new all-time high

Bitcoin has hit a new all-time high, surpassing $123,000 on Monday. This marks a sharp rise from $108,000 just a week ago.

The cryptocurrency now ranks as the fifth most valuable asset class globally, with a market cap of $2.4 trillion. The surge comes as U.S. lawmakers focus on passing pro-crypto legislation during what’s being called “crypto week” in Congress.

Wall Street holds near record amid tariff doubts

U.S. stock indexes held near their records following President Donald Trump’s latest updates to his tariffs, as speculation continues that he may ultimately back down on them.

The S&P 500 edged up by 0.1% Monday. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 0.3%. Stock indexes fell in Europe but were mixed elsewhere after Trump announced 30% tariffs on goods from Mexico and the European Union.

Senate vote will test popularity of DOGE cuts

Senate Republicans are putting the popularity of Department of Government Efficiency spending cuts to the test this week. The GOP lawmakers are looking to pass President Donald Trump’s request to claw back $9.4 billion in spending on public media and foreign aid.

Senate Democrats are looking to kill the measure.

China’s exports jump 5.8% in June

China has reported its exports accelerated in June as a reprieve on U.S. tariffs prompted a rush of orders by companies and consumers.

Exports climbed 5.8% from a year earlier, up from a 4.8% increase in May. Imports also recovered, growing 1.1% for the first increase so far this year.

Fossil-fuel motorcycles to be banned in Hanoi

Vietnam will ban fossil-fuel motorcycles in the heart of Hanoi starting July 2026, aiming to cut air pollution and move toward cleaner transport.

The ban will cover areas in the city center and expand in later phases. Motorcycles are still the main way people get around and the plan has raised concerns among drivers and low-income workers about the impact on daily life.

Starbucks takes aim at remote work

Starbucks is requiring some remote workers to relocate to its headquarters and increasing the number of days that corporate employees are required to work in an office.

In a letter to employees posted on Monday, Starbucks Chairman and CEO Brian Niccol said corporate employees will need to be in the office four days a week starting in early October.