Economy

Labor Day gas prices are highest ever for holiday

The national average price for regular gasoline set a record high for fuel costs on Labor Day, hitting $4.15 per gallon.

A Fed rate hike is coming into view. Here’s what UBS says to own

A strong August jobs report boosted Fed rate-hike odds, bringing a range of trading opportunities across assets, says UBS.

Jaguar Land Rover confirms plan to cut 4,000 jobs over two years

Carmaker, which is battling Trump tariffs and fallout from cyber-attack, also wants to reduce 34,000-strong UK workforce

US labor unions saw membership gains in 2025, mostly in states with bargaining protections

Uptick in US union membership coincides with high public approval ratings of unions

The bond market had a whirlwind week. Where these traders see buying opportunities

Some investors and strategists see the recent rise in yields on medium and long-term bonds as buying opportunities.

High rates spell an end to putting programs on Uncle Sam's tab

Just a few years ago, Washington felt more comfortable pushing for massive spending programs financed by the government and fueled by cheap borrowing costs. But that era is now over.

What's open and closed on Labor Day 2026? See which businesses are operating.

Updated on: September 7, 2026 / 9:03 AM EDT / CBS News

Gas prices at record high for any Labor Day, as diesel hits all-time record

Updated on: September 7, 2026 / 2:32 PM EDT / CBS/AP

Jaguar Land Rover to cut 4,000 jobs over two years in major cost-saving drive

The luxury carmaker is targeting £1.7 billion ($2.3 billion) in savings as it faces Chinese competition, a cyberattack and U.S. tariffs.

Japan's foreign reserves drop by a record $80 billion in August following yen intervention

Finance ministry data showed that Japan's official foreign reserves stand at $1.207 trillion, down from July's figure of $1.287 trillion.

AI data centers are transforming rural land markets

The data center buildout is driving up the price of rural land as some farmers and property owners buy in and others push back against development.

China pulls in Big Tobacco to help with smaller-than-expected finance-industry capital injections

With a bigger capital cushion, financial institutions may also be asked to do more to mobilize resources in capital markets, analysts say.