Economy

The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020.

For decades, global commerce abided by tariff rates agreed to by the U.S. and 122 other countries during the 1980s and 1990s. On Wednesday, Trump detonated that arrangement.

The new tariffs, coming on what Trump has named “Liberation Day,” are a bid to boost U.S. manufacturing and punish other countries for what he says are unfair trade practices.

A slew of tariffs from the Trump administration take effect Wednesday. Many economists warn these tariffs will drag down the economy, while Trump argues they’ll help the US.

The School District of Philadelphia will spend 40% of its reserves in order to avoid budget cuts for one more year. After that, there are no guarantees.

The governor wants to raise new revenue by changing the personal income tax brackets and increasing fees on cigarettes, state parks and roads.

Organizers say that residents can’t budget their way out of poverty and would benefit from a cash influx and an economic mobility counselor.

Tax relief on the first $100,000 of revenue for businesses in Philadelphia could either be eliminated or doubled in the next city budget.

The Community Development Financial Institutions Fund was created to fill in the credit gap for low income entrepreneurs but without federal support the system could collapse.

Beloved Philly breakfast spots have recently raised prices and aren’t expecting relief anytime soon, even with reports of egg prices coming down.

Supporters of the legislation say changes are needed to ensure companies have clarity and predictability in Delaware’s corporate franchise.

The mayor’s latest budget proposal calls on the city to borrow $800 million to create and preserve more affordable and market-rate units across the city.

The economic impact of a smaller federal government in the region has meant fewer workers, canceled office leases, buildings for sale and some contracts terminated.

With three retail and wholesale locations in Philadelphia and Haddonfield, New Jersey, Fishtown Seafood's products include oysters — and 60% to 70% come from Canada.

It was a week that saw not only more twists in the tariffs saga but also Trump's big Hill address, the suspension of aid to Ukraine, more firings at agencies, and more.