About 6.9 million Californians on Social Security and 1.1 million SSI recipients will see benefits rise 3.6% in 2027.

Social Security benefits will increase by 3.6 percent in 2027, a jump from the 2.8 percent cost-of-living adjustment provided this year, the Social Security Administration announced Wednesday. Monthly benefits for nearly 72 million recipients are set to increase by an average of $75 for all retirees beginning in January,

The increase is aimed at helping about 68 million beneficiaries keep pace with inflation.

More than 70 million Social Security recipients will get a 3.6% benefit increase in 2027. The cost-of-living adjustment is up from 2.8% in 2026.

Germany will press the European Union to quickly place quotas on additional sectors of goods being imported from China, replicating a cap the bloc is planning to impose on hybrid vehicles.

The bloc recently reached “an understanding” that would restrain China’s hybrid car exports to Europe, expanding existing EV tariffs to slow the growth of plug-in hybrids by Chinese manufacturers. The European car industry has welcomed the deal as “a first step” to create a fairer playing field.

The EU will restrict imports from the country to 350,000 units a year, with the aim of more-than halving China’s projected shipments to the bloc.

China's passenger car exports surged 64% in September from the same month in 2025, an industry association reported Monday, as Chinese automakers increasingly focus on exports to drive growth amid sluggish domestic sales.

JPMorgan, Goldman, Wells Fargo and Citigroup reported third-quarter results, kicking off a mixed Wall Street earnings season.

Follow live bank earnings coverage for JPMorgan, Wells Fargo, Goldman Sachs and Citigroup, with third-quarter results, calls and stock moves.

The results came after a turbulent quarter marked by the conflict in Iran, elevated oil prices and a global bond-market selloff, which affected dealmaking and trading activity across financial markets

JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup are all slated to report earnings for the third quarter, in that order, before Tuesday's opening bell. Investors will be looking closely for si