Average long-term mortgage rate jumps above 7% this week
WASHINGTON — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the…
AP Wire
Drugmaker Merck tops 3Q forecasts as Keytruda sales jump 20%
Merck turned in a better-than-expected third quarter and raised its 2022 forecast as the drugmaker’s top seller brought in over a third of its revenue….
Altria inks new deal on heated cigarettes as sales slide
WASHINGTON — Marlboro-maker Altria has a new partner in its effort to bring a heat-not-burn cigarette to the U.S. market, one week after exiting a…
European Central Bank makes another large interest rate hike
FRANKFURT, Germany — The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates today at the fastest…
McDonald’s third quarter sales boosted by higher prices
McDonald’s reported strong sales in the third quarter as it raised prices and used offers on its app to draw in customers Global same-store sales,…
Caterpillar: Q3 earnings snapshot
DEERFIELD, Ill. — Caterpillar Inc. today reported third-quarter net income of $2.04 billion. On a per-share basis, the Deerfield, Ill.-based company said it had profit…
US economy returned to growth last quarter, expanding 2.6%
WASHINGTON — The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly…
USDA announces $759 million for high-speed internet in rural areas
WASHINGTON — The U.S. Department of Agriculture is making available $759 million in grants and loans to enable rural communities to access high-speed internet, part…
Bed Bath & Beyond names interim CEO Gove to permanent post
Bed Bath & Beyond has named Sue Gove as its CEO, after having served in the role on an interim basis since June. “During her…
UK Treasury chief delays detailing new economic plans
LONDON — U.K. Treasury chief Jeremy Hunt today delayed his much-anticipated economic statement until Nov. 17, giving new Prime Minister Rishi Sunak a chance to…