Pound stabilizes but turmoil continues for UK economy
LONDON — The British pound stabilized in Asian trading today after plunging to a record low a day earlier, as the Bank of England and…
AP Wire
Boston Fed’s Collins says ‘higher unemployment’ needed
WASHINGTON — Susan Collins, the new president of the Federal Reserve Bank of Boston, said today that a higher unemployment rate will be needed to…
Amazon to hold holiday shopping event in October
Amazon said today that next month it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals…
Development group: War in Ukraine to drag on global economy into 2023
PARIS — Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving…
British pound plunges to new low as tax cuts spark concern
LONDON — The British pound fell to all-time low against the U.S. dollar early today after Treasury chief Kwasi Kwarteng pledged a sweeping package of…
Apple Inc will manufacture iPhone 14 in India
NEW DELHI — Apple Inc. will make its iPhone 14 in India, the company said today, as manufacturers shift production from China amid geopolitical tensions…
Recession clouds gather in Germany, Europe’s largest economy
FRANKFURT, Germany — Europe’s largest economy is sending recession signals. Germany’s key future indicator, the IFO survey of business confidence, pointed down for the fourth…
GM spending $760 million to convert Toledo factory to make EV parts
TOLEDO, Ohio — General Motors says it will spend $760 million to renovate its transmission factory in Toledo, so it can build drive lines for…
US Sen. Warnock: Electric car tax credit needs ‘flexibility’
SAVANNAH, Ga. — U.S. Sen. Raphael Warnock urged the U.S. Treasury secretary today to use “maximum flexibility” in implementing a revised tax credit for Americans…
Activist investor pushes for removal of Kohl’s chairman, CEO
NEW YORK — Activist investor Ancora Holdings Group is pushing for the removal of both the chairman and the chief executive officer at Kohl’s for…