A key inflation gauge sets 40-year high as gas and food soar
WASHINGTON (AP) — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply…
AP Wire
Biden oil move aims to cut gas prices ‘fairly significantly’
WASHINGTON (AP) — President Joe Biden on Thursday ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve…
OPEC sticks to modest boost in oil despite war jitters
LONDON — OPEC and allied oil producers including Russia have decided to stick to a modest increase in the amount of crude it pumps to…
Tests and vaccines push Walgreens past expectations in 2Q
A surge in demand for COVID-19 tests and vaccines helped Walgreens deliver a better second quarter than Wall Street expected. Sales jumped as customers spent…
Fed’s rate hikes threaten its goal of narrowing racial gaps
WASHINGTON — America’s hiring boom of the past year has narrowed racial disparities in unemployment. Yet the Federal Reserve’s ongoing interest rate hikes — shaping…
China manufacturing weakens as anti-virus controls tighten
BEIJING — China’s manufacturing activity fell to a five-month low in March after most of Shanghai and two other industrial centers were shut down to…
Pence unveils Republican policy agenda for midterm elections
NEW YORK — Former Vice President Mike Pence has unveiled a new policy platform for Republicans ahead of this year’s midterms elections, offering a framework…
Even as inflation bites, corporate profits remain flush
NEW YORK — What’s immune to high inflation? So far, the profits at big U.S. companies. Businesses are facing higher gasoline and heating bills, just…
European Central Bank chief: No data suggests stagflation
NICOSIA, Cyprus — No data suggests Europe will fall into stagflation, a combination of high inflation, little or no economic growth and high unemployment, the…
US growth in Q4 revised slightly lower to 6.9%
WASHINGTON — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported today, a slight…