Fed attacks inflation with its largest rate hike since 1994
WASHINGTON — The Federal Reserve today intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point —…
AP Wire
US report: nearly 400 crashes of automated tech vehicles
DETROIT (AP) — Automakers reported nearly 400 crashes over a 10-month period involving vehicles with partially automated driver-assist systems, including 273 with Teslas, according to…
European Central Bank vows backstop against market turmoil
The European Central Bank vowed today to create an unspecified market backstop that could be used to buffer some countries against bond market turmoil similar…
Retail sales in May fall 0.3% amid surging inflation
NEW YORK — Americans cut their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is…
Biden tells oil refiners: Produce more gas, fewer profits
President Joe Biden on Wednesday called on U.S. oil refiners to produce more gasoline and diesel, saying their profits have tripled during a time of…
Apple, MLS announce 10-year streaming partnership
Apple’s foray into live sports took a big step forward Tuesday. Apple and Major League Soccer have announced a 10-year partnership on a streaming service…
Spirit Air engages with JetBlue ahead of shareholder vote
NEW YORK — Spirit Airlines, the target of a budget airline bidding war, said today that it been in talks with JetBlue about last week’s…
Congress examines fraud in pandemic aid for small businesses
A congressional panel today will examine payouts under a federal coronavirus pandemic aid program intended to help small businesses weather the COVID-19 outbreak amid revelations…
May US producer prices soared 10.8 % as energy prices jumped
WASHINGTON — U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from inflation that shows no…
The S&P 500 is in a bear market; here’s what that means
NEW YORK — Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors. The…