facebook linkedin twitter

Economy

Stocks Slip, Yields Soar on Hottest Inflation in 40 Years

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that... Read More

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that the Federal Reserve will have to get more aggressive about removing the tremendous support it’s given the economy. The hottest... Read More

Frontier Airlines Buying Spirit in $3B Low-Cost Carrier Deal

Frontier is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The... Read More

Frontier is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday... Read More

2022-02-04 19:18:16
by Dan McCue
House Passes Sweeping Measure to Boost US Competitiveness With China

WASHINGTON — The House voted 222-210 on Friday to approve legislation to bolster research and development to help the United... Read More

WASHINGTON — The House voted 222-210 on Friday to approve legislation to bolster research and development to help the United States better compete with China, unravel supply chain snafus and give a much-needed boost to the domestic semiconductor industry. Rep.... Read More

US Employers Shrug Off Omicron, Add 467,000 Jobs in January

WASHINGTON (AP) — U.S. employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that... Read More

WASHINGTON (AP) — U.S. employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The Labor Department's... Read More

US Markets Turn Lower After Meta's Mega Earnings Rout

NEW YORK (AP) — U.S. markets pointed lower Thursday with tech stocks weighing down broader indexes after a weak quarterly earnings... Read More

NEW YORK (AP) — U.S. markets pointed lower Thursday with tech stocks weighing down broader indexes after a weak quarterly earnings report from Facebook parent company Meta. The numbers from Meta, released late Wednesday, checked a brief recovery in U.S. markets that... Read More

2022-02-02 20:49:35
by Kate Michael
Travel Association President Claims, ‘This Will Be the Year of Recovery’ 

WASHINGTON — “This will be the year of recovery,” according to U.S. Travel Association President and CEO Roger Dow as... Read More

WASHINGTON — “This will be the year of recovery,” according to U.S. Travel Association President and CEO Roger Dow as he gave an update on the state of the American travel industry at the National Press Club Wednesday morning.  While... Read More

2022-02-02 14:49:19
by Dan McCue
Bipartisan Anti-Poverty Bill Unveiled in House, Senate

WASHINGTON — Sens. Cory Booker, D-N.J., and Rob Portman, D-Ohio, joined by House Majority Whip James Clyburn, D-S.C. and Rep.... Read More

WASHINGTON — Sens. Cory Booker, D-N.J., and Rob Portman, D-Ohio, joined by House Majority Whip James Clyburn, D-S.C. and Rep. Hal Rogers, R-Ky., are urging their colleagues to support a sweeping new anti-poverty bill intended, in their words, “to create... Read More

Stocks Rise, Still on Pace for Worst Month Since March 2020

Stocks are rising Monday, trimming some of their worst monthly loss since the early days of the pandemic, as Wall... Read More

Stocks are rising Monday, trimming some of their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The... Read More

A Key Inflation Gauge Rose 5.8% in 2021, Most in 39 Years

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the... Read More

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture,... Read More

US Economy Grew 5.7% in 2021 in Rebound From 2020 Recession

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with... Read More

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and... Read More

2022-01-27 14:44:00
by Dan McCue
Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in... Read More

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in rates could come soon if inflation continues to run above its preferred target and the job market remains strong. The... Read More

As Fed Meets, Investor Angst Over Rate Hikes Spooks Markets

WASHINGTON (AP) — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting... Read More

WASHINGTON (AP) — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve's meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy.... Read More

2022-01-26 00:22:00
by Dan McCue
Majority of Cities Felt Financial Wallop Within Weeks of COVID’s Arrival

CHICAGO — Despite an almost immediate infusion of emergency federal funding, the majority of America’s largest cities saw a sharp... Read More

CHICAGO — Despite an almost immediate infusion of emergency federal funding, the majority of America’s largest cities saw a sharp and lasting decline in their fiscal well-being when the coronavirus reared its ugly head, a new report says. Published by... Read More

2022-01-21 19:25:10
by Dan McCue
Global Leaders Facing Complex, Often Divergent Economic Challenges in 2022

GENEVA, Switzerland – Policy makers the world over will face a complex and often divergent set of economic challenges this... Read More

GENEVA, Switzerland – Policy makers the world over will face a complex and often divergent set of economic challenges this year as COVID wanes and other challenges, ranging from inflation to record fiscal debt levels, retake center stage, said participants... Read More

Biden Chooses Three for Fed Board, Including First Black Woman

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom... Read More

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

Goodbye 'Godsend': Expiration of Child Tax Credits Hits Home

CHARLESTON, W.Va. (AP) — For the first time in half a year, families on Friday are going without a monthly... Read More

CHARLESTON, W.Va. (AP) — For the first time in half a year, families on Friday are going without a monthly deposit from the child tax credit — a program that was intended to be part of President Joe Biden's legacy but has... Read More

U.S. Jobless Claims Rise by 23,000 to 230,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since mid-November,... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since mid-November, but still low by historic standards. U.S. jobless claims climbed by 23,000 last week to 230,000. The four-week moving average,... Read More

US Inflation Soared 7% in Past Year, the Most Since 1982

WASHINGTON (AP) — Inflation jumped in December at its fastest year-over-year pace in nearly four decades, surging 7% and raising... Read More

WASHINGTON (AP) — Inflation jumped in December at its fastest year-over-year pace in nearly four decades, surging 7% and raising costs for consumers, offsetting recent wage gains and heightening pressure on President Joe Biden and the Federal Reserve to address... Read More

World Economic Forum Warns Cyber Risks Add to Climate Threat

LONDON (AP) — Cybersecurity and space are emerging risks to the global economy, adding to existing challenges posed by climate change and... Read More

LONDON (AP) — Cybersecurity and space are emerging risks to the global economy, adding to existing challenges posed by climate change and the coronavirus pandemic, the World Economic Forum said in a report Tuesday. The Global Risks Report is usually released ahead of the annual... Read More

US Employers Add 199,000 Jobs as Unemployment Falls to 3.9%

WASHINGTON (AP) — U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a... Read More

WASHINGTON (AP) — U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a time when businesses are struggling to fill jobs with many Americans remaining reluctant to return to the workforce. The Labor... Read More

2021-12-27 16:46:05
by Dan McCue
US Retail Sales, Excluding Autos, Grew 8.5% This Holiday Season

PURCHASE, N.Y. — Holiday retail sales, excluding automotive, increased 8.5% year-over-year this holiday season, according to Mastercard SpendingPulse. Mastercard SpendingPulse... Read More

PURCHASE, N.Y. — Holiday retail sales, excluding automotive, increased 8.5% year-over-year this holiday season, according to Mastercard SpendingPulse. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment. It defines the “holiday season” as the period running... Read More

2021-12-22 17:02:05
by Dan McCue
Think Tank Finds Consumer Confidence Improved Again in December

NEW YORK — Despite concerns over well-publicized supply chain bottlenecks and a surging omicron variant of the coronavirus, consumer confidence... Read More

NEW YORK — Despite concerns over well-publicized supply chain bottlenecks and a surging omicron variant of the coronavirus, consumer confidence grew in December, The Conference Board reported Wednesday. The not-for-profit, non-advocacy think tank said its proprietary Consumer Confidence Index now... Read More

'We have stock': Smaller Stores Aim for Last-Minute Shoppers

NEW YORK (AP) — After a wearying nearly two years of the pandemic, independent retailers are cautiously hoping their holiday... Read More

NEW YORK (AP) — After a wearying nearly two years of the pandemic, independent retailers are cautiously hoping their holiday seasons will be bright, despite the challenges this year ranging from supply chain snags to shortages of hot holiday items.... Read More

2021-12-21 22:16:39
by Dan McCue
Independently Owned Restaurants Press for Relief Funding

WASHINGTON — As states across the country prepare for a continued surge in cases of the omicron variant, a coalition... Read More

WASHINGTON — As states across the country prepare for a continued surge in cases of the omicron variant, a coalition of independent restaurant owners is urging Congress to replenish an emergency relief fund for their industry. According to the Independent... Read More

2021-12-20 18:52:01
by Dan McCue
Goldman Sachs Axes US Growth Forecast After Manchin Nixes BBB

NEW YORK — Goldman Sachs downgraded its growth forecast for the U.S. economy in the wake of Sen. Joe Manchin’s... Read More

NEW YORK — Goldman Sachs downgraded its growth forecast for the U.S. economy in the wake of Sen. Joe Manchin’s announcement during a televised interview that he will not support President Joe Biden’s Build Back Better plan. In a note... Read More

2021-12-20 16:23:55
by Dan McCue
World Economic Forum Scraps Davos Meeting Over Omicron Concerns

DAVOS, Switzerland — For the second year in a row, the coronavirus is wreaking havoc on the World Economic Forum’s... Read More

DAVOS, Switzerland — For the second year in a row, the coronavirus is wreaking havoc on the World Economic Forum’s annual meeting in Davos. The organization, which has been hosting the high-profile networking event for business executives, world leaders and... Read More

2021-12-16 22:06:24
by Tom Ramstack
Biden’s Truck Driver Outreach Aimed at Easing Supply Chain

WASHINGTON — The Biden administration on Thursday announced a plan to increase the number of commercial truck drivers in a... Read More

WASHINGTON — The Biden administration on Thursday announced a plan to increase the number of commercial truck drivers in a bid to alleviate supply chain gridlock. The plan includes assistance to state motor vehicle departments to issue more commercial licenses,... Read More

US Jobless Claims Rise but Still Historically Low at 206,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week despite signs that the U.S. labor... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week despite signs that the U.S. labor market is rebounding from last year's coronavirus recession. Jobless claims rose by 18,000 to a 206,000, still low by historical... Read More

2021-12-16 13:09:00
by Reece Nations
Blue Dog Coalition Shares Supply Chain Hurdles, Solutions During Roundtable

SAN ANTONIO — Members of the Blue Dog Coalition hosted a virtual roundtable discussion on Wednesday over impediments to the... Read More

SAN ANTONIO — Members of the Blue Dog Coalition hosted a virtual roundtable discussion on Wednesday over impediments to the national supply chain as well as what’s being done to solve them. The discussion featured input from Gene Seroka, executive... Read More

2021-12-15 22:37:47
by Dan McCue
Tighter Credit, More Expensive Borrowing Could Be In The Offing With Fed Shift

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from... Read More

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from propping up the economy and likely will raise interest rates at least three times in 2022. As recently as September,... Read More

1 2 3 4 5 ... 24
Straight From The Well
scroll top