WASHINGTON (AP) — The U.S. and China have reached a tentative agreement to allow U.S. regulators to inspect the audits of Chinese companies whose stocks are traded on U.S. exchanges. In a long-festering dispute, U.S. regulators have threatened to boot a number of Chinese companies off the New York Stock Exchange and Nasdaq if China…
JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark warning Friday about the Fed’s determination to fight inflation with more sharp interest rate hikes: It will likely cause pain for Americans in the form of a weaker economy and job losses. The message landed with a thud on Wall Street, sending…
BERLIN (AP) — The German government is considering backtracking on plans for consumers to pay a surcharge on natural gas amid mounting criticism that the money could flow to highly profitable energy companies, officials said Friday. The surcharge of 2.4 euro cents per kilowatt hour was announced two weeks ago and could cost the average…
COVID-19 vaccine maker Moderna is suing Pfizer and the German drugmaker BioNTech, accusing its main competitors of copying Moderna’s technology in order to make their own vaccine. Moderna said Friday that Pfizer and BioNTech’s vaccine Comirnaty infringes on patents Moderna filed several years ago protecting the technology behind its preventive shot, Spikevax. The company filed…
As a child, Wendy Schmidt didn’t think about how the ocean intersected with human life. It was a nice place to go swimming, but it was mostly a murky, unknowable realm that didn’t have much to do with her day-to-day life. That outlook changed 15 years ago when she started sailing and learned to scuba…
Elon Musk’s SpaceX and T-Mobile are teaming up in an attempt to connect mobile devices through a network of satellites, providing coverage to even the most isolated places. Under the plan, T-Mobile’s wireless network would be routed through SpaceX Starlink satellites that are in low Earth orbit. T-Mobile said that the vast majority of smartphones…
WASHINGTON (AP) — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked. According to a Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3% in July from a year earlier after posting an annual…
COPENHAGEN, Denmark (AP) — Germany’s foreign minister said Friday that estimates show the Baltic Sea can produce wind power that is “more than twice the installed capacity of all German coal-fired power stations” as the country works to meet climate change targets and wean itself off of Russian energy. In a video message ahead of…
JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades. Powell also warned more explicitly than he has in the past that the Fed’s continued…
NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation. The S&P 500 lost 3.4%, its biggest drop since mid-June, after Jerome Powell…
