WASHINGTON (AP) — The U.S. economy shrank at a 0.6% annual rate from April through June, the government said Thursday in an upgrade from its initial estimate. It marked a second straight quarter of economic contraction, which meets one informal sign of a recession. Most economists, though, have said they doubt the economy is in…
NEW YORK (AP) — Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending Aug. 20 fell by 2,000 to 243,000, the Labor Department reported Thursday. The four-week average for claims,…
SEOUL, South Korea (AP) — South Korea has signed a 3 trillion won ($2.25 billion) contract with a Russian state-run nuclear energy company to provide components and construct turbine buildings for Egypt’s first nuclear power plant, officials said Thursday. The South Koreans hailed the deal as a triumph for their nuclear power industry, although it…
JACKSON HOLE, Wyoming (AP) — A half-hour drive or so from the resort where the high priests of international finance — leading economists and central bank officials — have convened in Jackson Hole, Wyoming, to discuss the world’s economic challenges, Ash Hermanowski oversees the distribution of about 1,200 free meals a day. At a food…
LONDON (AP) — A cost-of-living crisis in Britain is about to get worse, with millions of people paying about 80% more a year on their household energy bills starting in October. The U.K. energy regulator on Friday announced the latest price cap, which is the maximum amount that gas suppliers can charge customers per unit…
BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday ahead of a speech by the Federal Reserve chair that investors hoped would shed light on plans for more interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul advanced. Oil prices rose. Investors focused on Chair Jerome Powell’s speech at the Fed’s annual…
NEW YORK (AP) — Amazon is shutting down the hybrid virtual, in-home care service it’s spent years developing, a surprising move that underscores the challenges it faces as it moves into health care. The service, called Amazon Care, will end by Dec. 31, according to an email sent to staff by Neil Lindsay, senior vice…
New York (AP) — President Joe Biden’s student loan forgiveness program announced on Wednesday aims to provide $10,000 in student debt cancellation for millions of Americans. But for federal Pell grant recipients, that amount is even higher: $20,000 So what exactly is a Pell grant? And why is there a special benefit for people who…
SACRAMENTO, Calif. (AP) — Sephora Inc., one of the world’s largest cosmetics retailers, has settled a lawsuit claiming that the company sold customer information without proper notice in violation of the California’s landmark consumer privacy law, state Attorney General Rob Bonta said Wednesday. Sephora failed to tell customers that it was selling their personal information,…
NEW YORK (AP) — Peloton’s high-end exercise bikes and other gear will now be able to be bought on Amazon in the U.S., a partnership aimed at boosting the fitness company’s sales that have languished since the easing of pandemic lockdowns. “We want to meet consumers where they are, and they are shopping on Amazon,”…
