NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation. Several disappointing profit reports from companies also shook what’s been the market’s main pillar…
LONDON (AP) — Queen Elizabeth II has got her own Barbie in honor of her 96th birthday and upcoming Platinum Jubilee. California-based toymaker Mattel released the doll on the monarch’s birthday Thursday in commemoration of her 70 years of service, which will be celebrated beginning on June 2. The doll is dressed in ivory complete…
WASHINGTON (AP) — The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May. In a panel discussion held by the International Monetary…
ST. PETERSBURG, Fla. (AP) — Florida utilities would gradually increase their electricity to 100% renewable by 2050 under a proposed rule unveiled Thursday by the state’s agriculture commissioner. The proposed rule is an outgrowth of a lengthy court battle involving dozens of young people who claim Florida is violating their constitutional rights by continuing to…
DALLAS (AP) — Airlines have banned several thousand passengers since the pandemic started for refusing to wear masks. Now they want most of those passengers back. American, United and Delta have all indicated that they will lift the bans they imposed now that masks are optional on flights. “We have talked to them individually,” United…
WASHINGTON (AP) — Charles Evans will retire early next year after 15 years as president of the Federal Reserve Bank of Chicago, a tenure that made him the longest-serving current regional Fed president, the bank announced Thursday. Among Fed officials, Evans has been a vocal supporter of lower interest rates. His departure comes as the…
NEW YORK (AP) — CNN is shutting down its CNN+ streaming service less than a month after its launch, a spectacular flameout for a venture that had attracted stars like Chris Wallace and Alison Roman and was seen as a way to attract a new generation of news consumers. It had started March 29, shortly…
DALLAS (AP) — U.S. airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic. American Airlines is the latest carrier to give a rosy outlook for the rest of 2022. American said…
Amazon is extending the benefits of a Prime subscription to online stores beyond its own site, a move geared toward boosting revenue from merchant fees and expanding its logistics footprint. The company said Thursday the new service it calls “Buy with Prime,” will initially be available by invitation for merchants who ship their products using…
WASHINGTON (AP) — Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade. The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday. The last time it was higher was in April of 2010 when…
