WASHINGTON (AP) — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine. The figure reported Friday by the Commerce Department was the largest year-over-year rise…
BRUSSELS (AP) — After the political outrage against Russia comes the economic reckoning. Finance ministers of the 19 countries that use the euro gathered Friday in Paris to weigh the economic fallout of Russia’s invasion of Ukraine and the resulting European Union sanctions. The EU, and allies like the U.S., are trying to starve Russia…
BRUSSELS (AP) — The United States and European allies said Friday they were stepping up sanctions over Russia’s invasion of Ukraine by adding measures directly targeting President Vladimir Putin and his foreign minister, putting diplomatic appeals to one side as Russia’s forces closed on Ukraine’s capital. The move by the U.S., the European Union and…
NEW YORK (AP) — Wall Street capped a turbulent week of trading Friday with a broad rally for stocks as relief flowed through the market, even as deadly attacks raged in Ukraine. Oil fell and investors turned away from gold and other traditional havens they favor when fear is high. The S&P 500 climbed 2.2%…
U.S. shoppers are giving plant-based burgers a pass. Plant-based meat company Beyond Meat said Thursday that its sales dropped in the fourth quarter due to weak U.S. retail demand. It was the third quarter in a row that the company’s U.S. retail sales saw double-digit declines. El Segundo, California-based Beyond Meat said its net revenue…
WASHINGTON (AP) — Federal Reserve Governor Christopher Waller said Thursday he is willing to support a half-point interest rate hike at the central bank’s next meeting in March if upcoming data suggests inflation is worsening. Waller’s comments, in a speech at the University of California, Santa Barbara, underscore the range of opinion among Fed officials…
CHEYENNE, Wyo. (AP) — Four Rocky Mountain states will cooperate on developing ways to make the most abundant element in the universe, hydrogen, more available and useful as clean-burning fuel for cars, trucks and trains, the states’ governors announced Thursday. Colorado, New Mexico, Utah and Wyoming will plan a “hydrogen hub” to be built somewhere…
DETROIT (AP) — A federal judge is refusing to get involved in a letter-writing spat between one of Tesla CEO Elon Musk’s lawyers and U.S. securities regulators, at least for now. In an order issued Thursday, District Judge Alison Nathan in Manhattan denied two requests from Musk attorney Alex Spiro and told him he could…
Federal regulators are suing to block UnitedHealth Group’s purchase of technology company Change Healthcare, a deal they fear will put too much health care claims information in the hands of one company. The U.S. Department of Justice said Thursday that the proposed deal would hurt competition and give UnitedHealth Group — which runs the nation’s…
WASHINGTON (AP) — Average long-term U.S. mortgage rates fell slightly this week, after rising to their highest level in three years last week. The average rate on a 30-year loan declined to 3.89% this week from 3.92% the previous week, mortgage buyer Freddie Mac reported Thursday. A year ago, the long-term rate was 2.97%. The…
