Dec 13 After recalls and infections, experts say safer eyedrops will require new FDA powers By Matthew Perrone, Associated Press Unlike prescription drugs, eyedrops and other over-the-counter products don't get preliminary review by the Food and Drug Administration. Continue reading
Dec 13 Dow hits a record after the Fed signals rate cuts in 2024 By Stan Choe, Associated Press A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year. Continue reading
Dec 13 Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year By Christopher Rugaber, Associated Press Those envisioned rate cuts — which wouldn't likely begin until the second half of 2024 — suggest that the officials think high borrowing rates will still be needed for much of next year to further slow spending and inflation. Continue reading
Dec 13 WATCH: Federal Reserve Chair Jerome Powell holds news briefing following interest rate meeting By Christopher Rugaber, Associated Press The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year. Continue reading
Dec 12 Epic wins its antitrust lawsuit against the Play Store. What does this verdict mean for Google? By Associated Press Google lost an antitrust lawsuit over barriers to its Android app store, as a federal court jury has decided that the company's payments system was anticompetitive and damaged smartphone consumers and software developers. Continue reading
Dec 12 Federal judge upholds Texas’ TikTok ban on state-owned devices By Associated Press The decision came months after The Knight First Amendment Institute at Columbia University challenged the ban, arguing it violated the First Amendment. Continue reading
Dec 12 November inflation dips as gas prices fall, but services and used cars remain expensive By Christopher Rugaber, Associated Press The mixed picture in Tuesday’s inflation report will likely keep the Fed on track to leave its benchmark interest rate unchanged when its latest meeting ends Wednesday. Continue reading
Dec 11 Biden administration says New Hampshire computer chip plant the first to get CHIPS funding By Josh Boak, Associated Press The 2022 CHIPS and Science Act provides more than $52 billion to boost the development and manufacturing of semiconductors in the United States. Continue reading
Dec 11 Speculation about eventual rate cuts is rising, but Fed is set to leave interest rates unchanged By Christopher Rugaber, Associated Press With inflation edging closer to the Federal Reserve's 2 percent target, its policymakers are facing — and in some cases fueling — hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as… Continue reading
Dec 10 Argentina’s newly sworn-in President Milei warns of shock adjustment to economy By David Biller, Debora Rey, Associated Press In his inaugural address Sunday, Argentina's newly empowered President Javier Milei presented figures to lay bare the scope of the nation's economic “emergency,” and sought to prepare the public for a shock adjustment with drastic public spending cuts. Continue reading