Jul 28 House approves bill to boost computer chip industry By Kevin Freking, Associated Press The House has passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with international rivals, namely China. Continue reading
Jul 28 Labor market still considered strong after weeks of mixed jobless benefit numbers By Matt Ott, Associated Press Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first time in more than eight months. Continue reading
Jul 28 Average U.S. long-term mortgage rates fall slightly to 5.3 percent By Matt Ott, Associated Press Average long-term U.S. mortgage rates retreated this week just as the Federal Reserve announced another big rate hike in its bid to get four-decade high inflation under control. Continue reading
Jul 28 JetBlue strikes $3.8 billion deal to buy Spirit Airlines By David Koenig, Michelle Chapman, Associated Press JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction. Continue reading
Jul 28 Your guide to Congress’s new inflation-fighting package By Lisa Mascaro, Associated Press What started as a $4 trillion effort during President Joe Biden's first months in office to rebuild America's public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package. Continue reading
Jul 28 WATCH: President Biden calls inflation-fighting agreement a ‘godsend’ for U.S. families By Lisa Mascaro, Alan Fram, Associated Press Schumer rallied Democrats during a closed-door morning meeting and Manchin called the package a “win-win” at his own press briefing. An expansive agreement had eluded them for months. Continue reading
Jul 28 U.S. economy shrinks for 2nd straight quarter By Paul Wiseman, Associated Press The United States economy contracted at a 0.9% annual pace last quarter, raising fears that the nation may be approaching a recession. Continue reading
Jul 27 African nations open climate talks ahead of major U.N. meeting By Wanjohi Kabukuru, Associated Press African nations opened climate talks in the Mozambican capital Maputo on Wednesday to identify their priorities and come up with a common position ahead of the United Nations climate summit in Egypt in November, known as COP27. Continue reading
Jul 27 Watch 6:48 Federal Reserve raises interest rates amid stubbornly high prices and recession concerns By Paul Solman, Tommy Walters, Ryan Connelly Holmes The Federal Reserve raised interest rates significantly again Wednesday in a bid to put the brakes on inflation. The economy is no longer running nearly as hot as it did last year, but Fed Chair Jerome Powell said it was… Continue watching
Jul 27 FTC aims to block Meta from buying VR company, fitness app By Marcy Gordon, Associated Press Federal regulators have taken legal action to block Facebook parent Meta and its CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural. Continue reading