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
Jul 27 Watch 6:46 News Wrap: Manchin, Schumer reach deal to address health care, climate change, the deficit In our news wrap Wednesday, West Virginia Sen. Joe Manchin announced an agreement with Senate Majority Leader Chuck Schumer on legislation for health care costs, climate change, deficit reduction and more. Also, President Biden left isolation after testing negative for… Continue watching
Jul 27 How the latest Federal Reserve rate hike affects your finances By Christopher Rugaber, Associated Press The Fed's latest hike, its fourth since March, will further magnify borrowing costs for homes, cars and credit cards, though many borrowers may not feel the impact immediately. Continue reading
Jul 27 Federal Reserve unleashes another big rate hike in bid to curb inflation By Christopher Rugaber, Associated Press By raising borrowing rates, the Fed makes it costlier to take out a mortgage or an auto or business loan. Consumers and businesses then presumably borrow and spend less, cooling the economy and slowing inflation. Continue reading