Apr 12 Watch 8:27 Why corporations are reaping record profits with inflation on the rise By Paul Solman, Lee Koromvokis Despite rising inflation, major U.S. corporations are reporting record profits, as companies pass rising supply-chain costs onto consumers. Economics correspondent Paul Solman explores whether concentrated market power is contributing to inflation. Continue watching
Apr 12 WATCH: How student loan debt disproportionately hurts Black borrowers By Casey Kuhn, Nicole Ellis, Hannah Grabenstein Americans, in total, owe nearly $1.75 billion in student loan debt, with more than 44 million people owing, according to a 2020 NAACP report. Continue reading
Apr 12 Annual report shows systemic racism continues to bring down Black people’s quality of life By Michael Warren, Associated Press Urban League President Marc Morial says the index shows how hard it is to overcome systemic racism that's made life harder in many ways for people of color. Continue reading
Apr 12 U.S. inflation rises 8.5 percent, sharpest increase since 1981 By Paul Wiseman, Associated Press Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received. Continue reading
Apr 11 Watch 5:40 U.S. Postal Service gets boost to overhaul its finances and modernize By Geoff Bennett, Ebony Joseph The U.S. Postal Service has secured a major victory that will keep it afloat and address service delays that have plagued the agency in recent years. President Biden on Monday signed a sweeping bill into law that will overhaul the… Continue watching
Apr 11 Student loan debt has a lasting effect on Black borrowers, despite the latest freeze in payments By Hannah Grabenstein, Saher Khan Without permanent relief, many Americans are stuck with thousands of dollars of debt, hindering their abilities to plan for the future and invest in assets that would help grow intergenerational wealth. Continue reading
Apr 11 Kmart was once a retail powerhouse. Now just a handful of stores remain in the U.S. By David Porter, Associated Press When the Kmart in Avenel, New Jersey, closes its doors on April 16, it will leave just a handful of remaining U.S. locations for the former retail powerhouse. Continue reading
Apr 11 Can cancer blood tests live up to promise of saving lives? By Carla K. Johnson, Associated Press It’s an open question whether such cancer blood tests — if added to routine care — could improve Americans’ health or help meet the White House’s goal of cutting the cancer death rate in half over the next 25 years. Continue reading
Apr 11 Elon Musk reverses course, won’t join Twitter’s board By Associated Press Billionaire Musk has been one of Twitter’s loudest critics and is now its largest investor. Continue reading
Apr 08 Watch 8:48 Conventional economists sound alarm over cryptocurrency’s volatility By Paul Solman, Lee Koromvokis There are now thousands of cryptocurrencies, and every day it seems a new non-fungible token, or NFT, is marketed. But is “digital mania” just another historic bubble bound to burst? Our economics correspondent Paul Solman explores the digital asset boom. Continue watching