Economy

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WATCH: Why are gas prices so high and how long could they stay this way?

By Nicole Ellis, Casey Kuhn

The average prices of retail gasoline has risen 25 percent in the past two months and nearly 70 percent since President Joe Biden came into office. But what's to blame for skyrocketing gas prices? The COVID pandemic, inflation, the Russian…

Federal Reserve pick Sarah Bloom Raskin withdraws nomination amid opposition

By Zeke Miller, Christopher Rugaber, Associated Press

Republicans argued that Raskin would use the Fed's regulatory authority to discourage banks from lending to oil and gas companies.

Senate unanimously approves bill to make daylight saving time permanent

By Farnoush Amiri, Associated Press

The bipartisan bill approved Tuesday would ensure Americans would no longer have to change their clocks twice a year. But the bill still needs to pass the House and win the signature of President Joe Biden to become law.

MLB players approve contract, salvaging 162-game season

By Ronald Blum, Associated Press

Players have voted to accept Major League Baseball's latest offer for a new labor deal, paving the way to end a 99-day lockout and salvage a 162-game regular season that will begin April 7.

House Democrats abandon COVID spending plans in hopes of clearing path for $1.5 trillion omnibus bill

By Alan Fram, Associated Press

Democratic leaders have abandoned plans for a fresh infusion of $15.6 billion for battling the COVID pandemic.

Biden signs order for government oversight of cryptocurrency

By Fatima Hussein, Associated Press

The executive order had been widely anticipated by the finance industry and others who have compared the cryptocurrency market with the Wild West.

WATCH: Senate hearing on U.S. and global response to Russia's attack on Ukraine

By Associated Press

Undersecretary of State for Political Affairs Victoria Nuland told members of the Senate Foreign Relations Committee that capital is flowing out of Russia, accompanied by a precipitous drop in the value of Russia's currency, the ruble.

Wall Street tumbles after oil prices hit $130 per barrel

By Stan Choe, Associated Press

Stocks are tumbling on Wall Street Monday as another big leap for oil prices threatens to squeeze inflation's grip on the global economy.

U.S. gas prices spike as calls to ban Russian oil continue

By David Koenig, Associated Press

Gasoline prices are pushing even farther above $4 a gallon, the highest price that American motorists have faced since July 2008, as calls grow to ban imports of Russian oil.