May 14 Justice Department says Boeing violated deal that avoided prosecution after 737 Max crashes By Associated Press The Justice Department said Tuesday in a filing in federal district court in Texas that Boeing failed to make changes to prevent it from violating federal anti-fraud laws — a condition of the the 2021 settlement. Continue reading
May 14 Federal Reserve Chair Powell downplays potential for a rate hike despite higher price pressures By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Continue reading
May 14 WATCH: Biden announces new tariffs on Chinese goods including electric vehicles, solar panels By Josh Boak, Fatima Hussein, Paul Wiseman, Didi Tang, Associated Press The Democratic president said that Chinese government subsidies ensure the nation's companies don’t have to turn a profit, giving them an unfair advantage in global trade. Continue reading
May 13 Small, well-built Chinese electric vehicle poses a big threat to the U.S. auto industry By Tom Krisher, Ken Moritsugu, Associated Press The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China. But it drives well and is put together with craftsmanship that rivals U.S.-made electric vehicles that cost three times as much. Continue reading
May 13 China and U.S. envoys to hold 1st top-level dialogue on artificial intelligence By Jamey Keaten, Associated Press The meeting Tuesday is billed as an opening exchange of views in an inter-governmental dialogue on AI agreed during a meeting between U.S. President Joe Biden and Chinese President Xi Jinping in San Francisco in November. Continue reading
May 13 Biden blocks Chinese-backed crypto mining firm from land ownership near Wyoming military base By Fatima Hussein, Zeke Miller, Associated Press The order forces the divestment of property operated as a crypto mining facility near the Francis E. Warren Air Force Base. It also forces the removal of certain equipment owned by MineOne Partners Ltd., a firm that is partly owned… Continue reading
May 13 Are U.S. interest rates high enough to beat inflation? The Fed will take its time to find out By Christopher Rugaber, Associated Press The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this… Continue reading
May 13 U.S. airlines are suing the Biden administration over a new rule to make certain fees easier to find By Associated Press The rule requires better disclosure of fees on baggage and changing or canceling a reservation. The airlines say the new rule will confuse consumers by giving them too much information during the ticket-buying process. Continue reading
May 12 Watch 7:09 The costs and pitfalls of ‘earned wage access’ apps that offer loans between paychecks By John Yang, Andrew Corkery Two years of high prices for everything from groceries to gas have left many Americans struggling between paydays. For help, some are increasingly turning to “earned wage access” apps, which offer small, short-term loans until their next paycheck. We hear… Continue watching
May 10 New York’s legal marijuana program plagued by inexperienced leaders, report finds By Anthony Izaguirre, Associated Press New York's legal cannabis market has been hampered by inexperienced leaders who treated the state licensing agency like a "mission-driven" startup rather than a government office, according to an internal review. Continue reading