Apr 16 Elevated inflation will likely delay interest rate cuts this year, warns Federal Reserve Chair Powell By Christopher Rugaber, Associated Press "Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said during a panel discussion. Continue reading
Apr 16 Yellen warns of more sanctions in response to Iran’s increasing activity By Fatima Hussein, Associated Press “Treasury will not hesitate to work with our allies to use our sanctions authority to continue disrupting the Iranian regime’s malign and destabilizing activity,” she said. “I fully expect we will take additional sanctions actions against Iran in the coming… Continue reading
Apr 15 Tesla reportedly to lay off a tenth of its workforce after dismal first-quarter sales By Associated Press The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Shares of Tesla fell nearly 3% in Monday morning trading after the news broke. Continue reading
Apr 14 Watch 5:45 Extreme drought plunges millions in southern Africa into hunger crisis By Ali Rogin, Andrew Corkery, Satvi Sunkara A devastating drought induced by El Nino has scorched crops and left millions hungry in southern Africa. As aid groups face budget cuts and broaden their operations to other conflicts, the region’s crisis is expected to worsen. Ali Rogin speaks… Continue watching
Apr 12 How migrant workers have contributed to strong U.S. job growth By Paul Wiseman, Gisela Salomon, Associated Press It turns out that the influx of foreign-born adults vastly raised the supply of available workers at a time when a labor shortage had left many companies unable to fill jobs. Over the past year, in fact, immigrants have accounted… Continue reading
Apr 12 Oil and gas companies must pay more to drill on public lands under new Biden administration rule By Matthew Daly, Associated Press The Interior Department rule finalized Friday raises royalty rates for oil drilling by more than one-third, to 16.67 percent, in accordance with the sweeping 2002 climate law approved by Congress. Continue reading
Apr 11 Environmentalists protest Biden administration approval of huge oil export terminal off Texas coast By Matthew Daly, Associated Press Environmentalists have called the move a betrayal of President Joe Biden's climate agenda and say it would lead to planet-warming greenhouse gas emissions equivalent to nearly 90 coal-fired power plants. Continue reading
Apr 11 Freight railroads ask courts to throw out new rule requiring 2-person crews on trains By Josh Funk, Associated Press Four railroads have asked federal appeals courts to throw out a new rule that would require two-person train crews in most circumstances. The identical challenges were filed this week in appellate courts across the country. Continue reading
Apr 11 Vietnam sentences real estate tycoon Truong My Lan to death in massive fraud case By Aniruddha Ghosal, Associated Press The 67-year-old chair of real estate company Van Thinh Phat was accused of fraud amounting to $12.5 billion — nearly 3 percent of the country's 2022 GDP. Continue reading
Apr 10 Internet providers must now be more transparent about fees, pricing, FCC says By Cora Lewis, Associated Press The new required pricing labels are modeled on nutritional labels and are meant to help consumers comparison shop and avoid junk fees. Continue reading