Latest Inflation News

World shares mostly higher after China cuts key rate

Aug. 15, 2022 05:04 AM EDT

BANGKOK (AP) — World shares were mostly higher early Monday after China's central bank cut a key interest rate and Japan reported its economy picked up momentum in the last quarter. U.S. futures edged lower and oil prices fell more than $2. Paris, Frankfurt, Tokyo and Sydney...

AP-NORC poll: Many in US doubt their own impact on climate

Aug. 15, 2022 02:41 AM EDT

WASHINGTON (AP) — Americans are less concerned now about how climate change might impact them personally — and about how their personal choices affect the climate — than they were three years ago, a new poll shows, even as a wide majority still believe climate change is happening. ...

'China threat' emerges in elections from UK to Australia

Aug. 14, 2022 12:23 PM EDT

LONDON (AP) — It's not just the economy. While inflation and recession fears weigh heavily on the minds of voters, another issue is popping up in political campaigns from the U.K. and Australia to the U.S. and beyond: the “China threat." The two finalists vying to become...

GOP candidates stress urgency at annual Nevada cookout

Aug. 13, 2022 21:41 PM EDT

GARDNERVILLE, Nev. (AP) — Standing in front of 1,500 Republicans at a rural ranch backdropped by the Sierra Nevada mountains, Nevada’s Republican governor candidate Joe Lombardo referenced the “elephant in the room” without naming him. The second-place finisher in the...

In Biden's big bill: Climate, health care, deficit reduction

Aug. 12, 2022 19:27 PM EDT

WASHINGTON (AP) — The biggest investment ever in the U.S. to fight climate change. A hard-fought cap on out-of-pocket prescription drug costs for Medicare recipients. A new corporate minimum tax to ensure big businesses pay their share. And billions left over to pay down federal...

Congress OKs Dems' climate, health bill, a Biden triumph

Aug. 12, 2022 19:08 PM EDT

WASHINGTON (AP) — A divided Congress gave final approval Friday to Democrats' flagship climate and health care bill, handing President Joe Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects for keeping their House and Senate majorities in...

Inflation Reduction Act may have little impact on inflation

Aug. 12, 2022 18:08 PM EDT

WASHINGTON (AP) — With inflation raging near its highest level in four decades, the House on Friday gave final approval to President Joe Biden's landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships...

Wall Street extends winning streak to 4th week

Aug. 12, 2022 17:00 PM EDT

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain. The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn't posted such a good stretch since November. ...

How major US stock indexes fared Friday 8/12/2022

Aug. 12, 2022 16:34 PM EDT

Stocks are closing higher on Wall Street, giving the S&P 500 its first 4-week winning streak since November. The benchmark index gained 1.7% Friday, and other indexes also rose. Technology stocks drove much the rally. Energy companies lagged the market as crude oil prices fell. ...

Best Buy trims jobs after it cuts sales and profit outlook

Aug. 12, 2022 15:28 PM EDT

NEW YORK (AP) — Best Buy, the nation's largest consumer electronics chain, is trimming jobs in an effort to adjust to new changes in consumer behavior as the virus wanes. Best Buy declined to say how many jobs it was cutting, but The Wall Street Journal, which was first to report...