Latest Economy News

Musk wars with Twitter over his buyout deal - on Twitter

May. 17, 2022 15:51 PM EDT

Tesla CEO Elon Musk promised that taking over Twitter would enable him to rid the social media platform of its annoying “spam bots." Now he's arguing — without presenting any evidence — that there might be just too many of those automated accounts for the $44 billion deal to move ahead. ...

Buffalo suspect: Lonely, isolated -- with a troubling sign

May. 17, 2022 15:48 PM EDT

CONKLIN, N.Y. (AP) — In the waning days of Payton Gendron’s COVID-19-altered senior year at Susquehanna Valley High School, he logged on to a virtual learning program in economics class that asked: “What do you plan to do when you retire?” “Murder-suicide,” Gendron typed....

Powell: Fed to keep hiking rates until it controls inflation

May. 17, 2022 15:48 PM EDT

WASHINGTON (AP) — Chair Jerome Powell on Tuesday underscored the Federal Reserve's determination to keep raising interest rates until there is clear evidence inflation is steadily falling — a high-stakes effort that carries the risk of causing an eventual recession. The Fed's...

Editorial Roundup: United States

May. 17, 2022 15:42 PM EDT

Excerpts from recent editorials in the United States and abroad: May 15 The Washington Post says that, with midterms coming up, Democrats must act now to have a big impact on financial regulation President Biden likes to tout his role as “Sheriff...

Live updates | Ukraine official: 7 killed in Donetsk region

May. 17, 2022 15:30 PM EDT

KYIV, Ukraine — Seven civilians have been killed in Ukraine’s eastern Donetsk region as a result of Russian attacks, the Ukrainian regional governor says. Pavlo Kyrylenko wrote in a Telegram post that Tuesday's Russian attacks killed seven civilians of the Donbas: two in...

US to ease a few economic sanctions against Venezuela

May. 17, 2022 15:16 PM EDT

CARACAS, Venezuela (AP) — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the U.S.-backed opposition and the government of President Nicolás Maduro. The limited changes will allow...

House Dems propose $28 million to address formula shortage

May. 17, 2022 15:00 PM EDT

WASHINGTON (AP) — House Democrats unveiled a $28 million emergency spending bill Tuesday to address the shortage of infant formula in the United States. Rep. Rosa DeLauro, the Democratic chair of the House Appropriations Committee, said the bill would help the Food and Drug...

Prosecutors: NYC investment adviser blamed in $5B fraud

May. 17, 2022 14:38 PM EDT

NEW YORK (AP) — Bus drivers, subway conductors and religious and charitable organizations nationwide lost over $5 billion when a COVID-induced stock market collapse crushed private investment funds linked to a financial industry giant, exposing a massive fraud, authorities said Tuesday. ...

Stocks rise on Wall Street; report shows strong retail sales

May. 17, 2022 14:36 PM EDT

NEW YORK (AP) — Stocks rose in afternoon trading on Wall Street Tuesday as investors review an encouraging report on retail sales and a mixed batch of earnings updates from several big retailers. The S&P 500 rose 1.2% as of 2:33 p.m. Eastern. The Dow Jones Industrial Average...

Editorial Roundup: Missouri

May. 17, 2022 13:58 PM EDT

St. Louis Post-Dispatch. May 16, 2022. Editorial: Break up this abusive football cartel The outright duplicity that guided the words and actions of Rams owner Stan Kroenke and National Football League Commissioner Roger Goodell, among others, were widely assumed but...