Latest Inflation News
How Turkey's president Erdogan has maintained a tight grip on power in the country
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan, a populist with increasingly authoritarian tendencies, is scheduled to take the oath of office and start his third presidential term Saturday following his latest election win. Erdogan, who has led Turkey as prime...
Stock market today: Asia follows Wall Street up on hopes Fed will ease off rate hikes
BEIJING (AP) — Asian stock markets followed Wall Street higher Friday ahead of a U.S. jobs update after Federal Reserve officials reignited hopes another interest rate hike might be postponed. Shanghai, Tokyo, Hong Kong and Seoul advanced after U.S. lawmakers approved a deal to...
Stock market today: Asia follows Wall St up on hopes Fed will ease off rate hikes
BEIJING (AP) — Asian stock markets followed Wall Street higher Friday ahead of an update on the U.S. jobs market after Federal Reserve officials reignited hopes another interest rate hike might be postponed and lawmakers gave final approval to a deal to avert a government debt default. ...
US jobs report for May could point to slower hiring as Fed rate hikes cool demand for workers
WASHINGTON (AP) — America's surprisingly resilient job market may have delivered yet another month of solid hiring and pay gains in May, if economists' forecasts prove to be correct. Still, some signs of cooling could emerge in the government report being released Friday. Analysts...
Macy's slashes expectations for the year after a pullback by shoppers in the spring
NEW YORK (AP) — Macy's slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation. Sales began to flag in March, forcing the New York department store to cut prices on...
Know any airplane mechanics? A wave of retirements is leaving some US industries desperate to hire
WASHINGTON (AP) — Kwasi Bandoh, a senior recruiter for an airline, stood before a group of aviation mechanic students at their graduation ceremony last month and congratulated them for all having jobs. As some of the students began nudging each other, Bandoh realized that perhaps...
Supreme Court revives claims that SuperValu, Safeway overcharged governments for generic drugs
WASHINGTON (AP) — The Supreme Court on Thursday unanimously revived whistleblower lawsuits claiming that supermarket and pharmacy chains SuperValu and Safeway overcharged government health-care programs for prescription drugs by hundreds of millions of dollars. The decision gives...
Average long-term US mortgage rate climbs to 6.79% this week, highest level since November
LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since November, driving up borrowing costs for would-be homebuyers at a time when the housing market is being held back by a near record-low inventory of homes on the market. ...
Renewable energy surges, driven by solar boom and high fuel prices, report finds
BERLIN (AP) — The world is set to add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and take advantage of a boom in solar power, according to a new report Thursday. The International Energy Agency said...
US applications for unemployment benefits tick up slightly as labor market remains healthy
The number of Americans filing for unemployment benefits rose slightly last week but remains at healthy levels that continue to show a strong U.S. labor market. U.S. applications for jobless claims were 232,000 for the week ending May 27, an increase of just 2,000 from the previous...
