Latest Economy News

Live updates | Zelenskyy: Ukraine needs even more weapons

May. 24, 2022 18:19 PM EDT

KYIV, Ukraine — Ukrainian President Volodymyr Zelenskyy said Russia is using everything at its disposal in the fight for four cities in the eastern Donbas region. “The situation in the Donbas now is very difficult,” Zelenskyy said late Tuesday in his nightly address to the...

US safety, savings rules set stage for baby formula shortage

May. 24, 2022 18:01 PM EDT

WASHINGTON (AP) — A massive recall is getting most of the blame for the U.S. baby formula shortage, but experts say the products have long been vulnerable to this type of crisis due to decades-old policies that have allowed a handful of companies to corner the market. Those...

Slumping technology stocks pull Wall Street lower

May. 24, 2022 16:54 PM EDT

NEW YORK (AP) — Stocks on Wall Street gave up more ground Tuesday amid mounting worries that persistently high inflation will dim corporate profits. The S&P 500 fell 0.8%, while the Nasdaq dropped 2.3%. The Dow Jones Industrial Average eked out a 0.2% gain, thank's primarily...

How major US stock indexes fared Tuesday

May. 24, 2022 16:34 PM EDT

A slump in several big companies weighed down the stock market Tuesday, leaving most major indexes lower. The S&P 500 index fell, as did the Nasdaq composite, which is heavily weighted with technology companies. Gains for McDonald’s and UnitedHealth helped push the Dow Jones...

Food company to create more than 200 jobs in North Carolina

May. 24, 2022 16:34 PM EDT

RALEIGH, N.C. (AP) — A fresh foods manufacturer says it is expanding production in the Southeast with plans to invest over $42 million in a North Carolina production facility which will create more than 200 jobs, Gov. Roy Cooper announced Tuesday. Häns Kissle Co. will build a...

Editorial Roundup: Indiana

May. 24, 2022 16:21 PM EDT

Anderson Herald Bulletin. May 23, 2022. Editorial: Outbreak of Legionnaires’ may be costly to state Outbreaks of Legionnaires’ disease in prisons are occasionally downplayed by the officials in charge of penal institutions. Earlier this year, it was...

Ford pays $19M to settle claims on fuel economy, payload

May. 24, 2022 16:11 PM EDT

SACRAMENTO, Calif. (AP) — Ford Motor Company on Tuesday settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles, violating state consumer protection laws. The company agreed to pay...

SC budget negotiators have almost $1B more to talk about

May. 24, 2022 16:08 PM EDT

COLUMBIA, S.C. (AP) — The South Carolina lawmakers negotiating big gap s between the House and Senate versions of the state budget received a big gift Tuesday as the state's economy continued to do better than predicted. South Carolina can now expect to have about $950 million more...

US to end Russia's ability to pay international investors

May. 24, 2022 16:07 PM EDT

WASHINGTON (AP) — The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable. The Treasury Department said in a...

Report says North Dakota's 2022 economic outlook is strong

May. 24, 2022 15:07 PM EDT

BISMARCK, N.D. (AP) — The latest economic outlook report for North Dakota is showing continued improvement for 2022, despite a national economy that shrank in the first quarter and is showing signs of entering a recession. The quarterly report by the University of North Dakota...