Fed Chair Jerome Powell: US inflation is cooling again, though it isn't yet time to cut rates

WASHINGTON (AP) — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high...

US job openings rise to 8.1 million despite higher interest rates

WASHINGTON (AP) — U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market. Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department...

Federal Reserve Chair Powell: US inflation is slowing again after higher readings earlier this year

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts

FRANKFURT, Germany (AP) — Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate. The figure...

Inflation falls slightly to 2.5% in Europe in June, remains stuck above levels favored by central bank

Puerto Rico approves electricity rate increase weeks after massive blackout

SAN JUAN, Puerto Rico (AP) — Puerto Ricans were hit Monday with a 4.6% increase in electricity rates through September, in a blow to 3.2 million people who struggle with chronic power outages as the U.S. territory’s grid keeps deteriorating. For clients who consume 800 kilowatt...

Japan revises economic growth in 1Q downward, as latest data show sluggish demand and rising prices

BANGKOK (AP) — Japan revised its earlier estimates to show that its economy contracted at a 2.9% annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed conditions remain sluggish. Analysts had expected the downward revision...

Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis

CAIRO (AP) — Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro ($8 billion) aid package for the cash-strapped Middle Eastern nation. The March aid...

Stock market today: Stocks edge lower on Wall Street, ending a 3-week winning streak for the S&P 500

Stocks on Wall Street gave up early gains and finished lower Friday, ending a three-week winning streak for the S&P 500. A flurry of selling late in the day left the benchmark index 0.4% lower and in the red for the week. The Nasdaq composite fell 0.7%, while the Dow Jones...

Federal Reserve's preferred inflation gauge shows price pressures easing further

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. Friday's Commerce Department report showed that consumer prices were flat from April to May, the mildest such...