Wall Street’s losses worsen as markets tumble worldwide
U.S. stocks are tumbling toward their lowest point in more than a year as renewed worries about China’s economy pile on top of markets already battered by rising interest rates.
Associated Press
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Marketing deals trickle down from NCAA to high school sports
The contracts have begun to emerge at the high school level after the Indianapolis-based NCAA’s decision last year to allow college athletes to monetize their stardom.
Biden starts program to provide discounted internet service
With the new commitment from the internet providers, some 48 million households will be eligible for $30 monthly plans for 100 megabits per second, or higher speed, service.
Average U.S. gasoline price jumps to near-record
The average price at the pump is $1.36 per gallon higher than it was one year ago.
U.S. added 428,000 jobs in April despite surging inflation
With many industries slowed by labor shortages, companies have been jacking up wages to try to attract job applicants and retain their existing employees. Even so, pay raises haven’t kept pace with the spike in consumer prices.
Anti-discriminatory bank law getting update for modern era
The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches.
Postmaster general: Get used to ‘uncomfortable’ rate hikes
Postmaster General Louis DeJoy said he’ll advocate for raising prices until “we have accomplished our objective of projecting a trajectory that shows us being self-sustaining.”
New reality for college sports on full display in Wong case
Leagues, schools and some coaches worry the new free-for-all upends competitive balance, disrupts rosters and pushes more control over NCAA athletic programs to outside forces.
FDA restricts J&J’s COVID-19 vaccine due to blood clot risk
The vaccine was initially considered an important tool in fighting the pandemic because it required only one shot. But the single-dose option proved less effective than two doses of the Pfizer and Moderna vaccines.
As diversity rises, U.S. boards still disproportionately white
More companies are being transparent about the racial breakdown for their board of directors. A big reason for that is because they’re being forced to, with pressure coming from stock exchanges, regulators and investors.
Small businesses still struggling to find enough workers
Data from payrolls processing firm ADP show a widening gap in hiring between businesses with 500 or more employees and businesses with less than 50 staffers. Those smaller businesses have lost jobs in three of the past four months.
Dollar surges to 2-decade high as investors seek refuge
Rising inflation that has caused the biggest jump in prices in 40 years has spurred the Federal Reserve to aggressively raise interest rates, which increases demand for U.S. dollars.
FAA offers help for snarled Florida summer air travel
Air traffic to Florida picked up more quickly during the pandemic than many other places, and airlines have scheduled even more flights for this summer. That is raising concern about the potential for massive disruptions that could ripple far beyond the state’s borders.
Here’s how higher Fed rates stand to affect Americans’ finances
Economists and investors foresee the fastest pace of Federal Reserve rate increases since 1989. The result could be much higher borrowing costs for households well into the future.
Fed raises key rate by half-point in bid to tame inflation
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday—its most aggressive move since 2000—and signaling further large rate hikes to come.
Intuit to pay $141M settlement over TurboTax ads touting free tax filing
Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.
Indiana GOP lawmakers hold off many—but not all—hard-right challengers
The roughly two dozen so-called liberty candidates did see some victories in Republican legislative races across the state, with one defeating a 10-term incumbent in northern Indiana and another winning the nomination for a GOP-leaning open seat in suburban Indianapolis.
Author JD Vance wins Ohio’s contentious GOP Senate primary
Vance’s win brings to a close an exceptionally bitter and expensive primary contest that, at one point, saw two candidates nearly come to blows on a debate stage. And it marks a major victory for Donald Trump, who gave late support to Vance.
Houchin wins crowded GOP primary for southern Indiana congressional seat
Former state Sen. Erin Houchin emerged Tuesday from a nine-candidate Republican field for the 9th Congressional District seat that opened up when current GOP Rep. Trey Hollingsworth unexpectedly announced in January he wouldn’t seek reelection after three terms.
U.S. employers post record employment openings, job quits
Employers posted 11.5 million job openings in March, more evidence of a tight labor market that has emboldened millions of American workers to seek better paying jobs and contributed to the biggest surge in inflation in four decades.