NCAA president decries pace of basketball investigations
This year’s NCAA Tournament could be tainted should Kansas win the national championship and subsequently have an unfavorable decision come down in a now half-decade-old investigation.
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UPDATE: Biden tapping oil reserve for 6 months to control gas prices
The release of reserves in the U.S. could create pressures that could reduce oil prices, though Biden has already twice ordered releases from the strategic reserves without causing a meaningful shift in oil markets.
Key inflation gauge sets 40-year high as gas and food soar
Squeezed by inflation, consumers increased their spending by just 0.2% in February, down from a much larger 2.7% gain in January. Adjusted for inflation, spending actually fell 0.4% last month.
Pence unveils Republican policy agenda for midterm elections
Former Vice President Mike Pence’s “Freedom Agenda,” released Thursday, combines traditional Republican goals like increasing American energy production, cutting taxes and rolling back regulations with priorities pursued by former President Donald Trump on issues like trade and immigration.
End of COVID could mean major turbulence for U.S. health care
When the end of the COVID-19 pandemic comes, it could create major disruptions for a cumbersome U.S. health care system made more generous, flexible and up-to-date technologically through a raft of temporary emergency measures.
March Madness paying off for players under mishmash of rules
This week, the University of Kansas, Villanova University, the University of North Carolina and Duke University will play in the first Final Four to be held under the new world of “name, image and likeness,” or NIL, endorsements in college sports.
FDA panel narrowly sides against experimental ALS drug
The FDA has also emphasized the need for “regulatory flexibility” when reviewing drugs for fatal diseases like ALS. The panel’s close vote could tip the agency toward an approval, given the lack of options currently available.
Even as inflation bites, corporate profits remain flush
Big companies have successfully raised prices for their products because their customers have kept lining up regardless. What’s uncertain is how much longer the trend may last, before customers sharply cut back on their purchases.
U.S. quarterly growth revised slightly lower, to 6.9%
Looking ahead, growth is likely to slow sharply this year, particularly in the first three months 2022. Higher inflation will likely weigh on consumer spending as Americans take a dimmer view of the economy.
Indiana governor visits refugees as state cuts Russian ties
Indiana’s state government is selling off nearly $150 million of Russian-related investments as the governor said he’s looking at ways the state could help Ukrainian refugees fleeing from the Russian invasion of their country.
Explainer: Bond yields might be warning of upcoming recession
The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern.
FTC sues Intuit to stop ‘bait-and-switch’ TurboTax ads
The consumer protection agency said Tuesday that millions of consumers cannot actually use the free tax-prep software option—two-thirds of tax filers in 2020. They are ineligible, the agency says, if they are gig workers or earn farm income, for example.
Media measuring company Nielsen to be acquired in $16B deal
Viewing data collected by Nielsen plays a big role in determining where billions in advertising dollars are spent each year. The company itself has annual global revenue of about $3.5 billion.
U.S. job openings, quitting at near-record high in February
There were 11.3 million available jobs last month, matching January’s figure and just below December’s record of 11.4 million, the Labor Department said Tuesday.
FDA approves another Pfizer, Moderna COVID booster for those 50 and up
The latest expansion, regardless of people’s health, allows an extra shot to millions more Americans—and the question is whether everyone who’s eligible should rush out and get it.
U.S. seeks new lithium sources as demand for batteries grows
The U.S. will need far more lithium to achieve its clean energy goals, but the industry that mines, extracts and processes the chemical element faces a host of challenges from environmentalists, Indigenous groups and government regulators.
Commerce investigation imperils solar industry, advocates say
Clean energy leaders said the investigation—which could result in retroactive tariffs of up to 240%—would severely hinder the U.S. solar industry, leading to thousands of layoffs and imperiling up to 80% of planned solar projects in the United States.
FDA skeptical of benefits from experimental ALS drug
On Wednesday, a panel of FDA advisers will take a non-binding vote on whether the drug warrants approval. The meeting is being closely watched as an indicator of the FDA’s approach to experimental drugs with imperfect data and its ability to withstand outside pressure.
Biden’s budget plan calls for higher taxes on rich, lower deficits
Biden is proposing a total of $5.8 trillion in federal spending in fiscal 2023, which begins in October. The deficit would be $1.15 trillion.
Amazon tries to stave off union drive on two fronts
Amazon is gearing up for its toughest labor fight yet, with two separate union elections coming to a head as soon as next week that could provide further momentum to the recent wave of organizing efforts across the country.