New cars, once part of American dream, now out of reach for many
The average price of a new vehicle in the United States has risen 30 percent over the past three years, according to Kelley Blue Book, pricing more Americans out of the new car market.
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Weight-loss brand Jenny Craig to close down operations
The weight loss and nutrition business has shut down after four decades of operation after failing to secure additional financing. Jenny Craig lists three weight-loss centers in Indianapolis.
Debt ceiling breach could wipe out 8 million jobs, White House says
The White House Council of Economic Advisers compared the potential economic impact of a debt ceiling breach to the 2008 Great Recession, in which economic growth contracts sharply and unemployment surges.
McDonald’s franchisees fined for child labor violations
Federal officials say two 10-year-olds are among the 300 children who worked for three separate franchisees that operate a total of 62 McDonald’s locations across Kentucky, Indiana, Maryland and Ohio.
As Fed examines banking woes, small businesses already feel the crunch
All over the country, small-business owners are feeling the early consequences of this spring’s banking crisis, which spanned two chaotic weeks in March and is still ricocheting through the economy.
DeJoy: U.S. Postal Service plans to keep raising prices
Postmaster General Louis DeJoy says his plan to dramatically increase postage rates could spell trouble for some businesses relying on mailing and shipping costs that have been kept low at the expense of the Postal Service’s financial stability.
Here’s what the Supreme Court abortion pill ruling means and what’s next
The Supreme Court has preserved full access to mifepristone, a key abortion medication, while a lower court considers whether to restrict when and how the drug should be prescribed.
Amazon HQ2 was thought up pre-pandemic, but the world is hybrid now
Amazon first announced its plans for its second headquarters in fall 2018, but the pandemic has thrown them into disarray as white-collar workers traded their commutes for their living rooms.
COVID vaccines to remain free to uninsured under Biden plan
The $1.1 billion program, funded by the Department of Health and Human Services, would allow officials to purchase coronavirus vaccine doses for uninsured Americans after the current federal supply is exhausted.
Fewer electric vehicles qualify for federal tax credits under new rules
The new list includes a total of 16 domestically manufactured models, with just 10 of the models qualifying for the full $7,500 tax credit.
SpaceX’s launch of Starship could remake space exploration
SpaceX this week hopes to launch of the biggest and most powerful rocket ever built. The company plans to use Starship to send people and cargo to the moon and, ultimately, Mars.
Inflation keeps cooling as Fed begins to worry about ‘mild’ recession
Reading the inflation report, economists emphasized the need to stay cautious and not treat all sources of price hikes as equal.
U.S. Postal Service raising mail prices for majority of users
The new rates, which cover stamps and other mail items including periodicals and advertising mailers, are poised to take effect July 9 unless overruled by the postal regulator.
Washington vows to tackle AI, as tech titans and critics descend
Lawmakers are anxiously eyeing the AI arms race, driven by the explosion of OpenAI’s chatbot ChatGPT.
Black unemployment rate hits record low 5%
Black employment has benefited from the same forces that have helped all workers—a surge in labor market demand coming out of the pandemic fueled by federal stimulus, which has led to one of the fastest job recoveries on record.
Texas judge suspends FDA approval of abortion pill mifepristone
A federal judge in Texas blocked U.S. government approval of a key abortion medication Friday, siding with abortion foes in an unprecedented lawsuit and potentially upending nationwide access to the pill widely used to terminate pregnancies.
IRS overhaul aims for tenfold increase in audits of the wealthy
IRS and Treasury Department officials said Thursday that they will use part of the $80 billion in new funding for the tax service to claw back unpaid balances from high-income earners and complex businesses.
Walmart to add EV charging to thousands of stores by 2030
The company plans to add the fast-charging stations to Walmart and Sam’s Club stores coast-to-coast, more than quadrupling its current network of roughly 280 locations.
Justice Thomas accepted luxury travel for years from GOP donor, report says
Supreme Court Justice Clarence Thomas trips around the globe for more than two decades, including travel on a superyacht and private jet, from a prominent Republican donor without disclosing them, according to a new report.
EPA clamps down on mercury from coal power plants
On Wednesday, the Environmental Protection Agency proposed the most stringent update on limits to mercury from smokestacks since the Obama administration first issued Mercury and Air Toxics Standards in 2012.