Fuel prices spike amid Ukraine crisis, climbing near $5 a gallon in some markets
Americans are paying nearly a dollar more for a gallon of gas than they did last year as the growing threat of war in Ukraine moved oil prices higher.
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Ex-ITT Tech students among thousands to receive $415M in loan cancellations
This is the fourth finding against Carmel-based ITT Tech that has led to the approval of debt relief claims by the department. All told, the evidence has resulted in about $660 million in discharges for roughly 23,000 students.
Mortgage rates soar to levels not seen in nearly three years
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average has spiked in the last six weeks to 3.92%.
White House, Dems eye pause of gas tax as prices soar, election looms
The early deliberations come days after a group of vulnerable Senate Democrats introduced a bill that would suspend the gas tax of roughly 18 cents per gallon for the rest of the year.
Car dealers are raising prices. Automakers are pushing back. Consumers are stuck in between.
Soaring car prices have set off a battle between automakers and independent dealers, with consumers routinely paying hundreds, often thousands, more than the listed price amid a protracted vehicle shortage.
Senate passes bill to end forced arbitration in sexual assault, harassment cases
The bill would nullify agreements between employees and their employers in which the employees waive their rights to sue in the case of sexual assault or harassment.
College athletes advocacy group files unfair labor charges against schools, NCAA
It is the first step in a legal strategy that the group hopes will lead to free-market wages for athletes in the revenue-producing Division I sports, as well as leverage for those athletes to broker a collective bargaining agreement with the NCAA.
Inflation has Fed critics pointing to spike in money supply
The persistence of inflation, now running at an annual rate of 7%, has provided ammunition to conservative critics of the central bank known as “monetarists” for their adherence to the writings of economist Milton Friedman.
John Mellencamp still has plenty of fight left in him
Now, at age 70, after a lifetime of speaking his mind, the Indiana artist doesn’t hesitate to name his adversaries.
UPDATE: U.S. employers add surprising 467,000 jobs in January, put pressure on Fed
The government’s report Friday also drastically revised up its estimate of job gains for November and December by a combined 709,000.
U.S. Black jobless rate improves, with more entering workforce
The latest government figures show that the surprisingly strong labor market last month extended to parts of the workforce that usually take longer to draw in.
Facebook loses users for first time in history
Facebook parent Meta’s quarterly earnings report on Wednesday revealed a startling statistic: For the first time ever, the company’s growth is stagnating around the world.
Indiana education group gets $800K chunk of $133M national gift
Communities in Schools of Indiana has received the largest gift in its history as part of a mega-donation from philanthropist MacKenzie Scott.
Brian Flores’ allegations against NFL lead to call for congressional hearing
Flores said in a televised interview earlier Wednesday that he is trying to “create some change” to the league’s minority hiring practices.
More than 4,500 flights canceled as winter storms slam Midwest, southern U.S.
The storm is the latest wintry headache for an industry that spent part of December and January recovering from several thousand canceled flights amid heavy snow and staffing shortages fueled by the omicron variant.
Dems, GOP set to huddle on deal to fund government, avert shutdown
The upcoming discussions mark the second consecutive day of private meetings on Capitol Hill, as lawmakers who oversee the federal purse increasingly express a measure of confidence that they can act before a Feb. 18 deadline.
Researchers are asking why some countries were better prepared for COVID. One surprising answer: Trust.
“We found no links between COVID outcomes and democracy, populism, government effectiveness, universal health care, pandemic preparedness metrics, economic inequality or trust in science,” a researcher said.
U.S. manufacturing growth slows for third straight month
The latest numbers suggest the recent wave of infections due to the omicron variant may have hampered plant operations.
Biden begins crackdown on power plant pollution
The White House is aiming to shift the nation’s electricity supply to cleaner energy in the face of congressional resistance and a Supreme Court that could limit the federal government’s ability to tighten public health standards.
U.S. stocks end January on a high note, but still chalk up worst month since March 2020
The S&P 500 index advanced 1.9%, reclaiming some of its January losses but still closing down nearly 5.9% in its worst monthly performance since March 2020. And the tech-heavy Nasdaq, still down 10% for January, climbed 3.4%, boosted by investors looking to buy the dip.