WRAL.com - AP Business News

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?

Thu, 15 Jun 2023 04:18:02 -0400

FRANKFURT, Germany (AP) — The U.S. Federal Reserve may have hit “pause” on interest rate hikes, but the European Central Bank still has its finger on “fast forward” as inflation plagues consumers with higher costs for everything from groceries to utility bills and summer vacations.

China's factory, consumer activity weakens in May, youth unemployment rises

Thu, 15 Jun 2023 01:27:33 -0400

BEIJING (AP) — China’s consumer and factory activity weakened in May and record-breaking unemployment among young people in cities rose as an economic rebound following the end of anti-virus controls slowed.

Fed Chair Powell sees progress on inflation, though not quickly enough

Thu, 15 Jun 2023 00:02:17 -0400

WASHINGTON (AP) — Inflation may be cooling — just not yet fast enough for the Federal Reserve.

What you should know as the Fed gets closer to the peak of its rate-hiking cycle

Wed, 14 Jun 2023 14:50:14 -0400

NEW YORK (AP) — The Federal Reserve’s decision Wednesday to leave interest rates alone for the first time in 11 meetings raises hopes that it may be at least nearing the end of its rate-hiking campaign to cool inflation.

Stock market today: Global shares mixed after Fed holds rates steady but hints of hikes ahead

Thu, 15 Jun 2023 04:52:25 -0400

TOKYO (AP) — Global shares were trading mixed Thursday after the U.S. Federal Reserve held interest rates steady.

Biden targets junk fees with executives from Live Nation, SeatGeek and Airbnb

Thu, 15 Jun 2023 05:32:14 -0400

WASHINGTON (AP) — President Joe Biden is hosting executives from Live Nation, Airbnb and other companies at the White House on Thursday to highlight his administration's push to end so-called junk fees that surprise consumers.

West Coast dockworkers, shippers reach tentative contract agreement

Thu, 15 Jun 2023 03:01:18 -0400

SAN FRANCISCO (AP) —

Theranos founder objects to $250 monthly restitution sought by US due to limited financial resources

Wed, 14 Jun 2023 23:18:14 -0400

WASHINGTON (AP) — Federal prosecutors want Elizabeth Holmes to pay $250 each month to victims of her failed blood testing startup after she leaves prison, but her attorneys are pushing back citing “limited financial resources" available to the disgraced founder of Theranos.

Google should break up digital ad business over competition concerns, European regulators say

Wed, 14 Jun 2023 12:42:15 -0400

BRUSSELS (AP) — European Union regulators hit Google with fresh antitrust charges Wednesday, saying the only way to satisfy competition concerns about its lucrative digital ad business is by selling off parts of the tech giant's main moneymaker.

Energy secretary Granholm says she failed to reveal stock holdings; GOP calls for investigation

Wed, 14 Jun 2023 19:40:39 -0400

WASHINGTON (AP) — The top Republican on the Senate Energy panel is calling for an investigation of Energy Secretary Jennifer Granholm, after she told the committee she mistakenly provided false information about her family's stock holdings in testimony earlier this year.