WASHINGTON (AP) — The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged. The second-quarter expansion of the nation’s gross domestic product — its total output of goods and services — marked … Read more
NEW YORK (AP) — Wall Street wheezed to more losses Friday as it limped to the finish of its worst week in six months. The S&P 500 slipped 9.94 points, or 0.2%, to 4,320.06 after a late-day swoon erased a modest gain it had held for most of the day. It capped an ugly slide … Read more
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September. Thursday’s report from the Commerce Department showed that prices rose just 0.2% from … Read more
JACKSON HOLE, Wyoming (AP) — The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have … Read more
DUBAI, United Arab Emirates (AP) — Two years after the Taliban takeover of Afghanistan, the United States has begun easing rules that could allow commercial airlines to fly over the country in routes that cut time and fuel consumption for East-West travel. But those shortened flight routes for India and Southeast Asia raise questions never … Read more
LOUISVILLE, Ky. (AP) — The company behind a disastrous change to a Kentucky city’s school bus routes that resulted in more than a week of canceled classes had similar problems in two cities in neighboring Ohio last year. Touting its connections to the Massachusetts Institute of Technology, bus-routing vendor AlphaRoute pitched its mathematical models and … Read more
DUBAI, United Arab Emirates (AP) — Western-backed maritime forces in the Middle East on Saturday warned shippers traveling through the strategic Strait of Hormuz to stay as far away from Iranian territorial waters as possible to avoid being seized, a stark advisory amid heightened tensions between Iran and the U.S. A similar warning went out … Read more
NEW YORK (AP) — Stocks are rallying Thursday as Wall Street lets out a bit of an exhale following the latest update on inflation across the U.S. The S&P 500 was 1.1% higher in early trading and on track for just its second winning day in the last eight. The Dow Jones Industrial Average was … Read more
NEW YORK (AP) — Several news organizations, writers and photographers groups are pushing to be involved in creating standards for the use of artificial intelligence, particularly as it concerns intellectual property rights and the potential spread of misinformation. In an open letter sent on Wednesday, they outlined priorities for setting rules on the technology, which … Read more
Facing a shortage of air traffic controllers, the Federal Aviation Administration said Wednesday that it will let airlines continue to limit flights in the New York City area into October without penalties that they would normally face for such reductions. Airlines that fail to use all their takeoff and landing rights or “slots” at those … Read more