WASHINGTON (AP) — America’s employers added a healthy 253,000 jobs in April, evidence of a labor market that still shows surprising strength despite rising interest rates, chronically high inflation, and a banking crisis that could weaken the economy.
LOUISVILLE, Ky. (AP) — Two 10-year-olds are among 300 children who worked at McDonald's restaurants illegally, a Labor Department investigation of franchisees in Kentucky found. Agency investigators found the 10-year-olds received little or no pay at a McDonald's in Louisville, the Labor Department said. The franchisee for the Louisville store was among three McDonald’s franchisees fined $212,000 in total by the department.
WASHINGTON (AP) — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause the streak of 10 rate hikes that have made borrowing for consumers and businesses steadily more expensive.
NEW YORK (AP) — The Federal Reserve raised interest rates yet again Wednesday in its drive to cool inflation, and much of America will be directly affected. Rates on credit cards, mortgages and auto loans, which have been surging since the Fed began raising rates last year, all stand to rise even more. The result will be more burdensome loan costs for both consumers and businesses.
NEW YORK (AP) — A homeowner fired shots at a couple's car when they mistakenly turned onto his property while making an Instacart delivery. A Florida man was charged with killing and dismembering an Uber Eats delivery driver who brought food to his home. A woman was kidnapped and sexually assaulted while making a DoorDash delivery to a hotel. Ride-hailing and food delivery companies say such violent episodes are exceedingly rare among the millions of trips completed each week, and point to numerous safety measures they have taken over the years.
NEW YORK (AP) — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. The only larger bank failure was Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan.
WASHINGTON (AP) — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for the 10th time since March of last year. The index, which excludes volatile food and energy costs to capture “core” prices, rose 0.3% from February to March and 4.6% from a year earlier — still far above the Fed’s 2% target rate. Some Fed officials are concerned that core inflation hasn’t declined much since reaching 4.7% in July.
OMAHA, Neb. (AP) — Federal regulators are warning railroads that the long trains they favor can cause all kinds of problems and contribute to derailments, so they want the railroads to ensure their training and operating procedures account for that. The Federal Railroad Administration stopped short of recommending in its latest safety advisory issued Thursday that railroads limit the size of their trains, which can routinely stretch more than 2 miles long.
Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy. The number of Americans filing for jobless claims for the week ending April 22 fell by 16,000 to 230,000, the Labor Department reported Thursday.
SHENMU, China (AP) — China is using “smart” technology to try to improve its safety record in coal mines, as part of a push by the National Energy Administration to bolster output and stem …
Around the world, food prices are persistently, painfully high. Puzzlingly, too. On global markets, the price of grains, vegetable oil, dairy and other agricultural commodities has fallen steadily …
WASHINGTON (AP) — Toy company Mattel revealed its first Barbie doll representing a person with Down syndrome on Tuesday. Mattel collaborated with the National Down Syndrome Society to create the Barbie and “ensure the doll accurately represents a person with Down syndrome,” the company said.
The coronation of King Charles III is luring royal fans fascinated by the pageantry, spectacle and drama of the monarchy and far-flung visitors eager to experience a piece of British history. Tour …
Coca-Cola Co. reported higher-than-expected sales in the first quarter as it continued to hike prices and saw its business in China improve. Coke said its revenue rose 5% to $11 billion for the …
A growing number of developers are considering converting empty office towers into housing as part of an effort to revive struggling downtown business districts that emptied out during the pandemic. …
SCRANTON, Pa. (AP) — One of the most important munitions of the Ukraine war comes from a historic factory in this city built by coal barons, where tons of steel rods are brought in by train to be forged into the artillery shells Kyiv can’t get enough of — and that the U.S. can’t produce fast enough.
SACRAMENTO, Calif. (AP) — Attorneys general in 17 states on Thursday urged the federal government to recall millions of Kia and Hyundai cars because they are too easy to steal, a response to a sharp increase in thefts fueled by a viral social media challenge. Some Kia and Hyundai cars sold in the United States over the last decade do not have engine immobilizers, a standard feature on most cars that prevents the engine from starting unless the key is present.
This time it's for real. Many of Twitter’s high-profile users are losing the blue check marks that helped verify their identity and distinguish them from impostors on the Elon Musk-owned social media platform. After several false starts, Twitter began making good on its promise Thursday to remove the blue checks from accounts that don't pay a monthly fee to keep them.
Anyone in the U.S. who has had a Facebook account at any time since May 24, 2007, can now apply for their share of a $725 million privacy settlement that parent company Meta has agreed to pay. Meta is paying to settle a lawsuit alleging the world’s largest social media platform allowed millions of its users’ personal information to be fed to Cambridge Analytica, a firm that supported Donald Trump’s 2016 presidential campaign.
The Supreme Court is deciding whether women will face restrictions in getting a drug used in the most common method of abortion in the U.S. while a lawsuit continues. The justices are expected to …
DETROIT (AP) — Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. But under the Treasury Department rules and other provisions of last year's Inflation Reduction Act, most of the more than 60 electric or plug-in hybrids on sale in the U.S. won't get any tax credits.
WASHINGTON (AP) — A senior Federal Reserve official said Friday that there has been little progress on inflation for more than a year and that more interest rate hikes are needed to get prices under control. Christopher Waller, a member of the Fed's governing board, did not specify how many more increases he supports, but said in written remarks that inflation “is still much too high and so my job is not done.”
WASHINGTON (AP) — Americans cut their spending at retail stores and restaurants in March for the second straight month, a sign consumers are becoming more cautious after a burst of spending in January. Retail sales dropped 1% in March from February, a sharper decline than the 0.2% fall in the previous month. Lower sales of autos, electronics, and at home and garden stores drove the decline.
Delta Air Lines has reported a $363 million loss for the first quarter because of much higher spending on labor and fuel. That's overshadowing a sharp rise in revenue. Delta said Thursday the second …
NEW YORK (AP) — Expecting a tax refund? It could be smaller than last year. And with inflation still high, that money won't go as far as it did a year ago. The 90 million taxpayers who have filed as of March 31 got refunds that were an average of nearly 10% less than last year, in part due to pandemic relief programs expiring. The filing deadline for most taxpayers is Tuesday.