DETROIT (AP) — Teslas with partially automated driving systems are a step closer to being recalled after the U.S. elevated its investigation into a series of collisions with emergency vehicles or trucks with warning signs. The National Highway Traffic Safety Administration says Thursday that it's upgrading the probe to an engineering analysis, another sign of increased scrutiny of the electric vehicle maker and automated systems that perform at least some driving tasks.
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped back up ahead of next week’s Federal Reserve meeting where it’s expected to announce another increase to its main borrowing rate. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23% this week from 5.09% last week.
WASHINGTON (AP) — More Americans applied for jobless aid last week but the total number of Americans collecting unemployment remains at a five-decade low. Applications for unemployment benefits rose by 27,000 to 229,000 for the week ending June 4, the most since mid-January, the Labor Department reported Thursday.
AMSTERDAM (AP) — The European Central Bank said it would carry out its first interest rate increase in 11 years next month, followed by another hike in September. The bank made the surprise move Thursday, saying that inflation had become a “major challenge” and that those forces had “broadened and intensified.”
NEW YORK (AP) — U.S. markets appear to be heading for gains Thursday with European Central Bank announcing its first interest rate hike in 11 years. The bank will make two quarter-point increases, with the second arriving in September. The surprise decision is in reaction to inflation that has become a “major challenge,” with the central bank believing that forces pushing costs higher had “broadened and intensified.”
NEW YORK (AP) — Stocks fell broadly on Wall Street Wednesday, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.
ENGLEWOOD, Colo. (AP) — The Denver Broncos have entered into a sale agreement with the Walton-Penner ownership group. The buyers are led by Walmart heir Rob Walton, his daughter, Carrie Walton Penner, and her husband, Greg Penner. Although terms of the sale weren't disclosed late Tuesday night, the winning bid was reportedly for $4.65 billion. That's by far the most expensive deal for a sports franchise anywhere in the world.
NEW YORK (AP) — Major U.S. benchmarks are lower in premarket trading as broad concerns about interest rates, inflation and the war in Ukraine continue to weigh on investors. Futures for the Dow Jones industrials are 0.4% lower Wednesday and futures for the S&P 500 are down 0.3%.
NEW YORK (AP) — U.S. stocks rallied Tuesday as Treasury yields eased, but Wall Street remains wobbly as investors wait for more clarity on where interest rates, inflation and the economy are heading. The S&P 500 climbed 1% after bouncing back from an early loss of the same size.
Shares of Kohl’s are up more than 12% before the market open on Tuesday after the retailer announced that it is in exclusive takeover talks with the owner of Vitamin Shoppe. Kohl’s said that the exclusive period is for three weeks, with Franchise Group Inc. offering to buy the company for $60 per share.