Category: Business

The Consumer Price Index rose 5.4% last month compared to a year ago — the biggest monthly jump since 2008. During testimony on Capitol Hill Wednesday, Federal Reserve Chairman Jerome Powell gave his assessment about the price surge and risks of inflation. David Wessel, the director of The Hutchins Center […]

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months” before “moderating,” an apparent acknowledgement that price gains have been larger and more persistent than many economists forecast. Watch Powell’s testimony live at noon ET in the video player above. In written […]

LONDON (AP) — British lawmakers voted on Tuesday to support a contentious cut to the U.K.’s foreign aid budget, a move that has slashed billions from programs helping some of the world’s poorest people. The decision came in a 333-298 House of Commons vote that saw two dozen members of […]

WASHINGTON (AP) — A $1 trillion bipartisan infrastructure deal senators struck with President Joe Biden is at risk of stalling out as Republicans mount stiff resistance over ways to pay for it and momentum shifts to a more robust Democratic proposal that could come into focus as soon as Tuesday. […]

WASHINGTON — Prices for U.S. consumers jumped in June by the most in 13 years, extending a run of higher inflation and fueling concerns that the rapidly rebounding economy is making goods and services increasingly expensive. Tuesday’s report from the Labor Department showed that consumer prices in June rose 0.9% […]

HAVANA (AP) — Large contingents of Cuban police patrolled the capital of Havana on Monday following protests around the island nation against food shortages and high prices amid the coronavirus crisis. Cuba’s president said the demonstrations were stirred up on social media by Cuban-Americans in the United States. Many young […]

In the runup to Tesla Inc.’s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer” — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs. It didn’t exactly work out that […]

Hari Sreenivasan: Nearly two-thirds of the world’s cocoa production comes from West Africa where an estimated 1.6 million children work illegally on farms across the region. But rooting out the illegal practice is difficult. Last month, the U.S. Supreme court ruled in favor of food giants Nestle and Cargill, both […]

DES MOINES, Iowa (AP) — The federal government promised Friday to spend $500 million to encourage the construction of smaller meat processing plants located closer to farmers who raise chickens, pigs and cows with the goal of diversifying an industry now largely run by a small number of large corporations. […]