News
US weekly unemployment claims fall to 208,000, fewest in 10 weeks
2+ hour, 4+ min ago (287+ words) WASHINGTON – Filings for unemployment benefits fell last week to the lowest level in 10 weeks as U.S. layoffs remain historically low. The number of Americans applying for jobless aid in the week ending July 11 dropped by 8,000 to 208,000, the Labor Department reported…...
Fed chair Warsh sidesteps Senate questions on inflation, AI, contact with Trump
1+ day, 1+ hour ago (574+ words) WASHINGTON – Federal Reserve Chair Kevin Warsh on Wednesday navigated a series of thorny questions from senators on issues such as the impact of AI on inflation, what contacts he has had with President Donald Trump, and how the central bank…...
US producer prices drop 0.3% from May to June on lower energy prices, but outlook is cloudy
1+ day, 1+ hour ago (236+ words) WASHINGTON – U.S. wholesale inflation fell from May to June on plunging energy prices, but intensifying hostilities with Iran are clouding the outlook. The Labor Department reported Wednesday that its producer price index — which captures inflation before it reaches consumers — dropped…...
Warsh says Fed has 'no tolerance' for high inflation but provides no hints on next move
1+ day, 20+ hour ago (57+ words) News4JAX 1,000 evacuated from Fontainebleau fires near Paris; Spanish authorities identify some fire victims Community supports Jacksonville family after I‑295 crash kills mother, 3‑year‑old I-TEAM uncovers squatters, unsafe conditions at troubled landlord’s Westside apartment complex...
US jobless claims dip modestly to 215,000 last week as layoffs remain at historically healthy levels
1+ week, 6+ hour ago (286+ words) WASHINGTON – The number of Americans filing for unemployment benefits dipped slightly last week as layoffs in the U.S. remain historically low. U.S. applications for jobless aid in the week ending July 4 ticked down by 2,000 to 215,000, the Labor Department reported Thursday....
PepsiCo says economic concerns weighed on customers in North American during recent quarter
1+ week, 3+ hour ago (297+ words) NEW YORK – PepsiCo reported stronger than expected revenue in the second quarter despite weaker demand in North America, where it said consumers tightened their budgets due to economic concerns. The food and beverage giant said Thursday that its net revenue…...
Assumable mortgages with rates in the 2% range can help buyers afford more home despite higher interest rates
2+ week, 1+ hour ago (535+ words) JACKSONVILLE, Fla. – With the average 30-year fixed mortgage rate hovering around 6.5%, many prospective homebuyers have put their plans on hold as higher borrowing costs drive up monthly payments. But some buyers are finding a workaround: assumable mortgages. An assumable mortgage…...
Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
2+ week, 23+ hour ago (625+ words) WASHINGTON – New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought. In remarks at a central bank conference in…...
Egg producers will pay $3.3M and donate 53 million eggs to settle price fixing claims
2+ week, 1+ day ago (725+ words) NEW YORK – The U.S. Justice Department and 17 states reached settlement agreements with three major egg producers this week to resolve allegations that the companies illegally colluded for years to raise prices, including when the cost soared to record highs last…...
All 32 of the nation's biggest banks clear the Fed's annual 'stress test"
3+ week, 17+ hour ago (232+ words) NEW YORK – All 32 of the nation's biggest banks passed the Federal Reserve's annual “stress test” of the financial system, the central bank said Wednesday, a sign that the banking system would remain healthy even if a major economic contraction occurred....