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Passage of Inflation Reduction Act gives Medicare historic new powers over drug prices


Created: Sat, 13 Aug 2022 00:37:20 GMT

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The legislation represents a historic expansion of Medicare's power that was fiercely opposed by the pharmaceutical industry.

Read more: Passage of Inflation Reduction Act gives Medicare historic new powers over drug prices


Cloud stocks are rallying after a punishing start to the year as 2022 outlook brightens


Created: Sat, 13 Aug 2022 00:42:53 GMT

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Investors are again buying up cloud stocks after quarterly reports showed that demand remains strong.

Read more: Cloud stocks are rallying after a punishing start to the year as 2022 outlook brightens


This was a good week for inflation numbers, but whether it can last is the big question


Created: Fri, 12 Aug 2022 19:36:24 GMT

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With Americans already paying huge bills for food, energy and a host of other items in their daily lives, any respite is a welcome one.

Read more: This was a good week for inflation numbers, but whether it can last is the big question


Transportation Department is losing top auto safety regulator after a few months on the job


Created: Fri, 12 Aug 2022 19:16:41 GMT

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U.S. Transportation Secretary Pete Buttigieg said Steve Cliff will be leaving his role as head of the National Highway Traffic Safety Administration

Read more: Transportation Department is losing top auto safety regulator after a few months on the job


Even airline employees are having trouble finding a seat home from Europe this summer


Created: Fri, 12 Aug 2022 19:43:19 GMT

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American Airlines and United Airlines are among the carriers discouraging employees from using their travel perks to fly to Europe this summer.

Read more: Even airline employees are having trouble finding a seat home from Europe this summer


FBI search warrant reveals agents seized top-secret documents in raid of Trump's home


Created: Sat, 13 Aug 2022 01:00:42 GMT

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The FBI seized multiple sets of records marked top secret from former President Donald Trump's resort home Mar-a-Lago, a search warrant unsealed Friday shows.

Read more: FBI search warrant reveals agents seized top-secret documents in raid of Trump's home


Ron Insana: The Fed may have retired 'transitory' too soon to describe inflation


Created: Fri, 12 Aug 2022 15:27:52 GMT

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It may be time for the Federal Reserve to revive the word "transitory" after all.

Read more: Ron Insana: The Fed may have retired 'transitory' too soon to describe inflation


Fed's Barkin says rate increases need to continue until inflation holds at 2%


Created: Fri, 12 Aug 2022 15:18:20 GMT

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Despite positive data this week, Richmond Fed President Thomas Barkin said more rate increases will be needed to tamp down inflation.

Read more: Fed's Barkin says rate increases need to continue until inflation holds at 2%


House passes massive climate, tax and health bill, sending Biden a core piece of his agenda to sign


Created: Sat, 13 Aug 2022 01:05:42 GMT

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The bill's passage will mark a major win for Democrats and President Joe Biden less than three months before the pivotal midterm elections.

Read more: House passes massive climate, tax and health bill, sending Biden a core piece of his agenda to sign


DOJ plans to retry Philip Esformes despite Trump commuting sentence of Florida nursing home owner


Created: Fri, 12 Aug 2022 15:58:01 GMT

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Florida nursing homes operator Philip Esformes was one of dozens of criminal defendants who received executive clemency from President Donald Trump.

Read more: DOJ plans to retry Philip Esformes despite Trump commuting sentence of Florida nursing home owner


Samsung exec explains why the company's folding phones are so important to its business


Created: Fri, 12 Aug 2022 14:09:55 GMT

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Samsung's mobile business head said that its foldable phones are convincing consumers to switch to Samsung from other brands.

Read more: Samsung exec explains why the company's folding phones are so important to its business


Your iPhone can identify any song with just a tap. Here's how to set it up


Created: Fri, 12 Aug 2022 14:36:02 GMT

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Your iPhone can easily identify any song that's playing with just one tap. Here's how to set it up.

Read more: Your iPhone can identify any song with just a tap. Here's how to set it up


U.S. is ‘not going anywhere,’ Middle East envoy says, as China’s Xi expected to visit Saudi Arabia


Created: Sat, 13 Aug 2022 00:29:26 GMT

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The U.S. disputed claims that a forthcoming visit by Chinese President Xi Jinping to Saudi Arabia signals America's waning influence in the Middle East.

Read more: U.S. is ‘not going anywhere,’ Middle East envoy says, as China’s Xi expected to visit Saudi Arabia


26% of job switchers regret joining the Great Resignation, survey finds: 'They’ve sobered up'


Created: Fri, 12 Aug 2022 15:23:52 GMT

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Nearly 48 million Americans quit their jobs last year. Now, some are starting to have second thoughts.

Read more: 26% of job switchers regret joining the Great Resignation, survey finds: 'They’ve sobered up'


Biden senior advisor Anita Dunn has to divest investment portfolio worth between $16.8 million and $48.2 million to avoid conflicts


Created: Fri, 12 Aug 2022 15:52:21 GMT

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Dunn's financial disclosures show extensive stock, options, bond and private equity holdings — a fortune she and her husband have amassed over the years.

Read more: Biden senior advisor Anita Dunn has to divest investment portfolio worth between $16.8 million and $48.2 million to avoid conflicts


Trump faces a slew of investigations and lawsuits — and they're heating up as he weighs White House run


Created: Sat, 13 Aug 2022 00:40:29 GMT

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The Republican Trump has called the investigations into his conduct politically motivated "witch hunts" by Democratic adversaries.

Read more: Trump faces a slew of investigations and lawsuits — and they're heating up as he weighs White House run


Pharma stock investors brace for billions in heartburn drug litigation charges


Created: Fri, 12 Aug 2022 14:27:36 GMT

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For many investors and analysts, this ordeal brings back memories of the Bayer Roundup saga.

Read more: Pharma stock investors brace for billions in heartburn drug litigation charges


10-year Treasury yield ticks lower as investors assess economic data


Created: Fri, 12 Aug 2022 20:21:50 GMT

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U.S. Treasury yields were slightly lower on Friday as market participants balanced this week's inflation reports.

Read more: 10-year Treasury yield ticks lower as investors assess economic data


CDC eases Covid guidance as U.S. has more tools to fight the virus and keep people out of the hospital


Created: Fri, 12 Aug 2022 00:32:02 GMT

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The public health agency said the virus now poses a significantly lower risk due to high levels of immunity from vaccines and infections.

Read more: CDC eases Covid guidance as U.S. has more tools to fight the virus and keep people out of the hospital


Disney is raising prices, but this time, don't blame inflation


Created: Thu, 11 Aug 2022 20:08:41 GMT

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Disney is raising prices on the strength of its brand and products rather than because of inflation.

Read more: Disney is raising prices, but this time, don't blame inflation


GM reveals new GMC Canyon premium midsize pickup, starting at $40,000


Created: Thu, 11 Aug 2022 15:00:01 GMT

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GM expects to begin producing the 2023 Canyon early next year, with new AT4X off-road models beginning in spring.

Read more: GM reveals new GMC Canyon premium midsize pickup, starting at $40,000


Back-to-school shopping takes 'a major financial toll' amid high inflation. Here's how to save on supplies for the fall


Created: Thu, 11 Aug 2022 14:36:36 GMT

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Top tips to save on school supplies as back-to-school shopping takes a bigger bite of the budget this year.

Read more: Back-to-school shopping takes 'a major financial toll' amid high inflation. Here's how to save on supplies for the fall


Wholesale inflation fell 0.5% in July, in another sign that price increases are slowing


Created: Thu, 11 Aug 2022 14:07:11 GMT

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The producer price index, which gauges the prices received for final demand products, fell 0.5% from June.

Read more: Wholesale inflation fell 0.5% in July, in another sign that price increases are slowing


Short-term yields dip, 10-year Treasury yield pops after another report shows easing inflation


Created: Thu, 11 Aug 2022 20:15:55 GMT

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U.S. Treasury yields were mixed on Thursday as market participants assessed monetary policy expectations after a key report showed a slowdown in inflation.

Read more: Short-term yields dip, 10-year Treasury yield pops after another report shows easing inflation


Disney lowers longer-term forecast for Disney+ subscribers by 15 million


Created: Wed, 10 Aug 2022 23:01:34 GMT

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Disney lowered its Disney+ subscriber guidance to 215 million to 245 million by the end of fiscal 2024.

Read more: Disney lowers longer-term forecast for Disney+ subscribers by 15 million


Jim Beam maker says some customers trading down, others still paying more for high-end liquor


Created: Wed, 10 Aug 2022 18:42:27 GMT

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Some price-sensitive whiskey and tequila drinkers are swapping out their high-end bottles for cheaper options, according to Beam Suntory.

Read more: Jim Beam maker says some customers trading down, others still paying more for high-end liquor


FCC denies SpaceX bid for nearly $1 billion in rural broadband subsidies for Starlink


Created: Wed, 10 Aug 2022 21:46:32 GMT

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The FCC said Starlink "failed to demonstrate that the providers could deliver the promised service" needed to receive the subsidies.

Read more: FCC denies SpaceX bid for nearly $1 billion in rural broadband subsidies for Starlink


The easing of inflation pressures is giving the economy some breathing room, for now


Created: Fri, 12 Aug 2022 11:28:52 GMT

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If inflation has been the biggest threat to U.S. economic growth, then July's data should provide signs that there's at least some relief in the pipeline.

Read more: The easing of inflation pressures is giving the economy some breathing room, for now


Ford CEO doesn't expect electric vehicle battery costs to drop anytime soon


Created: Thu, 11 Aug 2022 02:09:51 GMT

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Ford CEO Jim Farley said the prices of key battery minerals will likely stay elevated for a while, but the company is looking into alternatives.

Read more: Ford CEO doesn't expect electric vehicle battery costs to drop anytime soon


How the EV tax credits in Democrats' climate bill could hurt electric vehicle sales


Created: Wed, 10 Aug 2022 19:09:23 GMT

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Proposed tax credits of up to $7,500 for EVs under the Inflation Reduction Act could be counterintuitive for sales of EVs, according to several companies.

Read more: How the EV tax credits in Democrats' climate bill could hurt electric vehicle sales

 
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