Powell says Fed stands ready to respond to trade conflicts

Business 06/04/19, 09:41

Chairman Jerome Powell said Tuesday that the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economic expansion if it decides that would be necessary. Powell's comments came at a conference in Chicago on how the central bank can make its interest rate policy ...

Nonprofits turn to cryptocurrency to help needy Venezuelans

America 05/21/19, 23:00

Andreina Cordero started the year skipping meals so her three kids could eat. Her husband, a construction worker, was out of a job. And the family's savings had been devastated by the nation's hyperinflation, limiting Cordero's children to a diet of rice, beans, pasta and fried corn patties.But the family ...

Eurozone inflation ticks up in hopeful sign for central bank

Europe 05/03/19, 04:40

Inflation rose in April in the 19-country eurozone, at first glance an encouraging sign for the European Central Bank in its struggle to sustainably raise prices.The European Union's statistics agency Eurostat said Friday that annual inflation rose to 1.7% in April from 1.4% in March. Core inflation, which excludes volatile ...

Asian stocks mixed as Fed steers clear of signaling rate cut

Business 05/02/19, 01:52

Asian stocks were mixed on Thursday after the U.S. Federal Reserve kept its benchmark interest rate intact and steered clear of suggesting that a cut was possible this year. Trading was light with markets in Japan and mainland China closed.Hong Kong's Hang Seng rose 0.6% to 29,882.20 while Australia's S&P ...

Fed seen as sure to leave rates alone despite Trump pressure

Business 04/30/19, 23:56

The Federal Reserve is all but sure to keep interest rates on hold Wednesday — and for the foreseeable future — even as President Donald Trump keeps up his attacks on the Fed for not cutting rates. The Fed will likely reiterate a message that has reassured consumers and investors since ...

Money games: Revised LA Olympics budget nearly $7 billion

Sports 04/30/19, 08:41

The price tag on the Los Angeles 2028 Olympics is now $6.88 billion, a $1.36 billion increase that comes mainly because of accounting measures designed to better reflect inflation over the long lead-up to those games.Most key numbers the organizing committee released Tuesday are essentially the same as those in ...

Fed likely to underscore a message: No rates hikes in 2019

Business 04/29/19, 10:26

The Federal Reserve this week will likely reinforce a theme that has cheered consumers and investors since the start of the year: No interest rates hikes are likely anytime soon. The prospect of continued low rates is keeping borrowing costs low for households and companies. It is helping drive record highs ...

US consumer spending surges 0.9% in March

Business 04/29/19, 08:15

U.S. consumer spending surged 0.9% in March, the biggest gain in nearly a decade, as inflation pressures remain non-existent.The March gain was the biggest monthly increase since August 2009, the Commerce Department reported Monday. That's a marked improvement after three months of lackluster readings in this key segment of the ...

Argentina to freeze prices of goods in bid to tame inflation

America 04/17/19, 16:09

Argentina's government is freezing the prices of 60 essential products and some services in a bid to tame spiraling inflation.President Mauricio Macri announced Wednesday that the goods affected include flour, oil, rice and personal hygiene items. He also said prices for services such as telephone plans will not be raised.Macri ...

US consumer prices rose 0.4% in March on higher gas costs

Business 04/10/19, 10:46

U.S. consumer prices climbed 0.4% in March, an increase caused mostly by higher costs for gasoline, electricity and shelter. The Labor Department said Wednesday that the consumer price index rose a healthy 1.9% last month from a year ago, a sharp jump from the annual pace of 1.5% in February. Inflation has ...

India’s central bank cuts lending rate to 6%

Business 04/04/19, 06:20

India's central bank cut its key interest rate by a quarter of a percentage point to 6% on Thursday, moving to prop up economic growth ahead of a national election next week.The interest rate is what the federal bank charges on lending to commercial banks.Lower interest rates help borrowers, though ...

Eurozone economy gets double dose of bad news

Business 04/01/19, 04:38

The eurozone economy received a double dose of bad news Monday as inflation fell further away from the European Central Bank's target and a closely monitored survey showed the crucial manufacturing sector shrinking at its fastest rate in six years.The developments suggest Europe is struggling to cope with global trade ...

Homelessness rises in Argentina’s capital amid crisis

America 03/29/19, 00:04

A smiling two-year-old Valentina Aleman runs down a sidewalk in Buenos Aires, dodging cardboard boxes, a worn-out sofa and a broken refrigerator without noticing the cars zooming dangerously close to her and others risks of living on the streets.A makeshift tent of cardboard and plastic bags on the side of ...

US wholesale prices ticked up 0.1 percent in February

Business 03/13/19, 07:48

U.S. wholesale prices barely increased last month after falling for three straight months, a sign there is little inflation pressure in the economy.The producer price index — which measures price changes before they reach the consumer — rose 0.1 percent in February, the Labor Department said Wednesday. It slipped 0.1 ...

As polls loom, Erdogan offers struggling Turks cheaper veg

Europe 02/22/19, 06:13

The government of Turkish President Recep Tayyip Erdogan is offering cheaper vegetables to help people with soaring inflation and as he looks to shore up support for local elections next month.The government has set up dozens of stalls in at least six cities where produce is sold at almost half ...

US says airfares hit new lows after factoring inflation

Business 02/21/19, 14:54

The average fare for airline travel within the United States has hit the lowest level since the government started keeping track in 1995, after adjusting for inflation.However, that doesn't count fees that airlines add for things like checking a bag, getting a better seat, or moving up in the boarding ...

US wholesale prices dip 0.1 percent in January

Business 02/14/19, 08:55

U.S. wholesale prices fell for a second straight month in January as energy costs fell sharply again. The monthly declines were more evidence that inflation remains under control.The Labor Department said Thursday that producer prices, which track changes before they reach the consumer, dipped 0.1 percent in January, matching the ...

US consumer prices flat in January

Business 02/13/19, 08:39

Consumer prices were unchanged in January, as lower gasoline prices offset the rising costs of housing, clothing and medical care.The Labor Department said the consumer price index rose only 1.6 percent last month from a year earlier.Inflation has been tempered by a 10.1 percent plunge over the past 12 months ...

Analysis: $15 minimum wage no windfall for Illinois workers

U.S. 02/12/19, 17:55

Nearly a quarter of workers in Illinois would see their pay almost double under a proposal nearing final approval in the Legislature, but inflation will take a huge bite by the time the state's minimum wage reaches $15 an hour in 2025.The statewide pay floor has remained at $8.25 since ...

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