Consumer price growth in July slowed to its lowest post-pandemic level, a sign that the surging inflation that has gripped the U.S. economy is finally ebbing. On a 12-month basis, the Consumer Price Index (CPI)…
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Grocery price growth, once the scourge of the post-pandemic inflation surge, has finally settled down. On Wednesday, the Bureau of Labor Statistics reported that food-at-home prices increased 1.1% year-on-year — the ninth-straight month of sub-2%…
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Business
FTC bans fake online reviews, inflated social media influence; rule takes effect in October
The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, like those generated with AI technology, and other misleading practices to promote their products and services. All five FTC commissioners voted to adopt the…
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Walmart remains cautious about the financial health of its shoppers, but executives at the retail giant do not see a full-blown downturn on the horizon. In an interview with CNBC, Walmart Chief Financial Officer John…
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United Airlines CEO Scott Kirby says he is optimistic about Boeing’s recovery after meeting with the manufacturer’s new chief executive. It’s an upbeat change of tune from the head of United, a top Boeing customer that has been…
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Business
Mortgage refinancing surges 35% in one week as interest rates hit lowest level in over a year
It appears to have taken a few weeks for current homeowners to realize mortgage rates had dropped dramatically. And when they did, they acted. Applications to refinance a home loan surged 35% last week, compared with the…
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The last operating public hospital in Sudan’s North Darfur state is at risk of closure, Doctors Without Borders (MSF) warned Wednesday, amid fierce fighting between the country’s rival military factions that have left more than…
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German authorities have issued an international arrest warrant for a Ukrainian man suspected of carrying out the explosions that damaged the Nord Stream gas pipeline two years ago. The explosions left gas billowing from Nord…
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Toomaj Salehi, the Iranian dissident rapper who escaped the death penalty earlier this summer has been cleared entirely of the original charges by a lower court in Isfahan, central Iran. Salehi became a key voice of…
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A German military base near the western city of Cologne was temporarily closed on Wednesday as authorities investigated the possible sabotage of water supplies. The Cologne-Wahn barracks employs around 5,500 people, including 4,300 soldiers and…