Fed Chair Powell says the US economy is in ‘solid shape’ with more rate cuts coming

Fed Chair Powell says the US economy is in ‘solid shape’ with more rate cuts coming

WASHINGTON — Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline, though their size and speed would depend on the evolution of the economy. Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction … Read more

US economy set to lose billions of dollars a day as strike threatens major ports on East, Gulf coasts

US economy set to lose billions of dollars a day as strike threatens major ports on East, Gulf coasts

The US economy is poised to lose billions of dollars a day starting Tuesday as a potentially crippling strike threatens nearly half of the nation’s busiest ports as longshoremen and management have failed to reach a deal on a new collective bargaining agreement. The International Longshoremen’s Association, which represents some 85,000 dockworkers at ports along … Read more

Thousands of Verizon users report service outage as phones are stuck in SOS mode

Thousands of Verizon users report service outage as phones are stuck in SOS mode

Verizon users across the country reported service outages Monday morning after the network experienced “an issue,” a company spokesperson told The Post.  Downdetector.com – which provides real-time updates on Internet and phone services – experienced a spike in reports of Verizon outages around 10 a.m. There were more than 100,000 reported incidents at 11 a.m. … Read more

Second IT system ‘likely’ to have caused shortfalls

Second IT system ‘likely’ to have caused shortfalls

An accounting system used by Post Office sub-postmasters before the controversial Horizon software was introduced is likely to have also been faulty, an investigation has found. A report said “there was a reasonable likelihood” that the IT system, called Capture, could have created cash shortfalls in accounts. Capture was used in branches from 1992 to … Read more