Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next WASHINGTON — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut … Read more
The purchase of Alex Jones ‘ Infowars at a bankruptcy auction by the satirical news publication The Onion is the latest twist in a yearslong saga between the far-right conspiracy theorist and families of Sandy Hook Elementary School shooting victims. The sale was ordered after relatives of many of the 20 children and six educators … Read more
MINNEAPOLIS — Smithfield Foods, one of the nation’s largest meat processors, has agreed to pay $2 million to resolve allegations of child labor violations at a plant in Minnesota, officials announced Thursday. An investigation by the Minnesota Department of Labor and Industry found that the Smithfield Packaged Meats subsidiary employed at least 11 children at … Read more
Reuters Chancellor Rachel Reeves says she wants pension schemes to “fire up the economy” Plans for a major shake-up of pension funds have been announced by the chancellor, Rachel Reeves. She wants to create pension “megafunds” by merging the UK’s 86 council schemes, using the set-up in Canada and Australia as a model. Other proposals … Read more
Getty Images The UK must “rebuild relations” with the EU “while respecting the decision of the British people” who voted to leave in 2016, the Bank of England’s governor will say later. Andrew Bailey’s Mansion House speech to investors will mark some of his strongest comments yet on Brexit, saying one of its consequences has … Read more
Advance Auto Parts said Thursday it will close about 500 stores by mid-2025 and cut some jobs under a restructuring effort, as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars. Shares of the auto parts retailer were up about 2% despite also reporting a surprise third-quarter adjusted loss of 4 cents per share. Analysts on average were expecting a profit of 49 … Read more
Bluesky, a social media microblogging app reminiscent of rivals X and Threads, has welcomed 1.25 million new users to its platform in the week since the US election. Some of the new users switched to Bluesky to boycott X over billionaire owner Elon Musk’s allegiance to President-elect Donald Trump, according to posts on the app. … Read more
Ice cream brand Ben & Jerry’s said in a lawsuit filed Wednesday that parent company Unilever has silenced its attempts to express support for Palestinian refugees and threatened to dismantle its board and sue its members over the issue. The lawsuit is the latest sign of the long-simmering tensions between Ben & Jerry’s and consumer products maker Unilever. A rift erupted between … Read more
The FBI’s shocking predawn raid against the founder of election gambling site Polymarket was part of a criminal probe into whether the startup accepted bets from US users — which would violate a deal the company had made with the government, The Post has learned. The Department of Justice ordered Wednesday’s “court-authorized law enforcement activity” … Read more
HELSINKI — Latvian police said Thursday that criminal proceedings have been initiated against two Lithuanian citizens suspected of counterfeiting Ariel laundry detergent products and distributing them in significant quantities across Europe as part of an organized international crime venture. In November 2023, Latvian police, in cooperation with tax and customs officials, uncovered a large-scale operation … Read more