Inflation showed further signs of cooling on Friday as Wall Street starts to price in further interest rate cuts by the Federal Reserve. The personal consumption expenditures price index (PCE), the Fed’s preferred measure of inflation, showed that the rate at which prices rose for goods and services last month was 2.2% — below economists’ … Read more
WASHINGTON — Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. The former president and current Republican nominee asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices … Read more
HONG KONG — Stocks in Asia advanced on Friday, led by gains in Hong Kong and other Chinese markets fueled by China’s moves to rev up its economy. Japan’s Nikkei 225 index was up more than 1% as the ruling Liberal Democratic Party conducted a leadership election that will determine who is Japan’s next prime … Read more
BEIJING — Australian Treasurer Jim Chalmers on Friday welcomed Chinese efforts to stimulate its slowing economy, noting that its recent weakness has hurt Australia. Chalmers was wrapping up a two-day visit to Beijing, the first to China by an Australian treasurer in seven years, as strained bilateral relations mend. He told reporters that Australia’s economy … Read more
LONDON — British supermodel Naomi Campbell has been barred from being a charity trustee in England and Wales for five years after the poverty charity she founded nearly two decades ago was deemed Thursday to have been “poorly governed” with “inadequate financial management.” Following a three-year investigation into the financial activities of “Fashion for Relief,” … Read more
The number of Americans applying for unemployment benefits last week fell to the lowest level in four months. The Labor Department reported Thursday that applications for jobless claims fell by 4,000 to 218,000 for the week of Sept. 21. It was the fewest since mid-May and less than the 224,000 analysts were expecting. Last week’s … Read more
Home Depot was about to launch something big — really big — when the pandemic hit in the spring of 2020: a 12-foot skeleton. “There were a lot of internal discussions. It was like, is there going to be Halloween this year?” said Lance Allen, senior merchant of decorative holiday at Home Depot. “Are customers … Read more
WASHINGTON — A network of people and virtual currency exchanges associated with harboring Russian cybercrime were hit with sanctions on Thursday, in a government-wide crackdown on cybercrime that could assist Russia ahead of President Joe Biden’s meeting with Ukrainian President Volodymyr Zelenskyy. U.S. Treasury sanctioned alleged Russian hacker Sergey Ivanov and Cryptex — a St. … Read more
SKOPJE, North Macedonia — North Macedonia’s conservative prime minister has reacted angrily to reports that his country’s troubled European Union accession bid hit a new hurdle because of a dispute with neighboring EU member Bulgaria. Prime Minister Hristijan Mickoski said Thursday that the EU was trying to “dictate” what North Macedonia should do, and suggested … Read more
DETROIT — With a strike deadline looming, the group representing East and Gulf Coast ports is asking a federal agency to make the Longshoremen’s union come to the bargaining table to negotiate a new contract. The U.S. Maritime Alliance says it filed an unfair labor practice charge with the National Labor Relations Board alleging that … Read more