Inflation gauge ticks higher with price pressures still stubborn
Consumer prices rose 2.3% in October from a year earlier. That’s up from 2.1% in September, although it’s still only modestly above the Fed’s 2% target.
Associated Press
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U.S. economy grew at 2.8% pace in third quarter on strong consumer spending
Within the GDP data, a category that measures the economy’s underlying strength rose at a solid 3.2% annual rate from July through September, up from 2.7% in the April-June quarter.
After fast start, electric cars need a recharge as range limits, cost leave some drivers skeptical
Adding to the headwinds: an incoming new U.S. president who has disparaged government support for electric vehicles.
Trump fills out his economic team with two veterans of his first administration
Trump on Tuesday announced he has chosen international trade attorney Jamieson Greer to be his U.S. trade representative and Kevin Hassett as director of the White House National Economic Council.
U.S. consumer confidence ticks higher on better outlook for hiring
The Conference Board doesn’t break out its responses by party, but another measure of consumer sentiment by the University of Michigan showed that optimism about the economy jumped among Republicans after the election.
Federal Reserve officials signal cautious path for rate cuts amid still-high inflation
Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting.
Small business owners breathe easier over labor costs after decision to strike down overtime rule
On Nov. 15, a federal judge in Texas blocked a new rule from the Biden administration that would have expanded access to overtime pay to millions more salaried workers across the U.S.
Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in office
The tariffs, if implemented, could dramatically raise prices on everything from automobiles to agricultural products. It is unclear whether Trump will actually go through with the threats or if he’s using them as a negotiating tactic.
Thousands of Microsoft 365 users report outage issues
Microsoft shared at midday Monday hat it was deploying a fix, but the company later noted that targeted restarts were taking slower than expected for the majority of affected users.
‘Busiest Thanksgiving ever’: How TSA plans to handle record air travel
The TSA says it will will have enough screeners to keep general security lines under 30 minutes. But there could be delays related to an FAA staffing shortage.
Macy’s says employee hid up to $154M in expenses, delays Q3 earnings
The retailer said Monday that it identified an issue related to delivery expenses in one of its accrual accounts earlier this month.
Charlotte airport workers strike at outset of busy Thanksgiving travel week
Workers describe living paycheck to paycheck, unable to cover expenses like car repairs while performing jobs that keep countless planes running on schedule.
Rising price of paying national debt complicates Trump’s promises on growth, inflation
Not only is the federal debt at roughly $36 trillion, but the spike in inflation after the coronavirus pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security.
Caitlin Clark to join Cincinnati bid for 16th National Women’s Soccer League team
Major League Soccer’s FC Cincinnati heads the group trying to bring a women’s pro team to the city.
Supreme Court allows multibillion-dollar class action to proceed against Meta
The justices heard arguments in November in Meta’s bid to shut down the lawsuit. On Friday, they decided that they were wrong to take up the case in the first place.
DirecTV calls off acquisition of rival Dish
DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt.
F1 closer to approving expanded grid for GM entry initially started by Michael Andretti
With a restructuring at Indianapolis-based Andretti Global that pushed Michael Andretti into a smaller role, the chances of his organization landing a Formula 1 team have substantially increased.
Airline CEOs, Buttigieg fight over regulations even after election
The Biden administration is on its way out of power, but that’s not ending the arguments between Transportation Secretary Pete Buttigieg and airlines that think they are being over-regulated.
Verdict in trademark case could be legal test for sports merchandising
At least a dozen schools have sued the defendants over their use of vintage sports logos and images, including Purdue University, Stanford and UCLA.
Regulators seek to break up Google, forcing Chrome sale as part of monopoly punishment
The proposed breakup filed late Wednesday by the U.S. Department of Justice calls for sweeping punishments that would include a sale of Google’s industry-leading Chrome web browser.