Facing tough midterms, Biden releasing oil from U.S. reserve
The withdrawals have sent the nation’s strategic reserve to its lowest level since 1984 in what the administration called a “bridge” until domestic production could be increased.
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EPA: UPS to pay fine, correct hazardous waste violations
The company has three years to reach compliance across 1,160 locations and will pay a civil penalty of $5.3 million.
COVID-19 linked to increase in U.S. pregnancy-related deaths
The percentage of preterm and low birthweight babies also went up last year, after holding steady for years. And more pregnant or postpartum women are reporting symptoms of depression.
US awards $2.8B in grants for EV batteries in 12 states
A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals, officials said.
Spirit Airlines shareholders approve $3.8B sale to JetBlue
JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. But the deal could still face a challenge from federal antitrust regulators.
Gates Foundation donates $1B to prioritize math education
The increased focus on math comes after the pandemic “wreaked havoc” on learning in secondary schools, and widened gaps based on race in student performance, with math scores among Black students falling more sharply than declines among white students.
Enrollment gains help Elevance Health top quarterly forecasts
The Indianapolis-based Blue Cross-Blue Shield insurer said Wednesday that enrollment in Medicaid, a state and federally funded program for people with low incomes, climbed nearly 9% in the quarter, to 11.3 million.
IRS increases standard deductions, tax brackets due to inflation
Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation.
Judge dismisses FedEx from Indianapolis shooting lawsuit
The lawsuit was filed by relatives of five of the eight people who were fatally shot last year at an Indianapolis warehouse by a former employee of the shipping giant.
USDA announces $1.3 billion debt relief for 36,000 farmers
The federal government announced Tuesday a program that will help farmers who have fallen behind on loan payments or face foreclosure.
Colts owner Irsay says there’s ‘merit to remove’ Snyder
The Washington Commanders released a statement saying the Snyders will not sell the team. The statement called Jim Irsay’s comments “highly inappropriate.”
U.S. businesses propose hiding trade data used to trace abuse
A group of major U.S. businesses wants the government to hide key import data—a move trade experts say would make it more difficult for Americans to link the products they buy to labor abuse overseas.
Pence emerges as appealing draw for some GOP candidates
Although he has been denounced by former President Trump, Mike Pence has been traveling the country, holding events and raising millions for candidates and Republican groups.
Retail sales flat in September as inflation takes bite
Evidence that the Fed’s fight to cool the economy might be taking hold can also be seen, particularly with big-ticket items. Sales at auto dealers fell 0.4% last month, and shoppers continued to pull back on appliances, electronics and furniture.
Netflix sets $7 monthly price for its ad-supported service
Netflix’s 15-year-old streaming service has until now been commercial free, but the Los Gatos, California, company decided to head in a new direction six months ago after reporting its first loss in subscribers in more than a decade.
IRS wants millions to claim child tax credit, stimulus funds
The government said some families might be leaving up to $3,600 per child unclaimed, as well as other payments owed to them.
Ohio offers $156M in incentives for Honda battery plant
Honda had also considered Indiana for the $3.5 billion plant, which is expected to employ 2,200 people when completed.
Social Security benefits to jump by 8.7% next year
The cost-of living adjustment—the largest in more than 40 years—means the average recipient will receive more than $140 extra a month beginning in January, the Social Security Administration said Thursday.
U.S. clears updated COVID boosters for children as young as 5
The FDA cleared the COVID-19 booster tweaks without requiring human test results—just like it approves yearly changes to flu vaccines.
ACT test scores drop to lowest in 30 years in pandemic slide
An increasing number of high school students failed to meet any of the subject-area benchmarks set by the ACT—showing a decline in preparedness for college-level coursework.