Retail sales dipped 0.4% in February after buying burst in January
The February retail sales figure was weighed down by a 1.8% drop in auto sales as well as declines at restaurants and stores selling furniture and clothing.
Associated Press
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U.S. wholesale inflation slows on easing food costs
A significant driver of last month’s wholesale inflation slowdown was a huge drop in the prices of eggs, which plummeted 36.1% just in February. Egg prices had previously surged after a widespread outbreak of avian flu.
Colts planning to release QB Matt Ryan in cap move, source says
By releasing the 37-year-old Ryan, the Indianapolis Colts will save about $17.2 million in salary cap space next season.
A bigger March Madness? Many obstacles stand in the way
For the first time in more than a decade, NCAA and college sports leaders are committed to a serious examination of increasing the number of teams allowed to compete in an event that has become one of the crown jewels of American sports.
Inflation eases but stays high, putting Fed in tough spot
Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week.
Following Lilly’s lead, Novo Nordisk plans insulin price cuts
Novo Nordisk will start slashing some U.S. insulin prices up to 75% next year, following a path set earlier this month by rival Eli Lilly and Co.
EPA to limit toxic ‘forever chemicals’ in drinking water
The plan marks the first time the EPA has proposed regulating the toxic group of compounds, which are widespread, dangerous and expensive to remove from water.
Facebook parent Meta slashing another 10,000 jobs
Meta previously announced 11,000 job cuts in November, about 13% of its workforce at the time.
Government races to reassure U.S. that banking system is safe
In response to the crisis, regulators guaranteed all deposits at the two failed banks and created a program that effectively threw a lifeline to other banks to shield them from a run on deposits.
Illinois enacts mandatory paid leave ‘for any reason’
Proponents say paid leave is key to making sure vulnerable workers can take time off when needed without fear of reprisal. Critics say the law will overburden small businesses already struggling amid high inflation.
Biden tells U.S. to have confidence in banks after two collapse
President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.
Indiana’s unemployment rate unchanged in January
Indiana saw gains in the construction; leisure and hospitality; private educational and health services; trade, transportation and utilities; and professional and business service sectors.
U.S. government moves to stop potential banking crisis
In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed and was being seized on Sunday.
Ex-Indiana congressman Buyer convicted of illegal stock purchases
The verdict against Steve Buyer, a Republican lawyer who served in Congress from 1993 to 2011, was returned after a jury heard evidence about stock purchases he made after he became a consultant and lobbyist.
‘It’s hard to focus’: Schools say American kids are hungry
School cafeterias typically don’t turn away a hungry kid, but debts for unpaid school meals have been rising—showing the level of need, and raising questions about how schools will keep feeding everyone, without federal money to do it.
Silicon Valley Bank seized by FDIC as depositors pull cash
The bank failed after depositors—mostly technology workers and venture capital-backed companies—began withdrawing their money and created a run on the bank.
Only small fraction of children needing tutoring help receive it
As America’s schools confront dramatic learning setbacks caused by the pandemic, experts have held up intensive tutoring as the single best antidote. Yet, only a small fraction have received it.
U.S. adds robust 311,000 jobs despite Fed’s rate hikes
Nearly all of last month’s hiring occurred in services industries—from restaurants and hotels to retailers and health care companies.
Railroad group warns that car flaw could cause derailments
U.S. railroads were warned to take certain cars out of service Thursday after Norfolk Southern discovered loose wheels on a car involved in last weekend’s derailment in Springfield, Ohio.
Business backlash pushing GOP to weaken anti-ESG proposals
Conservative Republicans who want to thwart socially and environmentally conscious investing are now being pushed to water down their proposals by backlash from powerful business groups and fears that state pension systems could see huge losses.