U.S. to release $45B for nationwide internet access
The goal is to have states lay out a five-year timeline to provide full internet access, while ensuring affordable internet access and promoting competition among providers.
Associated Press
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Musk says $44B Twitter acquisition ‘temporarily on hold’
Elon Musk’s concern about spam and fake accounts on the social media platform represents yet another twist amid signs of internal turmoil over the proposed acquisition.
Powell: ‘Soft’ economic landing might be out of Fed’s control
Federal Reserve Chair Jerome Powell, fresh off winning confirmation for a second term, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.
White House warning: U.S. ‘vulnerable’ to COVID without new shots
White House COVID-19 coordinator Dr. Ashish Jha issued a dire warning Thursday that the U.S. will be increasingly vulnerable to the coronavirus this fall and winter if Congress doesn’t swiftly approve new funding for more vaccines and treatments.
Senate confirms Powell for second term as Federal Reserve chief
The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp interest rate hikes that could extend well into next year. The Fed’s goal is to slow borrowing and spending enough to ease the inflation pressures.
Average long-term U.S. mortgage rates edge up to 5.3%
Average long-term U.S. mortgage rates are continuing to rise, with interest on the key 30-year loan at its highest level since 2009.
Mercedes tells owners of 292K vehicles to stop driving them
Mercedes-Benz said the vehicles in question have a problem that could cause the brakes to fail.
Biden cancels offshore oil lease sales in Gulf Coast, Alaska
The Biden administration says it is canceling three oil and gas lease sales, removing millions of acres from possible drilling as U.S. gas prices reach record highs.
Crypto comes to Washington. Will the millions buy influence?
Cryptocurrency tycoons are emerging as political power players. They are pouring millions of dollars into elections as they try to gain influence over members of Congress who will write laws governing their industry.
U.S. casinos had best month ever in March, winning $5.3B
The casinos collectively also had their best first quarter ever, falling just short of the $14.35 billion they won from gamblers in the fourth quarter of last year, which was the highest three-month period in history.
Senate bid to save Roe v. Wade falls to GOP-led filibuster
Some Republicans argued that the House-passed bill is more extreme than Roe, and would expand abortion access beyond what is already the law.
U.S. inflation hit 8.3% last month, down slightly from 40-year high
Still, Wednesday’s report contained some cautionary signs that inflation may be becoming more entrenched. Excluding the volatile food and energy categories, so-called core prices jumped 0.6% from March to April—twice the 0.3% rise from February to March.
High inflation leaves food banks struggling to meet needs
Food banks across America say negative economic conditions are intensifying demand for their support at a time when their labor and distribution costs are climbing and donations are slowing.
Kohl’s shareholders reject board nominees pushed by activist that urges sale
The department store said Wednesday that shareholders have voted to re-elect all 13 of its director nominees, according to a preliminary tally at its shareholders’ meeting.
Drivers bemoan high gasoline prices with no relief in sight
President Joe Biden released oil from the Strategic Petroleum Reserve in November and March, hoping to reduce prices. That helped temporarily, but prices shot back up and have stayed stubbornly high.
NIL expert predicts $50,000 minimum pay for Power 5 players
The increasing dollar amounts available to college athletes through the recent formation of collectives has drawn the attention of the NCAA, which this week released guidance for schools in the hopes of maintaining the original intent of NIL compensation.
Virginia rescinds job offer to former Indiana BMV chief Lacy
A former Indiana official had been set to take a job leading Virginia’s Department of Motor Vehicles, but that plan fell apart Tuesday after a newspaper reported allegations that the official had behaved inappropriately at work.
TSA expanding use of screeners to help at busy airports
The chief of the Transportation Security Administration said Tuesday that his agency has quadrupled the number of employees who could bolster screening operations at airports that become too crowded this summer.
Pandemic gets tougher to track as COVID testing plunges
Experts say testing has dropped by 70% to 90% worldwide from the first quarter to the second quarter this year—the opposite of what they say should be happening with new omicron variants on the rise in places such as the United States and South Africa.
‘ManningCast’ comes to golf as PGA gets alternate telecast
ESPN is collaborating with Peyton Manning’s Omaha Productions for the alternate telecast during the PGA Championship.