U.S. economic growth for last quarter revised up to 3% annual rate
The Commerce Department had previously estimated that the nation’s gross domestic product—the total output of goods and services—expanded at a 2.8% rate from April through June.
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Supreme Court rebuffs Biden administration plea to restore multibillion-dollar student debt plan
Cost estimates of the new Saving on a Valuable Education plan vary from $276 billion to $475 billion over 10 years.
Sweaty corn making Midwest even more humid
Farmers are also planting more acres of corn, in part to meet demand for ethanol, which means more plants working harder to stay cool — pumping out humidity that adds to steamy misery like that blanketing much of the U.S. this week.
GM delays Indiana EV battery factory, but finalizes joint venture deal with Samsung
The companies finalized their agreement Tuesday to jointly run the new factory in New Carlisle, Indiana, near South Bend, but said production would not start next year as originally planned.
NFL owners OK private equity stakes in teams of up to 10%
NFL owners for the first time have opened their teams to institutional investment after previously prohibiting it.
Lowe’s changes some DEI policies in wake of high court decision
The home improvement chain joined the ranks of several other companies that have altered their programs after the U.S. Supreme Court outlawed affirmative action in college admissions.
Kroger, Albertsons defend merger plan in federal court against regulators
The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices.
Zuckerberg says White House pressured Facebook over COVID-19 content during pandemic
Meta CEO Mark Zuckerberg also said he would no longer donate money to widen election access for voters after dishing out more than $400 million for that purpose in 2020.
Traveling over Labor Day weekend? Have a back-up plan, and be patient.
Airports, highways, beaches and theme parks are all expected to be packed for the long holiday weekend.
Will Power in IndyCar championship fight, not even considering retirement
Although four drivers remain mathematically eligible to win the title, it’s really down to Alex Palou and Power as each is seeking a third IndyCar championship.
Lilly Endowment to give $100M grant to National Park Foundation
The park foundation described the gift on Monday as the largest grant in history benefiting the U.S.’s national parks. The money will be used to address the needs of the country’s more than 400 national park sites.
Diamond Sports set to continue broadcasting NBA games through upcoming season
The largest broadcaster of regional sports networks across the country will continue to televise games for more than a dozen NBA teams and nine NHL teams—including the Indiana Pacers—through their 2024-2025 season even as it moves through bankruptcy proceedings.
Kroger, Albertsons hope to merge but must face skeptical government in court first
Starting Monday, a federal district court judge in Portland, Oregon, will consider both sides and decide whether to grant the FTC’s request for a preliminary injunction.
Fed leader Powell: ‘The time has come’ for Fed to begin reducing interest rates
Federal Reserve Chair Jerome Powell emphasized that inflation, after the worst price spike in four decades inflicted pain on millions of households, appears largely under control.
FDA approves updated COVID-19 vaccines; shots should be available in days
With the Food and Drug Administration’s clearance, Pfizer and Moderna are set to begin shipping millions of doses.
Average rate on a 30-year mortgage eases to 6.46%, the lowest level in 15 months
The recent pullback in mortgage rates overall has sparked a pickup in applications for home refinancing loans, which are 23% higher than a month ago, according to the Mortgage Bankers Association.
UPDATE: Labor dispute stops Canadian freight railroads, could cause major economic disruption in U.S.
Billions of dollars of goods each month move between Canada and the U.S. via rail, according to the U.S. Department of Transportation.
Price of gold reaches record high. Here’s why.
Interest in buying gold often comes at times of uncertainty—with potential concerns about inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money.
Fed minutes: Most officials favor rate cut in September if inflation cools
Further guidance on the Fed’s next steps is expected when Chair Jerome Powell gives a highly anticipated speech Friday morning at the annual symposium of central bankers in Jackson Hole, Wyoming.
Tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline
Consumers are still spending, but they’re being selective about where they make purchases when the costs of housing, food and other essentials remain inflated.