Meyer Shank Racing extends Marcus Armstrong’s contract after strong season
In his first year in the No. 66, Armstrong has logged 10 top-10 finishes and podiumed at Iowa Speedway. It was just the second podium of his IndyCar career.
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MSNBC to change name as part of corporate divorce from NBC
The name change was ordered by NBC Universal, which last November spun off cable networks USA, CNBC, MSNBC, E! Entertainment, Oxygen and the Golf Channel into its own company, called Versant.
UPDATE: Strike by 10,000 Air Canada flight attendants declared illegal
The strike at Canada’s largest airline entered its third day on Monday and is affecting about 130,000 travelers per day during the peak summer travel season
Indy-based NCAA fines Michigan football millions, coach suspended in sign-stealing scandal
The Indianapolis-based NCAA fined Michigan tens of millions of dollars Friday and suspended coach Sherrone Moore for three games for a sign-stealing scandal that has loomed over the program for nearly two years.
Retail sales rise 0.5% in July as some shoppers step up purchases ahead of tariffs
However, at electronics stores, sales were down 0.6%. And business at restaurants, the lone services component within the Census Bureau report and a barometer of discretionary spending, fell 0.4%.
Judge strikes down Trump administration guidance against diversity programs at schools and colleges
The guidance has been on hold since April when three federal judges blocked various portions of the Education Department’s anti-DEI measures.
Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
Seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high.
Average rate on a 30-year mortgage drops to lowest level since October
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Taylor Swift’s economic pull makes orange the new green for big brands
Numerous corporations, from United Airlines to Olive Garden, began posting orange hued memes on their own social media accounts soon after the new album was announced.
US producer prices surge in July as Trump tariffs push costs higher
U.S. wholesale inflation surged unexpectedly last month, signaling that the president’s sweeping import taxes are pushing costs up and that higher prices for consumers may be on the way.
Social Security’s 90th anniversary marked by funding threats, privatization talk
Trump and other Republicans have said they will not cut Social Security benefits, yet the program remains far from the sound economic system that FDR envisioned 90 years ago.
GE Appliances shifts more production to US as part of a $3 billion investment
The majority of GE Appliances’ production is already in the U.S. and the shift means only that the company will transfer more work to its domestic plants.
Why many Americans are rethinking alcohol, according to a new Gallup poll
CNBC reported earlier this year that non-alcoholic beer sales were expected to surpass ale as the second-largest beer category worldwide. Retail sales for non-alcoholic beer surpassed $17 billion in 2023.
Trump’s nominee to oversee jobs and inflation data faces shower of criticism
E.J. Antoni’s selection threatens to bring a new level of politicization to what has long been a nonpartisan agency widely accepted as a producer of reliable measures of the nation’s economic health
Homeowners turn to cash-out refinancing to take advantage of big gains in home equity
Cash-out refinances, in which homeowners take out a loan for more than they owe on their mortgage and pockets the difference, accounted for roughly 60% of all home loan refis in the second quarter.
Amazon expands its perishable delivery service, putting pressure on traditional grocers
The move marks one of the most significant grocery expansions for the online retailer as Amazon introduces thousands of perishable food items into its existing logistics network.
Spirit Airlines sounds the alarm on its future ability to stay in business
Spirit—which flies to eight cities from Indianapolis—pointed to “adverse market conditions” that it’s continued to face after a recent restructuring and other efforts to revive its business.
US national debt reaches a record $37 trillion, the Treasury Department reports
The national debt eclipsed $37 trillion years sooner than pre-pandemic projections.
US July budget deficit up 20% year-over-year despite record Trump tariff income
As President Donald Trump talks about America becoming rich because of his import tax hikes, federal spending keeps outpacing the revenues collected by the government.
WNBA ratings, attendance still strong despite top stars missing games with injuries
Injuries have kept Caitlin Clark, Breanna Stewart, Napheesa Collier and Angel Reese out, but that hasn’t dampened fan interest in the league.