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General Motors’ profit declined 35 percent in its second-quarter, but the automaker topped expectations and stuck by its full-year financial outlook that it lowered in May. GM CEO Mary Barra also said in a letter to shareholders earlier this week that the automaker is attempting to “greatly reduce our tariff exposure,” citing $4 billion of [...]
WASHINGTON (AP) — President Donald Trump last week signed into law new regulations for a type of cryptocurrency, a milestone for an industry that has spent heavily to strengthen its legitimacy and political might. The GENIUS Act sets initial guardrails and consumer protections for stablecoins, which are tied to assets such as the American dollar [...]
WASHINGTON (AP) — President Donald Trump is granting two years of regulatory relief to coal-fired power plants, chemical manufacturers and other similar industries as he seeks to reverse Biden-era regulations he considers overly burdensome. Trump last week issued a series of proclamations exempting a range of industries that he calls vital to national security. The [...]
WASHINGTON (AP) — Consumers picked up their spending in June after an earlier pullback, according to a new federal government report. Retail sales in June rose a better-than-expected 0.6 percent, according to the Commerce Department, after two consecutive months of spending declines, a 0.1 percent pullback in April and a 0.9 percent slowdown in May. [...]
A new multi-year endorsement deal between USA Bobsled and Skeleton and American Honda will include testing, research and development at central Ohio Honda facilities. The deal will give the sliding sports federation financial and technical support going into both next winter’s Milan-Cortina Olympics and the 2030 Games in the French Alps. The deal, announced earlier [...]
WASHINGTON (AP) — Inflation rose last month as consumer prices increased 2.7 percent in June from a year earlier, according to a new report from the Labor Department. That figure is up from an annual increase of 2.4 percent in May. On a monthly basis, prices climbed 0.3 percent from May to June, after rising [...]
Breakfast cereal could use a lucky charm. Sales of the colorfully packaged morning staple have been in a decades-long decline, a trend back in the spotlight with news that Italian confectioner Ferrero Group plans to purchase WK Kellogg, maker of Corn Flakes, Froot Loops, Rice Krispies and other familiar brands. Except for a brief period [...]
The United States has closed its southern border again to livestock imports, saying a flesh-eating parasite has moved further north in Mexico than previously reported. Mexico’s president last week was critical of the decision, suggesting that the U.S. is exaggerating the threat to its beef industry from the parasite, the New World screwworm fly. The [...]
WASHINGTON (AP) — President Donald Trump last week imposed import taxes of 50 percent on Brazil, citing the country’s treatment of its former president, Jair Bolsonaro. Trump avoided his standard form letter with Brazil, specifically tying his tariffs to the trial of Bolsonaro, who is charged with trying to overturn his 2022 election loss. Trump [...]
WASHINGTON (AP) — Employers added 147,000 jobs in June as the American labor market continues to show resilience. The unemployment rate ticked down to 4.1 percent from 4.2 percent in May, according to a new report from the Labor Department. Hiring rose from a revised 144,000 in May and beat economists’ expectations of fewer than [...]