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LOS ANGELES (AP) — Mortgage rates are expected to remain above 6 percent for the next year, according to several economists’ 2025 housing forecasts, most of which were released during the past couple of weeks. Some of the eight forecasts on a 30-year mortgage include an upper range as high as 6.8 percent. That range [...]
Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President Joe Biden administration’s campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. Banks, however, argue that without overdraft protection, desperate [...]
WASHINGTON (AP) — Wholesale costs rose last month, signaling that price pressures are still evident in the economy even though inflation has fallen from the peak levels it hit more than two years ago. The Labor Department last week reported that its producer price index — which tracks inflation before it reaches consumers — rose [...]
Albertsons is giving up on its merger with Kroger and is suing the Cincinnati-based grocery chain, saying it didn’t do enough to secure regulatory approval for the $24.6 billion agreement. The move came the day after two judges halted the merger in separate court cases. U.S. District Court Judge Adrienne Nelson issued a preliminary injunction [...]
JUNEAU, Alaska (AP) — The Biden administration has approved plans for a sale of oil and gas leases in Alaska that leaves open the door for drilling in a portion of the Arctic National Wildlife Refuge. The sale will be held Jan. 9, less than two weeks before President Joe Biden leaves office. It will [...]
The federal government last week ordered testing of the nation’s milk supply for bird flu to better monitor the spread of the virus in dairy cows. Raw or unpasteurized milk from dairy farms and processors nationwide must be tested on request starting Dec. 16, the Agriculture Department said. Testing will begin in six states — [...]
WASHINGTON (AP) — America’s job market added 227,000 workers in November, according to a new federal government report. Last month’s hiring growth was up from a gain of 36,000 jobs in October. The government also revised up its estimate of job growth in September and October by a combined 56,000. Last week’s report from the [...]
ALEXANDRIA, VA. (AP) — The sprawling, windowless warehouses that hold rows of high-speed servers powering almost everything the world does on phones and computers are increasingly becoming fixtures of the American landscape, popping up in towns, cities and suburbs across the country. Demand for data centers ballooned in recent years due to the rapid growth [...]
Central Ohio shoppers are expected to spend 5.3 percent more during the holidays this year compared to a year ago, according to the 2024 Forecast of Ohio Holiday Retail Spending released by the Ohio Council of Retail Merchants. Local retail sales during the holiday season are forecast to increase from $6.25 billion in 2023 to [...]
WASHINGTON (AP) — A top Federal Reserve official earlier this week said he is leaning toward supporting an interest rate cut when the Fed meets in two weeks, but that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Christopher Waller, a key member of the [...]