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WASHINGTON (AP) — An uptick in consumer spending helped the nation’s economy expand at a 3.8 percent rate from April through June, the government reported in an upgrade of its previous estimate of second-quarter growth. The country’s gross domestic product — the nation’s output of goods and services — rebounded in the spring from a [...]
The Trump administration wants to redistribute $2.4 billion it pulled from California’s high-speed rail project to help pay for a new $5 billion program announced earlier this week to fund rail projects designed to boost passenger rail traffic nationwide. The new program will put a priority on projects in areas with higher rates of birth [...]
OMAHA, Neb. (AP) — The nation’s largest railroad union earlier this week joined the list of companies endorsing Union Pacific’s proposed $85 billion acquisition of Norfolk Southern after securing promises to protect jobs, but other unions and chemical makers that rely on the railroad operators are still expressing concerns about the deal. The SMART-TD union [...]
WASHINGTON (AP) — President Donald Trump last week signed a proclamation that will require a $100,000 annual visa fee for highly-skilled foreign workers and rolled out a $1 million “gold card” visa as a pathway to United States citizenship for wealthy individuals, moves that face near-certain legal challenges amid criticism he is sidestepping Congress. If [...]
EAST LANSING, Mich. (AP) — In the soft dirt of an indoor horseback riding ring last month, a group of farmers got ready to test drive a new piece of equipment: an electric tractor. As they took turns climbing in — some surprised by its quick acceleration — they gave real-time feedback to the Michigan [...]
NEW YORK (AP) — Nvidia, the world’s leading chipmaker, last week announced that it’s investing $5 billion in Intel and will collaborate with the semiconductor company. The two companies will team up to work on custom data centers that form the backbone of artificial intelligence infrastructure as well as personal computer products, Nvidia said in [...]
Transportation Secretary Sean Duffy is following through on his threat to force Delta and Aeromexico to dissolve their longtime partnership because of his concerns that Mexico isn’t being fair to United States airlines. Duffy earlier this week announced that the Transportation Department is revoking the antitrust immunity the airlines have had since 2016 that allowed [...]
NEW YORK (AP) — Shoppers increased their spending at a better-than-expected pace in August from July, helped by back-to-school shopping, according to a new federal government report. Retail sales rose 0.6 percent last month from July, when sales were up a revised 0.6 percent, according to the Commerce Department’s report. In June, retail sales rose [...]
HARRISBURG, Pa. (AP) — With the explosive growth of Big Tech’s data centers threatening to overload the nation’s electricity grids, policymakers are taking a hard look at a tough-love solution: bumping the energy-hungry data centers off grids during power emergencies. Texas moved first, as state lawmakers try to protect residents in the data-center hotspot from [...]
The average rate on a 30-year mortgage last week fell to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve this week. The long-term rate last week eased to 6.35 percent from 6.5 percent the previous week, according to mortgage [...]