Financial related news.
JEFFERSON CITY, Mo. — State governments emerging from the coronavirus pandemic built historic cash surpluses as inflation in prices and wages drove up sales and income tax collections. Now many states are reaping another reward: banking millions of dollars off those surpluses as the Federal Reserve fights inflation with higher interest rates. "We're catching both [...]
Investors found few, if any, safe havens in 2022, as central banks in the United States and around the globe raised interest rates for the first time in years to fight surging inflation, stoking fear of a global recession. Consumers paid more for energy, food and just about everything else. Borrowing to buy a home [...]
Two sites in Columbus are among more than 50 rehabilitation projects across Ohio that will receive state support, according to a joint announcement last week from Gov. Mike DeWine and Lt. Gov. Jon Husted. The projects are being awarded funding as part of the Ohio Historic Preservation Tax Credit Program, administered by the Ohio Department [...]
CHEYENNE, Wyo. — Software engineer Jae Yang got a lot of questions from friends when he moved from Silicon Valley with plans to launch his cryptocurrency exchange not in the up-and-coming urban crypto hubs of Miami or Austin, Texas, but the windswept plains of southeastern Wyoming. While the collapse of the massive FTX exchange and [...]
WASHINGTON (AP) — For the economy, 2022 was a throwback year, and not in a good way. At times, it felt like the 1970s or early '80s. Inflation running rampant. The United States and its European allies engaged in a not-so-Cold War with Russia. A bleak outlook leaving people feeling sour and anxious. It wasn't [...]
NEW YORK (AP) — The free-wheeling holiday shopper of 2021, happy to spend money to relieve some pent-up pandemic demand, has given way to a more practical consumer this year, many small business owners say. The reason: inflation. Stephanie Sala felt last year had a YOLO, or "you only live once," feel to it. People [...]
WASHINGTON (AP) — After scaling 40-year highs, inflation in the United States has been slowly easing since summer. The Federal Reserve, however, seems decidedly unimpressed — and unconvinced that its fight against accelerating prices is anywhere near over. Late last week, stock markets buckled on the growing realization that the Fed may be willing to [...]
NEW YORK — A mini-rebound for Wall Street that began in mid-October came to a crashing halt late last week following the Federal Reserve’s meeting. The Dow Jones Industrial average fell by more than 700 points on Dec. 15. Many financial analysts, however, expect stocks to end 2023 higher, after the Federal Reserve finally stops [...]
PHOENIX (AP) — Lenore Angey never imagined she'd have to go back to work at age 76. With an ailing husband and the highest prices she can remember for everything from milk to gasoline, the retired school lunch worker from Cleveland now works part time as a salesperson at a local department store to cover [...]
NEW YORK (AP) — A unit of American International Group that played an outsized role in the 2008 global financial crises is nearing its official end. AIG said last week in a filing with the U.S. Securities and Exchange Commission that its Financial Products unit has filed for Chapter 11 bankruptcy protection. Bad bets on [...]