Financial related news.
American consumers were feeling less confident last month as concerns over a possible recession increased. The Conference Board, a business research group, last week said that its consumer confidence index fell to 106.7 from a revised 110.9 in January. Analysts had been forecasting that the index remained steady from January to February. The decline in [...]
WASHINGTON (AP) — An inflation gauge favored by the Federal Reserve increased in January, the latest sign that the slowdown in consumer price increases is occurring unevenly from month to month. The government late last week reported that prices rose 0.3 percent from December to January, up from the 0.1 percent increase in the previous [...]
NEW YORK (AP) — Fewer banks tightened lending standards as 2023 came to a close, a sign for businesses that broader loan access could be on the horizon. Lending standards are the measures used by a bank to determine whether a business or person receives a loan. Tighter standards, such as stronger credit and collateral [...]
SAN FRANCISCO — After two false starts, the billionaires behind a plan to build an eco-friendly city from scratch are behind schedule and off to a bumpy start to put their proposal before California voters this November. Former Goldman Sachs trader Jan Sramek unveiled his closely guarded ballot initiative for the proposed community between San [...]
WASHINGTON (AP) — The nation’s economy grew at a 3.2 percent annual pace from October through December, propelled by consumer spending, the Commerce Department earlier this week reported in a downgrade from its initial estimate. The expansion in the nation's gross domestic product — the economy's total output of goods and services — slipped from [...]
NEW YORK (AP) — This year looks to be a much better one for the nation’s economy than business economists were forecasting just a few months ago, according to a survey released earlier this week. The economy looks set to grow 2.2 percent this year after adjusting for inflation, according to the National Association for [...]
WASHINGTON (AP) — Several Federal Reserve policymakers last week warned against cutting interest rates too soon or by too much in the wake of recent data showing inflation stayed unexpectedly high in January. Their comments echoed the minutes released Feb. 21 from the Fed's last meeting in January. The minutes showed that most central bank [...]
WASHINGTON (AP) — IRS officials last week said there will be more scrutiny on executives' personal use of business aircraft who write it off as a tax expense. IRS leadership said the agency will start conducting dozens of audits on businesses' private jets and how they are used personally by executives and written off as [...]
CHARLESTON, W.Va. (AP) — A Virginia bank says it will delay plans to auction off land at West Virginia Gov. Jim Justice's posh resort in an attempt to recover more than $300 million on defaulted business loans by the governor's family. In a filing in Greenbrier County Circuit Court, Carter Bank & Trust of Martinsville, [...]
NEW YORK (AP) — For many students, the excitement of being accepted into their first-choice college is being tempered this year by a troublesome uncertainty over whether they'll get the financial aid they need to attend. The financial aid decisions that usually go out with acceptance letters are being delayed because of a later-than-expected rollout [...]