Business News
The U.S. Federal Reserve on Wednesday lowered its target interest rate but signaled it might take longer than previously expected to bring inflation down to the central bank’s target rate of 2% per year. That means there will likely be fewer rate reductions in 2025 than had been projected. The Fed’s Federal Open Market Committee […]
The IRS has announced changes for 2025—and your paychecks could be affected by the new rules. Increases to federal income tax brackets and deductions could mean that even if your pay hasn’t changed, you could fall into a different tax bracket and may even save some money. “The new inflation adjustments are for tax year 2025, for […]
Becoming a homeowner is one of the most rewarding and important investments you’ll ever make—and it never stops. For instance, you’ll embark on renovation projects, learn about property taxes and mortgage rates, and quickly understand the value of seasonal maintenance upkeep. Down the road, you might also think about refinancing your home. But how do you […]
EVERETT, WASH. — Boeing reported a loss of more than $6 billion in the third quarter and immediately turned its attention to union workers who will vote Wednesday whether to accept a company contract offer or continue their crippling strike, which has dragged on for nearly six weeks. New CEO Kelly Ortberg laid out his plan […]
DETROIT — Had she wanted to, Michelle Chumley could have afforded a pricey new SUV loaded with options. But when it came time to replace her Chevrolet Blazer SUV, for which she’d paid about $40,000 three years ago, Chumley chose something smaller. And less costly. With her purchase of a Chevrolet Trax compact SUV in June, […]
STOCKHOLM — The Nobel memorial prize in economics was awarded Monday to Daron Acemoglu, Simon Johnson and James A. Robinson for research into differences in prosperity between nations and why some countries succeed and others fail. The three economists “have demonstrated the importance of societal institutions for a country’s prosperity,” the Nobel committee of the Royal […]
NEW YORK — Attention, Kmart shoppers, the end is near! The erstwhile retail giant renowned for its Blue Light Specials — featuring a flashing blue orb affixed to a pole enticing shoppers to a flash sale — is shuttering its last full-scale store in mainland United States. The store, located in swank Bridgehampton, New York, on […]
JACKSON HOLE, WYOMING — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected […]
MADRID — The global cruise industry expects to carry 10% more passengers by 2028 than the 31.7 million who took cruise holidays in 2023, when the sector surpassed pre-pandemic levels, but sees some routes exposed to protests over overtourism. Long criticized for its impact on the environment and coastal communities, the industry has ordered 57 more […]
ISLAMABAD — Pakistan said Saturday that a newly secured multibillion-dollar loan from the International Monetary Fund would help improve the cash-starved country’s macroeconomic stability. The official reaction came hours after the Washington-based global lender announced its preliminary agreement with Islamabad for a “37-month” loan of about $7 billion under the IMF’s Extended Fund Facility arrangement. “This […]
