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Fed discussed pulling back on bond purchases later this year

Federal Reserve officials last month discussed the idea of beginning to dial back their extraordinary support for the U.S. economy later this year, though they stopped short of a firm decision on a timetable. The minutes of the Fed’s July 27-28 meeting, released Wednesday, indicated that the economic […]

Some customers’ personal data exposed in T-Mobile breach

The names, Social Security numbers and information from driver’s licenses or other identification of just over 40 million former and prospective customers that applied for T-Mobile credit were exposed in a recent data breach, the company said Wednesday. The same data for about 7.8 million current T-Mobile postpaid […]

Housing construction slumps 7% in July to 1.53 million units

Home construction fell a sharp 7% in July as home builders struggled to cope with a variety of headwinds. The decline in July put home construction at a seasonally adjusted annual rate of 1.53 million units, the Commerce Department reported Wednesday. Applications for building permits, which can forecast […]

European stock markets slip, Asian markets advance

European stock markets opened lower Wednesday while Asia advanced as investors awaited an update from the Federal Reserve on possible plans to reduce U.S. stimulus. Wall Street futures also declined a day after the benchmark S&P 500 index eased off a record high following weaker-than-expected U.S. retail sales. […]

Taliban destroy statue of foe, stoking fear over their rule

The Taliban have blown up the statue of a Shiite militia leader who fought against them during Afghanistan’s civil war in the 1990s, according to photos circulating on Wednesday, sowing further doubt about their claims to have become more moderate. The insurgents’ every action in their sudden sweep to […]

Kansas City Southern delays vote on $33.6B rail takeover bid

Kansas City Southern decided Tuesday to will delay this week’s planned shareholder vote on Canadian National’s $33.6 billion offer to buy the railroad because regulators haven’t yet ruled on a key part of the acquisition plan. The vote scheduled for Thursday was put on hold while investors wait […]

South African activists slam J&J for exporting vaccines

Health activists in Africa have slammed Johnson & Johnson for exporting vaccines produced in South Africa to countries in Europe, which have already immunized large numbers of their people and have even donated vaccines to more needy countries. The one-dose J&J vaccines were exported from South Africa, where […]

TSA extends into January mask rule for airline passengers

Federal officials are extending into January a requirement that people on airline flights and public transportation wear face masks, a rule intended to limit the spread of COVID-19. The Transportation Security Administration’s current order was scheduled to expire Sept. 13. An agency spokesman said Tuesday that the mandate […]

Fed’s Powell: There’s no returning to pre-pandemic economy

Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes. “We’re not simply going back to the economy that we had before the pandemic,” Powell said at […]

Japan’s imports, exports grow on overseas economic rebound

Japan’s exports in July jumped 37% from a year ago, the government said Wednesday, highlighting an overseas recovery from the coronavirus pandemic. Imports also grew, rising 28.5%, according to Finance Ministry data, for the second straight month of a trade surplus for the world’s third largest economy. Japan’s […]

Asian stock markets rebound after Wall St falls from record

Asian stock markets rebounded Wednesday after Wall Street fell on weak retail sales as investors awaited an update from the Federal Reserve on possible plans to reduce U.S. stimulus. Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index declined Tuesday from a record high […]

US factory production rebounds at fastest pace in 4 months

U.S. factory production in July posted the strongest gain in 4 months, reflecting a surge in production at auto plants that are still wrestling with major supply chain problems. Manufacturing output increased 1.4% last month following a decline of 0.3% in June, the Federal Reserve reported Tuesday. It […]

Americans spent less in July as COVID-19 cases surged

Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores. Retail sales fell a seasonal adjusted 1.1% in July from the month before, the U.S. Commerce Department said Tuesday. It was a much larger drop than the 0.3% decline […]

Japan expands virus emergency, weighs legal penalties

 Japanese Prime Minister Yoshihide Suga officially expanded and extended the nation’s coronavirus state of emergency on Tuesday, as government advisers recommended legal changes that would allow penalties for violations. The measures, approved by a government task force, add seven prefectures to the six areas already under a state […]

European Medicines Agency deciding on third dose

The European Medicines Agency says it is deciding whether a third dose of coronavirus vaccines will be needed, in light of U.S. regulators considering booster shots. The EU drug regulator says it’s “engaging with vaccine developers” to coordinate submission of the necessary data and says it is aware […]

Millennial Money: 3 things to do before you buy crypto

Investing in cryptocurrency can be as easy as a few taps on your phone, and with crypto all over the news and coming up in conversations with friends, it’s tempting to dive right in. However, depending on your financial situation and appetite for investing risk, crypto might not […]

Walmart ups outlook as back-to-school sales take off

Walmart is raising its sales outlook for the year as Americans returned to shopping for back-to-school clothes and travel goods during the fiscal second quarter. Still, concerns are mounting over spending in the months ahead as the delta variant of COVID-19 surges across the U.S. and mask mandates […]

July retail sales fell 1.1% as COVID-19 surge hits spending

Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores. Retail sales fell a seasonal adjusted 1.1% in July from the month before, the U.S. Commerce Department said Tuesday. It was a much larger drop than the 0.3% decline […]

Imprisoned Chinese citizen journalist not well, lawyer says

A Chinese citizen journalist serving a four-year sentence after reporting on the early stage of the COVID-19 pandemic in the city of Wuhan is in ill health after staging a long-running hunger strike, according to a lawyer who spoke with her family. Zhang Zhan was hospitalized on July […]

Home Depot sales climb again, but DIY frenzy may be cooling

Home Depot’s sales continue to surge, though same-store sales appeared to come back to earth after a year in which the home improvement chain outperformed expectations repeatedly. For the three months ended August 1, sales climbed to $41.12 billion from $38.05 billion. Chairman and CEO Craig Menea said […]

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