The key long-term U.S. mortgage rate held steady this week, providing a lure for potential homebuyers as the spring buying season goes forward. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.55 percent, unchanged ...
Read More »Tame inflation: April consumer prices up just 0.2 percent
American drivers paid more for gas, however, overall consumer prices rose only modestly in April, a sign that inflation remains mild. The modest pace of consumer inflation may send a reassuring signal to the Federal Reserve, which is considering how ...
Read More »Buy tires on Amazon, install them at Sears
Shoppers will be able to buy any brand of tires on Amazon.com, have them shipped to a Sears Auto Center and then bring in their car to get them installed. It’s the latest deal between Sears and Amazon as the ...
Read More »US wholesale prices up a tiny 0.1 percent in April
U.S. wholesale prices edged up just 0.1 percent in April, held down by a big drop in food costs. It was the smallest gain in four months. The April increase in the Labor Department’s producer price index, which measures inflation ...
Read More »Power-sucking Bitcoin ‘mines’ spark backlash
Bitcoin “miners” who use rows of computers whirring at the same time to produce virtual currencies began taking root along New York’s northern border a couple of years ago to tap into some of the nation’s cheapest hydroelectric power, offering ...
Read More »Fed’s Powell: Rate hikes should not upend the global economy
Moves by the Fed and other major central banks to raise interest rates after a long period of keeping them low should not be disruptive to the global economy, Federal Reserve Chairman Jerome Powell said Tuesday. In remarks prepared for ...
Read More »US adds a modest 164,000 jobs; unemployment down to 3.9 pct.
U.S. employers stepped up hiring modestly in April, and the unemployment rate fell to 3.9 percent, evidence of the economy’s resilience amid the recent stock market chaos and anxieties about a possible trade war. Job growth amounted to a ...
Read More »US productivity grows at tepid 0.7 percent rate in Q1
U.S. productivity grew at an annual rate of 0.7 percent in the first three months of this year, a weak reading although a slight improvement from the previous quarter. The first quarter increase followed an even weaker 0.3 percent gain ...
Read More »Survey: US businesses added 204,000 jobs in April
American businesses added 204,000 new workers last month, another sign of strength in the U.S. labor market and economy. Payroll processor ADP said Wednesday that hiring was strong across numerous industries, led by professional and business services, health and education ...
Read More »Pace of US factory growth slows again in April
U.S. manufacturers say the pace of their expansion continued to slow in April, with many factories saying their output is still growing though is crimped by shortages of workers and skills. The Institute for Supply Management, a trade group of ...
Read More »US warns liquid-nicotine packets resemble juice boxes, candy
Federal health authorities issued warnings Tuesday to makers of liquid nicotine whose packaging resembles children’s juice boxes, candies and cookies. The Food and Drug Administration said the packaging practice is illegal for vaping formulas and could lead to poisoning if ...
Read More »