WASHINGTON — Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy.
NEW YORK — Stocks slumped and bond yields moved sharply higher after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy by raising interest rates.
Musk moved Tesla’s headquarters from Palo Alto, California, to Austin, Texas, last year after publicly feuding with California officials about keeping a factory open during the pandemic.
SAN FRANCISCO — Twitter’s stock is rising after it posted strong revenue growth last year and announced a $4 billion share buyback program.
NEW YORK — Congress has given final approval to legislation guaranteeing that people who experience sexual harassment at work can seek recourse in the courts.
Coke Chairman and CEO James Quincey said the company saw some impact from the omicron variant in December and January, but the disruption was not as great as previous waves of the virus.
The administration on Thursday announced the availability of $5 billion in federal funds to states under President Joe Biden’s infrastructure law, sketching out a vision of seamless climate-friendly car travel from coast to coast.
climate envoy John Kerry expressed “significant concerns” over Mexico’s plan to favor its state-owned electricity company and limit private and foreign firms that have invested in renewable power in Mexico.
The Russell 2000 index of smaller companies gave back 32.34 points, or 1.6%, to 2,051.16.