The Federal Reserve on Wednesday again turned to its most potent weapon for subduing inflation, with the central bank boosting rates for a sixth time in 2022. That means the cost of borrowing will continue to rise for consumers and businesses, an economic pinch that could have a major impact …
Read More »Aerosol products at higher risk for benzene, says scientist who spurred recalls
Unilever is recalling dry shampoo aerosol products sold nationwide because they may contain elevated levels of benzene, a human carcinogen. The recall is the latest of half a dozen so far this year, with the cancer-causing chemical showing up in products including deodorant, hand sanitizer and sunscreen. People should take …
Read More »Farmers will get $3.1 billion in USDA loan relief from Biden
The federal government announced Tuesday a program that will provide billions of dollars in debt relief for about 36,000 farmers who have fallen behind on loan payments or face foreclosure. The U.S. Department of Agriculture announced the farm loan relief program funded from $3.1 billion set aside in the Inflation …
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LOS ANGELES — Former goalkeeper Hope Solo objected to the equal pay lawsuit between her former teammates and the U.S. Soccer Federation, filing a notice in federal court. Solo sued the USSF in August 2018 alleging violations of the federal Equal Pay Act and sex status discrimination. While Solo’s case …
Read More »The flip side of inflation: “Skimpflation” is hitting everything from food to hotels
The hottest inflation in 40 years has prompted manufacturers to resort to “shrinkflation,” a cost-saving tactic to reduce the size of packages while keeping the same price. Now, businesses are trying another way to save money: “skimpflation.” Some companies are reformulating their products using cheaper ingredients to reduce their manufacturing …
Read More »Elon Musk’s ex
A woman who dated Elon Musk in college earned just over $165,000 after auctioning a personal collection of photos and other items linked to the tech billionaire. Among the items sold by Jennifer Gwynne of South Carolina: a birthday card he sent to her that sold for $16,643, a dorm …
Read More »Target drops mandatory retirement age, allowing CEO Cornell to stay
Target is dropping the mandatory retirement age for its CEO, allowing Chief Executive Brian Cornell to stay on for three more years. Cornell, 63, would have passed the age of 65 in that span. “In discussions about the company’s longer-term plans, it was important to us as a board to …
Read More »Animal cookies sold at Target recalled because they may contain metal pieces
Animal cookies sold at Target stores nationwide are now being recalled because the snacks may contain pieces of metal wire. The company that makes the sugary glaze- and sprinkle-covered treats, D. F. Stauffer Biscuit of Pennsylvania, announced the recall last week after someone found “metal (wire) inside a portion of …
Read More »Bed Bath & Beyond shares tank after billionaire Ryan Cohen dumps stake
Bed Bath & Beyond’s stock price cratered this week, leaving many investors who lapped up shares of the struggling home goods retailer to choking losses. But at least two investors have walked away with millions in gains after selling their stake in the company before the bottom fell out. One …
Read More »Stocks fly high on Wall Street, giving the S&P 500 its 4th straight week of gains
U.S. stocks saw big gains on Friday, giving the S&P 500 its first 4-week winning streak since November. The benchmark index rose 73 points to 4,280, or 1.7%, Friday, while the Dow Jones Industrial Average climbed 424 points to 33,761, or 1.3%. Technology stocks drove much the rally with the …
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