Has Corporate Greed Fueled Inflation? It’s not the biggest culprit

WASHINGTON (AP) – Angry at rising gas station and grocery store prices, many consumers believe they know exactly where to blame: greedy companies that are relentlessly driving up prices and reaping the profits. In response to this sentiment, the Democrat-led House of Representatives last month passed a bill aimed at cracking down on alleged price-gouging … Read more

FDA bans Juul e-cigarettes linked to teen vaping surge

WASHINGTON (AP) — U.S. health officials on Thursday ordered Juul to phase out its electronic cigarettes, the latest blow to the embattled company widely blamed for sparking a national surge in vaping among teens. The action is part of a broader effort by the Food and Drug Administration to put the multibillion-dollar e-cigarette industry under … Read more

Fed’s Powell faces mounting criticism of false inflation

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell has been lauded for his adept leadership during the maelstrom of the pandemic recession. However, as threats to the US economy have increased, Powell has increasingly appeared less sure-footed to Fed watchers. Inflation has proven higher and far more resilient than he or the Fed’s economists had … Read more

how much for petrol Pain at the pump is felt around the world

COLOGNE, Germany (dpa) – At a gas station near Cologne Airport, Bernd Müller sees the numbers on the gas pump increasing rapidly: 22 euros, 23 euros, 24 euros. The numbers showing how much gas he gets are also increasing. But much slower. Painfully slow. “I’m getting rid of my car in October, November,” said Mueller, … Read more

Apple workers in Maryland face hurdles after unionization vote

TOWSON, Md. (AP) — The historic vote by workers at an Apple store in Maryland to unionize — a first for the tech giant — is a significant step in a lengthy process that labor experts say is heavily against workers in favor of their employers is stacked . Workers at an Apple store in … Read more

FDA approves first COVID-19 vaccines for infants and preschoolers

U.S. regulators on Friday approved the first COVID-19 shots for infants and preschoolers, paving the way for immunizations to begin next week. The Food and Drug Administration’s actions follow the unanimous recommendation of its advisory panel for the recordings of Moderna and Pfizer. That means US children under the age of 5 – some 18 … Read more

The Fed’s aggressive rate hikes increase the likelihood of a recession

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell has vowed to do whatever it takes to curb inflation, which is now raging at a four-decade high and defying past efforts by the Fed to tame it . Increasingly, it seems, this could require one painful thing the Fed has been trying to avoid: a recession. … Read more

Wall Street slips into a bear market; Here’s what that means

NEW YORK (AP) – Wall Street opened the week with heavy losses that took the benchmark S&P 500 to levels considered a bear market. Rising interest rateshigh inflationthe war in Ukraine and a slowdown in China’s economy have prompted investors to reconsider what they are willing to pay for a wide range of stocks, from … Read more

India, China growing markets for shunned Russian oil

NEW DELHI (AP) – India and other Asian nations are becoming an increasingly important source of oil revenue for Moscow, despite strong pressure from the US not to increase its purchases, as have the European Union and other allies Suspend energy imports from Russia in line with sanctions over its war against Ukraine. Such sales … Read more

US inflation hits fresh 40-year high as price hikes spread

WASHINGTON (AP) – The prices of gasoline, groceries and most other goods and services soared in May, pushing inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices rose 8.6% year-on-year last month, faster than April’s 8.3% year-on-year rise, the Labor Department said on Friday. The new rate … Read more