Monday, September 16, 2024

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Monday, September 16, 2024 | Back issues

Economy

California special session gears up with focus on oil and gas prices

Alan Riquelmy / September 16, 2024

While the special session is expected to center on a bill written by Democrats, Republicans hope to shape it with legislation of their own.

Wall Street claws back losses as Fed cuts loom

Nick Rummell / September 13, 2024

On the eve of next week’s crucial Federal Reserve meeting, markets managed to staunch the wounds suffered last week with a pair of positive inflation reports.

Skepticism bubbles up in Montenegro after 16 years of waiting for EU membership

Cain Burdeau / September 13, 2024

Since 2008, small Montenegro has been working to join the European Union. On first look, it seems obvious the population is eager to join. But many Montenegrins aren't so sure about the benefits — and they've grown weary with all the waiting.

US filings for unemployment benefits inch up slightly but remain historically low

Associated Press / September 12, 2024

Employers added a modest 142,000 jobs in August, up from a paltry 89,000 in July, but well below the January-June monthly average of nearly 218,000.

Navient banned from servicing federal student loans

Alexandra Jones / September 12, 2024

In a settlement agreement with the Consumer Financial Protection Bureau, the former federal student loan provider agreed to pay $100 million to borrowers whom the agency says it pushed into costly forbearances.

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

Associated Press / September 11, 2024

Americans’ paychecks are also growing more slowly — an average of about 3.5% annually, still a solid pace — which reduces inflationary pressures.

Amazon to invest $10.5 billion in UK in boost for new Labour government

Agence France-Presse / September 11, 2024

Amazon employs 75,000 people in Britain, at more than 100 sites. It said in its news release that it invested $73 billion in the country between 2010 and 2022.

Europe girds for global competition with pitch for $880 billion investment boost

Alexandra Brzozowski / September 9, 2024

Former Italian technocrat Prime Minister Mario Draghi is calling on EU decision-makers to develop a "new industrial strategy" to make the bloc competitive with economic heavyweights such as the U.S. and China.

Wall Street stumbles on bad jobs, economic data

Nick Rummell / September 6, 2024

Poor jobs and economic data have investors turning bearish, as interest rate cuts are already priced into markets.

Cool jobs report sets stage for interest rate cut

Nick Rummell / September 6, 2024

Coming in lower than expected for the second consecutive month, the federal jobs report guarantees the Federal Reserve will cut interest rates by at least 0.25% later this month.

The Fed welcomes a ‘soft landing’ even if many Americans don’t feel like cheering

Associated Press / September 3, 2024

The relatively sour mood of the public is creating challenges for Vice President Kamala Harris as she seeks to succeed President Joe Biden. Despite the fall of inflation and strong job growth, many voters say they're dissatisfied with the Biden-Harris administration's economic record — and especially frustrated by high prices.