Breaking News

Business News

Fed Chair Warsh signals rate hikes may be needed with US inflation stubbornly elevated

JACKSON HOLE, Wyo. (AP) — Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he has previously sent about his economic outlook. In his first high-profile speech at the Fed’s annual conference in Jackson Hole, Wyoming, Warsh acknowledged that recent U.S. reports show that inflation has cooled a bit, but “they do not tell me that underlying trends have meaningfully improved.” “We must be confident that underlying inflation is ...

Lucky Charms and Trix go au naturel

General Mills said Wednesday it has removed artificial colors from all its U.S. cereals, including Lucky Charms and Trix. The Minneapolis company has shifted to fruit- and vegetable-based dyes as well as colors derived from spices like turmeric and paprika to give its cereals their customary bright colors. “This achievement reflects how we are evolving with consumer needs while continuing to offer food that tastes great, delivers quality and provides value,” said Bethany Quam, General Mills’ president of cereal, in a statement. General Mills said 90% of its U.S. retail ...

Florida, hard-hit by Obamacare drop-off, feels the squeeze of rising healthcare costs

ST. CLOUD, Fla. (AP) — Florida chef Elijah Button was chopping onions in June when his knife slipped and sliced his middle finger to the bone. It was his worst kitchen accident to date. But having given up his Affordable Care Act health insurance plan in January because of a $100 monthly premium hike he couldn’t afford, the 21-year-old in St. Cloud didn’t have the money for emergency care. “Going to the hospital for it wasn’t even an option,” he said, gesturing toward his finger before preparing a pot roast for his aunt and uncle in their suburban home. “My first ...

New Telluride shows promise

For a relative newcomer, the Kia Telluride was an instant success for the South Korean car company when it debuted in 2020. We sang its praises back then and we’re ready for another ‘hurrah’ with the debut of the 2027 Telluride — a turbo powered three-row hybrid. The second-generation redesign is longer, wider and taller than its predecessor with a stretched wheelbase to improve handling while providing more interior space. Power comes from a 2.5-liter, four-cylinder engine paired with two electric motors uniquely merged with the transmission assembly instead of mounted on ...

Tech stocks lead Wall Street after Nvidia, Salesforce and others say AI is creating growth

NEW YORK (AP) — Technology stocks led Wall Street on Thursday after Nvidia, Salesforce and others reported even fatter profits for the spring than analysts expected. The S&P 500 rose 0.7% and pulled closer to its all-time high set earlier this month. The Dow Jones Industrial Average added 105 points, or 0.2%, and the Nasdaq composite climbed 1.6%. Nvidia was the strongest force pulling the market higher, and the chip giant rallied 8.7% after once again delivering stronger profit and revenue for the latest quarter than analysts expected. More importantly for Wall Street, it also ...