Breaking News

Business News

At Detroit auto show, spotlight dims for EVs

DETROIT (AP) — At the North American International Auto Show, tires squeal as gearheads put shiny new vehicles through their paces on a pair of indoor tracks that sprawl across the event space. One of those tracks used to be set aside exclusively for electric vehicles as U.S. automakers sought to quickly build out the cars of the future. But no longer. This year, both strips are open to hybrids and gas-powered vehicles as Detroit continues a pivot away from EVs since President Donald Trump returned to the White House with a pro-fossil fuels agenda. “The show will always reflect ...

Just 198,000 Americans filed jobless claims last week

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as U.S. layoffs remain low despite growing concern about a weakening job market. U.S. filings for jobless aid for the week ending Jan. 10 fell by 9,000 to 198,000, down from 207,000 the previous week, the Labor Department reported Thursday. The figure was significantly less than the 215,000 that analysts polled by the data firm FactSet were expecting. Applications for unemployment benefits are viewed as a proxy for layoffs and are close to a real-time indicator of the health of the job market. Last ...

AUTOParkit owner puts his Warren properties up for sale

WARREN — Three-and-a-half months after a run-in with Warren City Council, a city businessman is placing his industrial properties on the market. Christopher Alan, owner of AUTOParkit, listed 310 Dana St., 408 Dana St, and 650 Griswold St. on Monday with Platz Realty Group of Canfield. The ...

Retail sales rose 0.6% in November as holiday shopping kicked into gear

NEW YORK (AP) — Shoppers increased their spending in November from October as holiday shopping kicked into full gear. Retail sales rose a better-than-expected 0.6% in November, following a revised 0.1% decline October, according to the Commerce Department. The report on Wednesday was delayed more than a month because of the 43-day government shutdown. Retail sales rose 0.1% increase in September, but jumped 0.6% in July and August and 1% in June. The federal government is gradually catching up on economic reports that were postponed by the shutdown. The retail sales figures, ...

Top central bankers express ‘full solidarity’ with Fed Chair Powell

FRANKFURT, Germany (AP) — Central bankers from around the world said Tuesday they “stand in full solidarity” with U.S. Federal Reserve Chair Jerome Powell after President Donald Trump dramatically escalated his confrontation with the Fed with the Justice Department investigating and threatening criminal charges. Powell “has served with integrity, focused on his mandate and an unwavering commitment to the public interest,” read the statement signed by nine national central bank heads including European Central Bank President Christine Lagarde and Bank of England Governor ...

2025 US home sales stuck at 30-year low

The U.S. housing market slump dragged into its fourth year in 2025 as sales remained stuck at a 30-year low with rising home prices and elevated mortgage rates keeping many prospective home shoppers out of the market. Sales of previously occupied U.S. homes totaled 4.06 million last year, flat versus 2024, when sales sank to the lowest level since 1995, the National Association of Realtors said Wednesday. Sales have declined on annual basis every year since 2022. The median national home price for all of last year rose 1.7% to $414,400, the NAR said. Sales have been stuck at around a ...