By PAUL WISEMAN2 hours ago
WASHINGTON (AP) — The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy’s health has emerged as a paramount issue.
By MATT O’BRIEN and TOM KRISHERan hour ago
Elon Musk attempted to soothe leery Twitter advertisers Thursday, a day before a deadline to close out on his $44 billion acquisition of the social media platform, saying that he is buying the platform to “help humanity” and doesn’t want it to become a “free-for-all hellscape.”
By DAVID McHUGHan hour ago
FRANKFURT, Germany (AP) — The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates at the fastest pace in the euro currency’s history and underscoring the bank’s determination to control prices despite the threat of recession.
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Business Highlights: Bank fees, Musk brings sink to TwitterBusiness Highlights: Adidas split with Ye, Google ad slumpBusiness Highlights: China’s growth, Credit Suisse finedBusiness Highlights: Social media concerns, deficit numbers
- Post-election rally unlikely amid Fed rate outlook
- Had enough? S&P plunge could deepen if recession takes hold
- Homeowners see slower equity gains as housing market cools
- Rare bear market in bonds strips investors of safe haven
By VANESSA GERA, DAVID McHUGH and AUREL OBREJAtoday
CHISINAU, Moldova (AP) — Tudor Popescu swings his ax down on a log, then feeds the split wood into a stove that heats his home in the capital of Moldova. As the nights turn chilly, the stack of firewood has been growing higher around him — his provisions for the coming winter.
By TOM KRISHER3 minutes ago
DETROIT (AP) — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service.She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn’t have any suitable vehicles.
- McDonald’s Q3 sales boosted by higher prices, promotions
- Lawmakers send Wolf large package of energy tax credits
- US mortgage rates top 7% for the first time in 2 decades
- US unemployment claims inched higher, but remain very low
- Mississippi residents accused of defrauding federal program
- Small business group files suit over Biden student loan plan
- Small business loan deadline approaching in Tennessee
- ‘Big impact’: UK economic chaos, pound plunge hit businesses