The market’s key concern centers on the Federal Reserve’s effort to rein in inflation, and the risk its plan could send the economy into a recession.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World, News
Elon Musk abandons $44 billion deal to buy Twitter; company says it will sue
The possible unraveling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms.
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California will make its own insulin to fight drug’s high prices, governor says
The announcement out of California comes as top senators in Congress recently unveiled a bipartisan bill from Sens. Jeanne Shaheen, D-N.H., and Susan Collins, R-Maine to curb the high cost of insulin.
Posted inBusiness, Nation & World
Robust June jobs report clouds outlook for U.S. economy
The figures the government released Friday spotlighted the sharp divide between the healthy labor market and the rest of the economy.
Posted inBusiness
Wall Street rallies for 4th day
The S&P 500’s gain marks the longest winning streak for the index since March.
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Elon Musk’s deal to buy Twitter is in peril
If Musk pulls out of the deal, it will probably trigger a massive legal battle.
Posted inBusiness, Nation & World
Democrats want to tax high earners to protect Medicare solvency
Also, an emerging Schumer-Manchin compromise aims to lower prescription drug costs.
Posted inBusiness, Nation & World
Inflation pushed 71 million people into poverty since Ukraine war
DUBAI, United Arab Emirates – A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia’s invasion of Ukraine, the United Nations Development Program said in a report Thursday. The UNDP estimates that 51.6 million more people fell […]
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U.S. mortgage rates plunge to 5.3% in biggest weekly drop since 2008
But the housing market is the least affordable it’s been since the mid-1980s.
Posted inBusiness
U.S. dollar nearly equal to euro for 1st time in 20 years
The trend makes foreign goods slightly less expensive for Americans but threatens to hurt U.S. exporters.