Consumers defy inflation to support economy. For how long?

Consumers defy inflation to support economy.  For how long?

WASHINGTON (AP) – With prices across the economy – from food, gas and rent to cars, airfares and hotel rooms – soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending but … Read more

EXPLAINER: Why is Wall Street close to a bear market?

EXPLAINER: Why is Wall Street close to a bear market?

NEW YORK (AP) – The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to … Read more

Ukrainian band Kalush Orchestra wins Eurovision amid war

Ukrainian band Kalush Orchestra wins Eurovision amid war

TURIN, Italy (AP) – Ukrainian band Kalush Orchestra won the Eurovision Song Contest in the early hours of Sunday in a clear show of popular support for the war-ravaged nation that went beyond the music. Ukrainian President Volodymyr Zelenskyy welcomed the victory, Ukraine’s third since its 2003 Eurovision debut, and said “we will do our … Read more

Senate confirms Powell for 2nd term as Fed fights inflation

Senate confirms Powell for 2nd term as Fed fights inflation

WASHINGTON (AP) – The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp … Read more

Baby formula shortage: What experts want parents to know

Baby formula shortage: What experts want parents to know

WASHINGTON (AP) – Many parents are hunting for infant formula after a combination of short- and long-term problems hit most of the biggest US brands. Millions of babies in the US rely on formula, which is the only source of nutrition recommended for infants who aren’t exclusively breastfed. Here’s a look at what’s behind the … Read more

US inflation dips from 4-decade high but still causing pain

US inflation dips from 4-decade high but still causing pain

WASHINGTON (AP) – Inflation eased slightly in April after months of relentless increases but remains near a four-decade high, imposing a continuing financial strain on American households. Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. That was below the 8.5% year-over-year surge in March, which was the highest since … Read more

EXPLAINER: Recession fears grow. But how high is the risk?

EXPLAINER: Recession fears grow.  But how high is the risk?

WASHINGTON (AP) – Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, … Read more

Wall Street’s losses worsen as markets tumble worldwide

Wall Street’s losses worsen as markets tumble worldwide

NEW YORK (AP) – Wall Street is tumbling toward its lowest point in more than a year on Monday as renewed worries about China’s economy pile on top of markets already battered by rising interest rates. The S&P 500 was 2.1% lower in afternoon trading after coming off its fifth straight losing week, its longest … Read more

Nicolas Cage faces off with a new foe: himself

Nicolas Cage faces off with a new foe: himself

NEW YORK (AP) – “Metropolis.” Bruce Lee. Woody Woodpecker. The pet charges. All of these things have been inspirations behind Nicolas Cage performances – sometimes private homages that the actor has used like blueprints to build some of his most exaggerated, erratic and affecting characters. A conversation with Cage, likewise, pulls from a wide gamut … Read more