BERLIN (Reuters) – New German finance minister Joerg Kukies said on Friday that a moderate and targeted reform of the debt brake, which limits the public deficit to 0.35% of gross domestic product, was being discussed. Germany’s ruling Social Democrats (SPD) and Greens in particular have bristled at the spending rules at a time when…
Investing.com– U.S. stocks traded mostly higher Friday, ending a generally positive week as investors digested more corporate earnings and the latest business activity data. At 09:45 ET (14:45 GMT), the Dow Jones Industrial Average gained 265 points, or 0.6%, and the S&P 500 index rose 12 points, or 0.2%, while the NASDAQ Composite dropped 10…
Donald Trump highlighted rising costs during his campaign to return to the White House.Jeenah Moon/Reuters New YorkCNN — Americans are shelling out 22% more for groceries compared to when President Joe Biden took office in January 2021, according to October Consumer Price Index inflation data. While wages finally began to outpace the rate at which…
A worker stacks off-cut planks of pine wood on a forklift at Woodstock Wood sawmill in Saugerties, New York, on April 10, 2024.Angus Mordant/Bloomberg/Getty Images/File CNN — US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. The Producer Price Index, a measurement of average…
Federal Reserve Chair Jerome Powell speaks at a news conference in Washington, DC, on November 7.Kent Nishimura/Getty Images WashingtonCNN — Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months. Powell said more rate cuts…
Enjou Chocolat’s seasonally themed chocolates and baskets displayed at the store in Morristown, New Jersey, on November 11.Courtesy Enjou Chocolat WashingtonCNN — Enjou Chocolat, a small business in Morristown, New Jersey, is still feeling the pain of inflation these days — from soaring cocoa prices to increased labor expenses. As a result, the chocolate shop,…
A customer shops for dairy products at a supermarket in Saint Petersburg, Russia on June 28.Anton Vaganov/Reuters/File CNN — Americans have spent the last few years complaining about inflation. But price rises in Russia are eye-watering by comparison – and just one symptom of an economy that is overheating. Butter, some meats, and onions are…
Migrant workers pick celery at a farm in Yuma, Arizona.Nick Oza/The Republic/USA Today Network/Imagn Images New YorkCNN — Americans are fed up with high grocery store bills and they’re hoping President-elect Donald Trump will bring relief. Yet one of Trump’s central campaign promises could exacerbate sticker shock at the checkout. On the campaign trail, Trump…
There were 282,000 construction jobs open as of September. Jim Tobin, the CEO of the National Association of Home Builders, said immigrant labor has helped fill in labor shortages.David Paul Morris/Bloomberg/Getty Images CNN — Duewight Garcia overstayed his tourist visa to the US in 2019 after he said run-ins with gangs and his student activism…
Restaurants could be among the businesses hardest hit by President-elect Donald Trump’s plans for mass deportation.10’000 Hours/Digital Vision/Getty Images CNN — President-elect Donald Trump’s promise to further restrict immigration and roll out“mass deportations” has not been finalized, but the specter of looming policy changes is already reverberating on Main Streets across America. To veteran restaurateur…
