Amid high inflation, Phoenix lobster chain owner buys Maine wharf to help keep prices down
Tony Christofellis, who owns Angie's Lobsters, recently bought a wharf in Maine in an effort to keep their menu price just below $10.
Phoenix sees highest inflation rate in US, report says: What to know as prices continue to rise
As inflation takes a bite out of the budget of Americans and other people around the world, here's what you should know about why prices are rising.
US inflation reached 9.1% in June, a new 40-year high
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
World Baseball Classic coming to Chase Field in downtown Phoenix
Chase Field in downtown Phoenix has just been selected as the official host for the next World Baseball Classic, bringing together teams from all over the world.
Costco raises prices on food court soft drinks, chicken bake
Wholesale retailer Costco reported June net sales of $22.78B.
Inflation, expenses rise sharply as priorities for most Americans, poll finds
Most Americans expressed little confidence in Republicans and Democrats to focus on issues important to them or an ability to work together and get things done.
US employers add a solid 372,000 jobs in sign of resilience
America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates.
'We've done something about it': Biden touts rule which aims to rescue pensions for millions
President Joe Biden has used an Ohio visit to showcase federal action aimed at shoring up pensions for millions of workers.
Electric vehicle battery myths v. facts: The debate over ‘green’
As demand for electric vehicles grows, innovation follows and companies are looking at more environmentally friendly options when it comes to the controversial manufacturing of EV batteries.
G-7 leaders confer with Zelenskyy, prepare new aid for Ukraine
The U.S. is reportedly planning to buy an advanced surface-to-air missile system for Kyiv to help Ukraine fight Russian forces.
Federal Reserve Chair Jerome Powell says rate hikes to be decided 'meeting by meeting'
Concerns are growing among some that the Federal Reserve may tighten credit so much that it may cause a potential recession.
American Airlines ending service in three cities due to pilot shortage
American Airlines is ending service in three cities this fall in response to the industry-wide pilot shortage.
Gas prices soar around the world amid Russia-Ukraine war, rebound from COVID-19
Energy prices are a key driver of inflation that is rising worldwide and making the cost of living more expensive.
US Treasury Secretary Janet Yellen says recession is not inevitable
She also discussed Sunday an openness to lowering the federal gas tax to give drivers some relief at the pump.
Wheat and barley shortage: How Russia-Ukraine war triggered a global food crisis
Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% of its sunflower oil and are big suppliers of corn.
100 million Americans carry medical debt with some owing more than $10K, poll finds
Some people say they have medical debt they owe to a relative or friend for a loan they received to pay a medical or dental bill.
How rising interest rates make borrowing more expensive, benefit savers
The Federal Reserve is signaling that it will raise interest rates above 3% by the end of the year as it struggles to control inflation without plunging the economy into a recession.
Average US mortgage rates hit 5.78%, highest level since 2008
Average long-term U.S. mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve raising its key rate in a bid to tame inflation.
Fed raises key interest rate in largest hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades.
Biden tells oil refiners: Produce more gas and diesel, fewer profits
In a draft letter to refiners, Biden said their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record-high gas prices.