US retail spending slows as inflation starts to bite
After beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are taking a bigger bite out of their wallet.
Homelessness jumps 35% in 2 years in Maricopa County
A report released by the Maricopa Association of Governments says that 5,029 people in the county, including 3,096 people in Phoenix, experienced homelessness in unsheltered situations the night of Jan. 25.
US revokes Russia’s ‘most favored nation' status, bans seafood, alcohol, diamond imports
The U.S. will dramatically downgrade its trade status with Russia as punishment for its invasion of Ukraine and also ban imports of Russian seafood, alcohol and diamonds.
Canned pet food shortage continues amid supply chain woes
The canned pet food industry continues to feel the burn as supply chain woes and increases in price leave many pet owners improvising their dog or cat’s next meal.
US inflation soared 7.9% in past year, a fresh 40-year high
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
Biden to sign order mandating study of cryptocurrency as its use explodes
The Biden administration views the explosive popularity of cryptocurrency as a call for acting with urgency to look at the risks and benefits of digital assets.
President Biden bans Russian oil imports over Ukraine war
The move follows pleas by Ukrainian President Volodmyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission the massive sanctions put in place on Russia over the invasion.
'Tough': Phoenix residents struggle with spiking rent prices amid housing shortage
The cost of rent continues to rise across the metropolitan Phoenix area, with landlords reportedly raising prices by 20% to 30% and leaving tenants worried about the future.
Biden announces $54M Siemens investment, planned US factory jobs
President Biden joined the CEO of Siemens USA to announce a $54M investment to produce equipment for electrical infrastructure, creating 300 more jobs at California and Texas sites.
Shell, BP pull out of energy investments in Russia over Ukraine invasion
Both Shell and BP announced they are pulling out of Russia, as President Vladimir Putin’s invasion of Ukraine continues to take its toll on the country's economy, which is heavily dependent on foreign investments in its energy industry. “We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression," Shell's CEO said. “Our decision to exit is one we take with conviction. We cannot — and we will not — stand by."
Number of Americans collecting unemployment lowest since 1970
The number of Americans collecting unemployment benefits fell to a 52-year low after another decline in jobless aid applications last week.
Oil prices jump; Ukraine-Russia conflict could push inflation to 10% as invasion begins
U.S. inflation is already at the highest level in four decades. Russia's full-scale attack on Ukraine could push it even higher.
US ports to get $450M to help ease supply chain congestion, lower prices
Clogged U.S. ports are being given access to nearly $450 million in federal money from Biden's infrastructure law to help ease supply chain congestion and lower prices.
Interest rates could increase more than traditional quarter-point, US Fed governor says
Federal Reserve Governor Michelle Bowman says she's open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
Will real estate housing market crash or cool off in 2022? Experts give their 2 cents
During 2020 and 2021, the housing market sizzled across the nation, with annual existing-home sales hitting their highest mark since 2006. But, what can we expect in 2022?
'It's very discouraging': Supply chain issues force Chandler restaurant to delay grand opening by a year
Pork on a Fork BBQ was supposed to open near Alma School and Warner in Chandler in May 2021. Fast forward to February 2022, and they're still waiting for necessary supplies for their restaurant.
Rising gas prices: Ways to maximize your fuel economy
As gas prices continue to climb, here are some tips and tricks to help save you money and maximize your fuel economy.
2022 weddings will cost more; here are some ways to save
An estimated 2.5 million weddings plan to take place in 2022 and, as with some many other things, couples can expect to pay more amid rising prices.
Your Super Bowl Sunday chicken wings will cost an arm and a leg
Industry experts say the coveted Super Bowl fare should be available, but customers should be ready to pony up more
US inflation report: Consumer prices jumped 7.5% in past year, a 40-year high
U.S. inflation jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982.