WASHINGTON—An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs. At the same time, consumers barely increased their spending last month, boosting it just 0.1 percent, after a solid 0.6 percent gain in April….
An Inflation Gauge Tracked by the Federal Reserve Falls to Its Lowest Point in 2 Years
Fox News Host Says He’s ‘Quit’ Working at the Network
Longtime television personality Geraldo Rivera said that he was “fired” by Fox News’ “The Five” and has now “quit” the network, coming in the midst of lineup changes at the network. “Bumpy day on the North Atlantic. Anyway, I got fired from [TheFive] so I quit Fox,” Rivera, 79, wrote on Twitter. “After 23 years tomorrow…
Wall Street Opens Higher as Apple Hits Record High, Inflation Cools
June 30, 2023
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U.S. stocks opened higher on Friday, setting up Wall Street for a strong quarterly performance, as Apple shares hit record high and signs of easing inflation offered relief to investors worried about more interest rate hikes. The Dow Jones Industrial Average rose 147.50 points, or 0.43 percent, at the open to 34,269.92. The S&P 500…
Bud Light Declining Sales Are ‘Business as Usual,’ Might Improve Next Year: Beer Industry Expert
Declining sales of Bud Light now appear to be “business as usual” for parent company Anheuser-Busch after it was caught up in controversy earlier this year, according to Beer Business Daily publisher Harry Schuhmacher. In an interview with Fox News published on June 30, Schuhmacher pointed to recent disappointing sales of the beverage in the…
Mulvaney Breaks Silence, Hits Back Against Bud Light For Failing to Support Influencer
Transgender influencer Dylan Mulvaney spoke out publicly on Bud Light for the first time since the marketing fiasco that has cost the beer company the top position among retail beer brands and billions in sales. “I took a brand deal with a company that I loved, and I posted a sponsored video to my page,…
Joby Aviation Gets FAA Approval to Start Flight Tests of Electric Air Taxi
June 30, 2023
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Joby Aviation received approval from the Federal Aviation Administration (FAA) for test flights of its electric air taxi after receiving a $100 million investment from South Korea’s SK Telecom. Joby announced on June 23 that the federal aviation regulator gave the nod to start tests of its flying air taxi, as the innovative design steps…
US Weekly Jobless Claims Post Biggest Drop in 20 Months as Economy Shows Stamina
June 30, 2023
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WASHINGTON—The number of Americans filing new claims for unemployment benefits fell last week by the most in 20 months, the latest sign of the economy’s resilience that could push the Federal Reserve to resume raising interest rates in July. The unexpected decline in applications reported by the Labor Department on Thursday reversed a recent jump,…
Nvidia Reacts to Possible US Chip Restrictions to Beijing
June 30, 2023
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Nvidia is downplaying possible U.S. chip-export restrictions to China by the Biden administration. The Wall Street Journal reported on June 27 that the White House was mulling even more restrictions on artificial intelligence (AI) chip exports to China. A potential chip ban could affect Nvidia’s status as the world’s leader for the graphics processors needed to…
Dollar Firm Ahead of PCE Numbers, Briefly Pokes Head Above 145 Yen
SINGAPORE/LONDON—The yen briefly weakened past the closely watched 145 per dollar level on Friday although traders’ fears of intervention by Japanese authorities kept it in check, while the dollar was also strong more broadly ahead of U.S. inflation data. Barring unexpected interventions, the day’s main event for FX markets is the U.S. personal consumption expenditure…
Oil Heads for 4th Straight Quarterly Decline
LONDON—Oil prices declined towards $74 a barrel on Friday and were on course for a fourth consecutive quarter of losses amid concerns over sluggish global economic activity and fuel demand. Benchmark Brent crude futures for September delivery were down 5 cents, or 0.1 percent, at $74.46 a barrel by 1120 GMT after earlier rising by…
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