Consumer prices climbed 4.9% in April — the first time annual inflation has landed below 5% in two years. On a monthly basis, the inflation rate rose 0.4%, which was higher than the 0.1% in…
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Business
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Worries about money are taking a toll on Americans, leading to some negative impacts on their mental health. That’s according to a new survey from the financial information group Bankrate. The survey found 52% of…
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Tempur Sealy International said on Tuesday it would buy retailer Mattress Firm in a cash-and-stock deal valued at about $4 billion, as the leading U.S. bedding maker looks to stem a post-pandemic decline in sales. Mattress…
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Business
Flush with cash, the IRS is offering a more accurate picture of when the U.S. will hit debt ceiling
That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit. The funding increase has helped the agency to catch up on processing new and backlogged tax returns.…
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Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates of 180,000, according to the…
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Consumers who recently filed tax returns with TurboTax but were eligible for the Internal Revenue Service’s Free File program will soon start receiving checks as part of a multistate settlement with TurboTax’s parent company, Intuit.…
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Congress and the White House barrel toward a June 1 deadline to resolve a debate over the debt ceiling, putting the credit and trust of the United States on the line. Treasury Secretary Janet Yellen…
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Business
Warren Buffett says bank runs would have been ‘catastrophic’ without government intervention
Warren Buffett, chairman and CEO of Berkshire Hathaway, praised the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis. Yet he said the U.S. banking…
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Business
Jenny Craig employees file a class-action lawsuit claiming the company violated the WARN Act
Jenny Craig employees are seeking to join a class-action lawsuit alleging the company violated federal and state WARN Acts, which require companies to give employees a 60-day notice ahead of any mass layoffs or facility…
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The Federal Reserve announced Wednesday it was raising its key federal funds rate to more than 5% — a 16-year high — as it continues its firefight against persistent inflation. In a statement announcing the…