Business News – Page 3 – Deltaplex News

Takeaways from Fed Chair Jerome Powell’s tenure as he steps down

Friday, May 15 by ABC News

(NEW YORK) -- A global pandemic that put millions of Americans out of work within days. The highest inflation in four decades. An unprecedented federal criminal investigation.Fed Chair Jerome Powell faced a succession of crises over his 8-year tenure atop the central bank, which... Read More.

Dow crosses 50,000 as investors eye Trump-Xi summit

Thursday, May 14 by ABC News

(NEW YORK) -- The Dow Jones Industrial Average on Thursday crossed above 50,000, shrugging off a renewed bout of inflation and an apparent impasse in negotiations over the Iran war.The rise in shares came as President Donald Trump visited Chinese President Xi Jinping in... Read More.

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Senate confirms Fed chair nominee Kevin Warsh, ending standoff over Powell probe

Wednesday, May 13 by ABC News

(WASHINGTON) -- The Senate voted Wednesday to confirm Federal Reserve chair nominee Kevin Warsh, clearing the way for Warsh to replace central bank head Jerome Powell when his term ends later this week.The Senate confirmed Warsh by a vote of 54 to 45.... Read More.

Inflation jumps to its highest level in three years

Wednesday, May 13 by ABC News

(NEW YORK) -- Inflation rose for a second consecutive month as the U.S.-Israeli war with Iran continued to send gasoline prices surging in April, government data on Tuesday showed. The inflation report matched economists' expectations.Prices rose 3.8% in April compared to a year earlier,... Read More.

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Inflation report to show latest prices as fuel costs surge amid Iran war

Tuesday, May 12 by ABC News

(NEW YORK) -- An inflation report on Tuesday will provide a fresh gauge of prices as the Iran war ratchets up costs for gasoline, airfares and other expenses.Economists expect consumer prices to have risen 3.8% in April, when a surge in gasoline costs took... Read More.

Soaring fuel costs draw attention to higher prices at name-brand gas stations

Tuesday, May 12 by ABC News

(LOS ANGELES) -- A Chevron gas station in Los Angeles elicited headlines in recent weeks for charging an eye-popping $8.71 a gallon, becoming an emblem for the spike in fuel costs set off by the Iran war.Sky-high gas prices nationwide owe primarily to a... Read More.

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DOJ reaches $30 million deal with PayPal over minority-owned business program

Tuesday, May 12 by ABC News

(WASHINGTON) -- PayPal has agreed to waive $30 million in processing fees in order to resolve a federal investigation into an investment program that sought to boost Black and minority-owned businesses, the Justice Department announced Tuesday.The probe is just one of a number launched... Read More.

Jobs report showed hiring slowed, but exceeded expectations

Friday, May 8 by ABC News

(NEW YORK) -- Hiring slowed in April as a rise in fuel prices hammered shoppers weeks into the war with Iran, U.S. government data on Friday showed.The U.S. added 115,000 jobs in April, according to the report, which marked a cooldown from 178,000 jobs... Read More.

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Apple’s $250 million class-action settlement paves way for payouts to iPhone owners

Wednesday, May 6 by ABC News

(NEW YORK) -- Apple has agreed to settle a class-action lawsuit for $250 million after the tech giant was accused of marketing Apple Intelligence technologies that "did not exist" yet, according to a Tuesday court filing.The settlement paves the way for payouts of up... Read More.

Is California at risk of a gasoline shortage amid the Iran war? Experts explain

Wednesday, May 6 by ABC News

(NEW YORK) -- Sky-high gasoline prices are hammering drivers across the United States as the Iran war chokes off global oil supply. California, however, may be feeling the sting more than anywhere else.The average price of a gallon of gasoline in California clocks in... Read More.

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Airlines reduce, cap fares for Spirit travelers looking to rebook canceled flights

Saturday, May 2 by ABC News

(NEW YORK) -- The Department of Transportation said on Saturday the majority of airlines will be capping tickets prices for Spirit Airlines travelers who need to rebook their canceled flights.Some carriers have even reduced fares on high volume routes where Spirit used to operate.Spirit... Read More.

Trump says announcement expected today on Spirit Airlines deal

Friday, May 1 by ABC News

(WASHINGTON) -- President Donald Trump said an announcement was expected Friday on Spirit Airlines, amid a report that the airline was preparing to cease operations after a $500 million rescue deal fell apart.The Wall Street Journal first reported that the airline is preparing to... Read More.

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