U.S. inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from…
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It’s been a difficult year for the U.S. economy. While consumer spending remains strong, and there are nearly twice as many open jobs as people looking for work, inflation is at its highest level in decades.
But the Federal Reserve, which sets the nation’s monetary policy, took another step in its attempt to curb those economic strains on Wednesday by raising interest rates th…
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Audrey Leighton Rogers was relieved that she launched her fall collection last week, and not on Monday. Rogers, a Barcelona-based clothing designer and vintage curator, gets 95% of the traffic to her site from Instagram. These days, her income is, she says, 100% dependent on the audience she has built over a decade on the app. And on Monday, when Instagram, Facebook and WhatsApp experienced a g…
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On Tuesday, oil and gas giant BP announced plans to slow its transition away from oil. The move sparked outrage from climate activists, but it shouldn’t have come as a surprise.
Two and a half years ago, after BP announced perhaps the most aggressive plans of any major oil and gas company yet to move away from fossil fuels, I asked Bernard Looney, the company’s CEO, about the …
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OnlyFans, the subscriber-based social media platform, sparked outrage last week when it announced it would ban “sexually explicit” content on Oct. 1. The platform, where sex workers, influencers, and celebrities charge subscribers for access to photos and videos, attributed the decision to pressure from banks and payment processors.
Yet, within a matter of days the company bac…
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From the outset, the planners of the coming United Nations climate conference in Dubai, known as COP28, have worked to put the private sector at its center. The United Arab Emirates has become a wealthy country and global player not only because of its oil wealth but also through a foc…
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The Federal Reserve raised interest rates by 0.5%-points last week. That should be the last such raise.
The Core CPI—consumer prices with the volatile food and energy sectors taken out—rose by only 0.2% in America in November. That would be a 2.4% annual rate. Food and energy inflation came out lower. The Headline CPI—the entire index—rose by only 0.1% in November.…
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