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Who are the winners and losers of the Fed hiking interest rates? The Federal Reserve has hiked its benchmark interest rate by 0.75%. But what does that actually mean for hundreds of millions of Americans – Americans who have jobs, who buy things, who have bank accounts? In short, interest rates are the Federal ...
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Recession fears grow as markets fall, mortgage rates jump following Fed action The Federal Reserve's actions this week to cool the economy appeared to have immediate impact on financial markets Thursday as the stock market slumped and mortgage rates jumped higher. The two developments, which will be felt by consumers and ...
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Formula production at Abbott's Michigan plant delayed after flooding from severe storms (CNN) Abbott has stopped production of EleCare formula in its Sturgis, Michigan, plant after severe storms led to flooding inside the plant, the company said, probably delaying production of new formula for a few weeks. Production at the plant had ...
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Abbott's troubled baby formula factory closed again due to flooding Abbott Nutrition has again halted production at the Michigan plant that helped drive a nationwide baby formula shortage after storms pummeled the region and caused widespread flooding. In a statement issued late Wednesday, the company said it stopped ...
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Revlon files for Chapter 11 bankruptcy protection Revlon has filed for bankruptcy protection as the cosmetic giant attempts to get out from under its heavy debt load amid soaring prices and supply chain disruptions. The company said in a news release that it expects $575 million in financing if the ...
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Ikea packs up Russian operations and plans sale of factories Swedish furniture giant Ikea is folding up its Russian presence, planning to lay off staff, shut offices and sell factories. This adds the world's largest furniture brand to the list of Western corporations fully exiting Russia as the war in Ukraine ...
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Lego will start building its bricks in the United States New York (CNN Business) Lego is planning to spend more than $1 billion to build a factory in the United States. The company announced Wednesday plans for a 1.7-million square foot plant in Virginia, which will employ roughly 1,800 people once its ...
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Pfizer study results show Paxlovid benefit less clear in lower-risk patients Mixed results from a large study of Pfizer's COVID-19 pill Paxlovid signal the antiviral drug's benefit is not as clear-cut in lower-risk or vaccinated adults, although treatment still appears to lessen the need for medical care.
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Northern Ireland Economic Output Statistics Retail output in NI saw a quarterly increase of 2.6% in Quarter 1 2022 and an increase of 7.0% over the year. When comparing current output with the pre-Coronavirus pandemic levels seen in Quarter ...
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New Jersey's Unemployment Rate Falls to 3.9% in May June 16, 2022. TRENTON – Preliminary estimates produced by the U.S. Bureau of Labor Statistics show New Jersey's labor market continued its stretch of job growth and declining unemployment in May as total nonfarm employment increased by 6,700 jobs to ...
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