The US Bureau of Economic Analysis released its personal consumption expenditures (PCE) price index data for April on Friday (May 31). The release shows that PCE remained steady on both a monthly and yearly basis, matching the March rises of 0.3 percent and 2.7 percent, respectively. Core PCE, which excludes…
Once assumed to be years away, a surprising turn of events has fast-tracked the US approval process for spot Ether exchange-traded funds (ETFs), suggesting that they could begin trading by the end of Q2 or the beginning of Q3. Elsewhere, Big Tech’s most prominent players came together this week to…
U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to…
Nissan has issued a ‘do not drive’ warning for about 84,000 older-model vehicles because they carry recalled Takata-made airbags. The warning affects certain model year 2002-2006 Nissan Sentra, 2002-2004 Nissan Pathfinder and 2002-2003 Infiniti QX4 vehicles. The National Highway Traffic Safety Administration instructed drivers in a release not to drive…
A top McDonald’s executive is weighing in on claims that the company has jacked up its prices. Joe Erlinger, president of McDonald’s USA, said in an open letter Wednesday that the average price of McDonald’s menu items is up around 40% since 2019. The breakdown comes in response to claims on social media from House…
Orange juice prices have climbed to fresh all-time highs amid persistent supply constraints, pushing the industry into crisis mode and forcing some makers to consider alternative fruits. Prices of the breakfast staple have been climbing rapidly in recent years, partly driven by declining output in Florida — the main producer of orange juice…
The Internal Revenue Service announced Thursday that its experimental Direct File free tax-filing option for simplified tax returns would become a permanent option starting next year. In a release, the IRS, along with the U.S. Treasury Department, said its Direct File pilot program, which rolled out on a limited basis…
Editor’s Note: This story contains graphic and disturbing descriptions of sexual violence. Within an hour of being arrested by Russian security forces, Roman Shapovalenko was threatened with rape. On August 25, 2022, the day after Ukraine’s Independence Day, he said three armed, masked officers from Russia’s Federal Security Service (FSB)…
A volcano in southwestern Iceland erupted Wednesday for the fifth time since December, spewing massive lava flows that threaten to cut off the town of Grindavík and prompting the evacuation of the world-famous Blue Lagoon. Dramatic video and images from the scene showed fountains of red-hot lava shooting into the…
Chinese leader Xi Jinping decried “tremendous sufferings” in the Middle East and called for an international peace conference as leaders from Arab nations visit Beijing this week amid mounting global concern over Israel’s war in Gaza. “Since last October, the Palestinian-Israeli conflict has escalated drastically, throwing the people into tremendous…