(AP) — Arch Resources and Consol Energy are combining to form a single coal producer valued at more than $5 billion, the companies announced Wednesday, the latest consolidation in a deal-happy energy sector. Arch shareholders will get 1.326 shares of Consol common stock for each share of ...
WASHINGTON (AP) — Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast ...
WASHINGTON (AP) — Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation. Now, it’s the health of the job market that’s starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring slowing and the ...
NEW YORK (AP) — U.S. stocks ticked lower Tuesday and snapped an eight-day winning streak, the longest of the year. The S&P 500 slipped 0.2%, but it’s still just 1.2% below its all-time high set last month. It has roared back from its scary summer drop, where the index briefly dropped nearly 10% below its record. The Dow Jones Industrial Average fell 61 points, or 0.2%, and the Nasdaq composite slipped 0.3%. Nvidia was the heaviest weight on the market after falling 2.1%. The chip company is one of Wall Street’s most influential stocks because a frenzy around ...
NEW YORK (AP) — U.S. stocks rallied Thursday in Wall Street’s latest sharp swerve after a better-than-expected report on unemployment eased worries about the slowing economy. The S&P 500 jumped 2.3% for its best day since 2022 and shaved off all but 0.5% of its loss from what was a ...
NEW YORK (AP) — Former Mozambican Finance Minister Manuel Chang was convicted Thursday in a financial conspiracy case that welled up from from his country’s “ tuna bond “ scandal and swept into a U.S. court. A federal jury in New York delivered the verdict. Chang was accused of accepting payoffs to put his African nation secretly on the hook for big loans to government-controlled companies for tuna fishing ships and other maritime projects. The loans were plundered by bribes and kickbacks, according to prosecutors, and Mozambique ended up with $2 billion in “hidden debt,” ...
