WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. Friday’s report from the government reflected the job ...
NEW YORK (AP) — Wall Street rose Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 rallied 1% after a suite of reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and retailers are seeing shoppers under pressure. Altogether, investors saw the data pushing the Fed toward not hiking rates at its meeting in two weeks, which would be the first time that's happened in more than a year. The Nasdaq composite led the market with a 1.3% jump. It's full of technology ...
After ballooning for years, CEO pay growth is finally slowing. The typical compensation package for chief executives who run S&P 500 companies rose just 0.9% last year, to a median of $14.8 million, according to data analyzed for The Associated Press by Equilar. That means half the CEOs in ...
A federal appeals court cleared the way for the maker of OxyContin to settle thousands of legal claims tied to the opioid epidemic while shielding the wealthy owners of Purdue Pharma, the Sackler family, from future lawsuits. Under the plan approved Tuesday by the 2nd U.S. Circuit Court of Appeals in New York, members of the wealthy Sackler family would give up ownership of Stamford, Connecticut-based Purdue, which would become a new company known as Knoa, with its profits being sent to a fund to prevent and treat addiction. Family members would also contribute $5.5 billion to $6 ...
WASHINGTON (AP) — House Republicans pushed debt ceiling talks to the brink on Thursday, displaying risky political bravado in preparing to leave town for the holiday weekend just days before the U.S. could face an unprecedented default hurling the global economy into chaos. However, Speaker Kevin McCarthy also said he had directed his negotiating team “to work 24/7 to solve this problem.” At the Capitol, McCarthy, R-Calif., said that “every hour matters” in talks with President Joe Biden’s team as they try to work out a budget agreement. Republican are demanding spending ...
WASHINGTON (AP) — House Speaker Kevin McCarthy said Wednesday he was sending Republican negotiators to the White House to finish out debt limit talks, but warned that the two sides are “still far apart” as they try to reach a budget deal with President Joe Biden. McCarthy said he remained optimistic they could make progress in hopes of an agreement before a deadline as soon as next week, when the Treasury Department could run out of cash to pay its bills. “We’re not going to default,” said McCarthy, R-Calif. Defiant, the speaker said “it’s not my fault” that ...
