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Business

Bed Bath & Beyond eyes more layoffs as 3Q sales tank

Bed Bath & Beyond’s fiscal third-quarter sales fell by a third as the home goods company struggles to strike the right balance with its shoppers, a sign of its worsening outlook. The company, which has already been cutting costs, said Tuesday it will slash an additional $80 million to ...

Egypt’s inflation surges on amid currency’s dramatic slide

CAIRO (AP) — Egypt continues to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes, the country’s statistics bureau said Tuesday. The state-run Central Agency for Mobilization and Statistics released figures showing that the annual ...

Cooler hiring and milder pay gains could aid inflation fight

WASHINGTON (AP) — America’s employers added a solid 223,000 jobs in December, evidence that the economy remains healthy even as the Federal Reserve is rapidly raising interest rates to try to slow economic growth and the pace of hiring. With companies continuing to add jobs across the ...

Biden signs bill to ease costs for prisoner calls to family

WASHINGTON (AP) — President Joe Biden on Thursday signed into law a bill aimed at easing the cost for prisoners to call family and friends. The legislation clarifies that the Federal Communications Commission, which regulates interstate and international communications through cable, radio, ...

Another hot reading on job market sends Wall Street lower

Stocks fell broadly on Wall Street and Treasury yields rose Thursday after another hot reading on the job market raised worries that the Federal Reserve will need to keep inflicting pain on the economy to fight inflation. The S&P 500 fell 1.2%, clawing back all of its gains from a day ...

EU urges pre-flight COVID-19 tests on passengers from China

BRUSSELS (AP) — The European Union on Wednesday “strongly encouraged” its member states to impose pre-departure COVID-19 testing of passengers from China, in a move that is likely to upset Beijing and has already been criticized by the global airline industry. Following a week of talks ...