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Business

Fed: On track to slow support for economy later this year

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell signaled Wednesday that the Fed plans to announce as early as November that it will start withdrawing the extraordinary support it unleashed after the coronavirus paralyzed the economy 18 months ago. Powell said that if the job market ...

U.S. sues to stop deal between American Airlines and JetBlue

The Justice Department and officials in six states have filed a lawsuit to block a partnership formed by American Airlines and JetBlue, claiming that it will reduce competition and lead to higher fares. The Justice Department said Tuesday that the agreement will eliminate important competition ...

After Hurricane Ida outages, utility proposals include city takeover

NEW ORLEANS (AP) — Amid calls for investigations following major power losses during Hurricane Ida, the power company subsidiary that provides electric service to New Orleans said Tuesday it’s ready to discuss having the city assume control of the municipal power system. That’s one of ...

Stocks drop the most since May on worries over China, the Fed

NEW YORK (AP) — Stocks on Wall Street closed sharply lower Monday, mirroring losses overseas and handing the S&P 500 index its biggest drop in four months. Worries about heavily indebted Chinese real estate developers — and the damage they could do to investors worldwide if they ...

France recalls ambassadors to U.S., Australia over sub deal

PARIS (AP) — French Foreign Minister Jean-Yves Le Drian said Friday evening that France is immediately recalling its ambassadors to the U.S. and Australia in a backlash over a submarine deal. Le Drian said in a statement that the decision, on request from President Emmanuel Macron, “is ...

FDA advisory panel rejects widespread Pfizer booster shots

WASHINGTON (AP) — An influential federal advisory panel has soundly rejected a plan to offer Pfizer booster shots against COVID-19 to most Americans. The vote Friday, 16-3, was a blow to the Biden administration’s effort to shore up people’s protection against the virus amid the highly ...