Category Archives: World/National

Wall Street ticks up to another record as GM and others show how tariffs are impacting them

Wall Street ticks up to another record as GM and others show how tariffs are impacting them

NEW YORK (AP) — Wall Street inched to another record following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Donald Trump’s tariffs are hurting or helping them. The S&P 500 rose 0.1% Tuesday to beat the all-time high it set a day earlier. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite fell 0.4% from its record. General Motors dropped despite reporting a stronger profit than expected, as it still sees a $4 billion to $5 billion hit this year because of tariffs. Homebuilders soared following their better-than-forecast profit reports. Treasury yields eased.… Continue Reading

The government was once a steady partner for nonprofits. That’s changing

The government was once a steady partner for nonprofits. That’s changing

In his second term, President Donald Trump has cut a huge range of federal grants that fund social services. The cuts are disrupting the decades-long partnerships between the government and nonprofits. An Urban Institute analysis shows the scale and breadth of that relationship. In 2021, nonprofits received $267 billion in grants from all levels of government grants. More than half of nonprofits would face budget deficits without this funding. Nonprofits across the U.S. are struggling to adapt, with some forced to restructure or reduce services. Leaders warn that private donations cannot replace the scale of government support.… Continue Reading

House ending session early as Republicans clash over Epstein vote

House ending session early as Republicans clash over Epstein vote

WASHINGTON (AP) — The House is leaving Washington early as Republicans clash over the Jeffrey Epstein files. House Speaker Mike Johnson is rebuffing pressure to act on the investigation into Epstein as some Republicans push for a vote on the matter. Johnson said Tuesday morning that he wants to give the White House “space” to release the Epstein information on its own. The speaker’s stance seemed unlikely to satisfy many Republicans who are threatening to support a bipartisan bill to pry information from the Justice Department. Even before Johnson spoke, a Republican-controlled committee was advancing a resolution to subpoena Epstein’s former girlfriend Ghislaine Maxwell.… Continue Reading

Trump administration releases FBI records on MLK Jr. despite his family’s opposition

Trump administration releases FBI records on MLK Jr. despite his family’s opposition

Martin Luther King Jr.’s two living children are urging people to tread lightly with a newly released trove of records related to their father’s assassination. Martin Luther King III and Bernice King opposed the Trump administration’s decision to release more than 240,000 pages of records concerning the slain civil rights leader. King’s children noted that their father was the victim of sometimes illegal surveillance by then-FBI chief J. Edgar Hoover, who viewed King as a radical. Some civil rights activists said Trump is using the King files to distract from his own troubles related to Jeffrey Epstein.… Continue Reading

US stocks set more records as Verizon begins a big week for profit reports with a beat

US stocks set more records as Verizon begins a big week for profit reports with a beat

NEW YORK (AP) — U.S. stocks are rising toward more records ahead of a week full of profit updates from big U.S. companies. The S&P 500 rose 0.6% Monday and was above its all-time high set on Thursday. The Dow Jones Industrial Average climbed 217 points, and the Nasdaq composite added 0.7% to its own record. Verizon Communications helped lead the way following its better-than-expected profit report. Other market heavyweights slated to report their results for the spring this week include Alphabet, Coca-Cola and Tesla. Stock indexes were mixed in Europe but rose in much of Asia, while Treasury yields eased in the bond market.… Continue Reading

Beef prices have soared in the US — and not just during grilling season

Beef prices have soared in the US — and not just during grilling season

OMAHA, Neb. (AP) — Anyone firing up the grill this summer already knows hamburgers and steaks are expensive, but the latest numbers show prices have climbed to record highs. And experts say consumers shouldn’t expect much relief soon either. According to U.S. government data, the average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. But this is not a recent phenomenon. Beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. That’s not likely to change.… Continue Reading

Chevron gets go ahead for $53B Hess deal, and access to one of the biggest oil finds this decade

Chevron gets go ahead for $53B Hess deal, and access to one of the biggest oil finds this decade

HOUSTON (AP) — Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris. Exxon had challenged Chevron’s bid for Hess, one of three companies with access to the massive Stabroek Block oil field off the coast of Guyana. Guyana is a country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years.… Continue Reading

Wall Street hangs near its record as PepsiCo and United Airlines fly and health care stocks sink

Wall Street hangs near its record as PepsiCo and United Airlines fly and health care stocks sink

NEW YORK (AP) — Wall Street is hanging near its records following some better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies. The S&P 500 rose 0.2% Thursday and was just below its all-time high set last week. The Dow Jones Industrial Average added 59 points, and the Nasdaq composite tacked 0.1% onto its record set the day before. PepsiCo jumped after delivering revenue and profit that topped Wall Street’s expectations. That helped offset drops for some big health care companies following their latest profit reports. Treasury yields were mixed after better-than-expected reports on retail sales and unemployment claims.… Continue Reading

An Alaska tsunami warning had residents scrambling for high ground after 7.3 magnitude earthquake

An Alaska tsunami warning had residents scrambling for high ground after 7.3 magnitude earthquake

ANCHORAGE, Alaska (AP) — Communities along a 700-mile stretch of Alaska’s southern coast ordered their residents to higher ground after a powerful earthquake, but officials quickly downgraded and then canceled a tsunami warning in the area. There were no immediate reports of significant damage. Officials said the earthquake, with a preliminary magnitude of 7.3, struck at 12:37 p.m. local time south of Sand Point. The first waves were projected to land there, but the state’s emergency management division said an hour after the quake that it had received no reports of damage. The earthquake was reportedly felt as far away as Anchorage, almost 600 miles to the northeast.… Continue Reading

Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

WASHINGTON (AP) — President Donald Trump says he’s “highly unlikely” to fire Federal Reserve Chair Jerome Powell. His public statement Wednesday came less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing Powell. Trump confirmed to reporters that in a White House meeting Tuesday night with about a dozen House Republicans, he’d discussed the “concept” of dismissing Powell. The Fed chair has long been a target because of his refusal to lower interest rates as Trump wants. Trump’s team recently has accused Powell of mismanaging a $2.5 billion renovation project at the Fed. Trump said Wednesday he’s “highly unlikely” to dismiss Powell — ”unless he has to leave for fraud.”… Continue Reading

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