As federal officials finalize a long-awaited plan to ban menthol cigarettes, dozens of interest groups have met with White House staffers to try to influence the process, which has the potential to save hundreds of thousands of lives while wiping out billions in tobacco sales. Biden administration officials have heard… Read More
‘Front loading’: Fed signals sharp rate hike next month
The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May. In a panel discussion held by the… Read More
Airlines report profit rebound… but demand not back to normal
U.S. airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic. American Airlines is the latest carrier to give a rosy outlook for the rest of 2022…. Read More
CNN+ dead after just 23 days. Biggest media failure in history?
CNN launched its streaming service, CNN+, on Mar. 29. Three weeks later, the network is already pulling the plug on its $100 million investment — the most spectacular media failure in recent history. On Thursday, CNN’s incoming chief executive Chris Licht issued a memo announcing the plan to shut down… Read More
Average long-term mortgage rates reach 12-year high
Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade. The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday. The last time it was higher was in April of… Read More
13 Larry Nassar victims seek $130M for bungled FBI probe
White is not suing the FBI yet. Under federal law, tort claims must be a filed with a government agency, which then has six months to reply. A lawsuit could follow, depending on the FBI’s response. “No one should have been assaulted after the summer of 2015 because the FBI… Read More
Musk lawyer says gag order would violate free speech
Elon Musk’s lawyer says a federal judge would trample on the Tesla CEO’s free speech rights if he ordered Musk to stop talking about 2018 tweets saying he had the funding to make Tesla a private company. In a court document filed Wednesday, lawyer Alex Spiro says a motion from… Read More
Easter sees rash of virus-themed candles
Inside Greece’s Orthodox churches, candles are a symbol of faith and simplicity, slender and traditionally made of beeswax, and placed in large candleholders filled with sand. Outside, buyers are looking for a wow-factor to go with Easter gifts: They are sold with dolls, watches and karaoke microphones, or fashioned using… Read More
Struggling Netflix aims to curtail password sharing, considers ads
An unexpectedly sharp drop in subscribers has Netflix considering changes it has long resisted: Minimizing password sharing and creating a low-cost subscription supported by advertising. Looming changes announced late Tuesday are designed to help Netflix regain momentum lost over the past year. Pandemic-driven lockdowns that drove binge-watching have lifted, while… Read More
Dems wild 2022 election plan leaks
by Frank Holmes, reporter Democrats have a serious problem on their hands in this November’s midterm elections: In order to save their job, they have to say that they’re doing great. Everything — from inflation, to immigration, to keeping kids masked in public — says that’s not going to work…. Read More
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