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Articles filed under Economy

When an Illinois lawmaker tries to 'win' a tax, guess who loses?

Mar 19, 2023 1:00 AM - We hear a lot of talk about businesses leaving Illinois. But addressing the problems that cause them to leave? Not so much.
FACT CHECK: Were 'woke' policies to blame for bank's demise?

By PHILIP MARCELO
Mar 16, 2023 3:26 PM - As Wall Street reels from the swift demise of Silicon Valley Bank -- the biggest American bank failure since the 2008 financial meltdown -- some social media users are honing in on a single culprit: its socially aware, or "woke," agenda. But the Santa Clara-based institution's professed commitment to diversity, equity and inclusion, or DEI, wasn't a driver of the bank's collapse, say banking and financial experts.
Yellen tells Congress US banking system 'remains sound'

By FATIMA HUSSEIN
Mar 16, 2023 3:21 PM - A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen told the Senate Finance Committee on Thursday that the nation's banking system "remains sound" and Americans "can feel confident" about their deposits.
Experts, banks look for ideas to stop next bank failure

By PAUL WISEMAN and KEN SWEET
Mar 16, 2023 3:21 PM - The warning signs were all there. Silicon Valley Bank was expanding at a breakneck pace and pursuing wildly risky investments in the bond market. The vast majority of its deposits were uninsured by the federal government, leaving its customers exposed to a crisis. None of this was a secret. Yet bank supervisors at the Federal Reserve Bank of San Francisco and the state of California did nothing as the bank rolled over the cliff.
U.S. jobless aid claims fell last week as layoffs remain low

By MATT OTT
Mar 16, 2023 1:09 PM - Fewer Americans applied for jobless claims last week as the labor market continues to thrive despite the Federal Reserve's efforts to cool the economy and tamp down inflation.
Retail sales dip 0.4% in February after buying burst in January

By ANNE D'INNOCENZIO
Mar 15, 2023 9:44 AM - America's consumers trimmed their spending in February after a buying burst in January, underscoring the volatility of the economic environment.
U.S. wholesale inflation fell last month on lower food costs

By CHRISTOPHER RUGABER
Mar 15, 2023 9:28 AM - Wholesale price increases in the United States slowed sharply last month as food and energy costs declined, a sign that inflationary pressures may be easing as the Federal Reserve considers whether to keep raising interest rates to fight higher prices.
U.S. inflation eases but stays high, putting Fed in tough spot

By CHRISTOPHER RUGABER
Mar 14, 2023 10:34 AM - U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.
Applications for US jobless aid rise by most in 5 months

By MATT OTT
Mar 9, 2023 8:35 AM - The number of Americans applying for unemployment benefits last week jumped by the most in five months, but layoffs remain historically low as the labor market continues to be largely unaffected by the Federal Reserve's interest rate hikes.
French strikers renew pressure on Macron to ax pension plan

By SYLVIE CORBET and ALEXANDER TURNBULL
Mar 8, 2023 11:50 AM - Tens of thousands of people marched in Paris and other cities across the country Wednesday to denounce the government's pension plan as unfair to female workers, in demonstrations meant to coincide with International Women's Day.

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