President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla – by…
Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said Thursday. In remarks that align with a developing expectation in financial markets for fewer rate cuts next year than previously forecast by Fed…
The purchase of Alex Jones ‘ Infowars at a bankruptcy auction by the satirical news publication The Onion is the latest twist in a yearslong saga between the far-right conspiracy theorist and families of Sandy Hook Elementary School shooting victims. The sale was ordered after relatives of many of the 20 children and six educators…
AACHEN, Germany — Hundreds of curious shoppers, some equipped with camping stools and rain gear, lined up for hours on a drizzly Thursday in the western German city of Aachen. They weren’t waiting for the latest phone or luxury handbag release: they were after a taste of a new chocolate bar. Swiss chocolate giant Lindt…
Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next WASHINGTON — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut…
MINNEAPOLIS — Smithfield Foods, one of the nation’s largest meat processors, has agreed to pay $2 million to resolve allegations of child labor violations at a plant in Minnesota, officials announced Thursday. An investigation by the Minnesota Department of Labor and Industry found that the Smithfield Packaged Meats subsidiary employed at least 11 children at…
The Boar’s Head listeria outbreak has slashed demand for cold cuts industrywide — and experts warn that sales could languish for a year or more as consumers struggle to shake off anxiety over tainted deli meat. The century-old Boar’s Head brand — whose July listeria outbreak at a Virginia plant has killed 10 people, sent…
Bluesky, a social media microblogging app reminiscent of rivals X and Threads, has welcomed 1.25 million new users to its platform in the week since the US election. Some of the new users switched to Bluesky to boycott X over billionaire owner Elon Musk’s allegiance to President-elect Donald Trump, according to posts on the app….
HELSINKI — Latvian police said Thursday that criminal proceedings have been initiated against two Lithuanian citizens suspected of counterfeiting Ariel laundry detergent products and distributing them in significant quantities across Europe as part of an organized international crime venture. In November 2023, Latvian police, in cooperation with tax and customs officials, uncovered a large-scale operation…
Ice cream brand Ben & Jerry’s said in a lawsuit filed Wednesday that parent company Unilever has silenced its attempts to express support for Palestinian refugees and threatened to dismantle its board and sue its members over the issue. The lawsuit is the latest sign of the long-simmering tensions between Ben & Jerry’s and consumer products maker Unilever. A rift erupted between…
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