Skip to main contentSkip to main content
Updating results

Business

IMSA is bringing North American sports car racing into the hybrid era starting with Saturday's Rolex 24 at Daytona. The twice-round-the-clock endurance race will be the first to use new hybrid engines in the top class. It makes IMSA the first North American racing series to use hybrid technology. The change lured new manufacturers to the class as automakers craved the pairing of a motorsports program that is in step with its road car program. 

  • Updated

The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership. The decision deals a setback to the crypto industry’s attempts to build acceptance in mainstream U.S. banking. Many in crypto were looking to Cheyenne-based Custodia Bank’s application as a bellwether. Approval would have meant access to Federal Reserve services including its electronic payments system. The denial announced Friday adds to doubts about crypto banking’s viability. The Federal Reserve Board says in a statement that the crypto bank would've been risky for depositors. Custodia CEO Caitlin Long denies that, saying in a statement that the application went “above and beyond all requirements.”

  • Updated

Amazon is axing free grocery delivery for Prime members on orders less than $150. In an email to Prime members Friday, Amazon said customers who get their groceries delivered from Amazon Fresh — and pay less than $150 — will be charged between $3.95 and $9.95 depending on the order size. The new policy starts February 28. Currently, the company offers Prime members free grocery delivery on orders above $35, with the exception of New York, where it’s $50. The decision to impose new fees comes as Amazon attempts to trim costs amid a hazy economic environment.

  • Updated

Tesla CEO Elon Musk and top aides to President Joe Biden have met in Washington to discuss electric vehicles. White House press secretary Karine Jean-Pierre says Musk did not meet with the president. Instead, Biden aides Mitch Landrieu and John Podesta sat down with the Tesla chief on Friday to discuss how recently enacted infrastructure and climate legislation can help grow the EV industry and electrification more broadly. Landrieu oversees federal spending on infrastructure, including help for the electric vehicle industry, while Podesta is the president's point man on federal spending on climate and clean energy initiatives.

  • Updated

FRIDAY, Jan. 27, 2023 (HealthDay News) -- The U.S. Food and Drug Administration said Thursday it cannot regulate cannabidiol (CBD) supplements because there is not enough evidence on their safety. The agency also called on Congress to create new rules for what has become a burgeoning industry.

  • Updated

Stocks closed higher on Wall Street, marking the market's third winning week in the last four. The S&P 500 rose 0.2% Friday after giving up most of an earlier gain. The Nasdaq composite climbed 0.9%, and the Dow ended up about 0.1%. American Express helped lead the way. It jumped after giving a profit forecast that topped expectations. Next week could be even busier for markets. The Federal Reserve is expected to announce its latest increase to interest rates. A report on Friday showed that inflation is continuing to cool, raising hopes for a smaller increase that's less painful.

  • Updated

For all the sound and fury about raising the nation's debt limit, most economists say federal borrowing is not at a crisis point. At least, not yet. The national debt is nonetheless at the core of a dispute about how to raise the government’s legal borrowing authority. That issue could come to a head this summer if the government runs out of accounting maneuvers to keep paying its bills. The political jousting masks a tough reality: Today’s $31.4 trillion national debt does not appear to be a weight on the U.S. economy, but its path in the decades to come might put at risk national security and major programs such as Social Security and Medicare.

  • Updated

For the second time this month, House Republicans have advanced a measure to restrict presidential use of the nation’s emergency oil stockpile — a proposal that has already drawn a White House veto threat. A GOP bill approved Friday would require the government to offset any non-emergency withdrawals from the Strategic Petroleum Reserve with new drilling on public lands and oceans. Republicans accuse President Joe Biden of abusing the reserve for political reasons to keep gas prices low, while Biden says tapping the reserve was needed last year in response to a ban on Russian oil imports following Russia's invasion of Ukraine. The bill was approved on a near party-line vote. It now heads to the Democratic-controlled Senate, where it is expected to languish.

  • Updated

Debts brought into a relationship can be ruinous for couples, but many decide to work as a team to conquer individual debts. You can help your partner in nonmonetary ways as an accountability buddy. You can also assist financially by gifting or loaning money, or covering more household costs while your partner focuses on making debt payments. But if you’re helping pay off a debt that’s 100% your partner’s responsibility, it’s important to consider how to keep things fair and not put your relationship — and your own finances — at risk.

  • Updated

Tech and media layoffs have gotten the most headlines lately. But combined, the two high-profile industries account for only about 5% of U.S. employment, according to the U.S. Census Bureau.Other industries are also cutting jobs, including the auto industry, manufacturing and financial services. Unemployment is expected to deepen as the Fed slows the economy in...

  • Updated

South Korea says it will continue to restrict the entry of short-term travelers from China through the end of February over concerns that the spread of COVID-19 in that country may worsen following the Lunar New Year’s holidays. South Korea had stopped issuing most short-term visas at its consulates in China in early January. It did so after the virus surged in China late last year and the government there abruptly lifted most of its COVID-19 restrictions. South Korea and other countries are worried the surge could create new variants of the coronavirus. In retaliation to Seoul's move, China also suspended South Korean short-term visa applications.

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News