HONG KONG (AP) — China's economic growth missed forecasts in the second quarter of the year, adding to worries over surging youth unemployment and a weak property sector and raising the likelihood the government will double down on support for the faltering post-COVID-19 recovery.
NEW YORK (AP) — It's not just you. Sriracha is hard to come by these days — at least for one popular brand. The shortage of Huy Fong Foods' Sriracha, the beloved red hot sauce packaged in those green-capped bottles, isn't new — with the company pointing to a scarcity of chile pepper supply for several years now. And as frustrated fans continue to face store shelves missing the Huy Fong name, third-party resellers are punching up prices.
Delta Air Lines executives say they’re not seeing the drop in average airfares that federal officials believe are contributing to lower inflation. The Labor Department's latest consumer price index this week showed average airfares falling 8% from May to June on a seasonally adjusted basis.
Delta Air Lines reported unprecedented quarterly profit and revenue Thursday and raised its expectations for a year after travelers took to the skies in huge numbers, defying some forecasts of a pullback in spending. Revenue soared almost 13% to $15.58 billion, a surprising jump even for a carrier that has outperformed consistently.
WASHINGTON (AP) — A group of congressional Democrats reported Wednesday that three large tax preparation firms sent “extraordinarily sensitive” information on tens of millions of taxpayers to Facebook parent company Meta over the course of at least two years. Their report urges federal agencies to investigate and potentially go to court over the wealth of information that H&R Block, TaxAct and Tax Slayer shared with the social media giant.
WASHINGTON (AP) — Inflation in the United States has reached its lowest point in more than two years — 3% in June compared with 12 months earlier — a sign that the Federal Reserve’s interest rate hikes have steadily slowed price increases across the economy. The inflation figure the government reported Wednesday was down sharply from a 4% annual rate in May, though still above the Fed’s 2% target rate.
A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard. Regulators sought to ax the deal saying it will hurt competition.
NEW YORK (AP) — Bank of America will reimburse customers more than $100 million and pay $150 million in fines for “double-dipping” on overdraft fees, withholding reward bonuses on credit cards and opening accounts without customer consent.
NEW YORK (AP) — An influencer-backed energy drink that has earned viral popularity among children is facing scrutiny from lawmakers and health experts over its potentially dangerous levels of caffeine.
LOS ANGELES (AP) — Would-be homebuyers are taking on sharply higher mortgage payments, even as home prices have begun to pull back this year. The median monthly payment listed on applications for home purchase loans jumped 14.1% in May from a year earlier to an all-time high $2,165, according to the Mortgage Bankers Association. The May figure also represents a 2.5% increase from April.