US Producer Prices Soar 10.8% in May as Energy Costs Spike
U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from a bout of inflation that shows no sign of slowing.
U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from a bout of inflation that shows no sign of slowing.
Construction equipment manufacturer Caterpillar says it’s packing up its headquarters from its longtime home state of Illinois and heading to Texas.
Redfin, the Seattle-based real estate brokerage, says it will lay off 8% of its employees as the housing market cools off.
Coinbase Global says it plans to cut about 1,100 jobs, or approximately 18% of its global workforce, as part of a restructuring in order to help manage its operating expenses in response to current market conditions.
For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession.
The price of bitcoin and other cryptocurrencies have tumbled after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions.”.
ATLANTA – The Coca-Cola Co.’s foray into the market for alcoholic beverages is set to continue with the introduction of Jack Daniel’s & Coca-Cola RTD (ready-to-drink), a pre-mixed cocktail. The product was developed in partnership with the Brown Forman Corp., Louisville, the owner of the Jack Daniel’s brand.
CLEVELAND — Fermented foods maker Cleveland Kitchen has closed a $19 million Series A financing led by Amberstone Ventures with participation from existing investor Clover Vitality.
Bottles of the popular Sriracha hot sauce could be hard to find on store shelves this summer.
Average long-term U.S. mortgage rates jumped back up ahead of next week’s Federal Reserve meeting where it’s expected to announce another increase to its main borrowing rate.