Month: February 2022

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about

By DAMIAN J. TROISE AP Business Writer Stocks fell on Wall Street as Facebook parent company Meta plunged 24.9%, erasing more than $220 billion in market value, the largest drop in history. Meta sank after forecasting revenue well below analysts’ expectations, a disappointment for a company that investors have become accustomed to delivering spectacular growth.

By STAN CHOE AP Business Writer NEW YORK (AP) — Stocks have swerved scarily this year, with big swings and sharp drops. It’s particularly jarring for the millions of people who got their first taste of investing in recent years. The average day last month saw a swing twice as big for the S&P 500

The Associated Press DETROIT (AP) — Stellantis is recalling nearly 202,000 Ram heavy-duty pickups and chassis cabs to tighten a loose nut that can stop the windshield wipers from working properly. The recall covers certain Ram 2500 and 3500 pickups and some 3500, 4500 and 5500 chassis cabs. They’re all from 2019 and 2020, and

By KATHLEEN FOODY and JILL BLEED Associated Press CHICAGO (AP) — A major winter storm has left about 350,000 homes and businesses without power across the U.S. The multiday storm dumped more than a foot of snow in parts of the Midwest and caused a tornado in Alabama that killed one person and critically injured

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The head of the European Central Bank says record inflation could linger for “longer than expected” and avoided repeating that an interest rate increase was all but ruled out this year. Asked twice by journalists Thursday, Christine Lagarde declined to reiterate her previous statement that

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Pushing back against critics, a key nominee to the Federal Reserve’s Board of Governors says in testimony before a Senate panel that she would not make it harder for any industry to obtain bank loans. Sarah Bloom Raskin, a former Fed governor and deputy Treasury Secretary,