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National News

Fewer people seek US unemployment aid amid solid hiring

WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy. Applications for unemployment benefits for the week ending Sept. 24 fell by 16,000 to 193,000, the Labor Department ...

Bed Bath & Beyond 2Q sales fall but meet Street’s view

Bed Bath & Beyond's sales declined 28% in its fiscal second quarter, but the performance managed to meet Wall Street's expectations. The Union, New Jersey-based home goods retailer reported sales of $1.44 billion for the three months ended Aug. 27. That compares with sales of $1.99 billion ...

US economy drops at 0.6% annual rate from April through June

WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic ...

Homeowners see slower equity gains as housing market cools

LOS ANGELES (AP) — Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools. Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic. That works out to ...

US long-term mortgage rates up for 6th week; 30-year at 6.7%

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year ...

Treasury moves forward with database on corporate ownership

WASHINGTON (AP) — Tens of millions of small U.S. companies will be required to provide the government with details on their owners and others who benefit from them under a regulation finalized Thursday that's intended to peel back the layers of ownership that can hide unlawfully obtained ...

Buffett’s company buys nearly 6M more Occidental shares

OMAHA, Neb. (AP) — Warren Buffett's company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21% of the oil producer. These are the first purchases Berkshire Hathaway has made since regulators gave it approval last month to buy up to ...

EXPLAINER: How do we know when a recession has begun?

WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession. At the same time, the number of people seeking unemployment benefits — a figure that often ...

Pumpkin farms adapt to improve soil, lower emissions

ATLANTA, Illinois (AP) — This Thanksgiving, your pumpkin pie might have a lower carbon footprint. On the central Illinois farms that supply most of the world's canned pumpkin, farmers are adopting regenerative techniques designed to reduce emissions, attract natural pollinators like bees and ...

Michigan Supreme Court takes major car insurance case

LANSING, Mich. (AP) — The Michigan Supreme Court agreed Thursday to decide whether major changes in car insurance law apply to people who were catastrophically injured before summer 2019. The case is being closely watched by insurers, health-care providers and long-term victims of ...

Report: Women gained fewer US company board seats in 2022

NEW YORK (AP) — U.S. companies have added women to their boards of director at a slower pace this year compared with last year as the pandemic and a difficult economy shift priorities, according to a new report released Thursday. Women have continued to make gains, now holding a record 28% ...

Detroit begins demolition of blighted Packard car plant

DETROIT (AP) — Demolition of the long-vacant Packard auto plant in Detroit started Thursday as crews began tearing apart an already crumbling exterior wall of the massive structure. A demolition claw ripped and tugged on decades-old bricks and concrete along the upper floors of the old ...

Missouri lawmakers pass bill to cut income taxes

COLUMBIA, Mo. (AP) — Missouri lawmakers on Thursday gave final approval to an income tax cut that Gov. Mike Parson requested and ditched a last-minute proposal to cut corporate taxes. The Republican-led Missouri House voted 98-32 in favor of the bill, which would cut income taxes from 5.3% ...

California tells auto insurers to disclose pandemic profits

SACRAMENTO, Calif. (AP) — California's insurance commissioner on Thursday ordered nearly 50 auto insurers to provide detailed information about their claim costs during the pandemic, his latest attempt to compensate consumers he says were overcharged as traffic virtually disappeared when the ...

US proposal would permit eagle deaths as renewables expand

BILLINGS, Mont. (AP) — The Biden administration on Thursday proposed a new permitting program for wind energy turbines, power lines and other projects that kill eagles, amid growing concern among scientists that the rapid expansion of renewable energy in the U.S. West could harm golden eagle ...

Ex-PG&E execs to pay $117M to settle lawsuit over wildfires

OAKLAND, Calif. (AP) — Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility's equipment, it was announced Thursday. The settlement was announced by the ...

House approves antitrust bill targeting Big Tech dominance

WASHINGTON (AP) — The House on Thursday approved antitrust legislation targeting the dominance of Big Tech companies by giving states greater power in competition cases and increasing money for federal regulators. The bipartisan measure passed by a 242-184 vote. It was separated from more ...

Musk and Twitter CEO Agrawal were briefly pals, texts show

DOVER, Del. (AP) — Newly disclosed text messages between Elon Musk and Twitter CEO Parag Agrawal showed that the two men briefly bonded in the spring over their love of engineering — at least until Musk publicly tweeted this message early on April 9: ' Is Twitter dying? '" That soured a ...

Water crisis tests Mississippi mayor who started as activist

JACKSON, Miss. (AP) — The mayor of Mississippi's capital was 5 years old when his parents moved their family from New York to Jackson in 1988 so that his father, who had been involved in a Black nationalist movement in the 1970s, could return to the unfinished business of challenging inequity ...

84-year-old Michigan anti-abortion canvasser shot, wounded

ODESSA TOWNSHIP, Mich. (AP) — A man shot and wounded an 84-year-old Michigan woman who was canvassing door-to-door against a proposed constitutional amendment that would guarantee the right to abortion in the state. The State Police are investigating the Sept. 20 shooting at a home in Odessa ...