For nearly two weeks, the story of a 10-year-old Ohio girl who was raped and crossed state lines to get an abortion became a flash point in the national abortion debate. President Biden and other Democrats argued that it showed the harm resulting from the Supreme Court’s overturning of Roe v. Wade. But the facts …
Facts Were Sparse on an Abortion Case. But That Didn’t Stop the Attacks. Read More »
Two federal regulators fined Bank of America $225 million on Thursday for mishandling prepaid debit card accounts used by a dozen states to distribute unemployment benefits during the pandemic, and the bank must compensate people for damages, an amount likely to total hundreds of millions more, federal officials said. Because of a faulty fraud detection …
Bank of America Is Fined $225 Million Over Pandemic Debit Cards Read More »
A review from the Federal Reserve’s watchdog found that trades made by two top officials in 2019 and 2020, when the central bank was especially active in financial markets, violated neither the law nor central bank policies. The Office of Inspector General report, released Thursday, cleared both Chair Jerome H. Powell and Richard Clarida, the …
A watchdog report absolves financial transactions made by two top Fed officials. Read More »
Stripe, a payments start-up that has been one of the most valuable privately held tech companies in Silicon Valley, has lowered its internal valuation 28 percent, according to a person with knowledge of the situation, in another sign of how the fluctuating stock market and economic uncertainty are affecting private companies. Investors had valued Stripe …
Stripe, the Payments Start-Up, Lowers Internal Valuation 28 Percent Read More »
Stocks fell Thursday as investors grappled with the possibility of another higher-than-expected interest rate increase by the Federal Reserve and some downbeat earnings reports from major banks. Trading was turbulent, and the S&P 500 ended the day down just 0.3 percent, after earlier falling close to 2 percent. Thursday’s losses added to a series of …
Stocks Fall Further as Bank Earnings Add to Concerns About the Economy Read More »
Ford Motor Co. said Hau Thai-Tang, one of its top product development and purchasing executives, and Frederiek Toney, leader of its customer service division, will retire this year. Thai-Tang, Ford’s chief industrial platforms officer, will retire Oct. 1 after more than 34 years at Ford, the automaker said Thursday. Toney, vice president of the Ford …
Americans are buying electric vehicles at a record pace, undeterred by rising prices and long waits for delivery, a further indication that the twilight of the internal combustion engine is on the horizon. Vehicles that run on batteries accounted for 5.6 percent of new-car sales from April through June, still a small slice of the …
Electric Car Sales Climb Sharply Despite Shortages Read More »
The partnership between publicly traded conglomerate Graham Holdings Co. and Chris Ourisman of Ourisman Automotive Group, which indicated it was looking to expand following its purchase of a Ford store last year, bought two Virginia dealerships last week. Graham Ourisman Automotive on July 5 bought Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram, both in Woodbridge, from the …
Toyota, Stellantis dealerships bought by Graham Ourisman Automotive Read More »
Canada’s biggest city and North America’s fourth-largest metropolis, Toronto received more than 27.5 million visitors annually before the pandemic, making it Canada’s top tourism destination, according to Destination Toronto, the city’s tourism-marketing arm. As travel rebounds, Canadian tourists are predominating, with traffic from the United States just starting to return and overseas visitors still scant, …
Christopher Waller, a Federal Reserve governor, said he supported increasing the central bank’s policy interest rate in July by the same amount as in June, though he suggested that an even larger move could be warranted if economic data continued to come in hot. The Fed raised interest rates by 0.75 percentage points last month, …
Fed Governor Waller Signals a Full-Point Rate Increase is Possible, but Not Yet Read More »
