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Money & Markets

Fed’s Powell says high inflation temporary, will ‘wane’

WASHINGTON — Federal Reserve Chair Jerome Powell on Tuesday responded to concerns from Republican lawmakers about spiking inflation by reiterating his view that current price increases will likely prove temporary. Consumer prices jumped 5 percent in May compared with a year earlier, the ...

Ransomware gangs get paid off as officials struggle for fix

BOSTON — If your business falls victim to ransomware and you want simple advice on whether to pay the criminals, don’t expect much help from the U.S. government. The answer is apt to be: It depends. “It is the position of the U.S. government that we strongly discourage the payment of ...

‘Obamacare’ survives: Supreme Court dismisses big challenge

WASHINGTON — The Supreme Court, though increasingly conservative in makeup, rejected the latest major Republican-led effort to kill the national health care law known as “Obamacare” on Thursday, preserving insurance coverage for millions of Americans. The justices, by a 7-2 vote, left ...

Airbus-Boeing deal eases US-EU tensions but conflicts remain

BRUSSELS — The deal the United States and the European Union reached Tuesday to end their long-running rift over subsidies to Boeing and Airbus will suspend billions in punitive tariffs. It will ease trans-Atlantic tensions. And it will let the two sides focus on a common economic threat: ...

GM exec: Company to announce more battery plants this week

DETROIT — The president of General Motors says his company plans to announce more U.S. battery factories later this week. Mark Reuss gave no details of where the factories would be located or exactly what they would manufacture. He spoke in a weekend interview with The Associated Press at ...

Apple reaffirms privacy stance amid Trump probe revelations

SAN RAMON, Calif. — Seeking to protect its image as a guardian of personal privacy, Apple maintains it was blindsided and handcuffed by a Trump administration probe that resulted in the company handing over phone data from two Democratic congressmen. Apple delivered its version of events ...