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Money & Markets

Consumers shift again, flummoxing big retailers

NEW YORK — The pandemic vastly changed the way Americans spend money and now as they return to pre-pandemic behavior, they’re tripping up retailers again. That dynamic has only been intensified in recent months as inflation jumps sharply, and the latest financial report from Target ...

Musk wars with Twitter over his buyout deal — on Twitter

Tesla CEO Elon Musk promised that taking over Twitter would enable him to rid the social media platform of its annoying “spam bots.” Now he’s arguing — without presenting any evidence — that there might be just too many of those automated accounts for the $44 billion deal to move ...

Powell: Fed to keep hiking rates until it controls inflation

WASHINGTON — Chair Jerome Powell on Tuesday underscored the Federal Reserve’s determination to keep raising interest rates until there is clear evidence inflation is steadily falling — a high-stakes effort that carries the risk of causing an eventual recession. The Fed’s increases in ...

Lawsuit: Swift Pork endangered workers with free steak lunch

The family of an Iowa meatpacking plant worker who died from COVID-19 is suing the company for allegedly failing to protect employees who were “crammed” into a dining hall for a free steak lunch in appreciation of their attendance during the pandemic. Jose Andrade-Garcia, the lawsuit ...

Powell: ‘Soft’ economic landing may be out of Fed’s control

WASHINGTON — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell ...

Coinbase loses half its value in a week as crypto slumps

SILVER SPRING, Md. — Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop 5o date on Wednesday as the famously volatile crypto market weathers yet another slump. Coinbase reported a $430 million net loss in the first quarter, ...