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Money & Markets

US to hold back Lake Powell water to protect hydropower

SALT LAKE CITY — U.S. officials announced what they called extraordinary steps on Tuesday to keep hundreds of billions of gallons of water stored in a reservoir on the Utah-Arizona line to prevent it from shrinking more amid prolonged drought and climate change. The U.S. Bureau of ...

Fed to fight inflation with fastest rate hikes in decades

WASHINGTON — The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans’ financial strains and ...

Thousands likely at Buffett’s meeting but not all are happy

OMAHA, Neb. — Tens of thousands of people are expected to pack an Omaha arena Saturday for Warren Buffett’s Berkshire Hathaway’s annual meeting. Most attending the company’s first in-person meeting since the pandemic want to be there just for the chance to hear from the 91-year-old ...

Big US energy transmission projects inch closer to approval

ALBUQUERQUE, N.M. — The federal government has finished another environmental review of a proposed transmission line that will carry wind-generated electricity from rural New Mexico to big cities in the West and similar reviews are planned for two more projects that would span parts of Utah ...

Amazon reports rare quarterly loss

reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock fell 9 percent in after-hours ...

Shares of Facebook parent Meta soar

Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Shares were up sharply in after-hours trading. Meta cut a sharp contrast with Google parent ...