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Slotkin bill seeks permanent review process for high-tech Chinese cars

May 30, 2024, 7:19am Business

Democratic U.S. Rep. Elissa Slotkin released new legislation Wednesday aimed at ensuring federal review of high-tech cars coming from China. Read story

People pass the New York Stock Exchange on Wednesday, May 29, 2024, in New York. Wall Street was poised to open with losses as some major dealmaking and a handful of earnings reports fill the news void until Friday&rsquo;s latest inflation report.

Stock market today: Wall Street wilts to trim its May gains as Dow drops 400 points

People pass the New York Stock Exchange on Wednesday, May 29, 2024, in New York. Wall Street was poised to open with losses as some major dealmaking and a handful of earnings reports fill the news void until Friday&rsquo;s latest inflation report.

May 29, 2024, 1:47pm Business

U.S. stocks sank under the weight of higher yields in the bond market on Wednesday. Read story

FILE - The Nissan logo is displayed at the global headquarters of Nissan Motor Co., July 22, 2020, in Yokohama, near Tokyo. On Wednesday, May 29, 2024, Nissan urged owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments.

Nissan warns owners of older vehicles not to drive them due to risk of exploding air bag inflators

FILE - The Nissan logo is displayed at the global headquarters of Nissan Motor Co., July 22, 2020, in Yokohama, near Tokyo. On Wednesday, May 29, 2024, Nissan urged owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments.

May 29, 2024, 8:38am Business

Nissan is urging the owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments. Read story

A volcano spews lava in Grindavik, Iceland, Wednesday, May 29, 2024. A volcano in southwestern Iceland is erupting, spewing red streams of lava in its latest display of nature&rsquo;s power. A series of earthquakes before the eruption Wednesday triggered the evacuation of the popular Blue Lagoon geothermal spa. The eruption began in the early afternoon north of Grindavik, a coastal town of 3,800 people that was also evacuated.

An Iceland volcano starts erupting again, spewing lava into the sky

A volcano spews lava in Grindavik, Iceland, Wednesday, May 29, 2024. A volcano in southwestern Iceland is erupting, spewing red streams of lava in its latest display of nature&rsquo;s power. A series of earthquakes before the eruption Wednesday triggered the evacuation of the popular Blue Lagoon geothermal spa. The eruption began in the early afternoon north of Grindavik, a coastal town of 3,800 people that was also evacuated.

May 29, 2024, 8:35am Business

A volcano in southwestern Iceland erupted Wednesday, spewing red streams of lava in the latest display of nature’s power, triggering the evacuation of the popular Blue Lagoon geothermal spa. Read story

A woman with a dog looks into an attraction promoting the western fast food chain McDonald&rsquo;s in Beijing, Saturday, May 25, 2024.

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth

A woman with a dog looks into an attraction promoting the western fast food chain McDonald&rsquo;s in Beijing, Saturday, May 25, 2024.

May 29, 2024, 8:35am Business

The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. Read story

FILE - Federal Reserve Board Chair Jerome Powell speaks at a news conference at the Federal Reserve in Washington, May 1, 2024. On Wednesday, May 22, 2024, the Federal Reserve releases minutes from its most recent policy meeting.

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

FILE - Federal Reserve Board Chair Jerome Powell speaks at a news conference at the Federal Reserve in Washington, May 1, 2024. On Wednesday, May 22, 2024, the Federal Reserve releases minutes from its most recent policy meeting.

May 29, 2024, 8:30am Business

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. Read story

ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices rise

May 29, 2024, 8:27am Business

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. Read story

FILE - Chickens stand in their cages at a farm, Nov. 16, 2009, near Stuart, Iowa. More than 4 million chickens in Iowa will have to be killed after a case of the highly pathogenic bird flu was detected at a large egg farm, the state announced Tuesday, May 28, 2024.

Farmers must kill 4.2 million chickens after bird flu hits Iowa egg farm

FILE - Chickens stand in their cages at a farm, Nov. 16, 2009, near Stuart, Iowa. More than 4 million chickens in Iowa will have to be killed after a case of the highly pathogenic bird flu was detected at a large egg farm, the state announced Tuesday, May 28, 2024.

May 29, 2024, 8:26am Business

More than 4 million chickens in Iowa will have to be killed after a case of the highly pathogenic bird flu was detected at a large egg farm, the state announced Tuesday. Read story