UK inflation rises to 10.4% as food prices soar

Wednesday, March 22, 2023 5:31 AM

UK consumer prices jumped by 10.4% in February compared with a year ago, as food inflation hit its highest level in more than 45 years, and as the cost of visiting restaurants and hotels increased, official data showed Wednesday.

Senate committee set to vote on Biden's embattled FAA nominee

Wednesday, March 22, 2023 5:03 AM

The Senate Committee on Commerce, Science, and Transportation is scheduled to vote on President Joe Biden's pick to lead the Federal Aviation Administration on Wednesday morning -- marking a consequential moment for the embattled nominee and the agency, which is attempting to address a slew of major challenges.

Here's why Janet Yellen doesn't think prioritizing payments would avoid a debt ceiling debacle

Wednesday, March 22, 2023 5:02 AM

At some point later this year, the US will not be able to pay all of its obligations on time and in full unless Congress acts to address the debt ceiling.

All eyes are on the Fed as it prepares to announce another potential interest rate hike

Wednesday, March 22, 2023 4:00 AM

All eyes are trained on the Federal Reserve as it prepares to announce another potential interest rate hike Wednesday afternoon -- exactly 10 days after the Biden administration stepped in with dramatic emergency actions to contain the fallout from two bank failures.

Philadelphia reaches $9.25 million settlement over police misconduct during the 2020 George Floyd protests

Tuesday, March 21, 2023 9:31 PM

The City of Philadelphia has announced a $9.25 million settlement with hundreds of people who sued the city alleging "excessive and unreasonable force" by police during the civil unrest over the killing of George Floyd in 2020.