The European Central Bank raised interest rates this week and trimmed growth estimates as President Christine Lagarde signaled a shift that could mean…
The United Auto Workers began a strike Friday against all three of the legacy Detroit carmakers, an unprecedented move that could launch a costly and protracted showdown over wages and job security. General Motors Co. offered 20% raises over four years, cost-of-living allowances and boosts to existing pensioners.
US inflation-adjusted household income fell in 2022 by the most in over a decade, highlighting the toll of a higher cost of living and the expiration of pandemic-era programs. The 2.3% drop in incomes — which was the most since 2010 — marked the third-straight annual decline, which has been a feature of past recessions like the global financial crisis, the dotcom bubble and the downturn in the early 1990s.
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