Business

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The announcement comes days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention. The past several inflation reports have shown prices slightly cooling off, but shelter ...

A company responsible for producing ice cream products for several popular brands, including Hershey’s, Jeni’s and Friendly’s, has issued a recall because some of its products may be contaminated with Listeria. In a notice posted on the Food and Drug Administration’s website, Totally Cool Inc. said it had already ceased production and distribution of the affected products after the agency’s ...

Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies.  Demand for Wegovy and Ozempic has outstripped supply over the last year, spurring intermittent shortages in the U.S. and forcing the Danish drugmaker to ...

Delta Air Lines is the country’s most profitable airline. CEO Ed Bastian’s challenge is to make sure his carrier stays on top. The airline’s unit revenue, the amount it brings in for every seat it flies one mile, outpaced its competitors’ last year. Delta’s share price has soared almost 23% in 2024, more than any rival in the rocky airline sector, in a rally ...

Paramount Global is hiking the price of its flagship streaming service as the company looks to turn around its business. The company said Monday it will raise the price of the Paramount+ with Showtime plan by $1 to $12.99 a month, and the price of its Paramount+ Essential option will increase by $2 to $7.99 a month for all new subscribers. ...

European Union regulators on Monday said Apple is in breach of sweeping new tech rules because it does not allow customers of its App Store to be steered to alternatives. The European Commission, the E.U.’s executive arm, also said it had opened a new probe into Apple over new contractual terms with developers. The E.U. opened an investigation into Apple, Alphabet ...

Pennsylvania Sen. Bob Casey has sent letters to Amazon, Target and Walmart over concerns that pricing decisions made at the retail giants since the pandemic may have been driven by aggressive push for profits at the expense of everyday Americans’ wallets. Casey, a three-term Democrat who is in a tight re-election battle that could tip his party’s razor-thin majority in ...

The 2024 Summer Olympics in Paris are set to see plenty of attendees — but travel data shows there are still opportunities for last-minute deal-hunters to capitalize on current market dynamics. Roughly a month out from the Friday, July 26, torch-lighting ceremony that will kick off the games, more than 75% of Paris-area rooms tracked by analytics firm CoStar have been ...

More than half a million portable electronic device chargers sold exclusively at Costco are being recalled after reports they can overheat and catch fire. The devices, called myCharge POWER HUB All-In-One, allegedly caused at least two residential fires. In a notice posted on the Consumer Product Safety Commission’s website, myCharge, also known as RFA Brands of Birmingham, Michigan, said 567,000 ...

Rite Aid is closing 27 more locations as it continues to work through a bankruptcy proceeding, according to a new court filing. The store locations are in Ohio and Michigan. More than 520 have been closed since Rite Aid filed for reorganization in October — about a quarter of its footprint. The majority of closures have mostly occurred in the ...