US inflation up again in February in latest sign that price pressures remain elevated
WASHINGTON (AP) — Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s re-election campaign, both of which are counting on a steady easing of price pressures this year. Prices rose 0.4% from January to February, a pickup from the previous month’s figure of 0.3%. Compared with 12 months earlier, consumer prices rose 3.2% last month, faster than January’s 3.1% annual pace. Excluding volatile food and energy prices, so called “core” prices also climbed 0.4% from January to February, matching the previous month’s increase and a faster pace than is consistent with the Fed’s 2% target.
As Putin orchestrates his reelection, a resilient Russian economy is a key selling point
MOSCOW (AP) — Russia’s economy is holding up despite massive Western sanctions and foreign businesses pulling out of the country. While some goods aren’t available, President Vladimir Putin can point to a stable, growing economy as he orchestrates his reelection to a fifth, six-year term this week. Yes, there’s inflation that consumers are feeling as they shop, and some favorite imported goods may be gone or much more expensive. But massive government spending on the military and other moves have been giving the economy a boost. Plus, oil income is still rolling in. For most people in Russia, not much has changed in the economy.
Equal education, unequal pay: Why is there still a gender pay gap in 2024?
CHICAGO (AP) — Not even education can close the pay gap that persists between women and men, according to a recent U.S. Census Bureau report. Whether women earn a post-secondary certificate or graduate from a top-tier university, they still make about 71 cents on the dollar compared with men at the same education level, Census Bureau research found. That difference is coming into stark view on Equal Pay Day, and in spite of the fact that women comprise more than half of college-educated workers and participate in the labor force at record rates. Uneven child care and household responsibilities, falling college wage premiums, and additional ground to make up in leadership and high paying industries all contribute to the gender wage gap, which has remained fairly steady for two decades.
Stock market today: Wall Street rallies to a record as Big Tech stocks renew their run
NEW YORK (AP) — Stocks rallied to records after some influential Big Tech companies got back in their groove. The S&P 500 rose 1.1% Tuesday to top its all-time high set last week. The Dow Jones Industrial Average gained 0.6%, and the Nasdaq composite jumped 1.5%. All three indexes started the day with losses after a highly anticipated report showed inflation was worse than expected. Treasury yields rose. But the inflation figures weren’t far off expectations, and traders still hope the Federal Reserve will begin cutting interest rates in June. Nvidia rose to break out of its mini-losing streak, and Oracle jumped after reporting stronger profit than expected.
As TikTok bill steams forward, online influencers put on their lobbying hats to visit Washington
WASHINGTON (AP) — Lawmakers are facing their latest lobbyists — online influencers from TikTok. The platform is once again bringing influencers to Washington, this time to lobby members of Congress. The company wants lawmakers to reject a fast-moving bill that would force TikTok’s Beijing-based parent company to sell or face a ban in the United States. Some online content creators are beginning what’s poised to be a two-day lobbying and advocacy event in support of TikTok. The platform arranged their trips to Washington ahead of a House floor vote on the legislation on Wednesday.
The New York Times is fighting off Wordle look-alikes with copyright takedown notices
NEW YORK (AP) — The New York Times is fighting off Wordle “clones.” It’s arguing that numerous games inspired by the mega-popular word-guessing game infringe on its copyright protections. After Wordle skyrocketed to internet fame, hundreds of copycats have emerged over recent years. And the Times, which purchased the game in 2022, is now sending takedown notices to people behind some of the look-alikes. In a prepared statement, a spokesperson said the news company took action against one user on software developer platform GitHub who created a “Wordle clone” project that provides instructions on how to create “a knock-off version” of Wordle, and others who shared his code. Still, impacted developers and some legal experts are skeptical.
Most automated driving systems are lousy at making sure drivers pay attention, insurance group says
DETROIT (AP) — Most electronic systems that take on some driving tasks for humans don’t adequately make sure drivers are paying attention, and they don’t issue strong enough warnings to make drivers behave. That’s according a insurance industry study published Tuesday. Only one of 14 partially automated systems tested by the Insurance Institute for Highway Safety performed well enough to get an overall “acceptable” rating. Two others were rated “marginal,” while the rest were labeled “poor.” No system received the top rating of “good.” The institute says it developed the new ratings to get automakers to follow standards including how closely they watch drivers and how fast the cars issue warnings if drivers aren’t paying attention.
US lawmakers say TikTok won’t be banned if it finds a new owner. But that’s easier said than done
U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running. The premise of a bipartisan bill headed for a vote in the U.S. House of Representatives is that TikTok fans in the U.S. can keep scrolling through their favorite social media app so long as Beijing-based ByteDance gives up on owning it. But it’s not going to be as simple as lawmakers are making it sound, according to experts.
Reddit is preparing to sell shares to the public. Here’s what you need to know
SAN FRANCISCO (AP) — Reddit, that vast, lively and sometimes chaotic repository of internet discussion, said Monday that its pending initial public offering may be worth almost three quarters of a billion dollars. It’s a pretty significant valuation for a company whose largely text-based service straddles the line between social media and older online message boards. Reddit is also allocating some IPO shares to its users, a move the company describes as a way to pay back the people who have made the platform successful. But offering stock to these “Redditors” carries its own risks since they won’t be bound by the lockup provisions that prevent other “insider” shareholders from selling shares immediately.
Boeing promises changes after getting poor grades in a government audit of manufacturing quality
Boeing received bad grades in a government audit of manufacturing quality, and the company says it’s making changes to address the situation. The president of the company’s commercial aircraft division detailed the latest steps to correct lapses in quality in a memo to employees on Tuesday. He says Boeing will work with employees found to have violated company manufacturing procedures to make sure their understand their instructions. The memo went out after the Federal Aviation Administration identified problems during a six-week review of Boeing’s processes for manufacturing the 737 Max jetliner. That’s the model of plane that lost a panel during an Alaska Airlines flight in January.