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Financial News

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Federal Reserve Jerome Powell
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Business & Lifestyle

Federal Reserve raises interest rate by 0.75%

Federal Reserve Chairman Jerome Powell and members of the Federal Open Markets Committee voted Wednesday to raise the benchmark interest rate by 75 basis points. WASHINGTON (UPI) -- The Federal Reserve raised its benchmark interest rate by 0.75% Wednesday in its latest move to fight the highest inflation in 40 years. The highly anticipated move boosts the federal funds rate to the range of 3% to 3.25% after it remained near zero as recently as March. The Federal Open Market […]

todaySeptember 21, 2022 121

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Business & Lifestyle

Kraken announces leadership succession plan

CHEYENNE, Wyo. (Business Wire) -- Kraken, one of the world’s leading crypto platforms, today announced that COO Dave Ripley will succeed co-founder and CEO Jesse Powell. Powell will become chairman of the board of directors. Ripley will assume the role of CEO after Kraken completes a COO search. “Dave’s proven leadership and experience give me great confidence that he’s the ideal successor. [He is] the best person to lead Kraken through its next era of growth,” said Powell. “I look […]

todaySeptember 21, 2022 63

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Business News

Deal reached to avoid national rail strike

A pending railroad worker strike Friday, including those working for Amtrak, may create significant pains in an already strained economic environment. If no deal is reached, workers will go on strike as of 12:01 a.m. Friday. However, a tentative agreement was agreed to early Thursday morning, avoiding the strike. WASHINGTON (The Center Square) – The White House announced a tentative deal Thursday morning to avoid a national rail strike. The strike would have threatened to cripple the nation’s already stressed supply […]

todaySeptember 15, 2022 88

Dow Jones U.S. markets
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Business & Lifestyle

Dow stabilizes after worst sell-off since 2020

The Dow Jones Industrial Average closed up 30.12 Wednesday following the worst sell-off in two years. NEW YORK (UPI) -- U.S. stocks stabilized Wednesday right before the close in an up-and-down trading session following the biggest single-day sell-off in more than two years. After dropping more than 200 points during the final hour of trading, the Dow Jones Industrial Average finished the day up 30.12 to close at 31,135.09. The NASDAQ rose 0.7%, while the S&P 500 added 0.3%. Energy […]

todaySeptember 14, 2022 65

stocks business financial
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Business News

Stocks slide for third straight week

Traders work on the floor of the NYSE before the opening bell at the New York Stock Exchange on Wall Street in New York City on August 19. Stocks fell for a third straight week Friday. NEW YORK (UPI) -- U.S. markets posted their third straight weekly loss, falling Friday despite a solid August jobs report. The Dow Jones Industrial Average finished 337.98 points or 1.1% lower at 31,318.44. The S&P 500 also fell 1.1%, and the NASDAQ Composite declined […]

todaySeptember 2, 2022 40

Snapchat Biometric Information Privacy Act Illinois
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Business News

Snapchat to pay millions after settlement

WHEATON, Ill. (The Center Square) – Another social media company has settled out of court after allegations it violated Illinois’ strict biometric laws. The parent company that owns Snapchat agreed to pay $35 million but denied any wrongdoing.  At the heart of the issue is Snapchat’s photo filter feature. Each time a user takes a selfie or uses a filter, that person’s facial features are scanned.  Ed Yohnka, director of communications with the ACLU of Illinois, has previously said the state’s […]

todayAugust 23, 2022 94

Rivian Illinois
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Automotive News

Rivian subcontractors to pay overtime wages

SPRINGFIELD (The Center Square) – Subcontractors for an Illinois-based electric vehicle maker have settled with the state over back overtime wages.  Illinois Attorney General Kwame Raoul announced a consent decree with construction subcontractors building a new production line for Rivian Automotive Inc. in Normal. The settlement requires two subcontractors to pay over $300,000 in back wages and penalties to resolve allegations that they failed to pay Mexican laborers overtime wages.  The consent decree Raoul filed requires China-based Guangzhou MINO Equipment Co. […]

todayAugust 23, 2022 138

Dow business financial
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Business & Lifestyle

Dow drops 154 points to notch three-day losing streak

Traders work on the floor of the NYSE before the opening bell at the New York Stock Exchange on Wall Street in New York City on Friday. The Dow Jones Industrial Average began the day down over 200 points. NEW YORK (UPI) -- U.S. markets fell on Tuesday as the Dow Jones Industrial Average and S&P 500 dropped for the third consecutive day. The blue-chip Dow fell 154.02 points, or 0.47%, while the broad S&P declined 0.22% and the NASDAQ […]

todayAugust 23, 2022 98

Scooter's Coffee
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Business News

Scooter’s Coffee to open six new locations

Scooter's Coffee (also known as Scooter's Coffee Drive-Thru) is opening six new locations, thanks to a Centralia-area franchisee. Those locations are coming to Salem, Centralia, Mt. Vernon, Vandalia, Harrisburg, and Olney. Rachel Wallace, a current Subway franchisee that owns many store locations and owner of the Rosati's franchise and the Best Western in Centralia, is opening these new locations. They are in a partnership with long-time employee Marcie Wallace (no relation). Wallace says Scooter's has a great culture that has […]

todayAugust 22, 2022 328

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