U.S. GDP Fell Less Than Previously Thought in Second Quarter
The second-quarter decline in U.S. economic output was less severe than initially estimated and unemployment claims fell slightly last week,...
Government Bodies
Twitter Comes Under Washington Spotlight With Whistleblower Complaint
WASHINGTON—A whistleblower’s complaint opens up new political and legal challenges for Twitter Inc. TWTR -7.32% in Washington, as lawmakers and...
White House Planning Student-Loan Announcement Wednesday
White House officials are planning for President Biden to make an announcement on Wednesday about his proposal for dealing with...
U.S. Steps Up Enforcement of Its Long List of Russia Sanctions
WASHINGTON—The U.S. has imposed a set of powerful sanctions against Russia’s economy to punish it for the invasion of Ukraine....
Fed Officials See Need for Continued Interest-Rate Increases, but Less Certainty Over Destination
Federal Reserve officials agreed at their monetary-policy meeting last month they needed to keep raising interest rates enough to lower...
U.S. Retail Spending Held Steady in July
U.S. consumers continued opening their wallets last month, shifting savings from falling gasoline prices to purchases of everyday goods as...
Samsung Leader Jay Y. Lee Receives Presidential Pardon for Bribery Conviction
SEOUL— Samsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal...
Federal Trade Commission Expected to Launch Effort to Expand Online Privacy Protection
WASHINGTON—The Federal Trade Commission is expected to begin writing federal rules to expand online privacy protections as soon as Thursday,...
Rapid Wage Growth Keeps Pressure on U.S. Inflation
Workers’ wages are rising briskly, a factor contributing to four-decade high U.S. inflation.Average hourly earnings grew 5.2% in July from...
California DMV Accuses Tesla of False Advertising
The California Department of Motor Vehicles accused Tesla Inc. TSLA -6.63% of falsely advertising its vehicles as autonomous. The state...
U.S. Added 528,000 Jobs in July
The U.S. economy has now recouped the 22 million jobs lost early in the pandemic, adding 528,000 positions in July...
Rivian Says Senate Climate Deal Puts It at Disadvantage
Electric-vehicle startup Rivian RIVN 0.57% Automotive Inc. is warning that planned revisions to the EV tax credit would put the...
Trial Begins in Justice Department’s Bid to Block Book Publishing Merger
WASHINGTON—Trial proceedings kicked off in the Justice Department’s antitrust challenge to Penguin Random House’s planned acquisition of rival publisher Simon...
Inflation Hits Fresh Four-Decade High, According to Fed’s Preferred Measure
Inflation accelerated in June, measured by the Federal Reserve’s preferred gauge, driven by a jump in energy prices as well...
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object
WASHINGTON—The U.S. Treasury Department is softening its limits on foreign tax credits, responding to corporations that have been warning about...
Twitter-Musk Trial Set for October in Lawsuit Over Stalled $44 Billion Takeover
Chancellor Kathaleen St. Jude McCormick, the chief judge of the Delaware Chancery Court, ordered a five-day trial in October, over...
Uber Agrees to Pay Penalties After Overcharging People With Disabilities
The Justice Department said it settled a case with Uber Technologies Inc. that alleged the ride-hailing company wrongfully charged wait-time...
Chip Investment Decisions Await Congressional Action on $52 Billion Funding Bill
Political wrangling in Congress over government funding for the semiconductor industry is leaving tens of billions of dollars of potential...
Sen. Joe Manchin Balks at Global Minimum Tax Championed by Biden
WASHINGTON—The Biden administration’s international tax agenda suffered a setback when Sen. Joe Manchin rejected a 15% minimum tax on multinational...
All Jobs Businesses Cut in Pandemic Are Back, but Not Where They Were Lost
Transportation and warehousing jobs, benefiting from an e-commerce boom, have grown the fastest among major industry groups since the Covid-19...
