Finance
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Stock market closes with new highs after US, China reach a framework in trade deal
The S&P 500 climbed 1.23% to 6,875.16, marking the first time it's ever closed above 6,800 points. The Nasdaq Composite rose 1.86% to 23,637.46, and the Dow Jones Industrial Average jumped 337.47 points to 47,544.59.
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Treasury Department sanctions Colombian President Gustavo Petro and network
The Treasury Department said the sanctions stem from an executive order that targets people involved in the global drug trade. Colombia is considered the top producer and exporter of cocaine.
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Media giant Warner Bros. Discovery puts itself up for sale
Company valued at over $45 billion ahead of announcement
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Amazon halts construction on second HQ in Virginia
A spokesperson for Amazon indicated the construction would again move forward later in 2023 but that the final completion date remained unclear.
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Vanguard's break with ESG investing clouds practice's future viability
"Our research indicates that ESG investing does not have any advantage over broad-based investing," said the asset management firm's CEO Tim Buckley.
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Inflation gauge Consumer Price Index increased 5.4% in January, compared to 12 months prior
The report also shows consumer prices rose 0.6% from December 2022 to January 2023.
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U.S. trade deficit surges to record high of nearly $950 billion
Exports increased 17.7% last year to $3 trillion, while imports rose 16.3% to $4 trillion, data shows.
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European Central Bank raises interest rates by half-point, twice that of US Fed hike
Some areas of the European Union saw inflation rates as high as 23.1% last year.
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Walmart to raise company minimum wage to $14 per hour
The federal minimum wage stands at $7.25 per hour.
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Major banks working to launch digital wallet to compete with PayPal, Apple Pay
The banks considered a plan to use Zelle for online shopping, but the proposal was axed due to concerns about fraud.
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Renowned commentator Lou Dobbs says the debt ceiling is the wrong issue to tackle at the moment
Dobbs referred to the discussion about the debt ceiling as "manufactured confrontation."
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FTX uncovers $5 billion in liquid assets amid bankruptcy proceedings
The firm had roughly 9 million clients.
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Fed Chair Powell: Bank won't be 'climate policymaker,' 'inappropriate' to promote greener economy
Progressive lawmakers and climate activists have argued that the Fed should do more to fight against climate change.