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Business and Economic News

’The time has come’ to lower interest rates: Fed Chair Jerome Powell

’The time has come’ to lower interest rates: Fed Chair Jerome Powell

Federal Reserve chairman Jerome Powell signaled that he’s increasingly confident inflation will soon be tamed, and that he and his colleagues will soon cut interest rates to avoid hurting the job market.
by Scott Horsley

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Gas prices are down. We could be headed for lows not seen since 2021

Gas prices are down. We could be headed for lows not seen since 2021

Pump prices having been falling all summer, and as Labor Day approaches, they're 47 cents lower than this time last year. Some analysts see $3 gasoline in our future.
by Scott Neuman

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After feedback, Xcel changes plan to charge more for electricity during peak hours

After feedback, Xcel changes plan to charge more for electricity during peak hours

Xcel Energy proposed charging variable rates to better reflect the actual cost of delivering electricity during times of peak demand. The utility now says the program will be voluntary for customers who choose to opt in, and the peak rates won’t be as high.
by Kirsti Marohn

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Minneapolis community safety group asks city council for more money

Minneapolis community safety group asks city council for more money

The Unity Community Mediation Team — which has formally worked with the Minneapolis Police Department on reform since 2003 — asked the city council Wednesday for $937,900 to help cover costs. 
by Cari Spencer

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What's Zyn? And why there was a shortage this summer

What's Zyn? And why there was a shortage this summer

Zyn pouches are the latest nicotine craze in the world of cigarette substitutes, with over 130 million containers sold in the first quarter of this year. Health experts and lawmakers are concerned.
by Lola Murti

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Federal judge throws out U.S. ban on noncompetes

Federal judge throws out U.S. ban on noncompetes

A federal judge in Texas has struck down the government's ban on noncompetes. An estimated 30 million U.S. workers are subject to the employment agreements.
by Andrea Hsu

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Target's focus on lower prices in the grocery aisle start to pay off as comparable store sales rise

Target's focus on lower prices in the grocery aisle start to pay off as comparable store sales rise

Target’s comparable sales rose for the first time in a year as grocery aisle deals for cash-strapped customers began to pay off. Sales at stores open for a year rose 2 percent in the second quarter reversing months of declines.
by The Associated Press

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