Michael Horowitz came to Congress with a plea: If the U.S. government truly hoped to keep track of roughly $5 trillion in coronavirus aid, then federal watchdog agencies would need some new money of their own.
U.S. companies had a lot to overcome in the latter half of 2022, with rising interest rates, more budget-conscious consumers and a sagging stock market. That's left some of them in very tough spots at the start of the new year.
Southwest Airlines accounted for 86 percent of canceled domestic flights Tuesday, drawing the attention of U.S. regulators amid a days-long meltdown of holiday air travel that began with a winter storm late last week.
The deep freeze that blanketed most of the U.S. in the past few days killed dozens and temporarily plunged millions into darkness. Yet the country narrowly escaped an even worse calamity as natural gas and power supplies buckled across several states, laying bare just how vulnerable the electric grid has become to a full-on catastrophe.
The end of 2022 can't come soon enough for many in the banking industry. Sputtering capital markets, job cuts, raging inflation, the crypto meltdown and rising interest rates marked a year of upheaval. Whether 2023 brings revival or more of the same hinges to a large extent on the Federal Reserve.
The tailspin in Tesla shares accelerated Tuesday as a report of a plan to temporarily halt production at its China factory rekindled fears about demand risks and put the stock on pace for its longest losing streak since 2018.
Jude Snair knows retail. She works in the portrait department of a JCPenney at the Newport Centre mall in New Jersey. But with or without an employee discount, the 20-year-old said she was mostly avoiding holiday shopping this year.