Gasoline prices are surging ahead of Labor Day, with AAA predicting travelers will face the highest pump prices on record for the holiday weekend amid ongoing conflict in the Strait of Hormuz. The national average for regular gasoline reached $4.14 a gallon Thursday, up 4 cents from a week earlier, according to AAA data. Diesel averaged…
The Personal Consumption Expenditures index — the Federal Reserve’s preferred inflation measure — held at a 3.7% annual pace in July, slightly higher than forecasted and reflecting persistent cost pressures for consumers. Economists polled by FactSet had predicted a 3.6% annual increase. Wednesday’s report instead showed that inflation remained unchanged from June. PCE tracks changes…
Dolly Parton, one of the most groundbreaking and successful musicians in the history of country music, with a hitmaking career that spanned six decades and launched her into TV and movie stardom, has died, her family announced Tuesday. She was 80. Since breaking onto the country music scene with her 1967 debut “Hello, I’m Dolly,”…
President Trump’s 50% tariffs on certain Canadian products could raise their prices in the U.S., but the narrow scope of the levies is unlikely to trigger a broader spike in inflation, trade experts said. After the tariffs, first announced in late June, took effect on Saturday following a breakdown in trade talks, Canada pledged to…
Retirement is biting Generation X. Its oldest members will turn 62 next year, the earliest age at which people can claim Social Security benefits, with many Americans having too little saved to stop working even as the program faces its own funding crisis. Chris Branaman, 53, jokes that his retirement will be spent as a…
The Federal Trade Commission (FTC) is warning companies that use customers’ personal information to set different prices based on what they believe is a shopper’s propensity to pay that they could be breaking the law. In a proposed enforcement policy statement released Wednesday, the FTC said consumers expect prices for products and services to apply…
Sky-high rental costs across the U.S. are swallowing up a large share of Americans’ paychecks in cities, as a stubborn supply shortage keeps prices elevated. According to Zillow, the median rent for a two-bedroom home in New York City, the country’s priciest metro area, runs $4,750 a month — or $57,000 a year. That’s more…
Multi-platinum singer Becky G’s mission goes beyond music with her latest album. The global star said in an exclusive interview with “CBS Mornings” that visuals for her new music are where her advocacy and art “really came together.” “It was emotional for me,” she told “CBS Mornings” co-host Gayle King while reflecting on the music…
Rescuers in Colombia were making last-ditch efforts to locate earthquake survivors early Thursday as the critical 72-hour window for rescue operations neared its end. The magnitude 7.4 quake, the strongest to hit Colombia this century, has killed 265 people, injured almost 3,500 and left almost 500 missing, according to Colombia’s new president Abelardo de la…
Sixty cats and kittens have now been rescued from an abandoned sailboat that was found anchored off a beach in Washington state, police said. The 40-foot boat, initially spotted earlier this month in waters near Tacoma’s Owen Beach, remains the focal point of an active criminal investigation as well as an ongoing search for additional…
