Economy

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Food Inflation Drops to Lowest Rate Since December 2021: BRC

June saw retailers heavily investing in their operations and supply chains and trying to drive sales by discounting.

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Americans Defrauded of Over $200 Million in Recurring Billing Scam, FTC Alleges

Consumers nationwide were unwittingly charged on an ongoing basis in a scheme allegedly run by groups in the U.K. and Florida.

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USDA Rules Leave US Organics Disadvantaged Against Imports, Alleges Watchdog

Foreign group certification of organic food continues to raise problems for U.S. farmers and consumers.

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IRS Apologizes to Hedge Fund Magnate Over Leaked Tax Returns

The Internal Revenue Service (IRS) has issued an apology as a part of a settlement agreement with hedge fund manager Kenneth Griffin, who had sued after a government contractor leaked his confidential tax information. The Citadel LLC owner filed the complaint against the IRS after a government contractor disclosed his confidential tax information to the […]

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Federal Judges Block Parts of Student Loan Repayment Plan

Courts in Missouri and Kansas dealt a blow to President Joe Biden’s Saving on a Valuable Education (SAVE) program.

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Cancer-Drug Costs Skyrocket, Leaving Even Insured Patients in Financial Ruin

As cancer rates rise for people under 50, the cost of life-saving treatment is rising far past their ability to pay.

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Johnson & Johnson to Pay $700 Million Settlement Over Talc Powder

The company will pay in four annual instalments beginning July 30.

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Rio Tinto to Invest $215 Million in Low-Carbon Steelmaking R&D Facility

The new facility in Western Australia is expected to use raw biomass and microwave energy to convert iron ore to metallic iron in the steelmaking process.

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Toyota Recalls Over 100,000 Tundra, Lexus LX Vehicles Due to Possible Debris in Engine

The recall impacts 2022 and 2023 model year Toyota Tundra pickups and Lexus LX cars.

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J&J Must Pay $260 Million in Latest Talc Trial, Oregon Jury Says

Johnson & Johnson must pay $260 million to an Oregon woman who said she got mesothelioma, a deadly cancer linked to asbestos exposure, from inhaling the company’s talc powder, a jury found on Monday. The verdict in the 4th Judicial District Circuit Court in Portland comes as the company continues to pursue a proposed $6.48 […]

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IRS Issues Tax Filing Deadline Reminder to Taxpayers Working Abroad

Taxpayers who live outside the United States and Puerto Rico may qualify for the extended June 17 deadline.

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US Restricts Poultry Imports From Australian State Following Bird Flu Outbreak

This follows the bird flu being discovered on two Victorian properties.

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Major Automakers Imported Cars With Parts Linked to Forced Labor in China, Senate Probe Finds

The automakers failed to discover that one of their tier-3 suppliers is a sanctioned Chinese company.

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Senate Votes to Scrap SEC Crypto Policy, Biden Vows to Veto Joint Resolution

Eleven Senate Democrats joined Republicans to cancel SEC guidance on cryptocurrency.

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US Inflation Slows for First Time Since January

Shelter and gasoline prices added to inflation pressures in April.

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Producer Prices Rise Hotter Than Expected as Inflation Pressures Persist

The producer price index (PPI) has surged 25 percent cumulatively since January 2021.