EU targets Big Tech with sweeping new antitrust rules

Executive Vice President of the European Commission for a Europe Fit for the Digital Age Margrethe Vestager. Thierry Monasse | Getty ImagesNews | Getty Images The European Union agreed on landmark new antitrust regulations that could reshape the business models of US technology giants Meta, Apple, Amazon and Google dramatically. The rules are expected to … Read more

Biden, Western allies gather at tense moment in Ukraine war

BRUSSELS (AP) — As the war in Ukraine grinds into a second month, US President Joe Biden and Western allies are gathering to chart a path to ramp up pressure on Russian President Vladimir Putin while tending to the economic and security fallout that’s spreading across Europe and the world. Over the course of Thursday, … Read more

5 things to know before the stock market opens Wednesday, March 23

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures drop, a day after Wall Street had resumed its upswing Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 21, 2022. Brendan McDermid | Reuters 2. Moderna … Read more

Fed Chairman Jerome Powell: We need to raise interest rates quickly

Between a strong job market and soaring inflation, “there is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level,” Powell said during his Monday address at the Annual Economic Policy Conference of the National Association for Business Economics. The central bank embarked on that journey last … Read more

American Airlines, Starbucks, Peloton and more

An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Check out the companies making headlines in midday trading. AMC Entertainment, Hycroft Mining — The movie theater chain saw its shares dip by less than 1% after announcing … Read more

Students allowed despite Covid policies

Prime Minister Scott Morrison on Wednesday announced Australia will refund visa fees for vaccinated backpackers who arrive within the next three months. The country — whose tight, pandemic border policies locked out its citizens, and more recently, one of tennis’s biggest stars — is encouraging backpackers to visit. And it’s doing so because it wants … Read more

US strikes harder at Putin, banning all Russian oil imports

WASHINGTON (AP) — Striking harder at Russia’s economy, President Joe Biden on Tuesday ordered a ban on Russian oil imports in retaliation for Vladimir Putin’s onslaught in Ukraine. The major trade action, responding to the pleas of Ukraine’s embattled leader, thrust the US out front as Western nations seek to halt Putin’s invasion. Americans will … Read more

Powell expects a quarter-point Fed rate hike this month

WASHINGTON (AP) — Chair Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed. But Powell did open the door to a bigger hike in the event … Read more