Federal Reserve pauses rate hikes as inflation slows down

The Federal Reserve left the main U.S. interest rate unchanged Wednesday, waiting to see if its historic series of rate hikes over the last 18 months gets inflation under control. The central bank kept its main policy rate in the range of 5.25% to 5.50%, citing an easing of economic conditions while also acknowledging that […]

Olive oil prices surge over 100% to record highs and spark cooking oil thefts

Olive oil prices spiked to fresh records as severe droughts in major producing countries crimp supplies — and drive up thefts in cooking oil. Global prices for olive oil surged to $8,900 per ton in September, driven by “extremely dry weather” in the Mediterranean, according to a recent report by the United States Department of Agriculture. Already, […]

What the Clorox products’ shortage means for you

Shoppers are seeing shortages of some familiar household products, from cleaners like Clorox and Tilex to Burt’s Bees balms and Glad trash bags, as The Clorox Company tries to recover from a cyberattack it disclosed in August. The company reported on Monday that, because of the damage the cyberattack caused to its internal systems, it […]

Stellantis could close 18 facilities under UAW deal — here are the full details of its latest offer

DETROIT — The most recent contract proposal by automaker Stellantis to the United Auto Workers union could lead to the closure of 18 U.S. facilities, but it could also bring new investments and repurpose an idled vehicle assembly plant in Illinois, sources familiar with the discussions told CNBC. The plans would likely affect thousands of UAW members, […]