MoneyWatch

Major indexes recovered from a Tuesday-morning slump, ending the day with slight gains, as record inflation, supply-chain constraints and soaring energy prices weigh on economic growth. The Nasdaq had the strongest rally, rising 194.39 points, or 1.7%, to 11,322.24. The S&P 500 rose 6.06 points, or 0.2%, to 3,831.39, while …

High gas prices have Wallace Reid looking for a new career. Reid, who drives for Uber and Lyft in New York, fills up his Lexus at least three times a week. He pays around $95 each time, about double what he was paying last year. To make up for the …

A Democratic lawmaker has introduced a bill designed to curb sales of semi-automatic weapons like AR-15s, the type of firearm used by both shooters in the massacres in Uvalde and Buffalo last month. If passed, the legislation would impose a 1,000% tax on any type of semi-automatic weapon, making the …

Even when regular workers win their biggest raises in decades, those wage increases look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according to data analyzed for The Associated Press …

Gas continues to reach new highs, with average prices hitting a record $4.56 a gallon on Wednesday and topping $6 a gallon in California, the state with the highest prices at the pump, according to AAA. That’s taking a bite out of consumers’ budgets, with the typical household spending $4,800 …

Biogen will replace its CEO and largely abandon marketing of its controversial Alzheimer’s drug Aduhelm less than a year after the medication’s launch triggered a backlash from experts, doctors and insurers. CEO Michel Vounatsos will continue to lead Biogen until a successor is found, the company said Tuesday. Vounatsos has …

The price of crude oil has dropped significantly compared to a month ago, but drivers in the U.S. are still experiencing sticker shock at the gas pump.  Crude oil is down more than $20 a barrel, or a decline of almost 20%, from its March peak. But gas prices remain …

Louisville, Ky. — A Kentucky jury has awarded $450,000 to a man who sued his employer after he asked the company not to celebrate his birthday at work – but the company did, anyway. Kevin Berling told his manager at Gravity Diagnostics in Covington in 2019 that a birthday celebration …

Amazon plans to file objections to the union election on Staten Island, New York, that resulted in the first successful U.S. organizing effort in the company’s history. The e-commerce giant stated its plans in a legal filing to the National Labor Relations Board made public Thursday. Among other things, the company accused …

The U.S. real estate market was already tough for prospective buyers, who have faced double-digit price increases and cutthroat competition for listed properties. Now they are facing another challenge as rising mortgage rates add to the affordability squeeze.  The average mortgage rate jumped to 4.42% for the week ended March …