US Business

The Federal Reserve is on course to raise interest rates to a 22-year high later this month to combat inflation.

The latest jobs and wage data add to evidence that economic activity hasn’t slowed as much as Fed officials expected, and leaves them likely to lift interest rates to a 22-year high at their July 25-26 meeting.

On a trip to Beijing, the Treasury secretary told her hosts that the U.S. wants to engage in economic competition that is mutually beneficial.

Lower housing and used-car costs are expected to push down the core index, but progress could then stall so long as the economy doesn’t weaken.

Social-media app Snapchat is trying to counter declining sales.

Costs for meat, eggs and produce have been tamed, but inflation is running hot in grocery stores’ inner aisles, home to packaged food and household goods.

Founded in China as fast-fashion retailer, the company is now positioning itself as a marketplace for practically anything.

The Facebook co-founder is seizing the moment with a win after years of tumult.

Twitter sued Wachtell, Lipton, Rosen & Katz, the law firm that represented its interests in a Delaware case to force Elon Musk to complete his takeover of the platform.

Musk has moved to increase subscription revenue and cut costs, but his changes alienated some users.