CVS to lay off 5,000 employees as it seeks to cut costs

The Rhode Island-based pharmacy giant said in a statement that it is eliminating "a number of non-customer facing positions" throughout the company

Siena College poll: Long Islanders pessimistic about local economy

Findings from a Siena College Research Institute poll show Long Island consumers are down about their immediate financial future as compared to their neighbors throughout the metro area.

Loan delinquencies could be early sign of economic trouble: report

The troubling rise in delinquency comes amid heightened fears over a recession, with higher rates and increased price of goods putting strain on household budgets across the country.

US inflation believed to have slowed in June in sign of easing price pressures

Some economists believe if inflation keeps slowing and the economy shows signs of improvement, a July interest rate hike could be the Federal Reserve's last.

Fed may tighten financial rules after US bank failures, Powell says

The collapse of Silicon Valley Bank, Signature Bank and First Republic Bank exposed different vulnerabilities that the Fed will likely address through new regulations.

Powell expects more Fed rate hikes because of persistently high inflation

Chair Jerome Powell reiterated that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economy’s service sector and the surprisingly tight job market.

Know any airplane mechanics? Wave of retirements leave some US industries desperate

A surge of retirements, along with a slowdown in immigration that began during the pandemic, are the primary factors behind the labor shortages that continue to bedevil many employers.

Debt ceiling deal includes new work requirements for SNAP: How they work

The bipartisan debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy would modify the work requirements for food stamps and welfare.

Debt ceiling: House OKs bill to avoid default, sends Biden-McCarthy deal to Senate

The House has approved the debt ceiling and budget cuts package, sending it to the Senate. President Joe Biden negotiated the deal with Speaker Kevin McCarthy to avert a U.S. default crisis.

Debt ceiling: Bill on its way to House floor after clearing key hurdle

Under fire from conservatives, House Speaker Kevin McCarthy is hunting for votes from fellow Republicans for the debt ceiling deal.

These billionaires are worth more than the US Treasury has in cash, report says

The cash balance at the U.S. Treasury is lower than the net worth of some of the world's richest people, according to the Bloomberg Billionaire Index.

Debt ceiling deal: Here's what's in, what's out of the bill to avert US default

Details of the deal between President Joe Biden and House Speaker Kevin McCarthy are out. But the two leaders still have to persuade Congress to pass the bill.

Biden, McCarthy reach final deal in debt ceiling talks, look to sell Congress

The Democratic president and Republican speaker spoke with each other Sunday evening as negotiators rushed to draft the bill text so lawmakers can review compromises that neither the hard-right or left flank is likely to support.