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Why U.S. Inflation Is So High, When It May Ease

WASHINGTON — Inflation’s relentless surge didn’t merely persist in June. It accelerated. For the 12 months ending in June, the government’s consumer price index rocketed 9.1%, the fastest year-over-year jump since 1981. And that was nothing next to what energy prices did: Fueled by heavy demand and by Russia’s invasion of Ukraine, energy costs shot up nearly 42% in the past 12 months, the largest such jump since 1980. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price spike — so-called core inflation soared ...

Netflix Co-Founder Helps Startups

SANTA CRUZ, Calif. — Longtime Netflix CEO Reed Hastings is renowned for building a video streaming service that has transformed entertainment, but it probably wouldn’t have happened if not for his friendship with serial entrepreneur Marc Randolph. While brainstorming with Hastings in ...

Add Rent To Rising Costs Hitting Small Businesses

NEW YORK — The rent has come due for America’s small businesses and at a very inopportune time. Landlords were lenient about rent payments during the first two years of the pandemic. Now, many are asking for back rent, and some are raising the current rent as well. Meanwhile, most of ...

Detroit Targets Old Industry Sites To Improve Neighborhoods

DETROIT — One of the first things 84-year-old Mahalie Wilson sees when she steps out of her home on Detroit’s east side is the brick, steel and concrete skeleton of the long-vacant Packard plant that looms over the neighborhood. Built in the early 1900s and still churning out high-end ...

Heritage Names New CFO

Lisa Haglund, president and CEO of Heritage Ministries, announced that Paul DeSantis has been named chief financial officer of the organization. DeSantis comes to Heritage with a qualified background including nearly two decades in health care and financial management, most recently serving ...

State Job Recovery Still Lagging Behind Rest Of Country

A recent study by The Empire Center shows that New York still lags behind most of the nation in terms of recovering jobs lost at the start of the pandemic. Last week, the nonprofit, nonpartisan think tank reviewed the most recent state and federal seasonally adjusted employment data. It found the United States would have completed its job recovery from the start of the COVID-19 pandemic by now if not for New York. The information through last month showed the U.S. had recovered 99.8% of the total number of jobs the country had in February 2020, the last month before the COVID ...