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Biden calls on Congress, states to suspend gas taxes

(WASHINGTON) -- President Biden on Wednesday called on Congress to suspend the federal gas tax for three months and asked states to suspend their own gas taxes or provide commensurate relief to consumers. The federal government charges an 18.4-cent tax per gallon of gasoline and... Read More.

Biden to call on Congress, states to suspend gas taxes

(WASHINGTON) -- President Biden will on Wednesday call on Congress to suspend the federal gas tax for three months and ask states to suspend their own gas taxes or provide commensurate relief to consumers, according to the White House. The federal government charges an 18.4-cent... Read More.

Kellogg announces split into three separate companies

(NEW YORK) -- Kellogg has announced that it will separate into three different companies to create “greater strategic, operational, and financial focus” for each of the new firms that will be named at a later date. Under the plans announced on Tuesday, Kellogg will separate... Read More.

Can higher interest rates be good?

(WASHINGTON) -- The Federal Reserve's strongest weapon in its fight against skyrocketing inflation is raising interest rates. In March, the Fed raised its target federal funds rate by 0.25%, the first rate hike in more than three years. At its May meeting, the central bank... Read More.

What the interest rate hike means for homebuyers

(NEW YORK) -- A difficult year for many homebuyers became even tougher when the Federal Reserve dramatically raised borrowing costs this week in an effort to tame sky-high inflation, experts told ABC News. For months, homebuyers have faced the dual challenges of skyrocketing mortgage rates... Read More.

Revlon has filed for bankruptcy after 90 years in business

(NEW YORK) -- Revlon has officially filed for bankruptcy. The 90-year-old cosmetics giant announced on Thursday that the company voluntarily petitioned for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. Like many other companies, the company has been... Read More.

How to prepare for a possible recession

(NEW YORK) -- A number of forces are putting pressure on the economy right now and that has Wall Street betting on a recession sometime in the next 12 to 18 months. Consumer prices are at a 40-year high, the ongoing global health crisis continues... Read More.