Fuel and food prices continue to rise due to higher energy costs, tariffs, and ongoing geopolitical tensions, including the conflict involving Iran. In the Twin Cities, gas prices jumped nearly 30 cents overnight to an average of $4.44 per gallon, with Minnesota’s average rising about 70 cents in a month. Grocery costs are also up roughly 20% since 2022, meaning a $100 shopping trip now … Continue reading Grocery prices increase as conflict in Iran continues

Honda Motor’s shares rose more than 7% despite the company reporting its first annual operating loss in nearly 70 years. The automaker posted a $2.61 billion loss, driven by heavy EV restructuring costs, U.S. tariffs, and intense competition from Chinese electric vehicle makers. Honda is scaling back some planned EV launches and expects its restructuring efforts to cost more than $9 billion as it adjusts … Continue reading Honda shares rise over 7%

The Senate has confirmed Kevin Warsh as the next chair of the Federal Reserve, placing him in charge of U.S. monetary policy amid rising inflation and debate over interest-rate direction. He will also serve a 14-year term on the Fed’s Board of Governors and is expected to lead his first policy meeting in June after final administrative steps are completed. Warsh succeeds Jerome Powell as chair, while Powell remains a … Continue reading Warsh clinches Senate approval to be Fed’s next chair as inflation intensifies

Tariff refunds have begun reaching U.S. companies after a Supreme Court ruling earlier this year found some tariffs unconstitutional. Firms like Oshkosh Corporation and Basic Fun confirmed they have started receiving partial payments, though the total refund amounts are still being calculated. Logistics companies such as UPS, FedEx, and DHL are helping process claims, which could ultimately total over $35 billion according to U.S. Customs … Continue reading Companies start getting tariff refunds after Supreme Court decision

Japanese snack company Calbee will temporarily switch to black-and-white packaging for some products after disruptions to ink-related materials caused by the Iran war and resulting supply chain issues. The company said 14 products, including crisps and prawn crackers, will be affected starting in late May as it tries to maintain stable supply. The disruption stems from wider global shortages of oil-derived materials like naphtha, which … Continue reading Snack giant switches to black and white packaging as Iran war hits ink supplies

Consumer prices rose faster than expected in April, with inflation climbing 0.6% for the month and 3.8% over the past year, driven largely by surging energy and gasoline costs. Core inflation, which excludes food and energy, also remained elevated at 2.8%, well above the Federal Reserve’s 2% target. Rising costs in housing, airfare, and other tariff-sensitive goods added to inflation pressures, while wages failed to … Continue reading Consumer prices rose 3.8% annually in April