Business News

WASHINGTON (Reuters) — U.S. consumer prices rose solidly in November as Americans paid more for food and a range goods, leading to the largest annual gain since 1982, posing a political nightmare for President Joe Biden’s administration and cementing expectations for the Federal Reserve to st…

(Reuters) — Research teams at Intel Corp on Saturday unveiled work that the company believes will help it keep speeding up and shrinking computing chips over the next ten years, with several technologies aimed at stacking parts of chips on top of each other. Intel’s Research Components Group …

WASHINGTON (Reuters) — The U.S. Federal Reserve’s experiment with running a “hot” economy has edged into historically uncharted territory, with an unemployment rate never reached without associated central bank rate increases and now levels of inflation that in the past also promp…

THE Hotel Association of the Northern Mariana Islands reported 35% average occupancy rate among its 12 member hotels for November 2021.  The figure is over eight times higher compared to November 2020, with 14,511 room nights sold this November compared to 2,006 rooms last November. The occupancy r…

WASHINGTON (Reuters) — Top executives from six major cryptocurrency companies including Coinbase and Circle on Wednesday urged Congress to provide clearer rules for the booming $3 trillion industry, but warned that overly tough restrictions would push it overseas. The U.S. House Financial Services …

WASHINGTON (Reuters) — U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy. The Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also sh…

LOS ANGELES/CHICAGO (Reuters) — Amazon.com Inc’s push to recruit big-rig contractors to haul goods across its web of warehouses is colliding with a trucker shortage as the e-commerce company moves what are expected to be record numbers of packages this holiday season. Its project, called Amaz…

KOROR (Island Times/Pacnews) — A plan to pass a Digital Residency Identification law  did not succeed as the bill failed to get a majority of the votes in the Palau Senate.  Five senators were in favor of the bill, six were opposed and one abstained which was counted as a “yes” vote under Senate ru…

(Reuters) — U.S. travel and leisure stocks surged on Wednesday after BioNtech SE and Pfizer Inc said a three-shot course of their Covid-19 vaccine was able to neutralize the new Omicron variant. Shares of U.S. airlines — including Delta Air Lines Inc, United Airlines Holdings Inc, American Airlines…

HONG KONG (Reuters) — Macau’s gaming regulator has ordered junket operators in the world’s largest gambling hub to stop offering credit to customers, according to brokerage firm Bernstein. Macau’s Gaming Inspection and Coordination Bureau has ordered the operators, who bring big-s…