Economy

News brief: gun legislation, Powell on Capitol Hill, 4th House Jan. 6 hearing

6:14am June 22, 2022

Senators reach a bipartisan deal on a gun safety bill. Fed chairman will testify before two congressional panels this week. Jan. 6 hearing shows how Trump pressured state officials on election tally.

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Economy

Fed chairman will testify before a pair of Congressional committees this week

5:04am June 22, 2022

Federal Reserve Chairman Powell answers questions from a Senate committee Wednesday. He's sure to be asked about inflation and possible fallout from the Fed's efforts to bring prices under control.

An entrance to Waterloo underground station stands shuttered closed for strike action in Waterloo railway station, in London, Tuesday, June 21, 2022.

Economy

U.K. inflation rate hits a new 40-year high of 9.1%

4:19am June 22, 2022

by The Associated Press

The increase is in line with analysts' expectations and comes as the Bank of England says inflation could hit 11% in October, when a cap on domestic energy bills is lifted.

Despite what the internet may think, this 7-Eleven in Chicago is not selling gas for $7.11.

No, this 7-Eleven isn't charging $7.11 for gas, even if the internet says so

8:20pm June 21, 2022

by Fernando Alfonso III

A viral image of a 7-Eleven charging $7.11 was taken in 2021, and doesn't reflect the current state of gas prices in the U.S.

Around 35,000 Californians are waiting for their wage theft claims to be investigated

5:10pm June 21, 2022

by Farida Jhabvala Romero / KQED

More than 35,000 Californians who say their employers cheated them out of pay could wait a long time for justice. The state agency tasked with investigating their cases is backlogged and underfunded.

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Orick, California, is the gateway to Redwood National and State Parks.

The tale of a distressed American town on the doorstep of a natural paradise

12:42pm June 21, 2022

by Greg Rosalsky

The town of Orick sits just steps away from Redwood National Park. It has prime real estate for recreation and tourism, so why are its motels and restaurants shuttered and its residents impoverished?

A passenger at Euston station in London looks at the departures board on the first day of a rail strike on Tuesday June 21, 2022.

Major stations across the U.K. are deserted as a rail strike begins

5:20am June 21, 2022

by The Associated Press

More strikes are planned later this week in a rail dispute over pay, working conditions and job security.

A visual representation of the digital Cryptocurrency, Bitcoin. A new report says the technology's security is vulnerable.

Cryptocurrency tech is vulnerable to tampering, a DARPA analysis finds

5:01am June 21, 2022

by Martin Kaste

A new analysis commissioned by DARPA quantifies how the decentralized tech that runs the currency system could be compromised.

President Joe Biden talks to the media after walking on the beach Monday with his granddaughter Natalie Biden, left, and his daughter Ashley Biden at Rehoboth Beach, Del.

Gas tax holiday? Biden says a decision could come by the end of the week

1:53pm June 20, 2022

by The Associated Press

Gas prices are finally dropping a bit after topping $5 per gallon, but the president says he's still considering suspending the federal gas tax, which could save Americans up to 18.4 cents per gallon.

The national average for a gallon of regular gasoline stands at $4.98, according to AAA. Here, a gas station in McLean, Va., displays it prices last week.

Gas prices fall below $5 per gallon in the first weekly drop since April

11:26am June 20, 2022

by Bill Chappell

The drop doesn't signal a rapid descent to the low prices of 2021, but drivers could see modest decreases continue in the coming weeks, analysts say.