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Treasury Department Announces First State Small Business Credit Initiative Awards

WASHINGTON — The U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative. The American Rescue...

First-Time Claims Up, But Overall Unemployment Still at 50-Year Low

After a slight 1,000-claim increase that took first-time unemployment claims above 200,000 (it was eventually adjusted downward to 197,000) for the first time since February, the number of U.S....

Ford Recalls Certain ’21 Expedition, Navigator SUVs for Potential Under-Hood Fire Concern

DEARBORN, Mich. — Ford Motor Company is advising customers of certain 2021 Ford Expedition and Lincoln Navigator SUVs – built over a four-month period between late 2020 and early 2021...

No Recession in the First Quarter Despite a Decline in Real GDP: Economist

Real GDP was considerably worse than expected in the first quarter of 2022, contracting at a 1.4% annualized pace; Comerica had forecast 1.2% growth and the consensus 1.0% growth....

Stock Market Drops Amid Retailer Woes

Retail giants Target and Walmart announced disappointing financial figures this week, and the stock market did not react well. The Dow Jones Industrial Average sank more than 1,100 points and...

Michigan Submits Seven Highway Nominations for New Alternative Fuel Corridors

Michighan has nominated seven state highways as new Alternative Fuel Corridors, paving the way for electric vehicle charging infrastructure.

BMW joins Ford, GM in DTE Energy’s Smart Charge Program, Integrating EV Charging With...

BMW joins GM, Ford in DTE Energy's Smart Charge Program, aimed at reducing electricity use during high-demand times.

DFCU Financial Set to Acquire Florida Bank

DEARBORN, Mich. & TAMPA, Fla. (Globe Newswire) — The Boards of Directors of DFCU Financial and First Citrus Bancorporation, Inc., the holding company for First Citrus Bank, announced the...

Expert: Recession Fears Seem Overblown; the Worst Is Likely Past for Inflation

The economy unexpectedly contracted in the first quarter of 2022, but its underlying momentum remained solid, dispelling fears that it has slipped into recession. The first estimate of real...

First-Time Claims Up Slightly, But Overall Unemployment Rate Remains at 50-Year Low

The number of U.S. workers applying for unemployment benefits rose a little last week, climbing above 200,000 for the first time since February. But the overall number of Americans continuing...

Cadillac Calls Escalade-V Industry’s ‘Most Powerful’ Full-Size SUV

Cadillac revealed full details surrounding the 2023 Escalade-V — the industry’s most powerful full-size SUV. It is the first-ever Cadillac V-Series SUV — an elevation of design, performance and...

Report: Consumer Credit Health Remains Relatively Strong in Opening Quarter of 2022

CHICAGO (Globe Newswire) — Rising interest rates and the increased prices of goods and services placed pressure on the consumer wallet in the opening quarter of 2022. Despite the...

Detroit Riverfront Conservancy, Partners Break Ground on Ralph C. Wilson Park

Noting the area's "tremendous potential," the Detroit Riverfront Conservancy and its partners broke ground on the Ralph C. Wilson Centennial Park on Deteroit's West Riverfront.

U.S. Economy Adds 428,000 Jobs in April; Unemployment Stays at 3.6%

The Labor Department released statistics showing the U.S. economy added 428,000 jobs in April, with the unemployment rate holding at 3.6%.

White House: Internet Providers Set to Discount Access for Low-Income Users

The White House announced Monday it had reached a deal with 20 Internet providers to discount service for lower-income households.

U.S. to Spend $3.16 Billion to Boost Domestic Battery Manufacturing, Supply Chains

WASHINGTON — The U.S. Department of Energy announced $3.1 billion in funding from President Biden’s Bipartisan Infrastructure Law to make more batteries and components in America, bolster domestic supply...

Unemployment Claims See First Rise Since Early April

The streak of consecutive weeks of falling claims for first-time unemployment benefits is over. For the first time since early April, the number of U.S. workers filing initial claims for...

Fed Makes a Big Half-Percentage Point Hike, With Equal Hikes to Come in June...

The Federal Open Market Committee (FOMC) raised the federal funds target by a half percentage point to a range of three-quarters-to-one percent at their unanimous May 4 decision. This...

GMC Introduces First-Ever 2023 Yukon Denali Ultimate

DETROIT – The GMC Yukon helped create the Denali brand — now the 2023 GMC Yukon Denali Ultimate trim elevates the iconic sub-brand. Distinguished with exterior and interior details, next-level materials,...

April U.S. Retail Sales Remain Steady, Up +7.2%* Year-Over-Year: Report

PURCHASE, N.Y. (Business Wire) — From a clean home to a new wardrobe, Spring brings fresh starts and beckons consumers outside and back into stores. According to Mastercard SpendingPulse, which measures...