Inflation Holds Steady; Core Prices Rise
Did inflation increase last month? The answer to that question depends on which mark you’re watching.
According to statistics released by the Labor Department Tuesday, consumer prices rose 2.7% from...
Kodak Says It May Have to Cease Operations
Eastman Kodak has been providing photography services and products for 133 years.
But, while issuing its earnings report Monday, the company warned it may not be doing it for much...
Struggling Spirit May Not Be Able to Stay in the Air
Spirit Airlines emerged from bankruptcy protection in March.
Some five months later, officials are warning the airline may not be able to stay in business.
Spirit Aviation Holdings, the budget carrier's...
Hotter-Than-Expected Core CPI Puts a Pebble on the Scales
Key Takeaways:
CPI rose slightly less than expected in July, but core CPI was a little hotter than expected.
Prices of gasoline and other energy goods fell, offset by higher prices...
Economy Sees Modest Drop in Unemployment Applications
It wasn’t a great fall, but the number of people seeking first-time unemployment benefits did drop slightly.
The number of Americans filing for jobless benefits still remain in an historically...
State Pauses Plans For I-375 Boulevard Project
Citing burgeoning costs, the Michigan Department of Transportation said it is "taking a step back" in the development of the I-375 boulevard project.
Companies, Consumers Begin Feeling Tariff Impact
President Donald Trump’s latest tariffs began Thursday, meaning dozens of countries are now subject to higher tariffs on goods their businesses send to the U.S.
The tariffs, which Trump announced...
Computer Chip Market Faces Higher Tariffs
Companies who don’t build their computer chips in the U.S. can expect to start paying a price.
President Donald Trump said Wednesday he will impose a 100% tariff on computer...
July’s Weak Job Growth Pressures the Fed to Cut in September
U.S. employers added 73,000 nonfarm payroll jobs in July, near Comerica’s forecast for a gain of 80,000 and below the 104,000 consensus forecast. There was a big 258,000 downward...
Unemployment Applications Rise Slightly
The number of U.S. workers filing for unemployment benefits was up last week, but only a little.
According to statistics released by the Labor Department, jobless claims for the week...
Trade Deficit Falls, Fed Leaves Rates Alone
The economic calendar is light this week. The trade deficit is expected to have fallen sharply in June as goods imports declined further on the back of steep tariffs...
Downtown Detroit Partnership Picks AECOM to lead I-75 Cap Feasibility Study
The Downtown Detroit Partnership has chosen Detroit engineering firm AECOM to take what they're calling the "critical next step" in the I-75 Cap Feasibility plan.
Tourism Industry Generates $54.8 Billion in Economic Impact
A new study shows that the tourism industry had a $54.8 billion economic impact on MIchigan in 2024.
Key U.S. Inflation Gauge Rises Slightly
The Federal Reserve’s preferred inflation gauge climbed a little higher last month, with prices rising 2.6% in June compared with a year ago.
The Commerce Department reported Thursday prices were...
U.S. Announces Higher Tariffs, Including 35% on Canada
President Donald Trump’s tariff rates were supposed to kick in Friday, but have now been delayed a week.
Trump signed a pair of executive orders this week that increase tariffs...
Consumer Confidence Rose Slightly in July
The way Americans view the U.S. economy improved in July, but they appear to still be concerned about the impact of the country’s shifting implementation of tariffs on their...
Fed Held Rates Steady in July, With No Signal of September Cut
Key Takeaways:
As expected, the Federal Reserve held their policy rate unchanged at their July meeting.
While two members of the rate-setting committee dissented and voted for an immediate cut, most...
Microsoft Cloud and AI Strength Fuel Fourth-Quarter Surge
Microsoft said Wednesday that annual revenue for its flagship Azure cloud computing platform has surpassed $75 billion, up 34% from a year earlier.
The Azure cloud business is a centerpiece...
Fed Ducks Pressure, Holds Interest Rate Steady
Despite heavy pressure from the White House, Federal Reserve officials decided against a rate cut at its Wednesday meeting.
Golf Outing Boosts Scholarships for Women in Auto Industry
The Automotive Women's Alliance Foundation hosts its annual golf outing, which has produced more than $700,000 in scholarships for women interested in the auto imdustry.
