>>Consumer Sentiment Remains Strong In February
(Ann Arbor, MI) -- Consumer sentiment remains strong for a third straight month. The University of Michigan's early reading for February rose slightly after posting large gains the past two months. The survey noted increasing confidence about the economy and slowing inflation. Consumer sentiment is currently about 30 percent above November 2023 and just six-percent below its historical average.
>>Producer Price Index Rises In January
(Washington , DC) -- The producer price index rose more than expected in January. The Labor Department reported wholesale prices increased three-tenths of a percent after a slight decline in December. Economists say the spike complicates the inflation picture. The PPI measures the prices producers pay for goods and services.
>>Verdict Expected Today In Trump's NY Fraud Trial
(New York, NY) -- A verdict in former President Donald Trump's civil fraud trial is expected today. The New York judge overseeing the case has already found Trump did engage in fraud, and must now decide what penalties he and his company should pay. State Attorney General Letitia James is seeking 370-million dollars and a ban on Trump and other defendants doing business in New York.
>>Mortgage Rates Climb After Long Period Of Treading Water
(Washington, DC) -- Mortgage rates in the U.S. are jumping after strong employment and inflation reports. The 30-year fixed-rate mortgage averaged six-point-seven-seven-percent this week. That's up from six-point-six-four the previous week, according to Freddie Mac data. It's still higher than a year ago, when the average rate was just over six-point-three-percent. Sam Khater, Freddie Mac's chief economist, said "the economy has been performing well so far this year and rates may stay higher for longer, potentially slowing the spring homebuying season.
>>Boosting Meta Posts On iOS To Incur Apple Fee
(Menlo Park, CA) -- Meta says that businesses using iOS versions of its social media apps will now have to pay an extra 30-percent service charge levied by Apple for boosting their posts and content. A spokesperson for Meta said the company had to either comply with Apple's guidelines or remove boosted posts altogether. The changes start this month in the U.S.
>>Waymo Issues Recall
(Phoenix, AZ) -- Autonomous vehicle operator Waymo is recalling a previous version of its software that was used in its driverless cars. The recall announced this week stems from an incident in December when two self-driving Waymo vehicles in Arizona crashed into a pickup truck that was being towed. A spokesperson for the company says Waymo's automated driving system incorrectly predicted the future motion of the towed vehicle, which was reportedly being improperly towed. There weren't any passengers in either Waymo vehicle and no injuries were reported.
>>Customers Returning Apple Vision Pro
(Undated) -- Social media accounts are showing an uptick in the number of people already returning their new Apple Vision Pro mixed-reality headsets. Comfort is among the top reasons for returning the 35-hundred-dollar tech, with people saying it gave them headaches and motion sickness. Another complaint is that it's just not useful enough for the price.
