Price Increases Cooled in November as Inflation Falls Toward Fed Target
Business

Price Increases Cooled in November as Inflation Falls Toward Fed Target

A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs.The Personal Consumption Expenditures inflation measure, which the Fed cites when it says it aims for 2 percent inflation on average over time, climbed 2.6 percent in the year through November. That was down from 2.9 percent the previous month, and was less than what economists had forecast. Compared with the previous month, prices overall even fell slightly for the first time in years.That decline — a 0.1 percent drop, and the first negative reading since April 2020 — came as gas prices dropped. After volatile food and fuel prices we...
A Cold War Era Dispute Between Venezuela and Guyana Complicates U.S. Relations
Politics

A Cold War Era Dispute Between Venezuela and Guyana Complicates U.S. Relations

It was the depths of the Cold War in the 1960s, and Caracas was on edge.Marxist guerrillas in Venezuela were getting weapons and training from Cuba’s Fidel Castro. Along Venezuela’s eastern border, anticolonial leaders in what was then British Guiana were agitating for independence.Alarmed that a Guyanese leader could create a Cuban beachhead in South America, Venezuela’s staunchly anti-Communist president, Rómulo Betancourt, came up with a strategy, which blunted the independence push: At the United Nations, his government resurrected a long-festering claim to more than half of Guyana’s territory.Now the dispute over Essequibo — an oil-rich, Guyanese region nearly the size of Florida — has flared back to life. This month, Venezuela’s president, Nicolás Maduro, unveiled new maps displaying...
How Tongue Tie and Lip Tie Surgery Became a Big Business
Health

How Tongue Tie and Lip Tie Surgery Became a Big Business

Later in 2020, Ms. Lavelle also complained to the board, describing how she had been traumatized by her daughter’s tongue-tie release.The lactation board, which reports its disciplinary decisions, has not taken action against Ms. Henstrom. A spokeswoman for the board, Susan Brayshaw, declined to comment on the complaints, citing a policy of confidentiality. “Some complaints take significantly longer than others due to the nature of the allegations and related investigations,” she said.Since 2002, the board has revoked the certifications of only three lactation consultants.Ms. Lavelle also filed a complaint against Dr. Zink with the Idaho board of dentistry. The board collected medical records and statements from Ms. Lavelle and Dr. Zink. Dr. Zink told the board that June’s procedure was “u...
NFL Power Rankings Week 16: 49ers, Ravens on top, plus a surprise from every team
Sports

NFL Power Rankings Week 16: 49ers, Ravens on top, plus a surprise from every team

We’re coming down the stretch of the NFL season, and the playoff seedings and Power Rankings are starting to sort themselves out, but that doesn’t mean there haven’t been some surprises along the way. Today, we’re going to look at one surprising aspect of each team’s season.And then we’re going to start looking forward to a No. 1 vs. No. 2 matchup in Week 16 of the season.(Last week: 1)Sunday: Beat Arizona Cardinals 45-29Surprise: Brock PurdyWe’ve let all the talk about whether the second-year quarterback is a top-10 quarterback in the league or even possibly the MVP obscure what remains at its heart the most remarkable story in the league. Purdy, the last pick of the 2022 draft, is now 16-3 as a starting quarterback. His passer rating (119) and expected points added per dropback (.32) lea...
New Jersey Deli Scheme Leads to Securities Fraud Guilty Plea
Technology

New Jersey Deli Scheme Leads to Securities Fraud Guilty Plea

A man involved in a brazen plot to manipulate the stock price of a New Jersey deli’s parent company pleaded guilty to securities fraud on Wednesday.James T. Patten, 64, of North Carolina, admitted to orchestrating a series of misleading trades in an apparent bid to enrich himself and two co-defendants in U.S. District Court in Camden, N.J.Mr. Patten faces up to 20 years in prison and a fine of up to $5 million for securities fraud. He also pleaded guilty to a charge of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison and a fine of up to $250,000.Mr. Patten’s lawyer, Ira Lee Sorkin, said in an interview on Wednesday that attention on the case “was exaggerated beyond any perception — that this was some $100 million fraud involving a delicatessen...
How China Is Profiting From Trade With Russia
Business

How China Is Profiting From Trade With Russia

On China’s snowy border with Russia, a dealership that sells trucks has seen its sales double in the past year thanks to Russian customers. China’s exports to its neighbor are so strong that Chinese construction workers built warehouses and 20-story office towers at the border this summer.The border town Heihe is a microcosm of China’s ever closer economic relationship with Russia. China is profiting from Russia’s invasion of Ukraine, which has led Russia to switch from the West to China for purchases of everything from cars to computer chips.Russia, in turn, has sold oil and natural gas to China at deep discounts. Russian chocolates, sausages and other consumer goods have become plentiful in Chinese supermarkets. Trade between Russia and China surpassed $200 billion in the first 11 months...