Business & Economy
Associated Press/Photo by Susan Walsh

Fed announces rate hike

by Les Sillars
Posted 12/20/18, 11:07 am

The Federal Reserve announced Wednesday it is raising the target range for its key interest rate from 2.25 percent to 2.5 percent, its highest level since 2008, to reflect the economy’s growing strength. Chairman Jerome Powell also said the Fed anticipates increasing rates only twice more in 2019 instead of the three times as it previously forecast. It’s good news for those with savings and money market accounts. But those with plans to borrow money or have variable rate debt, such as adjustable rate mortgages and home equity lines of credit, will probably have to pay more.

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Associated Press/Photo by Danny Johnston (file)

Marriott data breach affects up to 500 million

by Rachel Lynn Aldrich
Posted 11/30/18, 11:16 am

Marriott on Friday announced a massive data breach that compromised the information of as many as 500 million guests at its Starwood hotels. The company said that it discovered unauthorized access within its Starwood reservation network, which includes Sheraton, Westin, and other hotel brands, has been occurring since 2014. Some guests’ credit card numbers and expiration dates could have been taken, according to the company.

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Associated Press/Photo by Nati Harnik

Shoppers line up on Black Friday (and Thursday, too)

by Lynde Langdon
Posted 11/23/18, 12:55 pm

The Christmas shopping season officially kicks off with Black Friday, but early bird shoppers in stores that opened Thursday evening have already snatched up some of the season’s most popular items. BlackFriday.com reported that Target had sold out of the Nintendo Switch, Apple Watch, PlayStation 4, and Instant Pot pressure cooker by Friday morning. Walmart also ran out of the PlayStation 4 and Instant Pot on Thursday.

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