Bloomberg Business

Well-heeled NYC commuters looking to dodge traffic and reach their destination in style may soon have another option: taking to the sky in an electric air taxi.

US authorities have opened an investigation into a United Airlines Holdings Inc. flight that dropped toward the Pacific Ocean shortly after taking off from Hawaii in December.

Treasury Secretary Janet Yellen renewed her warning that Congress must raise the federal government’s debt ceiling to avoid an “economic and financial catastrophe.”

The S&P 500 Index closed nearly flat and the two-year Treasury yield added more than 10 basis points after data showed that inflation remained high. Two Federal Reserve officials then warned that the remedy might require higher interest rates for a long period of time, though one policymaker suggested that the end might be near.

Federal Reserve officials stressed the need for further interest-rate increases to help tame inflation, but expressed differing views about how close they are to stopping after new data showed signs of persistent price pressures.

The number of US marriages bounced back in 2021 from a 57-year-low the year before during the height of the Covid-19 pandemic.

Renewed pressure on the Federal Reserve to intensify its inflation battle in the grip of a still-resilient economy is forcing Wall Street pros to rethink the stock-trading landscape.

The Iran-made drones Russia is flying into Ukrainian targets are the same type that hit an oil tanker in 2021, killing two people, according to the Pentagon’s Defense intelligence Agency.

Christine Wilson, the sole Republican on the Federal Trade Commission, on Tuesday announced she is resigning from the agency over her fierce opposition to progressive FTC Chair Lina Khan’s agenda.

Oil extended losses that began after Monday’s close with the announcement that the US was selling more crude from its strategic reserves, with a higher-than-expected inflation figure adding pressure.