Breaking News

Business

Powell signals increased rate hikes if economy stays strong

WASHINGTON (AP) — The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a Senate panel Tuesday. “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell testified to the Senate Banking Committee. “If the totality of the data were to indicate that faster tightening ...

Local couple opens new gaming shop

LEWISTOWN — The husband and wife duo of Lyndsey and Andy Hagerty along with several knowledgeable staff are looking to build something special for the people of Mifflin County through spiritual healing, as well as a fun and safe place for gaming, with their business called Moon Dragon. The ...

Ford to raise production as US auto sales recover

DEARBORN, Mich. (AP) — Ford will increase production of six models this year, half of them electric, as the company and the auto industry start to rebound from sluggish U.S. sales in 2022. The automaker announced Friday that it plans to build more of the Mustang Mach-E, the Bronco Sport SUV and Maverick small pickup, the F-150 Lightning electric pickup and the Transit and E-Transit gas and electric full-size vans. To help increase production, the company last year said it would add a third shift and 1,100 jobs at its full-size van plant in Claycomo, Missouri, near Kansas City, and ...

Stocks jump as Wall Street has best day since January

NEW YORK (AP) — Stocks rallied Friday to send Wall Street to its best day in six weeks. The S&P 500 rose 1.6% to cap its first winning week in the last four as relaxing yields in the bond market took some pressure off Wall Street. It’s found some stability following a swift rise and fall to start the year. The Dow Jones Industrial Average climbed 387 points, or 1.2%, while the Nasdaq composite jumped 2%. The central guidepost moving markets recently has been where inflation is heading and what the Federal Reserve will do about it. “I’d love to talk about other things, but ...

JVB appoints Wolf Executive VP, CFO

MIFFLINTOWN — Juniata Valley Financial Corp., parent company of The Juniata Valley Bank, appointed Michael W. Wolf to the position of Executive Vice President and Chief Financial Officer at The Juniata Valley Bank. Wolf, whose appointment took effect on Feb. 21, 2022, has been employed by the bank since Sept. 2021. In June 2022, he was appointed to the position of senior vice president and chief financial officer. He brings 25 years of experience in the financial services industry, including public accounting and internal audit experience. He has served as a vice-president at ...

Lilly plans to slash some insulin prices

By TOM MURPHY The Associated Press Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on the costs they pay to fill prescriptions. The moves promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin. Lilly’s changes also come as lawmakers pressure drugmakers to do something about soaring prices. Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% or more in the fourth quarter. Eli Lilly ...