Why are gas prices rising?

August 3, 2023

NEW YORK (AP) — Drivers are in for another headache at the pump as U.S. gas prices continue to rise. The national average for gas prices stood at about $3.78 a gallon on Tuesday — about 25 cents higher than that seen one month ago, according to motor club AAA. While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual. “Usually it takes a hurricane to move prices that much,” said AAA spokesperson Andrew Gross, who said the rise is ...

Electronic Arts, Generac fall; Humana, CVS Health rise

August 3, 2023

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Wednesday: Electronic Arts Inc., down $9.81 to $126.31. The maker of The Sims, Medal of Honor and other video games reported disappointing fiscal first-quarter financial results. Scotts Miracle-Gro Co., down $13.58 to $57.86. The lawn and garden products company reported weak fiscal third-quarter earnings. Humana Inc., up $25.64 to $483.75. The health insurer posted strong second-quarter financial results. Fresh Del Monte Produce Inc., up $1.24 to $27.70. The food producer handily beat ...

Stock market today: Wall Street tumbles to its worst loss in months

August 3, 2023

NEW YORK (AP) — Wall Street is heading for its worst drop in months on Wednesday as a torrid rally that critics called overdone lost momentum. The S&P 500 was down 1.3% in afternoon trading and heading for its sharpest drop since April. It would also mark a second straight loss after hitting a 16-month high. The Dow Jones Industrial Average was down 334 points, or 0.9%, at 35,296, as of 2:45 p.m. Eastern time, and the Nasdaq composite was 2.1% lower. Prices were mixed in the bond market after Fitch Ratings cut the credit rating of the U.S. government. The repeated standoffs in ...

Saudi Arabia to grant Yemen $1.2 billion in economic aid

August 2, 2023

Ahmed al-Haj (AP) — Saudi Arabia said Tuesday it will grant $1.2 billion in financial aid to Yemen’s internationally recognized government in a bid to bolster the country’s struggling economy. Riyadh said in a statement the cash injection is part of Saudi Arabia’s ongoing efforts to help stabilize Yemini food prices, address the country’s budget deficit and support salary payments. Yemen’s civil war, now entering its ninth year, has ravaged the country’s economy, catapulted food prices and pushed half of the population to the brink of famine. The conflict in the South ...

Mystery travel lets you focus on the fun, not details

August 2, 2023

NerdWallet Travel planning can be a real chore. Booking flights, deciding on the right hotel and building an itinerary might be fun for some, but others dread it. That’s why some travelers are opting for an unorthodox travel strategy that eliminates the planning stage altogether. It’s called “mystery” or “suprise” travel, and the destination isn’t revealed until the day of departure. This idea isn’t new. Some friend groups plan regular mystery travel vacations, with one person or family planning and booking the itinerary for everyone else. Lanie van der Horst, a ...

Virginia Republicans offer concession on tax plan as budget stalemate drags on

August 2, 2023

RICHMOND, Va. (AP) — The top budget negotiator for Virginia House Republicans said Monday he offered a major compromise nearly two weeks ago that would end his party’s push this year for a reduction in the top individual tax rate, but he’s still waiting for a response from Democratic leaders. “It’s a tremendous compromise,” Del. Barry Knight said of his offer to the Democratic senators with whom he’s been working for months to try to reach a resolution on the state’s budget stalemate. Though Democrats were scheduled to meet later this week to discuss Knight’s offer, ...