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What it would mean for the economy if US defaults on debt

WASHINGTON (AP) — If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the world. Orders for Chinese factories that sell electronics to the United States could dry up. Swiss investors who own U.S. Treasurys would suffer losses. Sri Lankan companies could no longer deploy dollars as an alternative to their own dodgy currency. “No corner of the global economy will be spared’’ if the U.S. ...

Ford to stop competing in over-served markets, won’t be all things to all people

DEARBORN, Mich. (AP) — Ford CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services. The days of Ford being all things to all people are over, Farley said at the company’s capital markets day event Monday. The company, he said, has been “stuck in a box,” with thin profit margins, weak growth and low stock valuation. Ford, Farley said, will emphasize software and services as well as iconic vehicles such as pickup trucks, large SUVs, commercial vehicles and advanced ...

Chamber of Commerce holds annual awards celebration

LEWISTOWN — Juniata River Valley Chamber of Commerce Executive Director Rhonda Kelley said the Juniata Valley is currently experiencing tremendous growth. She attributes that to the individuals, businesses and organizations who invest their time, talents and capital in the community. The ...

Dumpster rental business changes hands

From Staff Reports LEWISTOWN — A business that provides dumpster rental services has changed hands. Dylan Cassidy, of Lewistown, is currently the owner of Keystone Dumpster Rentals. Cassidy said the business offers affordable, compact roll–off dumpster service to Mifflin County and ...

Wall Street’s best week since March stalls amid debt worries

NEW YORK (AP) — Wall Street’s best week since March ran out of steam Friday as worries rose about the U.S. government’s efforts to avoid a potentially disastrous default on its debt. The S&P 500 slipped 6.07 points, or 0.1%, to 4,191.98. The Dow Jones Industrial Average fell 109.28, or 0.3%, to 33,426.63, while the Nasdaq composite gave up 30.94, or 0.2%, to 12,657.90. Despite its weak Friday, the S&P 500 still managed to break out of a long, listless stretch where it failed to move by 1%, up or down, for six straight weeks. It gained 1.6%, with much of the strength earlier in ...

$3 billion accounting error means the Pentagon can send more weapons

WASHINGTON (AP) — The Pentagon has overestimated the value of the weapons it has sent to Ukraine by at least $3 billion — an accounting error that could be a boon for the war effort because it will allow the Defense Department to send more weapons now without asking Congress for more money. The acknowledgment Thursday comes at a time when Pentagon is under increased pressure by Congress to show accountability for the billions of dollars it has sent in weapons, ammunition and equipment to Ukraine and as some lawmakers question whether that level of support should continue. It also ...