WASHINGTON (Reuters) – President Joe Biden’s pointed criticism of oil and gas companies for earning massive profits as families suffer from high gasoline prices challenges a pillar of American capitalism: that U.S. companies should make as much profit as they legally can, and direct that windfall back to investors.FILE PHOTO: U.S. President Joe Biden leaves St. Edmond Roman Catholic Church […]

Hiring in Colorado slowed sharply in May after a big surge in April, continuing a yo-yo pattern in monthly job gains this year, according to an update Friday from the Colorado Department of Labor and Employment. Between April and May, employers in the state added 5,400 nonfarm payroll jobs on a seasonally-adjusted basis, including 200 in the government sector. That […]

Bob Topp, the retiring owner of Hermitage Bookshop, found his happy ending when couple and new owners Renee and Ian Colle approached him to purchase one of Denver’s oldest independent bookstores. The three hosted a spring soirée to commemorate their new chapter Wednesday evening, with long-time patrons and community members flocking to the Cherry Creek location at 290 Fillmore St. […]

Heavier reliance on air conditioning to keep cool threatens to knock out electricity more often as heat waves intensify, and Colorado officials this week are seeking utility “readiness” assurances after temps topped 100 degrees. A combination of earlier-than-expected extreme heat, extended drought and wildfires that can destroy transmission lines has raised outage risks, especially in the West. Shrinking water means […]

Software provider brightfin, which is based in Englewood, let go of 57 Ukrainian employees in mid-May as Russia continued its onslaught of the eastern European nation. However, for one of the 140 remaining Ukrainian workers, the full-time job is a reprieve from the war and a symbol of hope for the future. Kateryna Kychygina, or Кичигіна Катерина Дмитрівна, works as […]

FILE PHOTO: Ships and shipping containers are pictured at the port of Long Beach in Long Beach, California, U.S., January 30, 2019. REUTERS/Mike BlakeWASHINGTON (Reuters) – The U.S. trade deficit narrowed sharply in April as imports declined, suggesting that trade could contribute to economic growth this quarter for the first time in two years. The Commerce Department said on Tuesday […]

NEW YORK — The decision by Frontier Airlines to sweeten its offer for Spirit Airlines paid dividends Friday when an investor-advisory firm recommended the deal to Spirit shareholders. Glass Lewis supported the deal after Frontier added a $250 million breakup fee to the February agreement between boards of both budget airlines. The firm said a rival offer by JetBlue exceeds […]

FILE PHOTO: View of smokestacks, about 200m (656 feet) high, at a thermal power plant in Inchon, west of Seoul, February 1, 2007. REUTERS/Jo Yong-Hak SEOUL (Reuters) – South Korea’s factory activity growth slowed in May, as output and export orders contracted amid supply-chain disruptions due to China’s COVID-19 lockdown measures, a private-sector survey showed on Thursday. The S&P Global […]

(Reuters) -The S&P 500 index on Friday was set for its best weekly gain since mid-March as upbeat earnings, strength in consumer spending and signs of inflation peaking eased worries about a sharp slowdown in economic growth.Slideshow ( 2 images )The benchmark index and the tech-heavy Nasdaq appeared set to snap their longest weekly losing streak since the dotcom bust […]

Slideshow ( 2 images )(Reuters) – U.S. stock indexes opened higher on Friday as data showed strength in consumer spending and signs of peaking inflation, providing relief to investors worried about a sharp slowdown in economic growth. The Dow Jones Industrial Average rose 97.90 points, or 0.30%, at the open to 32,735.09. The S&P 500 opened higher by 19.59 points, […]