Summit of the Americas: President Biden discusses inflation, product shortages in San Pedro

President Biden made a speech at the Port of Los Angeles Friday on inflation and the actions the administration has taken to lower prices and address supply chain challenges.

US inflation hit 8.6% in May, a new 40-year high

Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labor Department said Friday.

Teens clueless on investing basics: study

A new study from Fidelity shows younger generation has little understanding of money issues.

Annual cost for child care up 41%: report

On average, parents are spending more than $14,000 a year on child care.

No, you're not imagining it — package sizes are shrinking, here's why

Shrinkflation isn’t new, experts say. But it increases during times of high inflation as companies grapple with high costs for ingredients, packaging, labor, and transportation.

Downtown LA growing despite pandemic: report

Downtown LA is bouncing back and growing despite the ongoing COVID-19 pandemic.

Go-broke dates pushed back for Social Security, Medicare

Social Security retirees got a 5.9% boost in benefits this year, the biggest cost-of-living adjustment in 39 years.

May jobs report: US added 390,000 jobs last month as hiring remained robust

U.S. employers added a healthy 390,000 jobs in May 2022, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and interest rates.

Walmart to create 4,000 jobs with 4 new fulfillment centers

The first of the four new new fulfillment centers will open this summer in Illinois. These centers will provide faster shipping of items to customers.

Amazon tests package deliveries directly from shopping malls

Amazon’s new service gives customers a convenient option to have merchandise delivered to their homes faster.

Key inflation measure slowed in April for the first time since 2020

High inflation is still causing hardships, but any slowing of price increases, if it can be sustained, will provide some modest relief.

Bank of America to raise minimum wage to $22 an hour

It’s part of the bank’s phased approach to raising its minimum wage to $25 an hour by 2025.