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The Detroit News


Business news from Detroit and Michigan






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Global power grids pushed to breaking point

Mix extreme heat and longer droughts, surging post-pandemic power demand, rising fossil fuel prices and a bumpy transition into renewables, and the result is a severe global power crunch.

Fed sees earlier time frame for rate hikes with inflation up

The Fed signaled that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation.

DOJ sues to block AON's $30B acquisition of Willis Towers

The Justice Department on Wednesday announced the antitrust suit filed in federal court in Washington seeking to stop AONs proposed $30 billion acquisition of rival benefits and risk consultant Willis Towers Watson.

Sports Illustrated branching out into ticket marketplace

Authentic Brand Groups, which manages the Sports Illustrated brand, announced Wednesday it is teaming up with Venmo to launch SI Tix.

Detroit Metro Airport's North Terminal to be renamed after county exec Warren Evans

The airport board voted unanimously for the change Wednesday; a dedication ceremony is expected next spring.

Millions fear eviction as housing crisis worsens

Two studies found that the nation's housing availability and affordability crisis is expected to worsen significantly following the pandemic.

Stocks dip, yields rise as Fed hints at dialing back support

Stocks fell further from their records and bond yields rose, Wednesday, after the Fed signaled they may start raising interest rates in two years.

White House: Markets showing little worry about inflation

The White House believes it has an ally in the bond markets to make the case that inflation isn't an economic threat.

Inside Pfizer's race to produce the world's biggest supply of COVID vaccine

Pfizer expects to make enough for 3B shots in 2021, twice as much as initial projections and enough of the two-dose immunization for 1.5B people.

Huntington commits to $40 billion community plan, with $1B for Detroit and Wayne County

Huntington leaders said the new plan -- its largest ever -- is aimed at social, racial, environmental inequities across its multi-state footprint.

Want a job? Employers say: Talk to the computer

Demand for online hiring services, which interview job applicants remotely via laptop or phone, mushroomed during the COVID-19.

Latinas left US workforce at highest rate, see slow recovery

Latinas have left the U.S. workforce at rates higher than any other demographic and have had some of the highest unemployment rates throughout the pandemic.

Slower pig slaughtering has farmers worried hog rally has peaked

U.S. pork plants are slowing down, threatening to derail the biggest rally pig farmers have seen in years.

Biden weighs small cut to biofuel targets in nod to refiners

Biden's biofuel targets are likely to be relatively flat or even lower as he seeks balance between blue-collar refining workers and clean-energy.
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