WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth. Prices rose 0.4% from August to September, the same as the previous month. And compared with 12 months earlier, inflation was unchanged at 3.4%.
NEW YORK — About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period. That’s according to a new poll from The Associated Press-NORC Center for Public Affairs Research. As household expenses outpace earnings, many are expressing concern about their financial futures. What’s more, for most Americans, household debt is rising or not going away.
ATLANTA — For more than a decade, work had been nonstop in Atlanta’s booming film industry thanks to Georgia’s extremely generous tax break. Dubbed the “Hollywood of the South,” metro Atlanta became ubiquitous as a backdrop for huge projects, including Marvel films and “Stranger Things.” But work dried up last winter and has been at a near-standstill ever since the industry’s writers went on strike in May and the actors joined them in July.
NEW YORK — A former model for Abercrombie & Fitch has sued the fashion retailer, alleging it allowed its former CEO Mike Jeffries to run a sex-trafficking organization during his 22-year tenure. Jeffries left Abercrombie in 2014. While there, he converted the chain from an struggling retailer of hunting apparel to a seller of must-have teen clothing.
NEW YORK — JPMorgan Chairman and CEO Jamie Dimon and his family are planning to sell 1 million shares of the bank starting next year, according to a regulatory filing. This is Dimon’s first such stock sale since he began his tenure with JPMorgan, the filing with the Securities and Exchange Commission said. Dimon and his family currently hold about 8.6 million shares of the bank.The S&P 500 lost 19.86 points, or 0.5%, to 4,117.37. The Dow Jones Industrial Average fell 366.71 points, or 1.
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