FRANKFURT, Germany (AP) — The European Central Bank has unveiled another stimulus injection for the sluggish eurozone economy, but the measures fell far short of what investors had expected and stock markets took a painful tumble.
For weeks, ECB head Mario Draghi had indicated that the bank, the chief monetary authority for the 19 countries that use the euro, would act decisively to raise inflation and shield the region from a slowdown in the global economy, notably China.
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen told Congress Thursday that economic conditions appear to be improving enough for policymakers to raise interest rates when they meet in two weeks — as long as there are no major shocks that undermine confidence.
Yellen said that even after the first rate hike, the Fed expects future rate increases will be at a gradual pace that will keep borrowing costs low for consumers and businesses.
NEW YORK (AP) — With the Thanksgiving weekend behind them and the big final rush of holiday shopping still to come, independent retailers have to get creative to bring customers in during the slowest part of the season.
The Shirt Box, a men's clothing store in Farmington Hills, Michigan, is holding events like bourbon tastings and giving lessons on tying bow ties on weekends.
Small and independent stores usually can't offer deep discounts like the national chain stores because the smaller players don't have the big sales volume that would allow them to absorb thinner margins from the come-ons.
[...] they can offer customers something most of the large stores like discounters and big-box retailers can't: a warmer, more emotional shopping experience.
Construction costs have ballooned to $6.5 billion, at least three times the original estimate, making Kemper one of the most expensive power plants ever built and pushing up electric bills for Mississippi Power's 186,000 customers.
Limited land to buil
