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As stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows

WASHINGTON (AP) — U.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices hover near record levels. The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains. The measure hasn’t fallen as much this year as other gauges of consumer attitudes, but it has been stuck at a low level since the pandemic. Before COVID-19, it regularly reached 130. A separate gauge of consumer sentiment released last week by the ...

Oil giant BP ousts new chairman over ‘conduct’ and shares slide

BP has ousted its chairman over what it called serious concerns related to “important governance standards, oversight and conduct.” The departure was abrupt and unexpected, with Albert Manifold having been appointed to the position late last year. “Albert has helped bring a welcome focus and pace to BP’s transformation,” Amanda Blanc, senior independent director, said in a statement Tuesday. “However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.” BP’s board was ...

Trouble on the farm

MONTEZUMA, Kan. — Orville Williams has had a healthy wheat crop on his 2,600-acre farm in Montezuma, Kansas, every year since he was a teenager. It hasn’t always been easy. For instance, there were challenging economic times through the 1980s and various degrees of drought affecting his ...

New business unlocks vault of treasures and trinkets

WARREN — Stepping into the Vault of Vendors LLC feels like wandering into a storybook brought to life. Inside, 26 unique vendors showcase their treasures from small individual kiosks. The grand opening celebration of the store at 1555 Woodland St. NE took place the first weekend in May, ...

6 tax tips you should consider

Now that tax season is over, you’re probably tempted to not think about taxes again until next year. That could be a costly mistake. Asking the right questions throughout the year could help you financially come next tax season. In the long run, this could have a substantial impact on your wealth. Here are six common ways taxpayers get off track and the questions they should ask themselves during the tax year. DON’T ASSUME THE ANSWER IS THE SAME AS LAST YEAR Taxpayers often default to “same as last year” thinking. But tax outcomes depend on variables that shift constantly, ...

Affordable Care Act enrollment projected to plunge

NEW YORK — Nationwide enrollment in the Affordable Care Act health insurance marketplace could plummet by nearly 5 million people this year, shrinking the number of participants in the program by more than 20%, according to a new analysis from the healthcare research nonprofit KFF. Those ...