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Business

FNB to close branch site at Tadych’s supermarket Aug. 1

IRON MOUNTAIN — First National Bank & Trust has decided not to renew its in-store branch contract with Tadych’s Marketplace Foods supermarket in Iron Mountain. “The closing of brick and mortar bank branch offices is a national trend as more and more consumers use digital banking ...

Whitmer rejects proposed off-reservation casino project

LANSING, Mich. (AP) — Gov. Gretchen Whitmer rejected a proposal for a $180 million off-reservation casino in western Michigan that a tribe has been working toward for over a decade. Whitmer's rejection of the proposal Wednesday came after the U.S. Department of Interior rejected her request ...

Production at formula factory halted by storm

Severe weather forced Abbott Nutrition to pause production at a Michigan baby formula factory that had just restarted after being closed for several months, contributing to a national shortage. Production for Abbott's EleCare specialty formula has been suspended, but there is enough supply to ...

Fed attacks inflation with its largest rate hike since 1994

WASHINGTON (AP) — The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a ...

Bear market hits Wall Street as stocks, bonds, crypto dive

NEW YORK (AP) — Wall Street tumbled into what's called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year. The index sank 3.9% in the first chance for investors to trade after getting the ...

Average US gasoline price jumps 39 cents to $5.10 per gallon

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline spiked 39 cents over the past three weeks to $5.10 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump comes amid higher crude oil costs and tight gasoline ...