• Reuters

    Weak GDP, strong prices, highlight Fed dilemma

    U.S. economic growth in the first quarter fell below the Federal Reserve's estimates of the economy's long-run potential for the first time in nearly two years, but the signs of slowing were accompanied with fast inflation that, if sustained, would pose a particular dilemma for the central bank. Fed officials through much of their battle with a pandemic-driven breakout of inflation said they thought it would take a period of below-trend growth to really bring price pressures into line, and the 1.6% rate of expansion registered in the first quarter met that mark after a period above the central bank's median 1.8% estimate of noninflationary potential. But prices have remained sticky, with the personal consumption expenditures price index over the first quarter rising at a 3.4% annual rate versus the Fed's 2% target.

  • USA TODAY

    See how a former animal testing laboratory is transformed into an animal sanctuary

    An animal rights activist is turning an animal testing laboratory into a sanctuary and rehab center for dogs and cats who have spent their lives caged in a lab.

  • Reuters

    UPDATE 1-Nasdaq's revenue beats on strong demand for fintech products

    Nasdaq beat estimates for first-quarter revenue on Thursday, driven by strong demand for its financial technology products used by traders and investors to navigate the capital markets. Revenue from its financial technology unit surged 71% to $392 million in the first quarter, while revenue from its index business jumped 53% to $168 million. "Our performance underscores the durability of our business model and our ability to deliver growth across uncertain environments," said Adena Friedman, chief executive officer, at Nasdaq on an analysts' call.