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Economy

Fed edges toward its first rate hike since 2006

WASHINGTON — The Federal Reserve is getting close to raising interest rates for the first time in nearly a decade, perhaps in September. When it meets this week, though, don’t expect any timetable for a rate hike to be spelled ...

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Unemployment lowest in 7 years

In June, New York state’s private sector job count climbed by 24,200, or 0.3 percent to 7.8 million, a new record high, according to preliminary figures released Thursday by the state Department of Labor. Over the past two months, the ...

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Yellen: Fed still on track to raise rates this year

WASHINGTON — Federal Reserve Chair Janet Yellen said the Fed is on track to start raising interest rates later this year but expressed multiple concerns over headwinds that are still holding back the U.S. economy. She described the outlook for ...

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Rent hikes force small businesses to move, revamp

  NEW YORK — Rising commercial rents in newly trendy areas are forcing some small companies to change not only where they do business, but how they do it. When Turchin Jewelry’s owners decided to leave Miami’s Design District rather ...

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Lack of Greek proposals leaves eurozone on edge

BRUSSELS (AP) — Greek Prime Minister Alexis Tsipras strode into a summit of eurozone leaders with a beaming smile Tuesday, but was met with anger when it became clear he had no written proposal on how to save his country ...

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After vote win, Greece’s Tsipras looks to rebuild talks

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ATHENS, Greece — Despite triumphing in a popular vote against austerity, Greece on Monday faced the urgent need to heal its ties with European creditors and reach a financial rescue deal that might prevent it from falling out of the ...

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What’s next, as Greece stumbles toward euro exit

FRANKFURT, Germany — Greece is at the last chance saloon, thirsty and out of credit. Next stop could be the badlands of euro exit. Without a deal on more bailout loans, the heavily indebted country faces looming financial hurdles in ...

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Proposals for Southern Tier casino face deadline

ALBANY (AP) — Groups interested in bidding for a single available casino license in New York’s Southern Tier are up against a deadline. Monday is the last day developers can submit their ideas to state gambling regulators. So far only ...

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Why a higher-rate era may not pain economies, individuals

WASHINGTON — Consumers, businesses and investors are facing an era of higher borrowing costs as some of the lowest global interest rates in modern history begin to rise. Yet the message from most economists is a reassuring one: Rates won’t ...

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Companies reject ‘Shark Tank’ deals, still thrive

Daniel Rensing, left, and his wife Stephanie, owners of The Smart Baker, work in their warehouse in Rockledge, Fla. Annual revenue for their company is close to $1 million, up from $130,000 before their March 2012 appearance on the reality TV show "Shark Tank." AP Images

NEW YORK — With the cameras rolling, Daniel and Stephanie Rensing accepted an offer from a “Shark Tank” investor. But after they had time to think about it, they changed their minds. Annual revenue for their company, The Smart Baker, ...

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Prudenti testifies on judiciary budget request

Chief Administrative Judge A. Gail Prudenti testifies Thursday before a joint legislative budget hearing of the state Senate and Assembly in Albany on the judicial budget for 2015-16. Credit: NYS Senate photography

The state judiciary is hoping the Legislature will approve its proposed 2015-16 spending plan which is already $9 million less than its original budget request of $1.86 billion and meets the governor’s 2 percent cap on increases. Chief Administrative Judge ...

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