Gasoline prices have climbed about 50% in a year, and this year’s rise is on pace to be the largest percentage increase in at least a decade.

President Biden’s decision to reappoint Jerome Powell as Federal Reserve chairman and elevate governor Lael Brainard signals continuity on monetary policy.

U.S. inflation hit a three-decade high of 6.2% in October.

General Electric plans to split into three public companies focused on aviation, healthcare and energy.

Alphabet Inc.’s Google has invested $1 billion in futures-exchange giant CME Group Inc. and struck a deal to move the company’s core trading systems to the cloud. Under the deal, the technology giant’s Google Cloud unit would eventually power markets that handle trillions of dollars in trades each day.

The Federal Reserve approved plans to begin scaling back its bond-buying stimulus program this month and end it by June, a major step toward withdrawing its aggressive, pandemic-driven economic support amid a recent inflation surge.

GDP grew at a historically fast annual rate of 6.7% in the second quarter as an infusion of government stimulus, widespread business reopenings and rising vaccination rates fueled spending. Those spending drivers faded in the third quarter as the U.S. economy grew by 2.0%.

Federal Reserve officials are set to wind down their $120 billion-a-month bond-purchase program in November.

Apollo Global Management Inc. said it expects its assets under management to double to about $1 trillion by 2026.

Credit-card spending at restaurants and retailers excluding gasoline stations rose 1.5% between August and September. In particular, spending at restaurants and bars rose 2.3%, the data showed, suggesting that customers didn’t let the Delta variant hold them back.