MoneyWatch

A growing number of Americans are paying four figures each month on their car notes as auto loan rates have catapulted in recent months. Nearly 15% of drivers who financed a new vehicle toward the end of 2022 are shelling out more than $1,000 a month, the highest percentage ever …

Shares of Kala Pharmaceuticals surged Wednesday after the small biotechnology company announced a drug candidate for a rare eye disease. The Food and Drug Administration has accepted Kala’s investigational drug application for KPI-012, a potential treatment for persistent corneal epithelial defect, or PCED, the Arlington, Massachusetts-based company announced on Tuesday.  …

Federal regulators ordered Wells Fargo to pay $3.7 billion in fines and refunds to customers, marking the largest fine to date against the nation’s third largest bank. The fines come after the Consumer Financial Protection Bureau (CFPB) alleged Wells Fargo has illegally assessed fees and interest charges on auto loans …

Identical twin sisters accused of cheating on their year-end medical school exams have won a defamation case against the Medical University of South Carolina. The twins, Kayla and Kellie Bingham, were accused of “academic dishonesty” in May 2016 after test proctors reviewed the results of an exam on which their …

Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve’s difficult fight against inflation. The S&P 500 fell 73 points, or 1.8%, to 3,999 — its third straight drop. The slide more than offset the index’s gains last week. …

Environmental groups are once again at odds with politicians and fishermen in New England in the wake of a decision by high-end retail giant Whole Foods, to stop selling Maine lobster. Whole Foods recently said that it will stop selling lobster from the Gulf of Maine at hundreds of its …

New Twitter owner Elon Musk is further reducing the number of workers who battle misinformation on the social media platform, with moderators who work on contract for the company learning over the weekend that they were out of a job. Twitter and other big social media firms have relied heavily …

With champagne flowing and joyous cheers, a group of exotic dancers from North Hollywood celebrated being one step closer to unionizing despite a delay in getting their votes tallied, CBS Los Angeles reports. “We’re just gonna celebrate because we know it’s a win,” said a dancer named Regan. The group’s …

Foster Farms is recalling roughly 148,000 pounds of fully cooked frozen chicken breast patties sold at Costco because they may contain pieces of hard and potentially sharp plastic, according to the U.S. Department of Agriculture. Eighty-ounce bags of breaded chicken breast patties with rib meat are being recalled because they …

Stocks rose on Wall Street, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns. Major indexes also notched significant gains to open the week on the strength of better-than-expected corporate earnings. The S&P 500 rose 42 points, or 1.1%, …