Expect a drop: U.S. steelmakers are projecting lower quarterly profits as automotive companies and equipment manufacturers dial down production. Higher interest rates, rising operating costs, a strengthening U.S. dollar and lower selling prices for commodities are damping activity at factories across the country. Read the full story from The Wall Street Journal.
Education pay: Recent legislative efforts to address teacher pay and support in the classroom have brought temporary relief, but many argue that taxpayer funding falls short, leaving teachers struggling to manage their workloads and administrators their budgets. Read more from The Center Square.
New rules: The Federal Deposit Insurance Corp. on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. The rule, aimed at accounts opened by fintech firms that partner with banks, would make the institution maintain records of who owns it and the daily balances attributed to the owner, according to an FDIC memo. Read more from CNBC.
