In Brief Powell hints at a pause in rate hikes when central bank meets next month

WASHINGTON - Chair Jerome Powell indicated that the Federal Reserve will likely forgo an increase in its benchmark interest rate when it meets in June for the first time since it began raising its key rate 14 months ago to fight high inflation. In signaling so, Powell provided some clarity about the Fed's likely next policy move after a cacophony of speeches this week by central bank officials had clouded the picture.

"Having come this far, we can afford to look at the data and the evolving outlook and make careful assessments," Powell said, referring to the Fed's 10 straight rate hikes.

- Associated Press

Detroit enclave built on auto industry struggles under $20M water debt

HIGHLAND PARK, Mich. - A small enclave of Detroit is considering municipal bankruptcy to help rid itself of a decades-old water debt that has grown to about $20 million and threatens to swamp the already financially struggling city. Highland Park and the Great Lakes Water Authority are in court-ordered mediation over how the debt will be paid. It's a hit in the decline of Highland Park, which was built a century ago on the strength of the area's auto industry and had more than 50,000 residents in 1930.

Now, fewer than 9,000 people live in the city, which only expects about $12 million in revenue for the coming fiscal year.

- Associated Press

Debt limit talks in standstill as GOP, White House face 'real differences'

WASHINGTON - Debt limit talks came to an abrupt standstill after Republican House Speaker Kevin Mc-Carthy said it's time to "pause" negotiations. A White House official acknowledged there are "real differences" that are making talks difficult.

Wall Street markets were down Friday amid the developments. It's not clear when the talks will resume. Biden's administration is racing to strike a deal with Republicans as the nation careens toward a potentially catastrophic debt default if the nation fails to pay its bills. McCarthy says it's an "easy" problem to resolve by cutting government spending.

- Associated Press

Poll: Most favor pairing debt limit rise with deficit cuts, few are following debate closely

WASHINGTON - A new poll finds that most U.S. adults say they are highly concerned about how the nation's economy would be affected if the debt limit isn't increased and the government can't pay its debts. That's according to a survey from The Associated Press-NORC Center for Public Affairs Research. The poll shows 6 in 10 adults say they want any increase in the debt limit to be coupled with agreed-upon terms for reducing the federal budget deficit. At the same time, Americans are more likely to disapprove than approve of how President Joe Biden and congressional negotiators in both political parties are handling negotiations.

- Associated Press

Kia, Hyundai settle class-action lawsuit after a rash of thefts due to security flaw

WASHINGTON - Hyundai Motor America and Kia America say they have reached a settlement to resolve a class-action lawsuit prompted by a surge in vehicle thefts.

The companies say the settlement could be valued at $200 million and covers about 9 million 2011-2022 model year Hyundai and Kia vehicles in the U.S.

The cars are not equipped with pushbutton ignitions and immobilizing anti-theft devices. That has allowed thieves to easily steal them using just a screwdriver and a USB cord, creating a recent rash of auto thefts across the country.

The total settlement amount will depend on how many customers participate.

- Associated Press

Judge: American Airlines, JetBlue must abandon partnership in Northeast

American Airlines and JetBlue must give up their partnership in the northeast U.S. That's what a federal judge in Boston ruled on Friday.

The Justice Department and several states sued to break up the airline alliance. Judge Leo Sorokin accepted the government's argument that the deal reduces competition.

The ruling is good news for the Biden administration, which has used aggressive enforcement of antitrust laws to limit mergers and other arrangements between large corporations.

- Associated Press