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US Labor Market Tightens Amid Still Rising Inflation
The number of job openings in the U.S. may have slipped slightly at the top of the year, but that does not necessarily mean the labor market has stabilized. Recently, the U.S. Department of Labor said job openings [in January] registered... More of this article »
Record-Setting Debt Suggests Americans Are Struggling Financially
Folks in the U.S. have had more and more trouble making ends meet. At least, that’s what the latest credit card data seems to suggest, as Americans tallied a dramatic credit card debt increase last year. While it may not surprise... More of this article »
Retailers Scramble for Strategies as Organized Retail Theft Persists
According to a 2022 study from the National Retail Federation (NRF), retail theft resulted in roughly $94.5 billion, across the industry, in 2021. That is markedly higher than the $90.8 billion posted the year prior. In the study,... More of this article »
General Motors to Cut 500 Salaried Positions
General Motors cut around 500 salaried jobs in the first week of March to reduce costs. Apparently, this one act could potentially save the car company $2 billion by 2026. Fortunately, the 500 cuts represent only about 1% of GM’s... More of this article »
US Household Debt Hits 15-Year Record at $16.9 Trillion
Household debt in the United States has shot up to the highest measure since 2008, mostly on the heels of mortgage rates soaring amid rocketing inflation. This is the latest analysis, as published in a new report from WalletHub.... More of this article »
US Economy Takes Smaller Steps in Q4 Than Originally Reported
In the last three months of 2022, the United States economy grew by an annual rate of only 2.7%, according to a new report. While this is not a bad measure, it fell short of the US Department of Commerce’s initial 2.9% growth... More of this article »
Gold Slips As Analysts Anticipate Unfavorable Inflation Data
Gold prices slipped lower this week as the dollar stiffened, even as traders prepared for crucial US inflation data. Holding off on any major currency bets, traders are bracing for potentially distressing news that could greatly... More of this article »
US Trade Deficit Approaching $1 Trillion
The US trade deficit ballooned by 12.2 percent in 2022 as Americans continued to buy record volumes of foreign goods. According to data from the United States Department of Census Bureau and the US Bureau of Economic Analysis, the... More of this article »
Mortgage Rates Finally Tick Up Again in February
The final month of 2022 offered a promising turnaround as mortgage rates started to fall in November. That peak marked the end of the weakest year for overall home sales since 2014, totaling only 5.03 million. This marks a decline... More of this article »
Homebuyer Sentiment on the Rise as Mortgage Rates Tick Down
After a mostly persistent climb throughout 2022, mortgage rates have finally eased, though only slightly. While similar signs show that inflation may also loosen its grip on the economy, it is unclear whether the two are related... More of this article »
Biden Administration Proposes Junk Free Protection Act to Prohibit Hidden Fees
Working with the Consumer Financial Protection Bureau (CFPB), the Biden Administration introduced the Junk Free Protection Act. The proposal calls for Congress to limit the fees that can be charged for tickets to live events. Their... More of this article »
FDA Wants More Oversight for CBD Products
The United States Food and Drug Administration has announced that CBD products will soon need to follow a new regulatory pathway to the market. The federal agency also said they plan to cooperate with Congress to develop an appropriate... More of this article »
FDA Approves First-Ever Oral Anemia Drug, From GSK
The United States Food and Drug Administration issued a landmark approval for a new anemia drug this week. Made by GlaxoSmithKline LLC (GSK), the new, first-of-its-kind oral treatment aims to specifically treat the kind of anemia... More of this article »
Mortgage Rates Fall, Slightly Boosting Demand
The first month of 2023 is nearing its final week and with it departs persistently high mortgage rates that have plagued potential home buyers the last few years. Yes, over the last couple of days, mortgage rates have let up a bit... More of this article »
Netflix Has Posted a Job Listing…For A Flight Attendant?
It seems, lately, whenever Netflix makes headlines, it is due to either the release of a new show or the cancellation of one everyone loves. Indeed, it is rare that a Netflix conversation involves anything other than their content... More of this article »
A Sign of Hope on the Horizon as Inflation Falls for the First Time in Two Years
It may not yet be apparent to everyone, but consumer prices in the US have started to fall for the first time in nearly three years. Most notably, gasoline prices started to fall in December, and the hope is that this will begin... More of this article »
Yes, Egg Prices Are Still Up, but its Not Because of Inflation
Eggs are one of the most ubiquitous foods in the world. A breakfast staple in many cultures and an important ingredient in many cuisines, eggs are nutritious, flavorful, and versatile. Unfortunately, they are also becoming one of... More of this article »
Student Loan Relief Plan Faces Uphill Battle Versus District Court Opposition
When the Biden Administration announced its student loan forgiveness plan, borrowers burdened by this debt rejoiced. Were it enacted, the proposal would bring financial relief to at least 40 million student loan borrowers, especially... More of this article »
New FTC Proposal Could End Noncompete Agreements
As the first week of 2023 came to a close, the Federal Trade Commission (FTC) proposed a paradigm-shifting rule that could change employment in the United States. The government regulator proposed a new rule prohibiting employers... More of this article »
Hertz To Pay $168M Settlement over False Car Theft Arrests
Heading into the first week of December, rental car company Hertz announced they would pay approximately $170 million to settle several hundred false theft claims involving their customers. In the news release, the rental giant specified... More of this article »
Inflation is Easing, Tempering Costs Across the Economy
Inflation slowed more dramatically than expected last month, finally easing what had been a heated 18 months of quickly rising prices. This is a promising sign that the Federal Reserve may not need to initiate another rate hike.... More of this article »
Mortgage Applications Climb as Rates Dip
Once again, the average interest rate on a 30-year fixed mortgage has fallen. Down to 6.28%, it is now its lowest level since September. The drop follows an underwhelming consumer price index report for November, which is a significant... More of this article »
In Cost-Saving Strategy, PepsiCo To Cut Several Hundred Corporate Jobs
In spite of rising prices, food and beverage demand in the United States remains strong. While households are feeling more and more pinched in the face of heightened inflation, major food companies like PepsiCo have felt compelled... More of this article »
Private Payroll Additions Slows in November
According to the most recent ADP National Employment Report, private hiring in the United States slowed in November, adding only 127,000 jobs. That is roughly 73,000 short of the numbers economist had expected earlier. News from... More of this article »
US Mortgage Rates Fall, Again, As Demand Continues to Decline
Mortgage rates in the United States may have been soaring above 7 percent about a month ago, but that is not the case right now says the Mortgage Bankers Association. According to their seasonally adjusted index, mortgage rates are... More of this article »
Holiday Travel Costs Have Never Been More Expensive
The Thanksgiving holiday will be here in a matter of days, and with it will come a modicum of, albeit expected, stress. This year the chaos will likely be exacerbated by significantly higher travel prices that will certainly complicate... More of this article »
Early Holiday Promotions Entice Frugal Shoppers, Bumping Retail Spending up 1.3 Percent
It looks like the holiday shopping season is already off to an excellent start. According to a Wednesday update from the US Census Bureau, retail sales in the United States rose by 1.3% in October. Apparently, American shoppers are... More of this article »
Amazon Offers “Voluntary Severance” Program to Motivate Labor Cuts
On Wednesday, e-commerce giant Amazon confirmed they have begun a round of layoffs after several outlets let slip the online retailer’s plans to shave its workforce down by as much as 10,000 in personnel this week. It will... More of this article »
High Interest Rates Mean Car Prices Aren’t Cooling Off Anytime Soon
If you are in the market for a new car, you may be in for a whole lot of sticker shock. Inventory is high, and when there are lots of cars to choose from that typically means prices are competitive. And since many people probably... More of this article »
Walgreens and CVS Agree to Pay a Combined $10B Settlement in Opioid Case
Walgreens and CVS have agreed, tentatively, to pay $10 billion in order to settle lawsuits brought upon them by both state and local governments. The lawsuits allege the retailers improperly handled opioid painkiller prescriptions.... More of this article »
Here’s What We Will See with Fed Benchmark Raised Again
Over two days, this week, the Federal Reserve will conduct its Federal Open Market Committee meetings. And during this session, many expect the central US bank to raise its benchmark interest rate, for the fourth meeting in a row.... More of this article »
Pine-Sol and Clorox Issue Recall Over Bacterial Contamination in Eight Product Lines
This week, the US Consumer Product Safety Commission announced a recall on eight Pine-Sol disinfectant cleaning products over concerns that they may be contaminated with infection-causing bacteria. The recall applies to approximately... More of this article »
Mortgage Rates Pass 7% to Their Highest Level Since 2001
Mortgage rates in the United States rose nearly 20 points, to 7.16%, the final week of October. This is the highest level for a typical 30-year mortgage interest rate since 2001. The Mortgage Bankers Association also said the average... More of this article »
Delivery Gig Provider ‘Shipt; Sued in Minnesota over Worker Classification
This week, Minnesota Attorney General Keith Ellison filed a lawsuit against grocery delivery company Shipt over allegations they improperly classify their delivery workers. Acquired by Target in 2017—for $550 million—Shipt offers... More of this article »
Trump’s Company Grossly Overcharged Secret Service While Staying at Trump Properties During His Term, Report Says
Documents released this week by the House Oversight Committee offer details about how the Trump Organization charged extremely high rates to the Secret Service for stays at Trump properties. Just for doing their jobs—protection... More of this article »
Mortgage Applications Drops to 25-Year Low
Mortgage demand has struggled for the better part of the last four months, ultimately falling to its lowest level since 1997 just a few days ago. Of course, this decline is caused by three major issues: rising interest rates, higher... More of this article »
Hertz and BP Announce EV Partnership
As gas prices continue to rise—or, at the very least, remain at historically high levels—both car and fuel companies have to look for more ways to attract customers. One way to do that, of course, would be to focus on alternative... More of this article »
Personal Consumption Expenditure Metric Suggests Inflation iin August was Higher Than Expected
While it may not be all that surprising to most, August registered stronger inflation levels than analysts had originally expected. This is in spite of accelerated efforts from the Federal Reserve bank to temper prices to help consumers.... More of this article »
Nearly Three-in-Four Workers Are Looking for Additional Work To Keep Up With Inflation
New labor data indicates an alarmingly high number of people are looking for extra work to keep pace with inflation. In a survey from workforce-as-a-service platform Bluecrew, approximately 70 percent of Americans are looking for... More of this article »
General Electric to Lay Off One-Fifth of US Onshore Wind Workforce
Energy provider General Electric recently announced a plan to lay off roughly one-fifth of the workforce within its US onshore wind division. Approximately 20 percent of this roster equates to several hundred jobs. A spokesperson... More of this article »
Can Another Round of Layoffs Turn Things Around At Peloton?
In August, Peloton released an abysmal financial report for the quarter, indicating a loss in excess of $1.2 billion on 30 percent lower year-over-year revenue. At that time, Peloton CEO Barry McCarthy announced they would be laying... More of this article »
Biogen Settles Whistleblower Bribe Case for $900 Million
This week, the United States Justice Department released a statement describing how a whistleblower accused US pharmaceutical company Biogen of bribing doctors to prescribe their drug to multiple sclerosis patients. Furthermore,... More of this article »
NTSB Recommends Alcohol-Monitoring Technology in New Cars
The US National Transportation Safety Board (NTSB) has enlisted its sister agency to curb drunk driving incidents by implementing new regulations regarding blood alcohol monitoring systems in vehicles. Apparently, the NTSB has recommended... More of this article »
Biden Administration Reveals New Rules Requiring Airlines to Disclose Fee Schedules
President Joe Biden announced new air travel regulations, this week, which requires both airlines and online travel agencies to disclose their fees for various ticketing add-ons like seat selection and checked baggage. The new policy... More of this article »
Federal Reserve Commits to Fifth Interest Rate Hike This Year
On Wednesday, this week, the Federal Reserve announced they will raise interest rates again, marking the fifth such hike so far this year. Concluding a two-day monetary policymaking session, the central bank updated its Summary of... More of this article »
The Fed’s Latest Rate Hike Pushes Treasury Yields Higher
US Treasury yields climbed at the end of the week as markets analyzed the eventual impact of the Federal Reserve’s most recent rate hike. Specifically, the 2-Year Treasury note reached up to its highest mark in 15 years, as... More of this article »
Homebuilder Sentiment Falls into Negative Territory
According to the National Association of Home Builders (NAHB), homebuilder sentiment fell by three points this month. Now at a score of 46, the index has fallen below the 50-point threshold, indicating that the sentiment is negative.... More of this article »
Amtrak To Suspend Some Long Haul Routes Anticipating Freight Rail Labor Strike
Heading into the second full week of September, rail carrier Amtrak announced a plan to preemptively suspend service(s) along some of its longer-range routes, mostly originating in Chicago. Apparently, there is a pending freight... More of this article »
Expect Holiday Airfare to Hit 5-Year High As Air Travel Chaos Persists
If you are planning to fly anywhere this holiday season, you may have to pay through the teeth for that plane ticket. Unfortunately, it appears the cost of a boarding pass this winter will reach a five-year high. Experts advise that... More of this article »
Juul Ordered to Pay $438.5 Million Settlement Over Underage Marketing Charges
Electronic cigarette maker Juul has just inked a settlement deal to conclude a two-year investigation regarding its sales and marketing practices. According to announcements coming out of several US states, in the first week of September,... More of this article »
Global Economic Troubles Continue to Drag Oil Prices
Oil prices took a dive this week, increasing the selloff acting that has already started to offer some relief for drivers trying to make the most of the rest of the summer, but feeling the pinch at the pump. Indeed, US oil slipped... More of this article »
FTC Orders Credit Karma to $3 Million in Consumer Damages Over False “Pre-Approval” Claims
The Federal Trade Commission (FTC) has ordered Credit Karma to pay $3 million to users on allegations that the online credit monitoring company pushed consumers to take out falsely pre-approved credit cards. This inevitably led to... More of this article »
CVS Health and Signify Health Hopes To Bring Health Care to the Home
In the first week of September, CVS health announced a new $8 billion deal aimed at meeting patients where they are to address their health care issues as needed. The deal will finalize the CVS purchase of Signify Health, which is... More of this article »
Inflation Concerns Continue as There are Twice as Many Job Openings as Available Workers
Despite a big push from the US government to combat inflation, the labor market remains tight. According to a report, this week, from the Bureau of Labor Statistics, there were almost one million more job openings last month than... More of this article »
Regal Cinemas Parent Company—Cineworld Group—Files Chapter 11
Cineworld Group is the second largest movie theatre chain in the world, although many people may not know who they are. Perhaps identifying the British company—who operates in nearly a dozen countries—as the owner of Regal Cinemas... More of this article »
Federal Trade Commission Sues Data Broker Over Sale of Sensitive Geolocation Data
The issue came to light after a June Supreme Court ruling overturned Roe vs Wade: the landmark decision that guaranteed women a Constitutional Right to abortion. With reproductive rights now a States’ issue, the technology... More of this article »
Honda Partners with LG to Upscale EV Battery Production at New US Plant
With the new California ban on gas-powered engine vehicles (by 2035)—and some states likely to follow suit—the pressure to scale up production and make these cars more accessible is certainly growing. Whether this shift—in... More of this article »
Bed Bath & Beyond Announces Layoffs and Closures Amid Struggles
Approaching the end of August, home furnishings retailer Bed Bath & Beyond revealed a plan to close stores and layoff staff in a somewhat emergency cost-cutting effort. On a recent call with investors, the struggling New Jersey-based... More of this article »
Fed Awaits August Jobs Report to Decide Upcoming Interest Rates
As we begin the month of September, many are heavily anticipating the upcoming jobs report. Analysts advise job growth has probably slowed a bit from the somewhat frenzied rate in July, but the numbers should still be promising.... More of this article »
Moderna Sues Rival Pfizer Over Coronavirs mRNA Vaccine Patent
In the final week of August, pharmaceutical firm Modern sued Pfizer (and its German counterpart BioNTech) claiming the rival(s) improperly used Moderna’s foundational technology to develop their own coronavirus vaccine. The... More of this article »
California Will Ban New Gas-Powered Car Sales by 2035
California is not just the most populated state in the US but, fittingly, also a state with, perhaps, the biggest car-centered focus in the country. Unfortunately, this also means that their fossil fuel use is a major contributor... More of this article »
Peleton Inks Partnership with Amazon
Peleton and Amazon have announced a new sales partnership this week. This is, of course, of greater benefit to Peloton, who is looking to broaden their customer base and win over its investors from slower pandemic revenue growth... More of this article »
Mortgage Rates in Decline, but Still Up From Last Year
Home mortgage rates slipped lower again last week, nearing 5 percent, after some economic reports released this week hinted that inflation may have reached its peak. Specifically, the 30-year fixed-rate mortgage fell to, on average,... More of this article »
Ford To Cut 3,000 White-Collar Jobs to Reduce Costs
Ford Motor Co announced, this week, a plan to cut roughly 3,000 white-collar jobs to reduce their costs in order to support their long-term goal of transitioning from traditional, internal combustion vehicles to electrical vehicles.... More of this article »
PepsiCo Raises Revenue Guidance on Price Hike Strategy
Early this week, PepsiCo Inc raised its full-year guidance for revenue, commenting that they may continue to raise prices over the next few months. Apparently, the beverage giant believes the existing price increases have not had... More of this article »
Will Chrome OS 105 Carry a Feature to Improve Chromebook Battery Life?
Tech giant Google is currently in the process of testing a new feature for Chromebooks that have the potential to substantially improve laptop battery life. The upcoming developer release of Chrome OS 105, apparently, has a test... More of this article »
White House Attempts To Temper Harsh Inflation Report
White House officials went on the defensive this week in anticipation of another unappetizing report after continued months of soaring inflation. Just one day before the White House was to release June’s consumer price index... More of this article »
Gold Stumbles Under the Pressure of a Strong Dollar and Brooding Rate Hikes
As a commodity, gold fell to a nine-month low, earlier this week. This adds to existing pressure from the presently-strong dollar, as well as a pending rate hike. Investors now await for the latest economic data to see how it might... More of this article »
US Mortgage Rates Slip As Housing Industry Complications Grow
This past week, mortgage rates in the United States fell at their fastest pace in more than 10 years, mostly on economic uncertainty in the bond market at a time when home prices have soared to historic heights. Specifically, the average... More of this article »
GameStop Replaces CFO In Aggressive Turnaround Plan
Video game retail chain GameStop Corp has let go its Chief Financial Officer, Mike Recupero, and will be making more job cuts in the near future as they try to turn their business around. Actually, the Grapevine, TX-based company said... More of this article »
FDA Announces Plan to Diversify Baby Formula Industry to Increase Availability
In the middle of the first week of July, the United States Food and Drug Administration announced a new plan intended to begin to address the baby formula shortage in the United States. Of course, this shortage came out of the shutdown... More of this article »
Twitter Begins Testing of Collaborative Author “CoTweets”
During the first week of July, Twitter started testing a brand new feature that would allow two separate accounts to author the same tweet within the social network. This new “CoTweets” feature allows not only two accounts to co-author... More of this article »
Oil Takes a Dive As IMF Cuts Global Growth Forecast
Oil prices dipped roughly 5 percent on Tuesday’s volatile trading activity after the International Monetary Fund slashed its economic growth forecast and expressed concern over continued high inflation. As such, the global benchmark... More of this article »
Lululemon Expects Doubling Sales—to $12.5B—in the Next Five Years
While tech stocks have taken a hit—mostly reeling from Netflix’s first subscriber loss in more than 10 years—apparel companies may have a better outlook. For one, athletic wear company Lululemon is looking to double its 2021... More of this article »
Dow UP 250 Points, but Nasdaq Takes a Big Hit On Big Loss from Netflix
The market floor was divided on Wednesday as Wall Street traders tried to strategize a rush of first-quarter earnings activity. With that, the Dow Jones Industrial Average bounced back on strong earnings from Procter & Gamble. ... More of this article »
IMF Advises Governments Should Protect the Vulnerable When Handling Covid Debt
Sentiments at the International Monetary Fund have long been pessimistic. In just the last year alone, the global body responsible for keeping the world economy stable has kept a gloomy outlook. Of course, the data certainly supports... More of this article »
Gold Prices Rise Along With Inflation
Gold futures eked their way up across international markets, this week, to peak at heights not seen since about a month ago. Specifically, spot gold saw a bump of 0.5%, to $1,984.58 per ounce. This helped to shore up US gold futures,... More of this article »
Stock Market Sluggish As 10-Year Treasury Bond Yields Reach Five-Year High
As the 10-year US treasury bond yield climbs to its highest mark in five years, the US stock market took a dip, this week. Investors now wait for the latest quarterly earnings report to begin forming strategies for the months to come. Indeed,... More of this article »
10-Year US Treasury Bond Yield Hits Three-Year High
In the face of rising inflation, the US Treasury 10-year benchmark yield hit its highest level in at least the past three years, on Monday. Indeed, the biggest 10-year US Treasury note jump registered 4 basis points, to 2.851%, in... More of this article »
Twitter Adopts “Poison Pill” Plan to Block or Delay Elon Musk’s Plan to Buy the Company
Twitter adopted a limited duration shareholder rights plan, often called a “poison pill,” essentially that would block or delay billionaire Elon Musk’s bid to buy the company for $43 billion. The board voted unanimously... More of this article »
Consumer Sentiment Rises To Three-Month High, Surprising Analysts
After two years of growing uncertainty, consumer sentiment in the United States hit a surprising three-month high in early April. With job growth numbers and wages both looking optimistic in the months to come, analysts say they... More of this article »
US Stock Indexes Sink on Tough Earnings and Inflation Data
The U.S. stock market took a dip on Thursday to close out another week of losses as investors digest a storm of bank earnings under increased CPI pressure. Both the tech-heavy Nasdaq Composite and Standard & Poors 500 indices fell... More of this article »