Holiday Shoppers Expected to Boost Spending
Holiday shoppers are expected to increase their spending this year, but their focus on value and deals is likely to limit growth to pre-pandemic levels, says the National Retail Federation (NRF).
WeWork Shares Plummet as Bankruptcy Reports Loom
WeWork's stock price dropped nearly 50% to a record low amid reports that the company is considering filing for bankruptcy next week.
There Are Critical Considerations for 2023’s ACA Open Enrollment
Millions of Americans purchasing health insurance through the Affordable Care Act (ACA) marketplace face the annual task of comparing benefits and prices, considering changes to their plans, or enrolling for the first time.
McDonald's Sees Shift in Customer Demographics Amid Inflation and Price Hikes
McDonald's has revealed that it is gaining middle- and higher-income customers who are trading down to its menu while simultaneously losing lower-income diners due to high inflation.
U.A.W. President Urges Labor Unions to Unite in Contract Negotiations for Collective Strength
The United Automobile Workers (U.A.W.) president, Shawn Fain, has proposed that other labor unions align their contract expirations with the U.A.W., emphasizing solidarity in collective bargaining efforts.
Food Insecurity Soars in the U.S. in 2022, Hitting Crisis Levels Amid Economic Challenges
Food insecurity in the United States surged in 2022, reaching levels not seen since the aftermath of the financial crisis, according to government data from the U.S. Department of Agriculture.
Strong Q3 Economic Growth in the U.S. Driven by Consumer Spending Surpasses Expectations
The U.S. economy saw stronger-than-expected growth in the third quarter, expanding at a 4.9% annualized rate, driven primarily by robust consumer spending.
Amazon Allows Supervisors to Terminate Employees Resisting Return-to-Office Policy
Amazon has introduced new guidelines allowing supervisors to terminate employees who resist the return-to-office directive.
California Sees Ongoing Exodus as Housing Costs Drive Migration to Other States
In 2022, California continued to experience an exodus as more than 817,000 people left the state for other parts of the U.S., while about 475,000 individuals moved to California, resulting in a net loss of approximately 342,000 residents.
Shein Faces Hurdles as It Eyes IPO Amid Forced Labor Allegations and Other Concerns
Shein, the fast-fashion retailer with a reported valuation of $66 billion, is looking to go public but faces several hurdles.
Costco CEO Craig Jelinek to Retire, Ron Vachris to Take Helm
Longtime Costco CEO Craig Jelinek will retire at the end of the year, and he will be succeeded by Ron Vachris, who has been with the company for 40 years.
IRS to Introduce Electronic Free File Tax System, Facing Industry Opposition
The IRS is set to launch a pilot electronic free file tax return system in January, inviting taxpayers from 13 states to participate.
October Consumer Sentiment Declines Amid Rising Inflation and Student Loan Resumption
Americans' consumer sentiment took a hit in October, with the University of Michigan's consumer sentiment index falling by 7% compared to the previous month.
JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation
JP Morgan's CEO, Jamie Dimon, has expressed concerns about the escalating conflict in the Middle East, particularly Israel's expected ground offensive on Gaza.
Former Walmart U.S. CEO Observes a Slowdown in Consumer Spending Amid Scarce Bargain Prices
Former Walmart U.S. CEO Bill Simon has highlighted that ongoing inflation and various economic pressures are impacting retailers' ability to offer bargains, leading American consumers to be more cautious with their spending.
Auto Workers' Strike in the US: Beyond Wages - The Battle Over EVs and Ideological Conflict
The ongoing auto workers' strike in the United States goes beyond wage disputes and is rooted in concerns related to the 2009 Obama-era deal that removed cost-of-living adjustments, as well as resistance to President Biden's ambitious plans for Chinese battery-powered vehicles.
House Republicans Demand Answers on Delayed Small Business Tax Credit Claims Processing
House Republicans are pressing the IRS for answers regarding the delay in processing new claims for the pandemic-era small business tax credit known as the employee retention credit (ERC).
Private Sector Job Growth slowed sharply in September, Marking the Slowest Pace Since 2021
In September, U.S. companies added only 89,000 jobs, well below the expected 153,000 and a significant drop from August's revised 180,000.
Small Businesses Express Concerns to Fed's Powell About Inflation and Interest Rates
Federal Reserve Chair Jerome Powell and Patrick Harker, head of the Federal Reserve Bank of Philadelphia, visited York, Pennsylvania, to hear the concerns of small-business owners grappling with inflation, high interest rates, labor shortages, and post-pandemic economic challenges.
Record $1 Billion Loan Considered by U.S. for Nevada's Massive Lithium Mine
The U.S. Energy Department is currently engaged in discussions to potentially provide a record-breaking $1 billion loan to the developer of one of the largest lithium deposits in the United States.