Starbucks CEO tells employees to be more effective after fresh round of layoffs
Starbucks' top boss made it clear to employees during an internal forum that they need to improve their efficiency in making decisions amid turnaround efforts.
How scammers are cashing in on tax season
With the use of artificial intelligence proliferating, cybercriminals are becoming more sophisticated and convincing when they target victims during tax season.
Private sector adds just 77K jobs in February, well below expectations, ADP says
The figure reported on Wednesday is well below economists’ estimates of 140,000 jobs and also more than the prior month’s upwardly revised reading of 186,000.
Trump's speech pumps inflation fight from eggs to energy
President Trump asserted during his address to Congress on Tuesday that he will be fighting the "inflation nightmare" affecting American families. Specifically targeting eggs and energy.
Target, Best Buy CEOs warn of price increases as tariffs take effect
The heads of major retail companies are warning that their profits could be impacted by tariffs and that prices could rise, some as soon as this week.
Chipotle CEO details how chain will handle Trump tariff costs
Chipotle's top boss said that if tariffs go into effect, the company will absorb them. However, that could change if they become a "significant headwind."
Inflation gauge favored by Fed showed prices grew as expected in January
The latest reading of the Federal Reserve's preferred inflation gauge showed that prices rose in line with economists' expectations in January as the inflation fight continues.
US pending home sales fall to record low in January
The National Association of Realtors' pending home sales data fell 4.6% in January to an all-time low as prospective homebuyers encountered high mortgage rates and home prices.
Mortgage rates fall to lowest level in over 2 months
Mortgage rates fell for a sixth week in a row to the lowest level in more than two months, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage is 6.76%.
Eli Lilly investing $27B more in US manufacturing
Eli Lilly is doubling its U.S. manufacturing investment since 2020 as it seeks to produce more drugs domestically. Its latest investment is to the tune of $27 billion.
US economy grew 2.3% in fourth quarter
The Commerce Department's second estimate of fourth quarter GDP showed the economy grew 2.3% at the end of last year, in line with expectations and the prior estimate.
Forever 21 likely to shutter remaining stores with second bankruptcy nearing
Forever 21 is expected to file for Chapter 11 bankruptcy for a second time as it faces relentless competition and a massive store footprint that has proven to be unsuccessful.
Egg prices predicted to jump over 40% in 2025: USDA
Economists predict that egg prices will surge more than 40% in 2025 as outbreaks of the highly pathogenic avian influenza continue to hinder the U.S. egg supply.
Consumer confidence slumps in February with biggest monthly drop in nearly 4 years
The Conference Board's consumer confidence report found that confidence slumped in February with the biggest monthly drop in nearly four years amid inflation and tariff concerns.
America's wealthiest households driving nearly half of consumer spending: Moody's
The top 10% of American households in terms of income earned are driving nearly half of all U.S. consumer spending, according to a new analysis by Moody's Analytics.
Crafts retailer Joann closing down all U.S. stores, one month after filing Chapter 11 bankruptcy
All Joann Fabrics and Crafts locations across the U.S. will close down over the next several weeks, according to Joann Inc., just one month after filing Chapter 11 bankruptcy.
Costco, Walmart are appealing to wealthy shoppers
Walmart and Costco have touted that they are appealing to a more affluent shopper. Walmart has steadily been growing its appeal to higher earners for years.
US consumer sentiment plunges on worries over prices from inflation and tariffs
Consumer sentiment plunged more than expected in February while households' inflation expectations amid uncertainty over the impact of President Trump's economic plans.
Fed officials flag rising inflation risks amid uncertainty over Trump policies, tariffs
Federal Reserve officials cautioned that uncertainty over the impact of President Trump's tariffs and immigration policies could impact the outlook for curbing inflation.
Mortgage rates fall for fifth week in a row, hover near 7%
Mortgage rates fell for a fifth week in a row but remain elevated near 7%, Freddie Mac said on Thursday. The average rate on a 30-year fixed mortgage is 6.85%.