After a prolonged period of high inflation and higher interest rates, Americans are just getting by. As of August, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report, unchanged from last year. Recent data is painting a mixed picture of where the economy stands. Inflation has shown some signs of cooling but the
Month: September 2023
Skyscrapers in the Canary Wharf financial, business and shopping district in London, UK. Bloomberg | Bloomberg | Getty Images LONDON — London’s office market is in a “rental recession,” according to financial services company Jeffries, who reported that vacancies in the capital’s business hub had hit a 30-year high. Jeffries analysts estimated there had been
In this article STLA STLAM-IT GM F Follow your favorite stocksCREATE FREE ACCOUNT Members of the United Auto Workers union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Michigan, on Sept. 20, 2023. Bill Pugliano | Getty Images As the United Auto Workers’ strike against Ford Motor, General Motors and Stellantis
Minneapolis Federal Reserve President Neel Kashkari said Wednesday he’s unsure whether the central bank has raised interest rates enough to tame inflation. Speaking one day after he penned an essay suggesting that rates may have to go “meaningfully higher” from here in order to bring down prices, Kashkari told CNBC that the neutral rate of
When Jacynthe Riviere graduated from college with an accounting degree, “there were plenty of jobs,” she said — and “the big firms paid well.” The year was 1984. Riviere, now 61 and living in Puerto Rico, made roughly $18,000 in her first position as a staff auditor — the equivalent of more than $53,000 today
A worker makes clothes at a garment factory that supplies Shein, in Guangzhou, China. Shein is set to produce goods in Brazil for the Latin American market, instead of shipping them from China. Jade Gao | AFP | Getty Images Fast-fashion retailers like Zara, Shein and H&M are using resale platforms to reduce their carbon
In this article COST Follow your favorite stocksCREATE FREE ACCOUNT Exterior view of a Costco store on August 18, 2020 in Teterboro, New Jersey. Kena Betancur | Corbis News | Getty Images Costco on Tuesday reported quarterly earnings that topped Wall Street’s expectations, as shoppers turned to the membership club for groceries but bought fewer
Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. Mike Segar | Reuters Minneapolis Federal Reserve President Neel Kashkari thinks there’s nearly a 50-50 chance that interest rates will need to move significantly higher to bring down
A general view of the U.S. Capitol, where Congress will return Tuesday to deal with a series of spending bills before funding runs out and triggers a partial U.S. government shutdown, in Washington, D.C. Sept. 25, 2023. Jonathan Ernst | Reuters Washington lawmakers are scrambling to pass a spending bill before an Oct. 1 deadline.
Former US President and 2024 Presidential hopeful Donald Trump speaks at a Team Trump Iowa Commit to Caucus event at Jackson County Fairgrounds in Maquoketa, Iowa, on September 20, 2023. Scott Olson | Getty Images A judge on Tuesday ruled that former President Donald Trump and his company are liable for fraud by misstating the
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT A Target department store in North Miami Beach, Florida, on May 17, 2023. Joe Raedle | Getty Images Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. The company will close one
In this article 9984.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Herman Narula, co-founder and CEO at Improbable, speaks during a session at the Web Summit in Lisbon. Henrique Casinhas | Sopa Images | Lightrocket | Getty Images Virtual reality startup Improbable said Wednesday that it reduced losses by 85% in 2022, a year that saw
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