Simone Del Rosario
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Target sales bounce back with clothes, beauty and lower prices
Target surprised Wall Street on Wednesday, Aug. 21, with a strong second-quarter performance, beating both earnings and revenue expectations. Customer traffic increased across both in-store and online channels, driven by strategic price cuts and new loyalty initiatives. Despite these gains, the company remains cautious about the future, as economic uncertainties and evolving consumer habits present… -
Runway clears for Alaska, Hawaiian Airlines merger after DOJ review expires
A proposed merger between Alaska Airlines and Hawaiian Airlines has flown past a review by the U.S. Department of Justice. The decision clears the runway for the first major airline merger since 2016. The DOJ seemingly decided against challenging Alaska’s $1.9 billion bid to acquire Hawaiian Airlines after the review period expired the morning of… -
Disney ditches Disney+ ‘terms of use’ defense in wrongful death lawsuit
Walt Disney Co. agreed to let a court decide a wrongful death lawsuit at one of its theme parks. The reversal comes after it attempted to send the case to arbitration because the man who brought the case agreed to terms of use for Disney+ when he signed up for a trial years earlier. The… -
Just as inflation cools, bird flu is driving up the price of eggs
Consumer prices only rose 2.9% annually in July, giving Americans hope inflation has stabilized. But the cost of eggs is back on the rise, far more than the rest of the grocery bill. The price of a dozen eggs spiked 19.1% in July compared to the same month last year. Meanwhile, groceries as a whole… -
7-Eleven gets buyout offer from owner of Circle K
Can Frosters and Slurpees coexist? What about Polar Pops and Big Gulps? We may soon find out. The owner of Circle K wants to buy the owner of 7-Eleven. The former sent a preliminary offer described as “friendly” and “nonbinding.” Though Alimentation Couche-Tard, the parent company of Circle K, based in Canada, and Seven and… -
Soybeans are having an incredible year. That’s bad for prices.
Everything seemingly went right for growing soybeans this year, which is why prices are going all wrong. Soybean futures are near 4-year lows and down about 45% from its 2022 peak. Corn is also in a similar boat. The U.S. is in the midst of a farm slump right now, despite very high yields for… -
Kamala Harris’ economic plan is Biden 2.0 on prices, housing and child tax credit
Vice President and Democratic presidential nominee Kamala Harris gave the first real look into her economic agenda Friday, Aug. 16. The speech in Raleigh, North Carolina, marks the first major policy address given since she has taken over the top of the ticket. Harris is looking toward the economy as it remains one of the… -
Big real estate change coming next week for buyers, sellers and agents
New rules are coming on Saturday, Aug. 17, that will rock the real estate world. The conventional way of buying and selling a home is over, affecting anyone planning to work with a real estate agent in the foreseeable future. Even realtors are still trying to navigate the new landscape. The change is related to… -
Dating apps are in trouble. Here are the connections people are searching for.
Dating apps are facing a point of reckoning. Bumble is the latest to lose its wings. Its share price dropped 29% after it slashed its revenue outlook for the rest of the year. The stock is down around 65% in the past year, while Match Group, which owns Tinder, Match.com, OkCupid, and others, is down about… -
Preview: What will Fed Chair Jerome Powell say at Jackson Hole?
The Federal Reserve is giving no credence to calls for emergency rate cuts or panic over the labor market or stock market since July’s disappointing jobs report. Following signals that inflation continues to ease, all signs point to a September rate cut, though there is a lot of data to be released between now and… -
How big will the Fed go with rate cuts after July’s inflation report?
Following the latest jobs report that showed a weakening labor market, consumer prices rose by less than 3% on an annual basis for the first time since March 2021. Given the Federal Reserve’s dual mandate of price stability and maximum employment, one is coming into focus while the other is slipping away. How to interpret… -
What the latest inflation report means for mortgage rates as refinancing surges
After mortgage rates hit their lowest levels in more than a year last week, applications to refinance surged 35% compared to the previous week. The Mortgage Bankers Association Refinance Index is up 118% from a year ago. The average 30-year fixed mortgage rate has gone from under 3% in 2021 to nearly 8% in October… -
Inflation in July falls below 3% for first time since March 2021
Consumer price inflation rose slightly in July, in line with expectations. July’s 2.9% annual rise came in a tick below the 3% expected, clearing the way for the Federal Reserve to wait until September to take action after the month’s troubling jobs report. The Bureau of Labor Statistics numbers out Wednesday morning, Aug. 14, rose 0.2%…
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