Federal prosecutors are digging into internal practices at Block, the financial technology firm launched by Twitter co-founder Jack Dorsey, discussing with a former employee alleged widespread and yearslong compliance lapses at the company’s two main units, Square and Cash App, two people with direct knowledge of the contacts say. During the discussions, the former employee provided prosecutors from the Southern District ...
Trump Media shares climbed nearly 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week. DJT closed the trading day at roughly $50 a share, about 30% below its opening price of $70.90 in late March. The stock has had several volatile days in the past month, trading at a high of about $60 a share ...
Former President Donald Trump is building a second-term economic agenda that analysts say could reheat the very inflation that he has slammed President Joe Biden for creating. “I call it a ring around the country. We have a ring around the country,” Trump said in a Time magazine interview released Tuesday, referring to aggressive tariffs he has promised to impose in a second term. “I also don’t believe ...
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. The payrolls processing firm reported Wednesday that companies added 192,000 workers for the month, better than the Dow Jones consensus outlook for 183,000 though a slight step down from the upwardly revised 208,000 in ...
Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is still trading well below the more than $70 per share it opened at in its public trading debut on March 26. Trump Media in a ...
It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have been predicting that consumers would cut back on their spending in response to ...
People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal Reserve. The rate was 7.10% the prior week. Buyers and sellers may not see any relief soon. It remains unclear when the Fed ...
Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain. “I really ...
Amazon says more packages are arriving in a day or less after hefty investment in speedy fulfillment
Amazon says it is getting even more packages to customers in one day or sooner, a metric the e-retailer is promoting to customers as it faces heightened competition in online shopping. The company said on Monday that nearly 60% of orders placed through Prime in the top 60 U.S. metro areas in the first quarter arrived the same or next day. ...
Walmart is debuting a new grocery brand, as the discounter tries to retain the shoppers it has attracted during a period of high inflation. On Tuesday, the big-box retailer said it will roll out a private label called BetterGoods, a line of more trend-and chef-driven foods. Most items will be priced at less than $5. Walmart is already the country’s largest ...