Walmart remains cautious about the financial health of its shoppers, but executives at the retail giant do not see a full-blown downturn on the horizon. In an interview with CNBC, Walmart Chief Financial Officer John David Rainey said that the company decided not to raise expectations for the second half of the year given uncertainties like the 2024 election and ...
WASHINGTON — Vice President Kamala Harris plans to propose the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” her campaign announced late Wednesday. “There’s a big difference between fair pricing in competitive markets, and excessive prices unrelated to the costs of doing business,” the Harris campaign said in a statement. “Americans can see that difference in their grocery bills.” The ...
Consumer price growth in July slowed to its lowest post-pandemic level, a sign that the surging inflation that has gripped the U.S. economy is finally ebbing. On a 12-month basis, the Consumer Price Index (CPI) cooled to 2.9%, down from 3% in June — the first time the index dipped beneath 3% since March 2021. Month over month, it rose ...
The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, like those generated with AI technology, and other misleading practices to promote their products and services. All five FTC commissioners voted to adopt the final rule, which will go into effect 60 days after it is published in the Federal Register, the government’s official catalog of rules and notices. Typically, rules ...
United Airlines CEO Scott Kirby says he is optimistic about Boeing’s recovery after meeting with the manufacturer’s new chief executive. It’s an upbeat change of tune from the head of United, a top Boeing customer that has been among the most publicly frustrated about the plane maker’s problems, which have led to delayed deliveries of dozens of aircraft. Kirby and Boeing’s new CEO, Robert “Kelly” Ortberg, had ...
It appears to have taken a few weeks for current homeowners to realize mortgage rates had dropped dramatically. And when they did, they acted. Applications to refinance a home loan surged 35% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. They were up a whopping 118% when compared with the same week one year ...
Trader Joe’s is recalling 653,000 scented candles because they pose an elevated fire hazard. In a release on the Consumer Product Safety Commission’s website posted Thursday, Trader Joe’s said the flame on its Mango Tangerine candles can spread from the wick to the wax, causing a larger than expected flame. The products were sold in June. Trader Joe’s said it ...
The Murdoch family feud taking place in an obscure Nevada court highlights the state’s surging popularity as a global center of family trusts and a friendly home to the world’s biggest fortunes. According to legal industry rankings, Nevada is now the top state in the country when it comes to so-called asset-protection trusts like the one at the center of ...
Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand. The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared with the prior fiscal year. It had previously expected comparable sales, ...
Google on Tuesday announced new artificial intelligence features that are coming to Android devices. The move to bring its Gemini AI assistant to supported devices shows again how Google aims to put its AI in front of consumers before Apple, which will launch its AI on iPhones, Macs and iPads later this year. Google doesn’t make a lot of money from its hardware ...