A bipartisan group of lawmakers sent Meta CEO Mark Zuckerberg a letter on Thursday expressing concern that the company is failing to prevent illicit drug advertisements from running on its platform. The House members cited recent reports from The Wall Street Journal and nonprofit Tech Transparency Project, which uncovered a flood of ads on Facebook and Instagram that pointed users to third-party services where they could purchase prescription ...
Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be tasked with turning around the company’s slumping sales, improving customers’ experience inside stores and figuring out ...
Grocery price growth, once the scourge of the post-pandemic inflation surge, has finally settled down. On Wednesday, the Bureau of Labor Statistics reported that food-at-home prices increased 1.1% year-on-year — the ninth-straight month of sub-2% increases. For the average consumer, the new price levels can take years to adjust to, economists say. Between January 2021 and December 2022, grocery prices ...
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 ...