News
Banks rake in big profits as both Wall Street and the US consumer stay strong
2+ hour, 56+ min ago (891+ words) It marks the second straight quarter of strong results from the banks, which have benefited from market volatility since the Iran war began in late February. Both consumer-facing and market-focused banks reported revenue and profit growth that beat even the…...
PepsiCo says economic concerns weighed on customers in North American during recent quarter
5+ day, 15+ hour ago (392+ words) “I think the consumer is worse than what we had anticipated, and it’s driven mainly by gas prices,” PepsiCo CEO Ramon Laguarta said Thursday during a conference call with investors. PepsiCo's shares fell 4% in morning trading Thursday. The food and…...
New Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
1+ week, 6+ day ago (215+ words) CTPost In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, âI guess they'd be disappointed We're going to deliver price stability.â The Fed…...
America In Focus: Inflation hits 3-year high, Wall Street rallies and Musk becomes a trillionaire
1+ mon, 1+ day ago (993+ words) The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs…...
Europe's central bank raises rates to fight inflation from Iran war, the Fed to decide next week
1+ mon, 3+ day ago (18+ words) CTPost...
Inflation likely reached 3-year high last month as Iran war spikes gas prices
1+ mon, 4+ day ago (488+ words) Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department reports last month's figures Wednesday, according to a survey of economists by data provider FactSet The annual increase would be up from the 3.8% reading in…...
Tomatoes become latest symbol of America’s affordability squeeze
1+ mon, 2+ week ago (601+ words) Prices for those red orbs have soared more than any other food product over the past year to cement a spot as one of the consumer headaches du jour. “The tomato has become a symbol of something much deeper,” says…...
As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows
1+ mon, 2+ week ago (509+ words) The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains. The measure hasn't fallen as much this year as other gauges of consumer attitudes, but it has been stuck at a…...
America In Focus: mortgage rate rises while Wall Street looks to continue its winning ways
1+ mon, 3+ week ago (588+ words) The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and that is…...
Argentina’s beef consumption falls to lowest level in 20 years as prices soar
1+ mon, 4+ week ago (676+ words) Among the stacks of beef boxes and red meat cuts hanging from metal hooks, chicken and pork are increasingly present. Red meat consumption in Argentina — historically one of the world’s biggest consumers of beef — has fallen to its lowest level…...