The Federal Reserve hiked interest rates Wednesday to curb consumer demand and inflation acknowledging the move risks triggering a painful recession. Defending the move, the Fed points to low official unemployment numbers indicating a tight labor market that could induce a wage price spiral. But I disagree because reassured workers don’t have as much power
Month: September 2022
New York Attorney General Letitia James’ complaint against former President Donald Trump, Donald Trump Jr., Eric Trump, Ivanka Trump, Allen Wesselberg, Jeffrey McConney and ten entities including the Trump Organization is not mainly focused on taxes. It is mostly about Trump gaining advantages such as favorable loan terms and insurance provisions by purportedly misrepresenting his
Creating a unique real life experience that can’t be replicated online is essential for brands today. This is especially true for Lonely Ghost, a streetwear brand made popular by its influencer founder, Indy Blue Severe, and a slew of famous fans including Lucy Hale, Charli D’Amelio, and Addison Rae. After much success with its first
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT Target’s entry into the Canadian market in 2013 was its first foray in international expansion. A combination of extensive renovation needs, a flawed merchandising system, tight time frame and inadequate leadership were some of the reasons the big-box retailer decided to close all 133 stores
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT An order of breadsticks from a Darden Restaurants Inc. Olive Garden Getty Images Darden Restaurants on Thursday reported mixed quarterly results but still reiterated its outlook for fiscal 2023. The parent company of Olive Garden and LongHorn Steakhouse said net sales for the quarter rose 6.1%
In this article DRI CSA-FF SCS CRM KBH LEN Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines before the bell: Accenture (ACN) – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate
In this article TCOM Follow your favorite stocksCREATE FREE ACCOUNT BEIJING — Hotel reservations in China have surpassed pre-pandemic levels since late June, booking site Trip.com said Thursday. Trip.com shares briefly fell by more than 7% Thursday in Hong Kong trading, before recovering slightly to close 4.5% lower. New York-listed shares dropped 8.5% lower overnight,
Hinterhaus Productions | Digitalvision | Getty Images It’s that time of year, when workers get to make some decisions about their employee benefits. Many companies are beginning to hold their annual open enrollment period, which is when employees can sign up for 2023 health insurance — as well as consider other benefits, if your employer
Share to Facebook Share to Twitter Share to Linkedin The dollar is rising against other currencies to levels not seen in decades, hurting other countries and the U.S. This episode of What’s Ahead lays out why the greenback is rocketing and why that’s a symptom of bad economic and monetary policies. The Federal Reserve, for
New York has a convoluted body of usury law that deems certain loans usurious and invalidates them. New York’s usury law almost never actually applies to any loan because the law is riddled with so many exceptions and exclusions. It will, however, sometimes rear its ugly head with casual or noninstitutional transactions, or where a
Sales of previously owned homes fell 0.4% in August from July to a seasonally adjusted annualized rate of 4.80 million units, according to the National Association of Realtors. That is the slowest sales pace since May 2020, when activity stalled very briefly due to the start of the Covid pandemic. Outside of that, it is
Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE – Children With Special Needs at Casa Cipriani on June 23, 2022 in New York City. Craig Barritt | Getty Images Sam Bankman-Fried’s crypto conglomerate FTX is in talks with investors to raise up to $1 billion in new funding that would keep
“Violence against another person” is by far the most common criminal offense reported in U.K. hotels, new data shows. Statistics from eight police forces across the U.K. show there were 4,589 allegations of violence and 1,307 of public disorder — which often involves intimidation or the threat of violence — in hotels, motels and guesthouses
The Federal Reserve raised the target federal funds rate by 0.75 percentage points for the third time in a row, in an effort to cool down unrelenting inflation. Fed officials have raised the benchmark short-term borrowing rate a total of five times this year, including 75 basis point increases in June and July, marking an unprecedented pace.
Most of us know someone or have a family member affected by this brain disease. The word “dementia” is often used interchangeably with Alzheimer’s disease, though there are other kinds of dementia, with some different symptoms. The importance of awareness is not about the definition. It’s about how families need to recognize the early signs
Tax Notes contributing editor Robert Goulder breaks down the new excise tax on corporate stock buybacks in the Inflation Reduction Act, all in five minutes. This transcript has been edited for length and clarity. President Joe Biden recently signed the Inflation Reduction Act (P.L. 117-169). It contains various healthcare and clean energy provisions, but this
Kim Kardashian has lived in a variety of homes, but she still has stayed close to Los Angeles with homes in Beverly Hills, Beverly Grove, Bel Air and Hidden Hills. Now she is moving about an hour away to Malibu where she bought an oceanside estate that once belonged to supermodel Cindy Crawford. At $70.4
The list of things that interest Elon Musk ranges from space travel to easing Los Angeles’ infamous traffic. One thing that doesn’t make the cut? Patents. The 51-year-old entrepreneur recently appeared on CNBC’s “Jay Leno’s Garage” to give the former “Tonight Show” host a tour around the SpaceX Starbase facility in Texas. During the tour,
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, July 27, 2022 in Washington, DC. Drew Angerer | Getty The Federal Reserve will raise interest rates as high as 4.6% in 2023 before the central bank stops its fight against soaring inflation, according to its
Whether you’re strapping in for a Peloton ride or buying up virtual real estate, Mark Zuckerberg says you’ve joined the metaverse. On an August episode of the Joe Rogan Experience podcast, the Meta CEO said the evolution of virtual reality will unfold similarly to computers and cell phones: Gamers are the first to explore new
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