What recession? Walmart says consumers are still spending
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,…
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Mortgage refinancing surges 35% in one week as interest rates hit lowest level in over a year
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%…
Surging grocery prices have settled down, but shoppers are still adjusting
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 —…
Inflation rate falls to 2.9% in July, adding to signs that surging prices have abated
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,…
Some experts have raised the odds of a recession. Here’s how much you should have in emergency savings.
As investors face economic uncertainty, financial advisors have guidelines for how much cash they should have set aside. Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession,…
Wizz Air launches $550 ‘all you can fly’ annual subscription pass
LONDON — Travelers in Europe can now take unlimited flights for 499 euros ($550) a year under a new travel subscription service from budget carrier Wizz Air. The annual “all you…
A U.S. construction boom is sending rents lower and creating perks for renters
A construction boom in the U.S. has resulted in lower rents and other benefits for renters. Record-construction activity since the pandemic has increased the supply of empty units, meaning more inventory is…
Mars to acquire snack maker Kellanova in $36 billion deal
Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Tuesday. The M&M owner Mars is acquiring the Kellogg spin-off company for $83.50 per…
Google launches first AI-powered Android update and new Pixel 9 phones
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…
Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief…