Fotostorm | E+ | Getty ImagesInflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years.While many areas of the U.S. economy are disinflating โ meaning their prices are still rising, though at a slower rate โ some have been outright...
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Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday.Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for...
Annual inflation rate slows to 2.9% in July, lowest since 2021
Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting...
Murdoch family battle highlights Nevadaโs secret trust boom
(L to R) Rupert Murdoch, executive chairman of News Corp and chairman of Fox News, and Lachlan Murdoch, co-chairman of 21st Century Fox, walk together as they arrive on the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho.Drew Angerer |...
Why Wall Street thinks Brian Niccol is the person to revive Starbucks โ and end the Howard Schultz era
Brian Niccol, CEO of ChipotleAnjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks โ and move the chain past the decadeslong Howard Schultz era.Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the...