Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. The payrolls processing firm…
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Affluent Americans are driving U.S. economy and likely delaying need for Fed rate cuts
Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other…
Amazon says more packages are arriving in a day or less after hefty investment in speedy fulfillment
Amazon says it is getting even more packages to customers in one day or sooner, a metric the e-retailer is promoting to customers as it faces heightened competition in online shopping.…
Walmart launches new grocery brand as it tries to hang on to inflation-fueled growth
Walmart is debuting a new grocery brand, as the discounter tries to retain the shoppers it has attracted during a period of high inflation. On Tuesday, the big-box retailer said it…
Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives
Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed the corporate ladder after joining Viacom in 1997, until he became…
As home sellers and buyers wait on a Fed cut, here’s how mortgage rates have affected the spring housing market
People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April…
Walmart to close 51 clinics as it shutters its entire Walmart Health division
Walmart will close all 51 of its doctor-staffed health clinics as part of an announcement that its Walmart Health initiative is shutting down. The clinics, located in Arkansas, Florida, Georgia,…
McDonald’s reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales. The company also continues to see consumers worldwide pull back on their restaurant…
JPMorgan CEO Jamie Dimon hopes for soft landing for U.S. economy but says stagflation is possible
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In…
Paramount and Skydance inch closer to a merger with one last big hurdle remaining
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone. Paramount Global’s special committee and David Ellison’s…