WASHINGTON — Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep…
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Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue
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Walgreens announced Wednesday it would continue to cut prices on 1,300 items — making it the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue.…
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Weekly mortgage demand drops to three-month low as rates begin climbing again
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After a brief pullback during much of May, mortgage rates began rising again last week. That had an immediate impact on what had been several weeks of strengthening mortgage demand.…
American Eagle on Wednesday said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than…
Shares of U.S. Cellular popped nearly 6% Tuesday after T-Mobile announced that it plans to acquire most of the company, including the wireless operator’s stores, some of its spectrum assets and its customers in a…
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Why everyone is suddenly talking about Nvidia, the nearly $3 trillion-dollar company fueling the AI revolution
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The business world is increasingly banking on artificial intelligence to be the next big thing, and has found itself turning to one maker of computer chips in particular — Nvidia…
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McDonald’s might never expand CosMc’s. But the spinoff could still pay dividends.
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Nearly six months since McDonald’s opened its first CosMc’s location, the hours-long drive-thru lines have died down, but the chain is just getting started. The burger giant created the spinoff using one of its…
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FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison
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Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in prison, followed by three years of…
Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. “very soon” to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. Tavares disclosed…
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Global debt has grown to $315 trillion this year — here’s how we got here
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The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in…