Bed Bath & Beyond plans for more layoffs as sales tank
Bed Bath & Beyond’s fiscal third-quarter sales fell by a third as the home goods company struggles to strike the right balance with its shoppers, a sign of its worsening outlook.
Why are eggs, egg product prices going up? Restaurant & farming expert weigh in
Have you noticed the price of eggs lately? They’ve nearly doubled over the past year. The production costs are impacting prices at the grocery store, bakery, and your favorite restaurant.
Record number of Americans are paying $1000 a month or more for monthly car payments, data shows
More than 15% of consumers who financed a new vehicle toward the end of 2022 committed to paying more than $1,000 a month, the highest percentage ever recorded.
FTC proposes rule banning noncompete clauses for workers
The Federal Trade Commission says the rule would open new job opportunities for 30 million Americans and raise wages by $300 billion a year.
Amazon to cut 18,000 jobs, largest amount of layoffs in company's history
The majority of job cuts will mostly impact the company's brick-and-mortar stores, which include Amazon Fresh and Amazon Go.
Arizona raises minimum wage by $1.05, but will it help? An economic expert weighs in
Some small businesses in Arizona say they've already been paying above minimum wage despite the state raising it by $1.05 this year so that they can retain good employees.
Record-high Social Security cost-of-living increase poised to kick in soon
Over 66 million Americans on social security are set to receive a record-high cost of living increase in 2023.
Biggest news stories of 2022: Supreme Court, Russia-Ukraine top headlines
It was another turbulent year in the U.S. and across the globe.
Holiday sales increase 7.6% despite the squeeze of inflation
U.S. sales between Nov. 1 and Dec. 24, a period that is critical for retailers, were fueled by spending at restaurants and on clothing.
IRS delays new tax-reporting rule on Venmo, PayPal payments over $600
The controversial reporting rule on payments over $600 will not go into effect this year.
Here's why eggs prices are so high
A dozen extra-large eggs in Midwestern grocery stores are costing roughly $5 wholesale.
Here's how much pay Americans say they'd need to start a new job
A recent survey from the Federal Reserve Bank of New York reveals most people will hop to a new job for a starting salary a little over $73,000 a year.
Senate passes $1.7T spending bill to fund government, aid Ukraine
The Senate has passed a $1.7 trillion bill to finance federal agencies through September, aid Ukraine and provide assistance to communities recovering from hurricanes, floods and other natural disasters.
US home sales drop again in November but prices are rising
Existing home sales fell 7.7% last month from October to a seasonally adjusted annual rate of 4.09 million, the National Association of Realtors said.
Treasury department delays electric vehicle tax credit changes
The Treasury Department has pushed the issuance of guidance for new electric vehicle tax credit rules from January to March as it continues to develop them.
Unemployment benefits and Obamacare subsidies outpace median income in several states, study finds
The labor force participation rate was 62.1% last month, notably lower than the 63.4% mark it was at before the coronavirus pandemic struck the United States in March 2020.
Rising car repossessions trend warning sign for economy, report says
The number of car repossessions across the United States is on the rise and expected to continue into the new year. Some industry experts say it is a sign of the economy.
Christmas meals will cost 16.4% more this year
The average grocery basket for Christmas dinner will cost an average of $60, Datasembly reported.
Wall Street may get much worse in 2023 before it gets better
Many analysts expect stocks to end 2023 around their current range, if not a bit higher. But before that, much of Wall Street is also forecasting stock prices to fall sharply in the interim.
How Federal Reserve’s series of rate hikes could affect your finances
As interest rates increase, many economists say they fear a recession could happen — and with it, job losses that may cause hardship for households already badly impacted by inflation.