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    More On: consumer spending Macy’s profits rebound thanks to stimulus spending Retail spending unchanged in April — even as more businesses reopened Dow crosses 34,000 mark as stocks head to new record highs Spring fashions are selling again, but full recovery may take years US retail sales dropped more than expected in May, with spending rotating back to services...
    COVID reached US sooner than we thought; Biden to host July 4th bash on White House lawn: Live updates Pure insanity: Emails show DOJ response to Trump election fraud claims By David French and Anirban Sen Load Error June 15 (Reuters) - Credit Sesame is planning to file for a U.S. initial public offering that could value the...
    New York (CNN Business)US retail sales fell 1.3% in May as the sector continues to come down from the stimulus-fueled high of recent months. The last round of stimulus checks from the American Rescue Plan approved by Congress in March boosted consumer spending in the early spring months. But the sugar rush has worn off.Sales numbers for April, which were...
    SAN FRANCISCO (KGO) -- You'll notice things will look a bit different beginning Tuesday, June 15 at restaurants around the state.The "new" normal of course will be a return to the old. Restauranteurs warn it may take patrons a while to get used to it.RELATED: Outdoor dining parklets could become permanent in SF"It's going to be a little weird to...
    VIDEO2:5902:59Trading Nation: How to play the inflation game — Two experts on safe places for your moneyTrading Nation As the economy quickly picks up steam in the wake of the Covid pandemic, Americans expect inflation to jump in the months ahead. Overall, the expectation is that the inflation rate will be up to 4% one year from now — a...
    VIDEO3:2303:23Bank of America CEO: Consumer spending has surged 20% compared to 2019Squawk Box American consumers are spending more freely as the economy continues to open up, according to Bank of America CEO Brian Moynihan. Transaction volumes on customers' credit and debit cards and over the Zelle payment network has grown by 20% so far this year compared to this point...
    By: KDKA-TV News Staff PLEASANT HILLS (KDKA) — The Allegheny County Health Department issued a consumer alert for a pizza and ice cream place in Pleasant Hills. READ MORE: Police: 2 Young Kids Critically Hurt In Quadruple Shooting The alert, posted on June 8, affects the Italian Village Pizza/Shake Shop on Old Clairton Road. READ MORE: FBI Warns Graduates...
    NEW YORK (CBSNewYork) — Consumers should be on the lookout for costly mistakes on their credit report. A Consumer Reports survey of nearly 6,000 people found more than a third, 34%, had at least one error on their credit report. READ MORE: Special Olympics Of New Jersey Torch Run Returns To Jersey City If they aren’t fixed, those errors could...
    Concerns are mounting that Joe Biden's $6 trillion spending spree will cause inflation, which is already at a 13-year high, to surge even further amid record federal spending and deficit - as Republicans warn his 'green worker paradise' plan will only supercharge prices. The consumer price index rose 5 percent in the 12 months through May, which is the highest...
    MINNEAPOLIS (WCCO) — If it feels like you’re paying more for everything, you’re right. Consumer prices pushed higher again in May. Looking back over the last year, prices have gone up 5%. That’s the largest 12-month inflation spike since 2008. Experts say the economy is reopening faster than employers can hire. According to financial news website MarketWatch, all three...
    kate_sept2004 | E+ | Getty Images Before you take out a mortgage or car loan, check your credit report. It may have a mistake that could cost you. It's not as uncommon as you may think. More than one-third, or 34%, of Americans found at least one error on their credit report, according to a new Consumer Reports investigation....
    Americans' wallets are on fire. With consumer prices last month rising at the fastest rate in nearly 13 years, some policymakers are worried that the hyperinflation of the 1970s is around the corner. But there's little chance of that, most economists say. To be sure, today's price hikes are real: The cost of everything from lumber to food to airfares...
    MELVILLE, N.Y. (CBSNewYork) — Pent up by COVID-19 lockdowns, a majority of Americans have indicated they will embark on a post-pandemic buying spree. Many have already started treating themselves, calling it “revenge spending.” As CBS2’s Jennifer McLogan reported Thursday, consumers are splurging to reclaim parts of their lives taken from them during lockdown, according to researchers at the Melville marketing...
    VIDEO5:2505:25Stocks hit records despite inflation uptick. Trading the disconnectTrading Nation Investors appear to be brushing off the latest inflationary uptick. Consumer prices in May rose at the fastest year-over-year rate since 2008, the Labor Department said Thursday, but U.S. stocks aren't feeling the heat.Zoom In IconArrows pointing outwardsThe S&P 500 instead hit a fresh record high in Thursday's session, ending...
    WASHINGTON - U.S. consumer prices surged in May, jumping 5% from a year ago, the highest annual inflation rate in nearly 13 years, the Labor Department reported Thursday. The increase, in a variety of ways, is linked to the country’s recovery from the coronavirus pandemic, with merchants increasing prices as consumers — many of them flush with money from...
    WASHINGTON -- U.S. consumer prices continue to climb sharply while weekly jobless claims are falling, according to two pieces of economic data released by the Department of Labor on Thursday.The Consumer Price Index, which measures what consumers pay for everyday goods and services and is often looked at as an inflation barometer, jumped 5% over the last 12 months --...
    American consumers are facing another month of steep price increases. Consumer prices rose 0.6% in May, and 5% over the last 12 months, the Labor Department said on Thursday. It's the fastest rate of increase since August 2008, reflecting growing demand as consumers shop, travel and dine out in a reopening economy. Prices for used cars and trucks...
    More On: inflation Chipotle hikes prices to cover higher wages amid labor shortage Fork it over! With soaring costs and labor woes, restaurants are passing the buck to you How the trucker shortage is fueling the meat crisis Key inflation indicator rises to highest level in decades Inflation continued to surge in May, with consumer prices accelerating at the...
    Consumer prices surged higher in May. The Consumer Price Index rose five percent compared with a year ago, the Department of Labor said Thursday. On a monthly basis, the CPI rose a hotter than expected 0.6 percent. Economists had expected the Labor Department to report that consumer prices rose 0.5 percent in May compared with April. The consensus forecast was...
    Inflation rose at a faster rate in May than any time since the Great Recession, as consumer face higher prices for everyday goods and services. In its report Thursday, the government said that overall consumer prices rose 0.6 percent in May, bringing the inflation rate to 5 percent over the past year, the highest level since August 2008.  Core inflation,...
    Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday. The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year ago. Economists surveyed by Dow Jones...
    London (CNN Business)From lumber and steel to paint and burrito bowls at Chipotle, prices are rising almost everywhere you look. That's putting investors on high alert.What's happening: Wall Street is training its attention on the Consumer Price Index for May, which arrives on Thursday. The report is expected to show that prices excluding food and energy continued to notch strong...
    Employees work at a factory producing trucks in Zhangjiakou in China's northern Hebei province on June 9, 2021.STR | AFP | Getty Images BEIJING — Chinese factories are facing the largest gap on record between the speed at which producer prices and consumer prices are climbing. Selling prices to private consumers are holding fairly steady, while production costs are soaring....
    New York (CNN Business)Tesla's best-selling Model 3 sedan lost two designations from Consumer Reports after the company made changes to the car's automatic braking and front collision warning systems.The car also was stripped of its designation as Top Safety Pick+ from the Insurance Institute for Highway Safety.The moves came after Tesla announced that, as of May 1, its Model 3...
    Americans borrowed less than expected in April, data released by the Federal Reserve showed Monday, indicating that the precautionary stance many consumers adopted in 2020 may linger even as the pandemic recedes. Total consumer credit increased $18.6 billion, an annual growth rate of 5.3 percent. This was the third consecutive month of better than five percent growth. But economists had...
    SAN FRANCISCO (KGO) -- Beverage container recycling in California has now fallen to new lows. Many areas are now "recycling deserts" where it is all but impossible to return your containers and get your deposit back. Now, after years of trying to fix the bottle deposit/recycling problem, it looks like California is on the edge of moving forward.State Senator Bob...
    Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021.David Paul Morris | Bloomberg | Getty Images Instead of jumping to a conclusion about the post-Covid consumer, revert back to one that psychology studies educated us on long before the pandemic. Individuals don't change habits easily, and what they may stand to...
    Illinois craft breweries trying to survive the COVID-19 pandemic will get new privileges following action by the Illinois legislature. The industry was pushing for passage of the Brewers Economic and Equity Relief Act, or BEER Act, a bill supporters say was designed to help craft breweries modernize and recover from the effects of the pandemic. The bill is...
    We cannot stay silent: Texas valedictorian goes off script in graduation speech to protest new abortion law Abortion Is Why Never-Trump Republicans Can’t Work With Dems © Provided by Benzinga Alibaba Group Holding Ltd (NYSE: BABA)-backed Ant Group has secured a key China Banking and Insurance Regulatory Commission approval to operate a consumer finance company, CNBC reported on Thursday. ...
    Ohio veterans microphone was cut during part of a Memorial Day speech that touched on Black peoples role in the holiday Pandemic misery index finds hardship hit most people, but Black and Latino Americans suffered most. Latest COVID-19 updates. (Bloomberg) -- Ant Group Co.’s most lucrative business of consumer lending is likely to become less profitable as the financial...
    Supreme Court asked to block federal eviction moratorium Why hackers are going after physical infrastructure China has approved Ant Group to operate a consumer finance company. Ant will hold a 50% stake in the new entity. The creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues....
    Texas high school valedictorian Paxton Smith switches speech to speak out on states abortion law Biden narrows infrastructure request, but hurdles remain for deal Investors will monitor Hong Kong-listed shares of Alibaba after Ant Group received approval to operate a consumer finance company. That marked a major positive development for Ant in the forced restructuring of its business...
    We cannot stay silent: Texas valedictorian goes off script in graduation speech to protest new abortion law Ex-Treasury official sentenced to 6 months in prison for leaking banking documents related to the Mueller probe BEIJING (Reuters) - Ant Group's consumer finance unit has won approval to begin operating in Chongqing city, the local banking watchdog said on Thursday. ©...
    In this article 9988-HKA logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020.Aly Song | ReutersGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months...
    LOS ANGELES (CNS) -- Los Angeles residents are less satisfied with their quality of life compared to people throughout California and the U.S., but perceive less crime, vandalism, and drug and alcohol use in their neighborhoods than two years ago, according to the second annual USC Dornsife-Union Bank LABarometer livability survey, released Wednesday.According to the study, on a scale of...
    Many conservatives celebrated this week when Florida Governor Ron DeSantis signed his marquee Transparency in Technology Act into law. The law, conservatives hope, will rein in “Big Tech” companies by preventing them from banning certain users or removing content that platforms find objectionable. Their celebration will be short-lived. In the near-term, because the law is unconstitutional and its primary provisions...
    In this article AMZNVIDEO4:0704:07'Amazon Unbound' author on Jeff Bezos and his global empireSquawk on the StreetIt's typically one of the most anticipated sales of the year. In 2021, pent-up consumer demand and a surge in new online shoppers could make Amazon Prime Day even bigger. This year's Amazon Prime Day will include discounts on more than 2 million items for...
    Democratic Washington, D.C., Rep. Eleanor Holmes Norton introduced a bill Tuesday that would require car crash test dummies to use both male and female models. “Women have achieved equality on the road when it comes to driving, but when it comes to safety testing to keep them safe on the road, they are nowhere near achieving equality,” Norton said in...
    U.S. consumer prices surged in April, with a key measure of underlying inflation blowing past the Federal Reserve's 2 percent target and posting its largest annual gain since 1992. In the 12 months through April, the personal consumption expenditures price index vaulted 3.1 percent, the most since July 1992, after rising 1.9 percent in March, data on Friday showed.  A...
    A butcher stocks a display case with packages of steaks at a Costco store on May 24, 2021 in Novato, California.Justin Sullivan | Getty Images Don't tell Costco executives that inflation is low. The big-box club chain said it's been seeing accelerating prices across a range of products, including shipping containers, aluminum foil and a 20% spike in meat prices...
    U.S. consumers expect much higher prices over the next year and they expect elevated inflationary pressure to persist for years, data released Friday showed. The University of Michigan’s survey of consumers in May indicated that consumers expect a 4.6 percent rise in prices over the next 12-months, the highest level of inflation expectations since April 2011. The expectation for 5-year...
    An inflation indicator rose from a yearly pace of 3.1% in April, topping the expectations of forecasters and adding to concerns about overheating. The metric was released on Friday by the Commerce Department. The personal consumption expenditures index, excluding volatile food and energy costs, had been predicted to rise by 2.9%, which is still a large increase from March,...