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    FITNESS company Peloton will be recalling its treadmills as of May 5, 2021. The announcement comes after weeks of discussions with the US Consumer Product Safety Commission. 3Peloton will be recalling its treadmills effective immediatelyCredit: Getty Why did Peloton recall all treadmills? Peloton will be recalling its treadmills after various reports of injuries from consumers....
    Peloton and the Consumer Product Safety Commission are recalling two treadmill models, which they say have resulted in dozens of injuries and one death. The recalls were issued for Peloton’s Tread+ and Tread treadmills on Wednesday after more than 70 incidents and one child’s death were reported. The decision was made less than three weeks...
    By Chris Isidore and Jordan Valinsky, CNN (CNN) — Peloton recalled its Tread+ and Tread treadmills Wednesday, and the company admitted it was wrong to fight the Consumer Product Safety Commission’s request that it do so. READ MORE: Peloton CEO Issues Consumer Warning About Tread+ Treadmills After Fatal Accident Involving Child About 125,000 treadmills are...
    SAN FRANCISCO (CBS SF/AP) — During the COVID-19 pandemic, thousands of San Francisco Bay Area residents bought Peloton Tread Plus treadmills to maintain their fitness while sheltering in place. On Wednesday, the company announced a recall over safety concerns. The recall came after Consumer Product Safety Commission issued a warning last month, saying it had...
    VIDEO1:5901:59Private equity firm L Catterton picks 3 consumer trends to watch in 2021Street Signs Asia The coronavirus economic recovery, continued tech adoption and increased demand for health products are three trends set to dominate consumer behavior in Asia in 2021. That's according to new insights from consumer-focused private equity firm L Catterton, which has recorded...
    Consumer prices in the U.S. have skyrocketed across multiple industries as the federal government mulls injecting further stimulus into the economy. “We are seeing very substantial inflation,” Warren Buffett, billionaire investor and chairman of Berkshire Hathaway, said at his company’s annual shareholder meeting Saturday, according to CNBC. “The 100% cause of inflation is...
    The direct stimulus payments that hit bank accounts across the U.S. in March increased incomes by a record amount—but much of it found its way into foreign coffers, pushing the trade deficit up to the highest level on record. The U.S. international trade deficit rose to a record $74.4 billion in March with more imports...
    VIDEO16:0316:03The power of optimism: Life is Good's Bert Jacobs at CNBC Small Business PlaybookSmall Business Playbook Life is Good was on the verge of filing for bankruptcy protection last year, according to its CEO, but the retailer managed to overhaul its business strategy in a matter of weeks to have its best year ever during...
    In recognition of Older Americans Month, Attorney General Chris Carr is encouraging older consumers to protect themselves from fraudsters by becoming familiar with common scams and scam tactics.  “We are proud to celebrate Older Americans Month and pay tribute to the achievements, sacrifices and innovations...
    Some corporations are already winning big as President Joe Biden’s economic agenda drives up inflation. Business analysts for some of America’s biggest firms expect Biden’s aggressive spending to increase the cost of goods, and to send corporate profits up with them, according to Bloomberg. The major injection of cash into the economy by the government...
    A container ship is guided by tugboats out of the terminal at the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021.Lucy Nicholson | Reuters The U.S. trade deficit hit a fresh record high in March as U.S. consumers flush with government...
    VILE Covid fraudsters are injecting pensioners with a fake vaccine in a horrific £160-a-jab doorstep scam. Vulnerable Brits are being targeted in their own homes by conmen who give them a shot and take their cash, experts say. ???? Read our coronavirus live blog for the latest updates 5Fraudsters are injecting Britain's most vulnerable people with fake...
                        As time expired in the Florida legislative session, a consumer protection bill died. The bill, HB 969, would have given consumers more control over data collected by large companies and would have required businesses in Florida to tell consumers what data has been...
    TALLAHASSEE (CBSMiami/NSF) – Business lobbyists claimed victory Friday after the demise of a bill that would have given consumers more control over personal data collected by companies. The bill (HB 969), backed by House Speaker Chris Sprowls, R-Palm Harbor, drew heavy opposition from businesses, at least in part because it would have allowed civil lawsuits...
    New York (CNN Business)The economy is on the path to recovery but it's still far from repaired. Yet investors and economists are already worried it might be growing too fast. Here's what experts actually mean when they talk about the "overheating" economy.Just over a year ago, the US economy faced its worst downturn on record...
    California consumers are feeling near-record optimism as the state appears to be beating back the pandemic that crushed the economy. The Conference Board’s polling put its consumer confidence index for California at 132.1 for April — up from a revised 104.6 a month earlier and up from 73.4 a year ago. It’s the second-highest reading...
    U.S. consumer sentiment continued to improve in late April as job gains surged and economic activity recovered across much of the country. But the strength of consumer spending could lead inflation higher than desired. The University of Michigan’s final sentiment index for April rose to 88.3 from the midmonth reading of 86.5, data released Friday...
    WASHINGTON - U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government, building a strong foundation for a further acceleration in consumption in the second quarter.   Other data Friday showed labor costs jumped by the most in 14 years in the...
    A judge in Maryland has ruled that an apartment company co-owned by Jared Kushner, former President Donald Trump's son-in-law, repeatedly violated state consumer protection laws by collecting debts without required licenses, charging tenants improper fees and misrepresenting the condition of rental units. Administrative Law Judge Emily Daneker said in her 252-page decision Thursday that violations...
    Bloomberg The Dark Horse of the Vaccine Race May Be This French Biotech (Bloomberg) — As the battle with Covid-19 rages around the world, a small French biotech has a possible solution for the long-term war against the virus and the rapidly spreading mutations.The company, Valneva SE, has a vaccine that could be more variant-proof,...
    WASHINGTON, D.C. (CBSNEWS.COM) – Americans are being urged to immediately stop using three models of portable bedrails sold online by Walmart and other retailers because they pose a deadly risk of entrapment and strangulation, according to the U.S. Consumer Product Safety Commission. Sticker where model number on recalled bedrail can be found.(credit: U.S. Consumer Product...
    SAN FRANCISCO (KGO) -- 7 On Your Side's Michael Finney celebrated his 30th anniversary with ABC7 News Thursday, with "Michael Finney Day" being proclaimed in San Francisco and the State of California.In a morning surprise Zoom call hosted by Consumer Watchdog president Jamie Court, ABC7 News staff, Finney's family, and special guests lauded Finney for...
    A nationwide floral distributor based in Mahwah stiffed customers by delivering wilted arrangements and those different from what was ordered and refusing to compensate those who complained, state authorities charged. Avas Flowers avoided criminal charges by agreeing to improve its business practices and paying the state $60,000, following an investigation of alleged violations of the...
    SAN FRANCISCO (KGO) -- Mortgage rates have dropped for three weeks in a row and now hover around 3%. That means the average homeowner can save thousands of dollars a year. However, many homeowners are missing out on refinancing because they are following the old unwritten rule that the new interest rate should be at...
    Nuclear plant north of New York City shutting down Sen. Tim Scott to meet with George Floyds family Thursday (Bloomberg) -- Chinese regulators imposed wide-ranging restrictions on the fast-growing financial divisions of 13 companies including Tencent Holdings Ltd. and ByteDance Ltd., leveling many of the same curbs employed against Jack Ma’s Ant Group Co....
    New York (CNN Business)America is emerging from the worst of the pandemic, and that will mean some eye-popping figures when the government releases economic growth data Thursday. But the big jump — fueled by resurgent consumer spending after a year in lockdown — will still be starting from a deep hole. Economists predict that...
    The Federal Reserve will continue its ultra-low interest rate policies and bond-buying program, a sign that it wants to see more evidence of a strengthening economic recovery before it considers easing its support. In a statement Wednesday, the Fed said the economy and job market have "strengthened," and while inflation has risen, Fed policymakers ascribed...
    The Federal Reserve on Wednesday declined to let up on its easy-money policy despite an economy that it acknowledged is accelerating. As expected, the U.S. central bank decided to keep short-term interest rates anchored near zero as it buys at least $120 billion of bonds each month. The latter part of policy is a two-pronged...
    CEO of Landry’s and owner of the NBA’s Houston Rockets Tilman Fertitta said Tuesday on CNBC’s “Power Lunch” that businesses are having a hard time finding enough workers because enhanced unemployment benefits Congress passed to combat the coronavirus pandemic’s impact on the economy are now discouraging out-of-work Americans from taking jobs. Anchor Tyler Mathisen asked, “What...
    Shares of Crocs, the maker of foam clogs worn by everyone from children to celebrity chefs, soared Tuesday after the shoemaker raised its 2021 sales forecast. The company said it expects revenue for the year to increase between 40% and 50%, up from it previous estimate of 20% to 25%. The company's stock price surged...
    In this article XRTVIDEO3:0303:03After Etsy and Best Buy downgrades, traders share next retail starsTrading NationIt may be time to ditch pandemic-favorite retail stocks like Best Buy and Etsy and rotate into other under-the-radar names in the space. Wedbush downgraded Best Buy to neutral and Keybanc bumped Etsy to sector weight on Monday. The XRT retail...
    ALAMEDA, Calif. (KGO) -- The pandemic has sunk all too many into a financial black hole, but as expensive as the Bay Area is, it's still possible to achieve your financial dreams post pandemic. Here's a road map of one path to success.The Dow Jones Industrial average hit an all-time stock market high on April...
    Roku has warned customers that YouTube TV could soon be removed from its platform due to 'predatory' and 'anti-competitive' demands by Google.  Roku aired the details of its stalemate with Google in a scathing statement on Monday, claiming the tech giant has threatened to end their carriage agreement for YouTube TV unless Roku grants preferential...
    In this article SJM KMB HSY MDLZ GIS KHC PEP PG KO Shoppers search for items at a Costco Wholesale store August 4, 2020 in Colchester, Vermont.Robert Nickelsberg | Getty ImagesInflation is coming. Look no further than Coca-Cola and Procter & Gamble sharing plans this week to raise prices to offset rising commodity costs....
    SAN FRANCISCO (KGO) -- When someone goes into the hospital with the coronavirus, it is heartbreaking. If they die, the pain is unimaginable.Mona Carter lost a close family member. "She was off and on the breathing treatment... then that was it... it happened so fast," she says.With so much pain, many find it difficult to...
    (CNN)A Consumer Reports test driver has demonstrated in a new video that, yes, a Tesla vehicle with the Autopilot feature will drive with no one in the driver's seat. The question came up after a fatal accident in Texas last weekend, said Jake Fisher, head of auto testing at Consumer Reports. In that crash, according...
    In this article NES.N-CH Nestle is maintaining growth despite committing billions of dollars towards improving the company's environmental footprint, CEO Mark Schneider told CNBC Thursday. "Today's consumer asks even more than before for sustainability. They want to know that we are treating the planet well, they want to know we're taking care of the next...
    PALO ALTO (CBS / AP) — Consumer Reports said Thursday it was able to easily trick a Tesla into driving in the car’s Autopilot mode with no one at the wheel. Its test came just days after a Tesla crashed in Texas, killing the two men in the car. Authorities say neither of the men...
    Consumer Reports engineers were able to operate a Tesla vehicle without anyone in the driver’s seat, and the system failed to send out a warning or indicate that the driver’s seat was empty, the magazine said Thursday. The engineers tested Tesla Model Y this week as investigators probe an accident where two men died after their Tesla Model S, which...
    April 22 (Reuters) – Consumer Reports said on Thursday its engineers were able to operate a Tesla without anyone in the driver’s seat, and that the system failed to send out a warning or indicate that the driver’s seat was empty. The engineers tested the Tesla Model Y this week as investigators probe an accident...
    In the wake of a fatal Tesla crash in Texas that authorities believe occurred while no one was sitting in the driver's seat, Consumer Reports has demonstrated one way it is possible to engage the vehicle's Autopilot feature without a driver in the correct position. Consumer Reports dmonstrates how a Tesla can be tricked into...
    In this article TSLAThe new Tesla Model Y is introduced. Tesla has expanded its model range to include an SUV based on the current Model 3.Hannes Breustedt | picture alliance | Getty ImagesConsumer Reports took a 2020 Tesla Model Y on a closed test track to see if the electric vehicle could operate on Autopilot,...
    NEW YORK (WABC) -- This Earth Day, Mayor Bill de Blasio announced some big efforts to go green in the city like electric school buses, the return of composting, and a big lawsuit against big oil.Mayor de Blasio first announced 100% of New York City's school bus fleet will electric by 2035.The mayor said that...
    Senate Republicans Wednesday expressed cautious openness to supporting the nomination to the Federal Trade Commission of Lina Khan, highlighting the bipartisan interest in reining in tech companies. No Republicans expressly said they would support Khan’s nomination, during a Senate Commerce hearing on her nomination on Wednesday. But multiple GOP senators agreed with the Columbia Law...
    MIAMI (CBSMiami/AP) – The Florida House resoundingly approved a consumer privacy bill on Wednesday, giving the public an opportunity to regain ownership of the personal data collected by companies and the right to sue companies for mishandling information in a marketplace where consumers themselves have become lucrative commodities. The state Senate is expected to soon...
    TALLAHASSEE, Fla. (AP) — The Florida House resoundingly approved a consumer privacy bill on Wednesday, giving the public an opportunity to regain ownership of the personal data collected by companies and the right to sue companies for mishandling information in a marketplace where consumers themselves have become lucrative commodities. The state Senate is expected to...
    Magic Leap CEO Peggy Johnson says the mixed reality headset company will be shipping limited quantities of a second-generation device at the end of this year, with broader availability in the first quarter of 2022. Johnson offered a timeline for the Magic Leap 2 launch in an interview with Protocol. She says the long-awaited device...