Consumer sentiment slips on frustration over high prices
The survey bottomed out in June 2022, when inflation peaked at 9.1%, and has since risen by about 40%, though it remains significantly below pre-pandemic levels.
Associated Press
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Stellantis, seeking to revive sales, makes some leadership changes
Stellantis announced a number of significant leadership changes on Thursday, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer, as it struggles to revive sales in North America.
Milton spares Florida factory that’s critical supplier of IV fluids
B. Braun Medical’s manufacturing site and distribution center in Daytona Beach were not seriously impacted by the hurricane, said a company spokesperson. The center produces about a quarter of the country’s IV fluids.
WNBA to expand Finals to 7-game series next season
The league also will change the opening-round format in the playoffs to ensure the lower seeded team plays a home game.
TD Bank to pay $3B in historic money-laundering settlement with Justice Department
The Justice Department said the bank allowed at least three different money laundering networks to move a total of $670 million through TD Bank accounts over a period of several years.
Milton knocks out power to millions, spawns 150 tornadoes across Florida
Hurricane Milton barreled into the Atlantic Ocean on Thursday after plowing across Florida. The storm caused at least four deaths and compounded the misery wrought by Helene while sparing Tampa a direct hit.
Inflation hits lowest point in three years, but core prices remain elevated
Excluding volatile food and energy costs, “core” prices, a gauge of underlying inflation, remained elevated in September, driven up by rising costs for medical care, clothing, auto insurance and airline fares.
U.S. jobless claims climb to highest level in a year
Analysts say the increase is more likely a result of Hurricane Helene—and the Boeing machinist strike—than a broader softening in the labor market.
More than 3 million without power as tornadoes, Hurricane Milton slam Florida
Hurricane Milton plowed into Florida as a Category 3 storm Wednesday, bringing misery to a coast still ravaged by Helene, pounding cities with winds of over 100 mph after producing a barrage of tornadoes, but sparing Tampa a direct hit.
Social Security’s scheduled cost of living increase ‘won’t make a dent’ for some retirees
About 70.6 million Social Security recipients are expected to receive a smaller cost of living increase for 2025 than in recent years, as inflation has moderated.
Bakery that makes Sarah Lee, Entenmann’s pushes back on FDA sesame warning
Bimbo Bakeries USA appears to be defying an FDA warning sent in June that said the several of the company’s products are “misbranded” because the labels list sesame or tree nuts even though those ingredients aren’t in the foods.
Amazon says new technology in delivery vans will help sort packages and save time
Amazon expects to put 1,000 delivery vans that contain the Vision-Assisted Package Retrieval technology on the road by early next year.
Airlines say they’re capping fares in the hurricane’s path as officials warn against price gouging
U.S. flight cancellations were expected to soar past 1,600 on Wednesday, when Milton was forecast to come ashore along Florida’s central Gulf coast. The bulk of those cancellations are in Florida.
States sue TikTok, claiming its platform is addictive, harms mental health of children
At the heart of each lawsuit is the TikTok algorithm, which powers what users see on the platform by populating the app’s main “For You” feed with content tailored to people’s interests.
IndyCar partners with Cowboys, Rangers for street race in Texas
IndyCar will return to Texas in 2026 with a street race in Arlington in a joint venture between the Dallas Cowboys and the official events partner of the Texas Rangers.
NCAA’s $2.78B settlement with colleges over athlete payments gets preliminary approval
U.S. District Judge Claudia Wilken released an order setting a timeline for a deal that would put millions of dollars into the pockets of college athletes.
Judge orders Google to open Android app store to competition
The court-mandated overhaul is meant to prevent Google from walling off competition in the Android app market.
U.S. adds robust 254,000 jobs as unemployment dips to 4.1%
Given Friday’s stronger-than-expected hiring report, economists say the Fed will almost certainly cut its benchmark rate in November by a modest quarter-point, after its larger-than-usual half-point reduction in September.
Big Ten chief says league ‘positive’ about expanding NCAA hoops tourneys
The Indianapolis-based NCAA presented a plan to Division I conference commissioners that would expand the lucrative men’s and women’s basketball tournaments by four or eight teams alongside an option to leave each field at 68.
Dockworkers’ union to suspend strike until Jan. 15 to allow time to negotiate
The agreement affects about 45,000 striking U.S. dockworkers at 36 ports stretching from Maine to Texas that handle about half the cargo from ships coming into and out of the United States.