UPDATE: Kroger to acquire Albertsons in $24.6B deal
The combination of the nation’s No. 2 and No. 4 grocery chains is likely to face a lengthy antitrust review with an uncertain outcome.
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Rents accelerate most since 1990, keeping U.S. cost of living high
Overall shelter costs in the United States saw their biggest year-over-year increase since 1982.
Core U.S. inflation rises to 40-year high, likely securing big Fed hike
The report stresses how high inflation has broadened across the economy, eroding Americans’ paychecks and forcing many to rely on savings and credit cards to keep up.
U.S. producer price growth tops forecasts, keeping pressure on Fed
Prices paid to U.S. producers rose in September by more than expected, suggesting inflationary pressures will take time to moderate and keeping the Federal Reserve on its aggressive interest rate-hike path.
Screening procedure fails to prevent colon cancer deaths, large study finds
A 10-year study by researchers from Poland, Norway and Sweden published in the New England Journal of Medicine questions the benefits of colonoscopy screening exams.
U.S. jobless claims rise by more-than-expected 219,000
The pickup in claims—if sustained—would suggest lackluster spending in various sectors and uncertainty about the economy’s prospects are prompting some businesses to lay off workers.
Amazon plans to hire 150,000 workers for holiday season
Amazon.com plans about the same number of seasonal workers as last year despite slowing sales and predictions of a lackluster holiday shopping season.
U.S. job openings drop to 10.1M, lowest since June 2021
U.S. job openings plummeted in August, likely a welcome sign for Federal Reserve officials as they seek to cool demand for workers without triggering a spike in unemployment.
Retailers still have a lot of extra stuff that shoppers don’t want
The inventory glut that dragged down U.S. retailers over the past two quarters is likely getting worse. For shoppers, that means better deals.
Americans planning fall travel despite higher costs ahead
U.S. travel optimism is running high, despite chaotic, expensive, and frustrating service over the summer.
U.S. jobless claims fall unexpectedly to lowest since late April
Applications for U.S. unemployment insurance dropped unexpectedly to a five-month low, suggesting robust demand for workers amid economic uncertainty.
More companies than ever are sharing how much jobs pay
Even in places where it’s not required, employers have started listing pay information on job ads as candidates and employees demand transparency in the name of fairness.
U.S. consumer confidence rises for second month
A strong job market and lower gas prices appear to be contributing to more optimistic views of the economy. But inflation and rising interest rates both threaten Americans’ propensity to spend.
You don’t have to own a home to go solar; some renters have an option, too
Twenty-one states and the District of Columbia allow community solar projects. Indiana is not one of them, according to the EPA.
U.S. business activity gauge improves, but still shows contraction
The improvement in bookings suggests demand is holding up yet remains tenuous as customers of service providers adjust to still-elevated prices and higher interest rates.
Resurgent bird flu wiping out egg, turkey supplies across America
Inventories of whole turkeys are their lowest levels going into the U.S. winter holiday season since 2006. That means there will be little relief from inflation for Thanksgiving dinner.
U.S. jobless claims fall for a fifth week amid strong labor demand
Jobless claims have been dropping as employers are still trying to fill millions of open positions and retain the workers they already have.
Amazon closes, abandons plans for dozens of U.S. warehouses
During the second quarter, Amazon’s workforce shrank by roughly 100,000 jobs, to 1.52 million, the biggest quarter-to-quarter contraction in the company’s history.
U.S. crop tour stokes fears of looming corn shortage
A poor U.S. harvest will likely exacerbate the food inflation that’s already been gripping the world.
IRS to wipe away $1.2 billion in late fees from pandemic
The IRS estimates that nearly 1.6 million taxpayers will receive more than $1.2 billion worth of penalty relief. The tax agency will automatically issue the refunds or credits for most of the fees by the end of September.