Government's Onion Price Fix Raises Questions as Consumers Feel the Pinch
After India extended its export restriction on Friday, onion prices surged beyond Tk 200 per kg in the local market. The commerce ministry is striving to stabilize these prices.
Dec 11, 2023 9:50 AM EST
PGA Tour and Fenway Group Join Forces: More Collaborative Talks on the Horizon
In an effort to fulfill a deadline of December 31, the PGA Tour has limited the pool of possible investors to a new group headed by Fenway Sports Group and announced that it will carry on with talks with Saudi Arabia's national wealth fund.
Macy's Faces Potential Buyout as Investors See Opportunity
According to a source familiar with the situation on Sunday, an investment consortium led by Brigade Capital and Arkhouse Management has made a $5.8 billion bid to take department store operator Macy's private.
How Businesses and Households Can Prepare for a Soft Landing or a Recession
Together with a plethora of other recent economic statistics, the strong hiring indicated in Friday's employment report for November is raising expectations that the U.S. economy will have a "soft landing" next year as opposed to the much-feared recession.
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Amazon Uncovers Massive Fraud Scheme Involving Fake Product Returns
Amazon is taking legal action against an alleged international fraud ring accused of pilfering millions through a scheme that facilitated refunds for pricey items without the need to return them.
Dec 09, 2023 7:33 AM EST
Investors Flee US Stocks as Economic Data Hints at a Possible Downturn
In the tumultuous landscape of U.S. financial markets, the seven days leading up to December 6 unfolded as a continuation of withdrawals from U.S. stock funds for a second consecutive week.
Dec 08, 2023 11:10 AM EST
Inventory Mystery Deepens: Retail Industry Pulls Back on Organized Crime Blame
The largest retail trade association in the country, the National Retail Federation, has updated a study from April that retracted the assertion that organized retail crime is responsible for over half of the industry's overall shrinkage. The survey evaluates total inventory loss, including theft.
Dec 08, 2023 9:25 AM EST
Job Market Sees November Surge, But Underlying Trend Points to a Looming Slump
November saw a significant pick-up in U.S. job growth as thousands of actors and autoworkers returned to the workforce following strikes; nevertheless, the underlying trend is likely to indicate a cooling labor market.
Dec 08, 2023 7:26 AM EST
High-Priced Prescription Drugs Face Patent Revocation Threat from White House
The Biden administration is putting pharmaceutical corporations on notice, telling them that if the price of some pharmaceuticals becomes too high, the government may revoke their patent protection, allowing competitors to produce their own copies.
Dec 07, 2023 9:43 PM EST
Investors Go Gaga for Fine Wine as Global Market Booms
As the French wine region of Beaujolais celebrates the start of a new season, a sign in Villefranche-sur-Saône states, "There are few things in life that can't be enhanced by a fine wine."
Dec 07, 2023 9:10 PM EST
Biden's $4.8 Billion Student Loan Forgiveness Plan Offers New Beginnings for Thousands
On Wednesday, the Biden administration said that it will erase an extra $4.8 billion of 80,300 students' student loan debt.
Dec 07, 2023 8:52 PM EST
Golden Arches Around the Globe: McDonald's Plans Massive Expansion and AI Integration
In what it hopes to be the "fastest period of growth" in its 60-year history, McDonald's aims to create over 10,000 new locations worldwide by 2027, the business announced in a news release on Wednesday.
Dec 07, 2023 10:56 AM EST
China's Shipments Surge After Six-Month Slump, Bringing Relief to Factories
For the first time in six months, China's exports increased in November, indicating that manufacturers in the second-biggest economy in the world are drawing customers with low prices in an effort to recover from a protracted decline in demand.
Dec 07, 2023 6:49 AM EST
CEOs Urge Lawmakers: Pump the Brakes on Regulations, Risk Economic Fallout
The heads of Wall Street's largest banks appeared on Capitol Hill on Wednesday to ask senators to stop the Biden administration's proposed changes to how banks are regulated, warning that the new proposals could harm the economy at a time of geopolitical turmoil and inflation.
Dec 06, 2023 7:29 PM EST
US Consumers Face a Tsunami of High Interest Rates and Mounting Credit Card Debt
Next year, the U.S. economy should be able to escape a recession, but economist Carl Weinberg says one of the biggest dangers to that outcome is a significant decline in consumer spending.
Dec 06, 2023 10:33 AM EST
High-Speed Rail to Connect Vegas and LA Thanks to $3 Billion Grant
The Biden administration pledged $3 billion on Tuesday to assist start constructin track for a planned high speed rail connection between Las Vegas and the Los Angeles area, Nevada elected leaders said.
Dec 05, 2023 9:47 PM EST
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