Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled…
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Business
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Trader Joe’s is recalling 653,000 scented candles because they pose an elevated fire hazard. In a release on the Consumer Product Safety Commission’s website posted Thursday, Trader Joe’s said the flame on its Mango Tangerine…
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United Airlines CEO Scott Kirby says he is optimistic about Boeing’s recovery after meeting with the manufacturer’s new chief executive. It’s an upbeat change of tune from the head of United, a top Boeing customer that has been…
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WASHINGTON — Vice President Kamala Harris plans to propose the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” her campaign announced late Wednesday. “There’s a big difference between fair pricing in competitive markets,…
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Walmart remains cautious about the financial health of its shoppers, but executives at the retail giant do not see a full-blown downturn on the horizon. In an interview with CNBC, Walmart Chief Financial Officer John…
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Business
FTC bans fake online reviews, inflated social media influence; rule takes effect in October
The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, like those generated with AI technology, and other misleading practices to promote their products and services. All five FTC commissioners voted to adopt the…
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Business
Mortgage refinancing surges 35% in one week as interest rates hit lowest level in over a year
It appears to have taken a few weeks for current homeowners to realize mortgage rates had dropped dramatically. And when they did, they acted. Applications to refinance a home loan surged 35% last week, compared with the…
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Grocery price growth, once the scourge of the post-pandemic inflation surge, has finally settled down. On Wednesday, the Bureau of Labor Statistics reported that food-at-home prices increased 1.1% year-on-year — the ninth-straight month of sub-2%…
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Consumer price growth in July slowed to its lowest post-pandemic level, a sign that the surging inflation that has gripped the U.S. economy is finally ebbing. On a 12-month basis, the Consumer Price Index (CPI)…
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Business
Some experts have raised the odds of a recession. Here’s how much you should have in emergency savings.
As investors face economic uncertainty, financial advisors have guidelines for how much cash they should have set aside. Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession, according to a June survey…