Americans are kicking the can down the road on some more-costly, traditionally financed purchases as elevated inflation and interest rates bite. Corporate executives this earnings season have lamented that customers are disinterested in shelling out…
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Business
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The Dow Jones Industrial Average reached a milestone Thursday that seemed unfathomable a year ago. A trader at the New York Stock Exchange on Thursday, May 16, 2024, as the DOW reached 40,000.Courtney Crow / NYSE The…
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As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices between Fremont and Palo Alto. The…
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Workers at two Mercedes-Benz factories in Alabama have voted against joining the United Auto Workers, the largest autoworkers union in the U.S., a blow to an effort to strengthen the presence of organized labor in…
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Passing major milestones such as the 40,000 barrier the Dow Jones Industrial Average eclipsed this week makes for a nice headline, but market experts do not take much else from the move. What really matters…
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What retail apocalypse? Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. In an ironic twist for a…
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Business
The Mirage casino, which ushered in an era of Las Vegas Strip megaresorts in the ’90s, is closing
LAS VEGAS — The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, the end of an era for a property credited with helping transform Sin City into an ultra-luxury…
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Business
Under Armour is laying off workers as retailer says North America sales will plunge this year
Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel…
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Business
Rent up, groceries down: Inflation cooled slightly in April, but consumers still face a mixed bag
The consumer price index, the most-watched inflation measurement put out by the U.S. government, declined slightly to 3.4% on a 12-month basis in April as price growth in the economy remained elevated. Compared with March,…
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Business
Tesla’s Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000
Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car, the L60 SUV, are set to begin…