Frederic J. Brown | AFP | Getty ImagesCredit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs.Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have...
The FED: US Federal Reserve, Washington DCUschools | E+ | Getty ImagesA looming government shutdown could prevent the Federal Reserve from raising rates in November, but not for the reason you might think, according to Bank of America.Not only would the shutdown potentially slow down the economy and make...
The auto workers' strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist.So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy.But it is...
A shopper peruses the meats section of a grocery store on September 12, 2023 in Los Angeles, California. Mario Tama | Getty ImagesInflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately.The producer price index, a measure of what...
A.P. Moller-Maersk, is one of the world's biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade.Andia | UIG via Getty ImagesCopenhagen, DENMARK — Shipping giant Maersk on Thursday presented its first container vessel moved with green methanol, a...
Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items.The consumer price index, which measures costs across a broad variety of goods and services, rose a seasonally adjusted 0.6% for the month, and was up 3.7%...
Choochart Choochaikupt | Istock | Getty ImagesAmerican consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released Monday.Respondents indicating that the ability to get loans, credit cards and mortgages is harder now than...
Taylor Swift performs in Cincinnati, Ohio, June 30, 2023, during her Eras tour.Taylor Hill/tas23 | Getty Images Entertainment | Getty ImagesTaylor Swift is providing a gold rush for the hotel industry.The "Cruel Summer" singer's attention-grabbing "Eras" tour has pushed up revenue for hotels in cities across the U.S., according...
European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax.Stefano Montesi - Corbis | Corbis News | Getty ImagesItaly's shock tax on banks continues to prove controversial, even as the government insists it can improve it.Europe's main bank stock index...
Pixelseffect | E+ | Getty ImagesThe unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate.The overall unemployment rate ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate — a measure...