Albertsons lowered its fiscal 2026 sales and earnings outlook Thursday after weaker grocery demand and a more cautious consumer weighed on its first-quarter performance. The grocery chain now expects identical sales to decline between 0.5% and 1.5% for the full fiscal year, compared with its previous forecast of flat sales…
Mortgage rates rose again this week and reached the highest level in nearly a year, mortgage buyer Freddie Mac said on Thursday. Freddie Mac’s latest Primary Mortgage Market Survey showed the average interest rate on the benchmark 30-year fixed mortgage rose to 6.58% this week, up from 6.55% last week.This…
Ford is planning to integrate Apple software into its next-generation fleet of electric vehicles, which will in turn help power hands-free driving technology. Apple and Ford announced Thursday that Apple Maps will be included in the automakers’ new Universal Electric Vehicle (UEV) platform through the use of Apple’s MapKit for…
Fidelity Investments released its 25th annual estimate of retiree healthcare costs, which revealed a significant jump from a year ago as medical care and related expenses become more expensive. The report estimated that a 65-year-old who retires in 2026 can expect to spend an average of $185,500 on healthcare and…
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ARK Invest CEO Cathie Wood is defending her fund’s stake in SpaceX, declaring the aerospace and satellite network pioneer could…
Icahn Enterprises on Tuesday announced that the company reached a deal to sell Pep Boys to Mavis, one of the…
Nvidia has held the position as the world’s biggest company since about a year ago, when it became the first…
Student loan defaults are up to a record high, with 9.5 million borrowers in default, meaning they are more than…
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Ford is recalling nearly 388,000 SUVs because an issue with the second-row easy-entry seats could increase the risk of injury, according to federal regulators. A total of 387,911 vehicles are affected, including certain 2020-2026 Ford Explorer and 2020-2027 Lincoln Aviator models, the National Highway Traffic…
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Mars Wrigley signaled it will lay off hundreds of workers as it relocates its headquarters from Newark, New Jersey, to an expanded facility in Chicago. The company on Friday submitted a WARN filing with the state of New Jersey that indicated it will eliminate 307 jobs at its Newark headquarters…
The World Cup is helping to boost consumer spending around the U.S. in June, with host cities seeing notable gains, according to new data from Bank of America. The Bank of America Institute found that consumer spending using credit and debit cards rose 6.3% from a year ago in June…
The IRS this week announced changes in the amount that taxpayers may deduct in gas used per mile while operating a vehicle for business for the remainder of the year amid higher gas prices. The tax collection agency noted that the change “results from recent increases in the price of…
close video Mortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% — the highest level since August 2025…
JPMorgan Chase CEO Jamie Dimon on Wednesday said there is still a lot of uncertainty over how AI will impact the workforce and people shouldn’t be “breathless” in their concerns as new technologies have historically created new jobs. Dimon said in a conversation with Sen. Dave McCormick, R-Pa., at the…
BMW is recalling nearly 30,000 vehicles over an engine starter issue that could pose a fire risk, according to federal regulators. The recall affects 29,119 plug-in hybrid sedans, including 2018-2020 BMW 530e xDrive, 2018-2020 BMW 530e iPerformance, 2017-2019 BMW 740Le xDrive and 2016-2018 BMW 330e iPerformance vehicles.According to the National Highway…
Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) in 2027 amid persistently high inflation this year, a new report finds. An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.8%, or 1 percentage point higher than the 2026 COLA of…
California consumers could soon see higher grocery bills as the state begins implementing a sweeping packaging law that shifts recycling costs from taxpayers to manufacturers – expenses some businesses warn could eventually be passed on to shoppers. Beginning next month, California will start collecting preliminary fees under the state’s Plastic…
JPMorgan Chase Chairman and CEO Jamie Dimon is validating the growing frustration of working-class Americans, admitting in a recent interview that he completely understands why many have grown “anti-rich.” The Wall Street billionaire argued that decades of ineffective public policies have left lower-income families behind in struggling rural areas and…
Federal Reserve Chair Kevin Warsh on Tuesday told House lawmakers that the central bank’s policymakers have “no tolerance for persistently elevated inflation” in his first testimony as Fed chief. Warsh said in his prepared testimony for the House Financial Services Committee that concerns about inflation influenced the Fed’s decision to hold the…
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