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…
Apple briefly passed Nvidia to become the world’s most valuable company on Friday as the tech titans jostled for the top spot as investors reconsider the outlook for investments in AI. Apple’s market cap topped Nvidia’s early Friday as the latter saw shares slide along with other chipmaker stocks as…
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…
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As anxiety mounts over the projected 2032 depletion of the Social Security Old-Age and Survivors Insurance (OASI) Trust Fund, a…
Meta is expanding its massive data center project in Richland Parish, Louisiana, to 5 gigawatts of compute capacity, making it…
Toyota is investing $3.6 billion to expand its San Antonio, Texas, assembly plant, a move expected to create about 2,000…
BMW is “here for the long game” in the U.S. as it completes a $1.7 billion South Carolina investment and…
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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…
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A California city is weighing a ban on drive-throughs after some residents expressed concern that a proposed In-N-Out could hurt air quality, worsen traffic and create safety issues for pedestrians and cyclists. The City Council in Culver City, California, passed a 45-day moratorium last month to prohibit permits for new…
Kia is issuing a new recall of more than 460,000 vehicles over a fire risk after an earlier recall affecting the same vehicles failed to resolve the problem, according to federal regulators. The recall affects 462,869 Kia Telluride vehicles from the model years 2020-2024, the National Highway Traffic Safety Administration…
Mortgage rates moved slightly higher this week but have remained relatively steady in recent weeks, mortgage buyer Freddie Mac said on Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average interest rate on the benchmark 30-year fixed mortgage rose to 6.49%, up from last week’s reading…
San Francisco pet owners are set to lose access to one of the pet care industry’s biggest brands with the upcoming closure of the city’s lone PetSmart location. PetSmart’s store located in the City Center shopping center on Geary Blvd. is set to close on July 19, according to a…
Costco rolled out a new change to its payment system, allowing customers to use their phones to make checkout times faster. The warehouse club has expanded its digital wallet feature that now enables members to link any Visa card to the Costco app and use their phones during checkout.”Costco is…
The artificial intelligence (AI) boom is causing a fierce bidding war for some luxury homes in the San Francisco Bay Area, with dozens of homes selling more than $1 million above asking price last month. Mike Simonsen, chief economist at Compass International Holdings, noted in a post on X citing…
Federal Reserve policymakers are increasingly concerned about inflation, and the uncertainty about the direction it may take was reflected in the minutes of the Fed’s latest monetary policy meeting released on Wednesday. The central bank’s first monetary policy meeting under the leadership of Fed Chair Kevin Warsh occurred against the…
Honda is recalling more than 325,000 vehicles over faulty rearview image displays, which could increase the risk of a crash, according to federal regulators. The recall affects 2018-2020 Odyssey vehicles, the National Highway Traffic Safety Administration (NHTSA) announced on Wednesday.A total of 325,588 vehicles are covered by the recall effort.…
The state of Oregon’s utility regulator is implementing a new rule starting Wednesday that will raise the electricity bills of data centers and other large energy users to allow lower rates for other customers. The Oregon Public Utility Commission (PUC) approved updated electricity rates for data centers and other residential…
SpaceX has been fast-tracked into the Nasdaq-100 Index, meaning the stock performance of Elon Musk’s rocket company is now directly tied to the retirement accounts, mutual funds and portfolios of millions of everyday American investors. But self-proclaimed market “permabear” and GMO co-founder Jeremy Grantham is heavily skeptical of the company’s…
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