Pharmacy chain Rite Aid closed all of its locations after filing for bankruptcy twice in less than two years. The retailer posted a brief announcement on its website.”All Rite Aid stores have now closed,” the site states. “We thank our loyal customers for their many years of support.” The website…
I saw a lot of socialist experiments in Latin America and the results weren’t pretty. If Americans want to see how badly socialism works, they don’t have to go far. Beginning with Cuba’s Fidel Castro in 1959, socialism has a dismal history of failure throughout this hemisphere. While socialist revolutionaries…
A recently completed stock deal saw OpenAI’s valuation surge to $500 billion and become the world’s most valuable private company, according to a report. Current and former OpenAI employees sold about $6.6 billion in shares to a consortium of investors that included Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX…
Federal investigators are examining a crash in which two Amazon Prime Air delivery drones struck a construction crane in Tolleson, Arizona, a city west of Phoenix, on Wednesday. Tolleson police said the morning crash occurred in a commercial area near 96th Avenue and Roosevelt Street, according to FOX 10 Phoenix.The…
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A partial government shutdown began on Wednesday with Republicans and Democrats at an impasse over spending levels, which has increased uncertainty…
A listeria outbreak affecting certain recalled prepared meals sold at Trader Joe’s and Walmart has led to four deaths as well…
Some of the world’s wealthiest investors are using exchange-traded funds to access commodities, cryptocurrency and artificial intelligence. “We tend to…
A listeria outbreak affecting certain recalled frozen meals sold at Trader Joe’s and Walmart has led to four deaths as well…
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Mortgage rates rose this week, 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 increased to 6.34% from last week’s reading of 6.3%. The average rate on a 30-year loan…
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If you’ve flipped through the real-estate pages lately – or just tried to pull up Redfin or Zillow – something’s glaringly obvious. Nobody’s moving and nobody’s buying homes right now. Recently, I took a glance on Zillow at one of the hottest markets in Florida, which is Route 30A in the panhandle. Where it was once almost impossible to see a red dot of something…
The minutes of the Federal Reserve’s July meeting released on Wednesday showed that policymakers were more concerned about the risk of inflation from the impact of tariffs than the labor market as they debated interest rate policy. The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions,…
President Donald Trump on Wednesday called for the resignation of a Federal Reserve governor after one of his allies submitted a referral requesting that she be investigated for mortgage fraud. Federal Housing and Finance Agency (FHFA) Director Bill Pulte on Wednesday posted a copy of a referral he sent to…
Federal Reserve Chair Jerome Powell will deliver a keynote address at the annual Jackson Hole event on Friday at a crucial time as the economy anticipates the central bank’s next interest rate cut and as his tenure at the helm of the Fed winds down. Powell’s speech in the spotlight at…
Treasury Secretary Scott Bessent said Tuesday that the Trump administration will begin its interview process for prospective nominees to serve as chair of the Federal Reserve after Labor Day. Bessent was interviewed on CNBC’s “Squawk Box” and said that there are currently 11 candidates under consideration for the role, including a group…
Intel shares rose Tuesday after Softbank announced it will invest $2 billion in the chipmaker. Ticker Security Last Change Change % INTC INTEL CORP. 25.23 +1.57 +6.66% “We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology…
Air Canada’s flight attendant union reached a tentative agreement with the airline, paving the way for flights to resume after striking members defied a government order to return to work, forcing a temporary shutdown of operations. “We have a tentative agreement we will bring forward to you,” the Canadian Union…
The White House may be ready to take a 10% stake in Intel, fueling ongoing speculation an investment is being hammered out, according to Bloomberg. The move would shore up national security and advance more chipmaking in the U.S. vs. Asia and other nations. Ticker Security Last Change Change % INTC…
The Trump administration on Friday announced that it will review state laws that have a negative impact on the broader U.S. economy and interstate commerce to address those impacts. On Friday, the Justice Department and National Economic Council (NEC) said the effort will focus on identifying state laws that “significantly and adversely…
A key Trump administration trade advisor warned in an op-ed on Monday that India needs to stop buying oil from Russia, arguing the purchases are helping finance Russia’s war against Ukraine. White House trade advisor Peter Navarro wrote in the Financial Times on Monday that India is “cozying up to both Russia…
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