The recent sharp stock-market selloff has sparked fears of a looming recession, particularly after the S&P 500 index experienced its worst loss in almost two years. Weaker-than-expected job data fueled concerns about the stability of the U.S. economy and the Federal Reserve’s approach to handling inflation. A “soft landing,” where inflation remains controlled without triggering
App
The Social Security Administration is currently grappling with a monumental backlog of open cases, which has resulted in an estimated $1.1 billion in improper payments to beneficiaries. This crisis, highlighted in a recent report from the SSA Office of the Inspector General, has shed light on the inefficiencies plaguing the agency‘s operations and programs. The
Blink Fitness, a popular budget-friendly gym chain owned by Equinox Group, has taken a major hit by filing for Chapter 11 bankruptcy protection. With over 100 fitness centers across the United States, this move marks a significant step for the company in light of the ongoing challenges posed by the pandemic. Following in the footsteps
Despite the remarkable strength of the U.S. economy amidst persistent inflation and high interest rates, a surprising 59% of Americans believe that the country is currently in a recession. According to a recent survey conducted by Affirm in June, most respondents pointed to higher costs and difficulty in making ends meet as a reason for
General Motors recently introduced the redesigned versions of its entry-level GMC Terrain crossover, showcasing a more rugged exterior design. The updated compact crossover now exudes a more modern and stylish appearance, appealing to a broader range of consumers. The new design elements are aimed at attracting customers who prioritize aesthetics and functionality in their vehicles.
The days of relying solely on satellite dishes for TV services are long gone, and DirecTV is making sure consumers know it. The company, traditionally known for its satellite TV bundle, is pivoting to emphasize its streaming capabilities, aiming to adapt to the evolving media landscape and please modern consumers. With the rise of streaming
Restaurant CEOs are currently fixated on the concept of “value” as a primary explanation for their recent sales slumps. This term has been repeatedly emphasized in various quarterly conference calls, showcasing the industry’s intense focus on providing affordable options for consumers. From leaders at McDonald’s to Papa John’s, the use of the word “value” has
Mega events like the Olympic Games and major concerts have a significant impact on consumer prices in terms of hotel bookings, airline tickets, and other goods and services. However, according to UBS, most French consumers are unlikely to feel the pinch of these price surges despite the surge in demand for accommodations and other services.
David Zaslav, the Chief Executive Officer of Warner Bros. Discovery, finds himself in a precarious position. Since the merger of Discovery with WarnerMedia in 2022, Zaslav has faced challenges in convincing shareholders of the company’s financial worth. The shares of Warner Bros. Discovery have plummeted by approximately 70% since the completion of the merger, indicating
As the market anxiously watches the Federal Reserve’s every move, the central bank finds itself at a critical juncture. Chair Jerome Powell and his colleagues are facing mounting pressure to navigate the economy through turbulent waters, with the looming specter of a recession casting a shadow over their decisions. The recent volatility in Wall Street