Inflation just fell when rate hikes were paused. So why should the Fed keep hiking?
Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department.
2023-07-13 03:52
What is flood insurance, and why do you need it?
Highlands, New York, was underwater and under a state of emergency as devastating floods swept the area this weekend. Gov. Kathy Hochul warned of "life-threatening flooding," and nearby West Point saw a 1-in-1000-year rainfall on Sunday afternoon, totaling nearly eight inches in six hours. Some drivers swam out of their cars to safety, and 13,000 homes lost power.
2023-07-13 02:30
Will cooling inflation help sell Bidenomics?
This weird post-pandemic, inflation-addled economy has been scrambling preconceived notions for years. And it is with that background that anyone should read this unquestionably good economic news: Inflation is unquestionably cooling.
2023-07-13 01:52
Every Buybuy Baby store is closing after bankruptcy deal falls through
On Tuesday, a judge approved the sale of Buybuy Baby's intellectual property for $15.5 million to Dream on Me industries, a New Jersey-based designer and supplier of baby products. Buybuy Baby's 120 stores will close.
2023-07-13 01:21
Exclusive: Energy Secretary vows to 100% refill emergency oil stockpile — but warns that won't happen before a second Biden term
America's emergency oil stockpiles have plunged to 40-year lows under President Joe Biden as US officials have sought to cushion consumers from high gas prices.
2023-07-12 23:57
Domino's Pizza inks a delivery deal with Uber Eats
Domino's Pizza has long been a holdout of using third-party delivery apps in the United States. But now, the pizza chain has struck a deal with one of the world's largest food delivery services.
2023-07-12 20:55
This CEO replaced 90% of support staff with an AI chatbot
The chief executive of an Indian startup laid off 90% of his support staff after the firm built a chatbot powered by artificial intelligence that he says can handle customer queries much faster than his employees.
2023-07-12 20:46
Fine wine is souring as investment prices sink
Fine wine prices have been rising consistently for years, attracting investors looking to hedge against inflation, economic turmoil and stocks. Recently, the barrier to entry in the wine-as-an-investment market has fallen drastically, with a number of easy-access online brokerages and advisories popping up.
2023-07-12 20:17
An Indian culinary must-have is off the menu as prices jump 400%
From butter chicken to paneer makhani, Indian cuisine is unthinkable without the ubiquitous tomato.
2023-07-12 19:56
Back-to-school spending is forecast to drop 10% as inflation bites
Shopping for back-to-school essentials, such as clothes, shoes and electronics, will be a bigger struggle for families this year who are trying to manage their household budgets with less disposable incomes because of inflation.
2023-07-12 19:50
Farmers Insurance pulls out of Florida, affecting 100,000 policyholders
Farmers Insurance will stop offering its policies in Florida, which includes home, auto and umbrella, in a change that will affect 100,000 people.
2023-07-12 19:46
Edmunds: 5 hidden automotive gems that no one buys
In the new car market, there exist some hidden gems — excellent vehicles with a lot to offer that are overlooked by many shoppers
2023-07-12 18:48