NEW YORK (AP) — If you’ve noticed that you’re paying more than before for the same amount of groceries, you’re not the only one. Inflation is easing, but grocery prices are still high — up 21%, on average, since inflation started to surge more than three years ago. Unlike some ...
WASHINGTON (AP) — Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department ...
Home Depot’s second-quarter sales rose slightly as the nation’s biggest home improvement retailer benefitted from an $18 billion acquisition this spring, but customers continued to rein in spending because of broadly higher costs and elevated interest rates. Sales edged up to $43.18 billion, from $42.92 billion, beating the $42.57 billion that Wall Street had expected, according to a poll by Zacks Investment Research. The quarterly performance was an improvement thanks in part to the acquisition of contract supplier SRS Distribution, which contributed $1.3 billion to Home ...
WASHINGTON (AP) — Two years ago, Pfizer was the envy of the pharmaceutical world, with more than $100 billion in annual sales from its COVID-19 vaccine and antiviral Paxlovid. Today, CEO Albert Bourla is trying to turn the page from that success story, which has turned into more of a financial headache for the global drugmaker. Lofty expectations for continuing sales of vaccines and antivirals have fallen short, sending Pfizer’s stock price tumbling to about half of its peak during the pandemic. Bourla has responded with a $4 billion cost-cutting effort, including layoffs, and ...
WASHINGTON (AP) — It was billed as the “biggest ever economic development project” in north Michigan when Gov. Gretchen Whitmer in 2022 welcomed a Chinese lithium-ion battery company’s plan to build a $2.36 billion factory and bring a couple thousand jobs to Big Rapids. But now the ...
BANGKOK (AP) — The mayhem that swept across world markets this week was partly caused by a market strategy known as the “carry trade.” Japan’s benchmark Nikkei 225 plunged 12.4% on Monday and markets in Europe and North America suffered outsized losses as traders sold stocks to help ...
