A customer shops for shirts at an American Eagle Outfitters store in San Francisco. David Paul Morris | Bloomberg | Getty Images Excess inventory has racked up in many retailers’ warehouses and stores. But shoppers are still paying more as they refresh the closet. Apparel prices rose 0.8% in June compared to May, and 5.2%
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Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Crypto
About 70% of Americans consider themselves middle class, according to a 2017 study by Northwestern Mutual. But according to most economists’ definitions, that’s not possible. One of the ways the Brookings Institution defines “middle class” is those in the 20th to 80th percentiles of household income. This would make 60% of American households middle class. The
Getty Images Inflation has continued to rise, but some retirees won’t feel the brunt of many soaring costs, experts say. Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, the U.S. Department of Labor reported on Wednesday. Higher prices have many worried, even those earning six figures. Some 65%
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A “For Sale” sign in Crockett, California, on Tuesday, June 14, 2022. David Paul Morris | Bloomberg | Getty Images As consumers worry more about inflation, fewer are buying homes — and if they are, they’re buying less expensive homes. Mortgage demand fell last week compared with the previous week, and the average loan size
You’ve heard the term capital gains tax. But what is that exactly? Is that something you pay? If so, when? Whenever you sell something — a house, car, company stock, or even gold or silver coins — you typically either make or lose money on the investment. That’s also referred to as a gain or
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In this article DAL An Airbus A330-323 aircraft, operated by Delta Air Lines. Benoit Tessier | Reuters Delta Air Lines on Wednesday reported a quarterly profit thanks to travelers willing to pay up to fly, more than making up for higher costs. The carrier also vowed to improve reliability after an increase in delays and
In this article SAVE ULCC JBLU Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines has delayed a vote on its planned tie-up with Frontier Airlines for a fourth time as concerns mount about a
In this article NVAX U SNAP DAL TWTR SFIX Check out the companies making headlines before the bell: Delta Air Lines (DAL) – Delta shares slid 2.9% in the premarket after reporting a mixed quarter. The airline earned an adjusted $1.44 per share for the second quarter, shy of the $1.73 consensus estimate. Revenue exceeded
When he’s not pontificating about missions to Mars, self-driving cars and freedom of speech on Twitter, Elon Musk has some surprisingly practical career advice for young people. On a December 2021 episode of the “Lex Fridman Podcast,” hosted by MIT computer scientist Lex Fridman, the Tesla and SpaceX CEO recommended that young people should never
Grocery shopping in Rosemead, California on April 21, 2022. Frederic J. Brown | Afp | Getty Images Inflation jumped to a new 40-year high in June, the U.S. Bureau of Labor Statistics reported Wednesday. That means the prices Americans pay at the gas pump, grocery store and elsewhere have been rising much faster than normal this year. That
Saul Loeb | AFP | Getty Images If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage
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Key Findings Over the past two years, a wave of tax reform has swept the country, with a historic number of states improving their tax competitiveness by reducing income tax rates and enacting flatter structures. Since 2019, Wisconsin has made improvements to its three lowest marginal individual income tax rates, but its top marginal rate
In this article TWTR SpaceX founder Elon Musk reacts at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2019. Mike Blake | Reuters After
Miniso opened its first flagship store in New York City’s SoHo in February 2022. Miniso BEIJING — Some Chinese consumer brands are looking for growth overseas, in markets like the U.S. and Southeast Asia. Take Miniso, a Guangdong-based seller of toys and household products. Sometimes called China’s Muji, Miniso opened a flagship store in New
A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this
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