Lawmakers want to crack down on “junk fees,” but restaurants are trying to stay out of the fight. Surcharges or fees covering everything from credit card processing to gratuities to “inflation” have become more popular…
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Business
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Business
Increased sausage demand may be a red flag for the economy, Dallas Fed survey says
by adminAn uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high prices. There’s been “modest growth” in the dinner sausage category for one producer, according…
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At least 551 people were likely sickened by cucumbers tainted with Salmonella bacteria, the U.S. Centers for Disease Control and Prevention said — with 155 hospitalized. But in an update posted Thursday, the CDC declared the…
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Business
Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage
by adminMicrosoft said Friday it will hold a conference in September for cybersecurity firms to discuss ways the industry can evolve following a faulty CrowdStrike software update that caused millions of Windows computers to crash in July. The incident…
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Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. At a speech during…
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Business
How investors can prepare for lower interest rates: It’s ‘like getting a haircut,’ advisor says
by adminFederal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September,…
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Business
July home sales break a four-month losing streak as supply rises nearly 20% over last year
by adminClosed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain…
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Business
Paramount special committee extends Skydance ‘go shop’ period as it reviews Bronfman offer
by adminThe future of Paramount Global is still uncertain. Paramount’s special committee on Wednesday said it would extend by 15 days an agreed-upon “go shop” period of its merger agreement with Skydance as it reviews a competing offer from Edgar…
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Peloton on Thursday said it will start charging new subscribers a one-time $95 activation fee if they bought their hardware on the secondary market as more consumers snag lightly used equipment for a fraction of the typical retail…
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Business
Philadelphia Fed President Patrick Harker advocates for interest rate cut in September
by adminPhiladelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September. Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave…