Federal 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, …
Business
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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
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 …
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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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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
Walz’s family relied on Social Security when his father died. Many don’t know kids are eligible for benefits.
by adminMinnesota Gov. Tim Walz accepted the Democratic vice presidential nomination at the Democratic National Convention on Wednesday night. In his speech, Walz credited a particular source of support for helping to get his family to where they …
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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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Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, but stopped short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” of participants …
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DETROIT — Ford Motor is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV, the company said Wednesday. Instead, Ford said it will prioritize …
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There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating …