Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is …
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Business
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s
by adminIt’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it …
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Business
Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives
by adminParamount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed the corporate ladder after joining Viacom in 1997, until he became CEO of the company in …
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Business
As home sellers and buyers wait on a Fed cut, here’s how mortgage rates have affected the spring housing market
by adminPeople looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via …
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Affluent Americans are driving U.S. economy and likely delaying need for Fed rate cuts
by adminSince retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science …
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Business
Amazon says more packages are arriving in a day or less after hefty investment in speedy fulfillment
by adminAmazon says it is getting even more packages to customers in one day or sooner, a metric the e-retailer is promoting to customers as it faces heightened competition in online shopping. The company said on Monday …
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Walmart will close all 51 of its doctor-staffed health clinics as part of an announcement that its Walmart Health initiative is shutting down. The clinics, located in Arkansas, Florida, Georgia, Illinois and Texas, had been …
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McDonald’s reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales. The company also continues to see consumers worldwide pull back on their restaurant spending. “Consumers continue to be …
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Business
Walmart launches new grocery brand as it tries to hang on to inflation-fueled growth
by adminWalmart is debuting a new grocery brand, as the discounter tries to retain the shoppers it has attracted during a period of high inflation. On Tuesday, the big-box retailer said it will roll out a private …
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Business
JPMorgan CEO Jamie Dimon hopes for soft landing for U.S. economy but says stagflation is possible
by adminJPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated …