Federal prosecutors are digging into internal practices at Block, the financial technology firm launched by Twitter co-founder Jack Dorsey, discussing with a former employee alleged widespread and yearslong compliance lapses at the company’s two main…
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Business
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Trump Media shares climbed nearly 7% Tuesday, continuing a rise that has seen the Truth Social owner surge about 50% in the past week. DJT closed the trading day at roughly $50 a share, about 30%…
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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
Trump tariffs, tax cuts and interest rates likely to fuel inflation, Wall Street and economists agree
Former President Donald Trump is building a second-term economic agenda that analysts say could reheat the very inflation that he has slammed President Joe Biden for creating. “I call it a ring around the country. We have a ring around the…
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Business
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s
It’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
Private payrolls increased by 192,000 in April, more than expected for resilient labor market
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. The payrolls processing firm reported Wednesday that companies added…
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Business
Amazon says more packages are arriving in a day or less after hefty investment in speedy fulfillment
Amazon 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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Business
As home sellers and buyers wait on a Fed cut, here’s how mortgage rates have affected the spring housing market
People 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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Since 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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Walmart 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…