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The Biden administration on Wednesday said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare. President Joe Biden has made…

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Walgreens plans store closures as CEO says consumers ‘stunned’ by prices

June 28, 2024

Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers. The pharmacy chain on Thursday morning announced quarterly…

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Amazon plans to launch discount store in bid to fend off Temu and Shein

June 27, 2024

Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items that will allow Chinese sellers to ship directly to U.S. consumers, CNBC has learned.…

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Inflation vs. wages: How rising prices stack up against growing pay

June 27, 2024

It’s a key question on voters’ minds heading into Thursday night’s presidential debate: How far does my dollar go in 2024? The short answer: further than they might think. Since…

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Rivian secures up to $5 billion from Volkswagen; shares soar 40%

June 27, 2024

Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes plans…

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Amazon reaches $2 trillion market cap for the first time

June 27, 2024

Amazon shares climbed more than 3% in intraday trading on Wednesday, pushing the company’s market cap past $2 trillion for the first time. In crossing the milestone, Amazon join Nvidia, Apple,…

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The ‘funflation’ effect: Why Americans are spending on travel and entertainment

June 27, 2024

Even while carrying $1.13 trillion in credit card debt, many Americans are still willing to splurge on travel and entertainment. But this summer it will cost even more thanks to “funflation,” a term…

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Tesla’s Cybertruck recalled for a fourth time over two separate parts issues

June 26, 2024

DETROIT (AP) — Tesla is recalling its futuristic new Cybertruck pickup for the fourth time in the U.S. to fix problems with trim pieces that can come loose and front windshield wipers…

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Sixteen Nobel Prize-winning economists warn a second Trump term would ‘reignite’ inflation

June 26, 2024

Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. “While each…

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21 million Miniverse toy sets recalled after reports of burns and respiratory irritation

June 26, 2024

More than 21 million Miniverse “Make It Mini” sets by California toymaker MGA Entertainment are being recalled because of potentially hazardous resins, the Consumer Product Safety Commission reported Tuesday. The…

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Popular Topics

Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers

Walgreens plans store closures as CEO says consumers ‘stunned’ by prices

Amazon plans to launch discount store in bid to fend off Temu and Shein

Inflation vs. wages: How rising prices stack up against growing pay

Rivian secures up to $5 billion from Volkswagen; shares soar 40%

Amazon reaches $2 trillion market cap for the first time

The ‘funflation’ effect: Why Americans are spending on travel and entertainment

Tesla’s Cybertruck recalled for a fourth time over two separate parts issues

Sixteen Nobel Prize-winning economists warn a second Trump term would ‘reignite’ inflation

21 million Miniverse toy sets recalled after reports of burns and respiratory irritation