Retail sales in the U.S. increased by 0.4% in October, indicating resilience in consumer spending as the holiday shopping season approaches. The …
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Consumer spending
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Business
McDonald’s Misses Q2 Estimates as Consumers Pull Back on Spending
by Sonia Parkby Sonia ParkMcDonald’s reports a disappointing second-quarter earnings result, revealing that its revenue fell short of expectations. The fast-food giant recorded just under $6.5 …
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World
World Bank Upgrades Global Economic Outlook, Credits “Impressive” U.S. Economy
by Sonia Parkby Sonia ParkThe World Bank has upgraded its outlook for the global economy, citing the “impressive” performance of the U.S. economy as a key …
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Business
Craft Retailer Joann Files for Bankruptcy Amid Economic Challenges
by Sonia Parkby Sonia ParkJoann, a well-known fabric and craft retailer with over eight decades of history, has filed for bankruptcy, signaling economic challenges faced by …
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Business
Nike Initiates Workforce Reduction: Over 1,600 Jobs Affected in Cost-Cutting Measure
by Sonia Parkby Sonia ParkAthletic apparel giant Nike has officially commenced layoffs, revealing plans to reduce its workforce by two percent, translating to over 1,600 jobs. …
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Business
Jobs Boom Continues: Private Sector Adds Momentum as 2023 Ends with Hiring Spree
by Sonia Parkby Sonia ParkThe U.S. economy closed out 2023 on a strong note,