Anheuser-Busch, the maker of Bud Light, confirmed this week is laying off hundreds of positions across its U.S. corporate staff after a crushing boycott from conservatives has sent sales of the beer to a startling low. In a statement to The Associated Press, the beer maker said the layoffs will… Read More
Grimace campaign that went weirdly viral fuels McDonald’s Q2
McDonald’s is grinning thanks to Grimace after a marketing campaign to celebrate the “birthday” of its big purple mascot went viral and contributed to surprisingly strong second quarter sales. Global same-store sales, or sales at stores open at least a year, rose nearly 12% in the April-June period. That handily… Read More
Average long-term US mortgage rate inches above 6.8%
The average long-term U.S. mortgage rate ticked back up this week, remaining a barrier for Americans trying to upgrade or buy their first home. The average rate on the benchmark 30-year home loan rose to 6.81% this week from 6.78% last week, which was the lowest level in a month,… Read More
Federal Reserve raises rates by 0.25%, the 11th hike in 17 months
The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession. The move lifted the Fed’s benchmark short-term rate from roughly… Read More
UPS reaches tentative deal with 340,000 workers, potentially dodging strike
UPS has reached a tentative contract agreement with its 340,000-person strong union, potentially averting a strike that threatened to disrupt logistics nationwide for businesses and households alike. The agreement was announced after UPS and the Teamsters came back to the negotiating table Tuesday to talk over remaining sticking points in… Read More
Mega Millions jackpot to reach $820 million for Tuesday night jackpot
Lottery players will have a shot at an estimated $820 million Mega Millions jackpot Tuesday night, less than a week after someone hit a Powerball prize that topped $1 billion. The huge Mega Millions jackpot is the eighth-largest U.S. lottery prize and follows a $1.08 billion prize won by a… Read More
Movie theater’s plan to charge more for good seats, less for the front row, falls flat
Movie theater operator AMC has ditched plans to charge more seats for seats with better sightlines after rival chains did not follow along. AMC began the pilot program five months ago in three U.S. markets where it said it charged slightly more for better seats, and less for those in… Read More
Elon Musk rebrands Twitter as ‘X’ on Monday
Elon Musk has unveiled a new black and white “X” logo to replace Twitter’s famous blue bird as he follows through with a major rebranding of the social media platform he bought for $44 billion last year. Musk replaced his own Twitter icon with a white X on a black… Read More
‘Barbie’ and ‘Oppenheimer’ break box office records over the weekend
“ Barbenheimer ” didn’t just work – it spun box office gold. The social media-fueled fusion of Greta Gerwig’s “ Barbie ” and Christopher Nolan’s “ Oppenheimer ” brought moviegoers back to the theaters in record numbers this weekend, vastly outperforming projections and giving a glimmer of hope to the… Read More
This stock is no longer a best buy in A.I.
Would you invest in something that didn’t pay you back for a century? I wouldn’t. Every time I gamble on a hot stock that has run up, I’m late to the party and I lose money. That’s why I’m steering clear of Nvidia (NVDA) now. Its shares are trading for… Read More
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