economy

US economy is an area of the production, distribution and trade, as well as consumption of goods and services by different methods.

FinTech IPO Index Up 3.8% as Lemonade Surges on UK Expansion
FinTech IPO Index Up 3.8% as Lemonade Surges on UK Expansion
July 19, 2024  |  Fintech Investments

Earnings season has yet to start making headlines and moving stocks in the FinTech IPO Index, but the overall group was up 3.8% through the...

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Auto Plant Closures, Hurricane Drive Increase in Initial Unemployment Claims
Auto Plant Closures, Hurricane Drive Increase in Initial Unemployment Claims
July 18, 2024  |  Economy

The number of initial claims for unemployment insurance increased by 20,000 during the week ended Saturday (July 13), driven by temporary closures of automobile plants...

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Synchrony Sees Digital Mix Key to Navigating Uncertain Environment
Synchrony Sees Digital Mix Key to Navigating Uncertain Environment
July 17, 2024  |  Earnings

In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket...

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Credit Card Retail Payments Fall by 18% Amid Budget Pressures
Credit Card Retail Payments Fall by 18% Amid Budget Pressures
July 16, 2024  |  Credit Cards

As consumers continue to face financial pressures, many are shifting away from credit payments for retail purchases, instead playing it safe with debit. By the...

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Bank of America: Consumers Still Have Borrowing Power Left on Their Credit Cards
Bank of America: Consumers Still Have Borrowing Power Left on Their Credit Cards
July 16, 2024  |  Earnings

For Bank of America, digital channels have represented avenues of continued growth, making inroads with credit card spending in particular. According to management, there’s still...

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Save A Lot VP: Consumers Cross-Shop to Stretch Grocery Budgets
Save A Lot VP: Consumers Cross-Shop to Stretch Grocery Budgets
July 16, 2024  |  Retail

Amid ongoing inflation and economic challenges, grocery shoppers are recalibrating their budgeting behaviors to make ends meet. Katie Kobus, vice president of marketing at Save...

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Big-Ticket Retail Sales Take Hit in June
Big-Ticket Retail Sales Take Hit in June
July 16, 2024  |  Consumer Finance

A flat June reading for retail sales can be a tossup in terms of getting a sense of how the consumer is faring. The data...

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Joor CEO: Luxury Shoppers Won’t Buy a $20,000 Coat Online
Joor CEO: Luxury Shoppers Won’t Buy a $20,000 Coat Online
July 16, 2024  |  Retail

As the luxury retail sector looks to strike a balance between digital accessibility and the more immersive, high-touch in-store experience, these upscale brands must create...

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Salesforce Cuts 300 Jobs in Year’s Second Round of Layoffs
Salesforce Cuts 300 Jobs in Year’s Second Round of Layoffs
July 15, 2024  |  Personnel

Salesforce reportedly cut about 300 jobs in July after eliminating 700 roles earlier this year. The latest cuts are part of the company’s ongoing effort to...

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