-President Joe Biden said on Thursday that his administration was involved in negotiations to avert a looming U.S. railroad strike that could shut down supply chains across the country but added that he has not directly engaged on the matter yet. Speaking to reporters outside a fire station on Nantucket Island, Massachusetts, during a Thanksgiving […]
Category: Business
Overstock Discounted Toys Stuff Store Shelves
Major retailers like Walmart, Amazon and Target have a toy glut this holiday season. Shoppers can expect deep discounts not only toys this year—but also on furniture, electronics and small kitchen appliances, as stores look to pare back their inventories and appeal to shoppers disillusioned by inflation. Retailers, bracing for last-minute shoppers, are also extending […]
Is ‘Black Friday’ Dead?
This season, holiday sales are expected to hit at least $942 billion dollars, which is a 6% increase from last year, according to the National Retail Federation. But with online shopping and earlier sales, does Black Friday still hold the same power in holiday shopping as it has in the past? Kristen Gall, the president […]
Thanks Inflation! Thanksgiving up 20% this year
Thanksgiving dinner will cost a whopping 20% more than it did last year, according to a new survey released Wednesday by the American Farm Bureau Federation. A feast for 10 with 12 menu items including a turkey, stuffing, cranberries, and pumpkin pie mix will cost $64.05 on average — up $10.74 from last year. That […]
Crypto trader exodus after FTX collapse
The wild-west days of crypto markets are back again as the large trading houses that once thrived on arbitraging price gaps pull back in the wake of FTX’s collapse. That’s opening up profitable opportunities for anyone that still dares to trade. Prices for essentially identical assets on various platforms are diverging in a clear sign […]
FTX investors fear they lost everything, they most likely have
FTX spent big money to make trading crypto popular and gain people’s trust. The company had an arena in Miami named after it and aired scores of TV commercials with superstars like Tom Brady and Steph Curry. “I’m not an expert and I don’t need to be,” NBA champion Curry says in one ad. “With […]
Twitter employees in mass exodus after Musk ultimatum
Twitter saw a fresh exodus of employees on Thursday as the company hit a deadline set by billionaire owner Elon Musk for remaining staff to commit to being “extremely hardcore” or leave the company. Departing employees posted on Twitter under the hashtag #LoveWhereYouWorked, announcing it was their last day at the social network. Twitter has […]
A nationwide rail strike is still on the table
Remember earlier this fall when the country came within hours of a nationwide rail strike? We could soon see a repeat of that scenario. The nation’s freight rail companies and some of their workers have yet to settle on a new contract after three years of negotiations. You could be forgiven for thinking — Wait, […]
Musk does not rule out Twitter bankruptcy
Elon Musk’s tenure at Twitter got even bumpier on Thursday, as he reportedly told employees during an emergency all-hands meeting that he can’t rule out the company filing for bankruptcy in the next year. Musk made the announcement during the all-hands meeting after an employee asked about the company’s current run rate, according to both […]
US Credit Card Debt is a $1 Trillion Problem
Americans could hold nearly $1 trillion in collective credit card debt before the end of the year, thanks to inflationary rises in everyday costs and interest rates. For the second quarter of 2022, Americans’ credit card debt rose 13 percent from the same period last year to $887 billion, according to the Federal Reserve Bank […]
Facebook/Meta to make huge job cuts
Facebook’s parent company Meta is reportedly planning to begin large-scale lay-offs this week that will affect thousands of employees. US media reported at the weekend that the job cuts could be announced as early as Wednesday. During Meta’s disappointing third quarter results, chief executive Mark Zuckerberg said staffing might fall. “In 2023, we’re going to […]
US diesel crunch means ‘stock up on food’
A shortage of diesel in the US has set alarm bells ringing for many experts, who are flagging higher prices for goods and risks to food supply as truckers pay more for fuel. Inventories of diesel have sunk far below emergency levels, and EIA data showed US had only 25 days’ supply of diesel left […]