U.S. Latino economic output grows to $3.2 trillion, new study says
The U.S. Latino economy continues to grow, reaching $3.2 trillion in 2021, up from $2.8 trillion the year prior, according to a new report by the Latino Donor Collaborative in partnership with Wells Fargo. Over the last decade, the U.S. Latino economy has grown two and a half times faster than the non-Latino equivalent, surpassing […]
American consumers have a lot on their mind right now — and things are likely to get worse
Americans are facing economic challenges on multiple fronts. U.S. consumer confidence fell to a four-month low in September, as people became more concerned about rising interest rates, an increased cost of living and a potential government shutdown, the Conference Board said Tuesday. “To use a phrase from my childhood in the South, households are ‘sick […]
Marijuana financing bill SAFER Banking to move forward in Congress
Different strains of cannabis are displayed for sale at the Harborside dispensary in Oakland, California, U.S., on Monday, March 23, 2020. David Paul Morris | Bloomberg | Getty Images A new bill that aims to give the marijuana industry access to banking services is expected to move forward in the Senate on Wednesday. The Secure […]
Rising debt among older households is a serious problem
Policy makers and researchers have been fretting that the share of older Americans with debt has risen from 38% to 63% since 1990. Having debt, however, doesn’t have to be a bad thing. For example, households that take out a low-interest mortgage to buy a home, which typically appreciates, are likely making a savvy choice. […]
Target says it will close nine stores, citing violence and theft
A Target department store in North Miami Beach, Florida, on May 17, 2023. Joe Raedle | Getty Images Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. The company will close one store in New York City’s Harlem neighborhood, two locations in […]
Barry Diller says fair use needs to be redefined to address AI
Slamming the tentative labor deal between Hollywood writers and studios, media mogul Barry Diller on Tuesday laid out his biggest bone of contention with generative artificial intelligence. Diller, chair of IAC and Expedia, called for the law to be redefined to protect published material from capture in the knowledge bases of artificial intelligence. “Fair use […]
My husband took out a $50K car loan. What about spending money on our kids?
My husband just told me the company he works for is not doing well. He may not get the raise or the bonus he was looking forward to next year. His base pay is $100,000, with a bonus of $20,000 to $30,000. That bonus was earmarked to pay off extensive house repairs completed this year, […]
Peloton co-founder Tom Cortese leaving company
People walk past a Peloton store in Coral Gables, Florida, on Jan. 20, 2022. Joe Raedle | Getty Images Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected fitness company alongside […]
Videogame stocks outperform broader market slightly as actors strike threatens to spread to game publishers
Videogame stocks performed slightly better than the broader market Tuesday after striking actors voted late Monday to expand their strike to work on videogames, which constitutes an even larger market than movies or television. Monday evening, members of the Screen Actors Guild-American Federation of Television and Radio Artists voted 98.3% in favor of a “strike […]
Costco (COST) earnings Q4 2023
Costco on Tuesday reported quarterly earnings that topped Wall Street’s expectations, as shoppers turned to the membership club for groceries but bought fewer big-ticket items. On an earnings call, Chief Financial Officer Richard Galanti said shoppers made more trips to the retailer’s stores, even as they spent less. He said sales of pricier items in […]
