What Walmart, Target, Home Depot and Lowe’s tell us about the economy

How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its … Read more

Netflix tells ‘woke’ workers to quit if they are offended: ‘culture’ memo

They’re putting woke workers to bed. In light of internal dissension triggered by productions like Dave Chappelle’s controversial stand-up special, Netflix has reportedly issued a memo to its disgruntled staffers, underscoring that the streaming behemoth values ​​the “artistic expression” of its content creators over each employee’s personal thoughts, beliefs and lifestyles. And any worker who … Read more

Google unveils new smartphone, watch and tablet as part of suite of new products

Google has unveiled an expanded lineup of hardware products in the latest sign it remains committed to moving beyond its core advertising business and competing with the likes of Apple. Google, at its first in-person developer conference in three years, announced three new smartphones and its first in-house smartwatch, as well as plans to release … Read more

Rivian (RIVN) Q1 2022 earnings preview

Rivian CEO RJ Scaringe inside the company’s customer experience center outside of its plant on April 11, 2022 in Normal, Ill. Michael Wayland/CNBC Electric-vehicle maker Rivian Automotive will report its first-quarter earnings after market close on Wednesday. Wall Street analysts polled by Refinitiv expect a loss of $1.44 per share on revenue of about $130.5 … Read more

Wall Street’s losses worsen as markets tumble worldwide

NEW YORK (AP) — Wall Street is tumbling toward its lowest point in more than a year on Monday as renewed worries about China’s economy pile on top of markets already battered by rising interest rates. The S&P 500 was 2.1% lower in afternoon trading after coming off its fifth straight losing week, its longest … Read more

A history of Trader Joe’s and Joe Coulombe, the man behind the brand

Joe Coulombe, a struggling convenience store owner in Los Angeles, decided in 1967 to open a grocery chain to appeal to the small but growing number of well-educated, well-traveled consumers that mainstream supermarkets were ignoring. “I have an ideal audience in mind,” he told the Los Angeles Times in 1981. “This is a person who … Read more

Your bank might be putting its interest rate up by more than it needs to. Here’s why

Amid the real cost of living pressures, how would you feel if you knew the big four banks were raising the cost of your mortgage to pump up their profit margins? It appears the banks are using a lack of understanding about how monetary policy is implemented to charge mortgage borrowers more than their costs … Read more

Baby boomers under fire as younger generations hit back over rate hike and suggestion they’re too soft

The generation divide has been well and truly exposed when it comes to Tuesday’s interest rate hike. The West Australian’s front page on Wednesday, where an 85-year-old retiree scoffs at the Reserve Bank of Australia’s first rate increase in nearly 12 years, has been flooded with comments from millennials and baby boomers to those in … Read more

What the rise in inflation means for interest rates and cost of living — and it’s not good news

It was a gloomy old day on the economics front. The day began rather badly following another big fall on Wall Street overnight. For global investors, there’s a lot to worry about: rising inflation and what that means for interest rates, geopolitical instability and, of course, the pandemic. After heavy falls earlier this week, the … Read more