Consumer spending, the largest part of the US economy, is rising. That's a good sign for the economy. Household spending grew in June by 1.1%, up from a revised 0.3% increase in May, the Commerce Department reported on Friday. That growth, however, could be the result of rising inflation. Overall, Americans are growing pessimistic about the economy. The Conference Board Consumer Confidence Index decreased in July for the third straight month. About 43% of 3,000 respondents said they thin...

Consumer spending, the largest part of the US economy, is rising. That's a good sign for the economy. Household spending grew in June by 1.1%, up from a revised 0.3% increase in May, the Commerce Department reported on Friday. That growth, however, could be the result of rising inflation. Overall, Americans are growing pessimistic about the economy. The Conference Board Consumer Confidence Index decreased in July for the third straight month. About 43% of 3,000 respondents said they thin...

But after two years of double-digit price growth and wild bidding wars, the home sales are slowly starting to revert to a more normal pace thanks to rising mortgage rates, which make homes less affordable for buyers. Looking ahead, Fratantoni said, "we expect the unemployment rate to go up a small to medium amount, which coupled with affordability challenges, will lower demand [for homes]." That means home sellers will no longer be able to price their properties 15% higher than what their nei...

But after two years of double-digit price growth and wild bidding wars, the home sales are slowly starting to revert to a more normal pace thanks to rising mortgage rates, which make homes less affordable for buyers. Looking ahead, Fratantoni said, "we expect the unemployment rate to go up a small to medium amount, which coupled with affordability challenges, will lower demand [for homes]." That means home sellers will no longer be able to price their properties 15% higher than what their nei...

Instagram is dealing with a Kardashian problemTo beat back the threat of TikTok, Instagram has unveiled a suite of updates to its platform. But the social media app isn't getting positive feedback. Posts calling on the company to "Make Instagram Instagram again" have gone viral after it started prioritizing algorithmically-recommended posts and videos from its Reels product over photos from friends. Even Kim Kardashian and Kylie Jenner have joined the chorus of dissenters. The famous hal...

Instagram is dealing with a Kardashian problemTo beat back the threat of TikTok, Instagram has unveiled a suite of updates to its platform. But the social media app isn't getting positive feedback. Posts calling on the company to "Make Instagram Instagram again" have gone viral after it started prioritizing algorithmically-recommended posts and videos from its Reels product over photos from friends. Even Kim Kardashian and Kylie Jenner have joined the chorus of dissenters. The famous hal...

But on July 15 this year, a union vote succeeded in Lyndhurst: About 40 performers including knights, squires, trumpeters and a falconer are now members of the American Guild of Variety Artists. "We're not just 9-to-5 workers," said Monica Garza, who plays the role of the queen at the Lyndhurst location. "The disrespect from management made it feel more like a schoolyard rather than a professional establishment." Garza said the show's cast consists of professional actors, and in the...

But on July 15 this year, a union vote succeeded in Lyndhurst: About 40 performers including knights, squires, trumpeters and a falconer are now members of the American Guild of Variety Artists. "We're not just 9-to-5 workers," said Monica Garza, who plays the role of the queen at the Lyndhurst location. "The disrespect from management made it feel more like a schoolyard rather than a professional establishment." Garza said the show's cast consists of professional actors, and in the...

No doubt this is a big "if," hinged largely on inflation steadily receding from June's 40-year high. But it should. Oil and gasoline prices are falling quickly as the worst of the commodity market fallout from the Russian invasion of Ukraine appears to be behind us. Meanwhile, the pandemic continues to fade, allowing global supply chains to iron themselves out, which will ease shortages for everything from lumber to vehicles. Potential workers sidelined by the virus are also slowly getti...

No doubt this is a big "if," hinged largely on inflation steadily receding from June's 40-year high. But it should. Oil and gasoline prices are falling quickly as the worst of the commodity market fallout from the Russian invasion of Ukraine appears to be behind us. Meanwhile, the pandemic continues to fade, allowing global supply chains to iron themselves out, which will ease shortages for everything from lumber to vehicles. Potential workers sidelined by the virus are also slowly getti...

US gasoline prices continue to fall, and they could keep falling, raising the possibility of gas below $3 a gallon in much of the country before the end of the year. The national average for a gallon of regular gas stood at $3.96 Monday, down only a fraction of a cent from where it stood on Sunday. Still that decline maintained a streak of 62 consecutive days of falling gas prices. The average national price has fallen $1.06, or 21%, since hitting a record high of $5.02 a gallon on June 14. *...

US gasoline prices continue to fall, and they could keep falling, raising the possibility of gas below $3 a gallon in much of the country before the end of the year. The national average for a gallon of regular gas stood at $3.96 Monday, down only a fraction of a cent from where it stood on Sunday. Still that decline maintained a streak of 62 consecutive days of falling gas prices. The average national price has fallen $1.06, or 21%, since hitting a record high of $5.02 a gallon on June 14. *...

Nicole Muñoz of Albacora, a small-scale, sustainable fishing operation in Bogota that moves around 400 kilograms of fish from the Colombian coast to the capital every week, also says gasoline is key to her entire business model. "We use fuel for fishing boats, to move the produce from shore to airports, then in planes, our whole logistics depend on it," Muñoz told CNN. While fish prices have not increased as much as other food sectors in Colombia, like beef and poultry products, Muñoz believe...

Nicole Muñoz of Albacora, a small-scale, sustainable fishing operation in Bogota that moves around 400 kilograms of fish from the Colombian coast to the capital every week, also says gasoline is key to her entire business model. "We use fuel for fishing boats, to move the produce from shore to airports, then in planes, our whole logistics depend on it," Muñoz told CNN. While fish prices have not increased as much as other food sectors in Colombia, like beef and poultry products, Muñoz believe...

US airlines just had one of the most lucrative quarters in history. Passengers are suffering for it. The record revenue many airlines reported in April, May and June came via very high airfares and packed airplanes. A series of service disruptions caused by staffing shortages has made flying even worse. In the second quarter, American Airlines (AAL), United (UAL), Delta (DAL) and Southwest (LUV), which account for 80% of US air travel, earned a combined $2.8 billion. Sales jumped 10% from the...

US airlines just had one of the most lucrative quarters in history. Passengers are suffering for it. The record revenue many airlines reported in April, May and June came via very high airfares and packed airplanes. A series of service disruptions caused by staffing shortages has made flying even worse. In the second quarter, American Airlines (AAL), United (UAL), Delta (DAL) and Southwest (LUV), which account for 80% of US air travel, earned a combined $2.8 billion. Sales jumped 10% from the...

SaaS companies provide web-based applications that take care of everything from how secure the software is to how well it performs. Some of the world's most well-known SaaS companies include Zoom (ZM), SAP Concur and Salesforce (CRM), the American behemoth that owns workplace messaging app Slack. * India's software-as-a-service industry could be worth $1 trillion in value by 2030 and create nearly half a million new jobs, according to a recent report compiled by consulting firm McKi...

SaaS companies provide web-based applications that take care of everything from how secure the software is to how well it performs. Some of the world's most well-known SaaS companies include Zoom (ZM), SAP Concur and Salesforce (CRM), the American behemoth that owns workplace messaging app Slack. * India's software-as-a-service industry could be worth $1 trillion in value by 2030 and create nearly half a million new jobs, according to a recent report compiled by consulting firm McKi...

He had been thinking about retiring for a few years leading up to the pandemic -- he wasn't finding the work as fulfilling as it used to be and his financial adviser gave him the green light. And then a few months into the pandemic, he requested a voluntary layoff. "When the option came up that I could retire now and still get paid for six months, that's not bad." Since he was 56 when he retired in 2020, he planned on using his non-retirement accounts to live on to avoid any early-w...

He had been thinking about retiring for a few years leading up to the pandemic -- he wasn't finding the work as fulfilling as it used to be and his financial adviser gave him the green light. And then a few months into the pandemic, he requested a voluntary layoff. "When the option came up that I could retire now and still get paid for six months, that's not bad." Since he was 56 when he retired in 2020, he planned on using his non-retirement accounts to live on to avoid any early-w...

"The fact that a social media influencer who is not politically motivated may inadvertently become a censorship target clearly sends a signal with chilling effects," Han said. "In this regard, it may have adverse effects on the government's plan to boost the economy," he said. The intensifying crackdown against top live-streamers come as the e-commerce industry shows signs of slower growth amid regulatory tightening and economic slowdown. During this year's June 18 online shopping f...

"The fact that a social media influencer who is not politically motivated may inadvertently become a censorship target clearly sends a signal with chilling effects," Han said. "In this regard, it may have adverse effects on the government's plan to boost the economy," he said. The intensifying crackdown against top live-streamers come as the e-commerce industry shows signs of slower growth amid regulatory tightening and economic slowdown. During this year's June 18 online shopping f...

The ECB is already pacing far behind its peers. After cutting rates to zero at the beginning of the pandemic, the Fed has been on a rate-hiking spree since March, raising its benchmark rate in huge increments over the past few months to combat runaway inflation. Only the Bank of Japan — which on Thursday maintained its super-easy policies — hasn't budged. It also has to deal with a high degree of uncertainty regarding energy supplies, which is making forecasting future inflation difficul...

The ECB is already pacing far behind its peers. After cutting rates to zero at the beginning of the pandemic, the Fed has been on a rate-hiking spree since March, raising its benchmark rate in huge increments over the past few months to combat runaway inflation. Only the Bank of Japan — which on Thursday maintained its super-easy policies — hasn't budged. It also has to deal with a high degree of uncertainty regarding energy supplies, which is making forecasting future inflation difficul...