WASHINGTON (AP) — A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to meeting minutes released last week. At the same time, many officials said “it would likely be appropriate” to keep rates [...]
NEW YORK (AP) — Walmart delivered another standout quarter, posting strong sales and profits that surpassed Wall Street expectations. With other retailers dialing back projections, the nation’s largest retailer last week raised its financial outlook after its strong third quarter, setting itself up for a strong holiday shopping season. Walmart Inc., based in Bentonville, Ark., [...]
LOUISVILLE, Ky. (AP) — GE Appliances last week touted wide-ranging ripple effects from shifting production from China to Kentucky as it announced more than $150 million in new contracts awarded to United States-based suppliers. The supplier contracts range in value from $330,000 to $41 million, span 10 states and cover crucial segments of the supplier [...]
SAN FRANCISCO (AP) — Nvidia’s sales of the computing chips powering the artificial intelligence craze surged beyond the lofty bar set by stock market analysts in a performance that may ease recent jitters about a Big Tech boom turning into a bust that topples the world’s most valuable company. The results announced last week provided [...]
NEW YORK (AP) — Verizon is laying off more than 13,000 employees, as the telecommunications giant says it must “reorient” its entire company. The jobs cuts began last week, per a staff memo from Verizon CEO Dan Schulman. In the letter, which was seen by The Associated Press, Schulman noted that Verizon’s current cost structure [...]
LONDON (AP) — Warner Music Group resolved its copyright battle with Udio and signed a deal to work with the AI music startup on a new song creation service that will allow users to remix tunes by established artists. It’s the second agreement between a major record label and Udio, a chatbot-style song generation tool. [...]
MILAN (AP) — Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy. Sales of high-end apparel, footwear and handbags are expected to [...]
Local home sales rose 9.5 percent in October, with 2,781 homes sold, according to statistics from Columbus Realtors. Home prices and the number of homes for sale also continued to increase. The average price for a home sold in the Columbus region last month was $373,797, which is 3.3 percent higher than in October 2024, [...]
WASHINGTON (AP) — Employers added 119,000 jobs in September, the federal government said, issuing a key economic report that had been delayed for seven weeks by the government shutdown. The unemployment rate rose to 4.4 percent in September, the highest since October 2021 and up from 4.3 percent in August, the Labor Department said last [...]