Business related news.
NEW YORK (AP) — Macy’s posted a surprise third-quarter profit and its strongest comparable sales in more than three years as an extensive overhaul of the 167-year-old New York department store begins to resonate with shoppers. After posting its back-to-back quarterly jumps in comparable sales, Macy’s earlier this week raised its financial guidance for the [...]
NEW YORK (AP) — Billionaires Michael and Susan Dell have pledged $6.25 billion to provide 25 million American children 10 and under an incentive to claim the new investment accounts for children created as part of President Donald Trump’s tax and spending legislation. The historic gift has little precedent, with few single charitable commitments in [...]
NEW YORK (AP) — Shoppers scoured for deals online on Cyber Monday, delivering strong sales for retailers and capping a five-day spending spree that kicked off on Thanksgiving. Adobe Analytics reported that as of 6:30 p.m. EST on Monday, consumers had already spent $9.1 billion online for Cyber Monday, up 4.5 percent from the same [...]
WASHINGTON (AP) — The world economy has proven surprisingly durable in the face of President Donald Trump’s trade policies, the Organization for Economic Cooperation and Development said earlier this week, upgrading its outlook for global and United States economic growth this year. The 38-country OECD now forecasts that the world economy will grow 3.2 percent [...]
NEW YORK (AP) — Major retail chains and tech companies are offering new or updated artificial-intelligence tools in time for the holiday shopping season, hoping to give consumers an easier gift-buying experience and themselves an augmented share of online spending. Although AI-powered purchases are in early stages, the shopping assistants and agents rolled out by [...]
NEW YORK (AP) — Shoppers turned out in big numbers for Black Friday last week — spending a record amount of money both in stores and online. Mastercard SpendingPulse, which tracks in-person and online spending, reported that overall Black Friday sales, excluding automotive, rose 4.1 percent from a year ago. The retail sales indicator, which [...]
MINNEAPOLIS (AP) — The production lines at Indeed Brewing moved quickly, the cans filling not with beer, but with THC-infused seltzer. The product, which features the compound that gets cannabis users high, has been a lifeline at Indeed and other craft breweries as alcohol sales have fallen in recent years. That boom, however, looks set [...]
Ohio drillers produced 22.2 percent more oil last year than in 2023, but coal production fell 9.7 percent, according to a new report from the Ohio Department of Natural Resources. Overall, the state’s mineral resources produced $1.7 billion worth of geologic commodities, which also include products such as sand and gravel, in 2024. It’s the [...]
NEW YORK (AP) — Foreign small businesses are struggling to adapt since the United States ended the “de minimis” exemption on Aug. 29, which allowed imports under $800 to be tariff-free. Eliminating the exemption was meant to curb drug trafficking and stop low quality goods from flooding the U.S. market, but small businesses have been [...]
WASHINGTON (AP) — Consumers were less confident in the economy in November in the aftermath of the federal government shutdown, weak hiring and stubborn inflation. The Conference Board last week said that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the lowest reading since April, when [...]