Dell has too many computers. Nike is swimming in summer clothes. And Gap is flooded with basics like T-shirts and shorts. After struggling with product shortages for much of the pandemic, the country’s retailers are now facing the opposite problem: an unprecedented glut of unsold merchandise that’s cutting into profits, derailing holiday plans and threatening […]
WASHINGTON, Sept 26 (Reuters) – U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that financial market volatility can affect investor decisions and the […]
The Federal Trade Commission wants to take a closer look at Amazon’s $1.7 billion takeover of Roomba maker iRobot, delaying an acquisition process that has no expected closing date in sight. Both Bedford-based iRobot Corp. (Nasdaq: IRBT) and Amazon.com Inc. (Nasdaq: AMZN) received a request for additional information Monday from the FTC in connection with […]
After a slowdown in buyer activity starting in late spring, home price and value drops are being observed more frequently across the U.S. Nowhere are home values declining quicker than in the western United States, though. California cities San Francisco, Los Angeles and Sacramento, as well as Salt Lake City in Utah, saw the biggest […]
Inflation—and rising interest rates—are at the center of the American economic conversation. And for good reason, as the Fed anticipates more increases. Keeping interest rates in historical perspective Inflation is the highest it’s been since the early 1980s. Combined with the volatile swings in data throughout the pandemic, “We’re in uncharted territory,” said Ginger Chambless, […]
Bricks-and-mortar store owners are emerging from the pandemic with surprising strength, posting some of their best numbers in years and plotting expansions as more Americans venture out to buy things again. U.S. retail vacancy fell to 6.1% in the second quarter, the lowest level in at least 15 years, while asking rents for U.S. shopping centers in the […]
By Prashant Gopal October 3, 2022 at 12:01 AM EDTUpdated onOctober 3, 2022 at 8:59 AM EDT Home prices in the US have taken a turn and are now posting the biggest monthly declines since 2009. Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage-data provider […]
Last year, Massachusetts was ranked among the top 15 states for business by CNBC. This year, the state dropped down from 14th to 24th. Each year, CNBC creates its America’s Top States for Business list by scoring all 50 states on 88 metrics in 10 broad categories of competitiveness. These include categories like access to capital, infrastructure, […]
For more than a month, the campaign championing a special tax on the wealthy has blasted TV airwaves with a simple message: “They pay less and we pay more.” “They” are the people who earn more than $1 million a year, as one ad intones and pans to a shot of a businessman boarding a private jet. […]
Massachusetts consumers and businesses could be in for some sticker shock this winter when they open their electric bills — and feel the impact of a war an ocean away. A rate filing on Wednesday from National Grid, showing wintertime power bills rising more than 60 percent from a year ago, is just the latest […]
