US consumer spending fell sharp 0.5 percent in December

Business 03/01/19, 08:55

U.S. consumer spending tumbled 0.5 percent in December, the biggest decline in nine years, as the holiday shopping season ended in disappointment. Meanwhile, incomes rose sharply in December but edged down in January.The fall in consumer spending followed sizable gains of 0.7 percent in October and 0.6 percent in November, ...

Apple opens new chapter as iPhone sales fall and stock sinks

Tech 01/29/19, 16:40

Apple hoped to offset slowing demand for iPhones by raising the prices of its most important product, but that strategy seems to have backfired after sales drooped during the holiday shopping season.Now, CEO Tim Cook is grappling with his toughest challenge since replacing co-founder Steve Jobs 7 ½ years ago. ...

Tiffany holiday sales slip as Chinese tourists spend less

Business 01/18/19, 13:52

Tiffany & Co. says holiday shoppers and Chinese tourists spent less on its bling.The luxury jeweler, famous for its little blue boxes, says sales slipped in the holiday shopping season as Chinese tourists spent less while traveling due to the strong dollar, making it more expensive to buy Tiffany jewelry ...

US retail sales rose scant 0.2% in November

Business 12/14/18, 08:34

U.S. retail sales increased a slight 0.2% in November, as strong sales tied to holiday shopping were offset by lower gasoline prices.FILE- In this Nov. 23, 2018, file photo shoppers walk through Dolphin Mall while shopping on Black Friday in Miami. (AP Photo/Lynne Sladky, File)The Commerce Department said Friday that ...

Retail group says holiday season off to a strong start

Business 11/27/18, 16:24

The holiday shopping season has gotten off to a "very strong" start, according to the largest U.S. retail trade group.The National Retail Federation said Tuesday that consumer spending has been strong, fueled by a better economy and stores' investments in online services including features that allow shoppers to buy online ...

Stocks bounce back as tech, retail and banks jump

Business 11/26/18, 15:12

Global markets are rising Monday as big technology stocks recover some of their recent losses and retailers and travel companies climb on the first full trading day of the holiday shopping season. Banks are rising with interest rates.Indexes in Europe and Asia are also higher. London's main stock index jumped ...

Black Friday and Cyber Monday are increasingly merging

Business 11/24/18, 14:44

The physical rush of Black Friday and the armchair browsing of Cyber Monday are increasingly blending into one big holiday shopping event as more customers buy items online and pick them up at brick-and-mortar stores.Adobe Analytics reported Saturday that customers' online orders that were picked up at stores increased 73 ...

Cyber Monday shoppers will see more sites charging sales tax

Business 11/23/18, 12:03

Shoppers heading online to purchase holiday gifts will find they're being charged sales tax at some websites where they weren't before. The reason: the Supreme Court. A June ruling gave states the go-ahead to require more companies to collect sales tax on online purchases. Now, more than two dozen have moved ...

Oil price plunge sends ripples through global economy

World 11/21/18, 07:00

A sharp drop in the price of oil is sending ripples through the global economy, lending more spending power to consumers — particularly for Americans' big holiday shopping spree — but potentially dampening investment in U.S. oil production. While the fall doesn't yet match the 2014-2016 slump to $26 per barrel, ...

Sears suppliers haunted by ghost of Toys R Us

Business 10/25/18, 08:57

Since filing for Chapter 11 bankruptcy, Sears Holdings Corp. has been trying to convince suppliers to keep shipping it merchandise by touting the $300 million in financing it has secured so that its business can continue operating through the holidays.But a growing number of manufacturers who themselves got hurt or ...

Ripple effect? Amazon’s $15 wage may help lift pay elsewhere

Business 10/02/18, 17:47

After years of sluggish pay gains, the economy may be starting to work for America's low-wage workers.Amazon's announcement Tuesday that it will raise its minimum wage to $15 an hour will intensify pressure on other companies to lift their pay levels as well. Among the most likely to do so: ...

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