US retail sales little changed in July as auto, fuel buying drop | Retail News

A decline in US consumer spending is critical in the Federal Reserve’s fight against inflation. U.S. retail sales stagnated last month on lower auto purchases and lower gasoline prices, though gains in other categories suggest consumer spending remains resilient. The value of overall retail purchases was flat last month after a revised 0.8% jump in … Read more

Starbucks accuses US labour officials of helping workers unionise | Workers’ Rights News

The coffee giant is asking the National Labor Relations Board to temporarily suspend all union elections in American stores. Starbucks is calling on the U.S. National Labor Relations Board (NLRB) to temporarily suspend all union elections at its stores in the United States after accusing the agency of interfering with and influencing election results in … Read more

What inflation? US import prices drop, consumer sentiment rises | Business and Economy News

Import prices, excluding customs duties, fell 1.4% in July, the biggest monthly drop since April 2020. U.S. import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and other fuel costs, while the one-year inflation outlook for consumers declined in August, with the latest signs … Read more

China state-owned giants to delist from US stock exchange | Financial Markets News

The delisting comes on top of a growing financial divide and mounting tensions between the two largest economies. Three state-owned Chinese giants on Friday announced plans to take their shares off the New York Stock Exchange, adding to growing financial separation between the world’s largest economies amid a dispute over the review of corporate audits … Read more

US petrol prices below $4 a gallon for first time since March | Business and Economy News

Gasoline prices in the United States have now fallen for eight straight weeks, according to the American Automobile Association. The average U.S. gasoline price fell below $4 a gallon on Thursday, providing much-needed relief for U.S. drivers after prices hit record highs earlier this year. According to the American Automobile Association, the national average price … Read more

Ex-Arm boss exits Chinese chipmaker amid US-China tensions | Technology

Tudor Brown leaves the board of directors of Semiconductor Manufacturing International Corporation after nine years in office. Tudor Brown, the former chairman of Arm Ltd., has resigned from the board of directors of Semiconductor Manufacturing International Corp., walking away from the Chinese chipmaker which has been hit with US sanctions. Brown, a famous engineer who … Read more

What the blowout US jobs numbers actually mean | Inflation News

Are there really more people working than at any time in American history, as President Joe Biden claims? Searing US jobs numbers for July may have eased worries about a recession, but they also raised the risk of another 75 basis point hike from the Federal Reserve in September. . U.S. employers added 528,000 jobs … Read more

US manufacturing sector slows modestly in July | Manufacturing News

Manufacturing activity in the United States continued to slow in July as more factories cut production in the face of falling orders and rising inventories. The Institute for Supply Management’s factory activity gauge fell to 52.8, the lowest level since June 2020, from 53 a month earlier, data showed Monday. Readings above 50 indicate expansion, … Read more

Top economic takeaways as US wrangles with recession fears | Inflation News

Consecutive GDP slowdown, Fed doubling, a falling job market, scorching prices and the tech big bang, here are the major economic highlights from a busy week. It was a turbulent and data-rich week for the US economy. The Federal Reserve, the nation’s central bank, raised interest rates by 75 basis points on Wednesday, the second … Read more

As US consumer confidence falls, retailers see long list of woes | Retail News

New data highlights the growing economic threat posed by runaway inflation in the United States. U.S. retail stocks were down on Tuesday, dragged down by a profit warning from retail giant Walmart and new U.S. data showing consumer confidence fell to an all-time low in July level since February 2021. The latest signals raise concerns … Read more