Grocery giant Kroger pledged to slash prices at Albertsons stores by $1 billion following its proposed acquisition of the rival chain — but Wall Street is increasingly skeptical the deal will win government approval as food inflation continues to roil US politics. Kroger is raising the stakes of the $25…
As Democratic presidential nominee Kamala Harris overtakes her Republican opponent Donald Trump in opinion polls – she is now leading in five crucial swing states – experts warn she will face “a heavy road” when it comes to passing economic legislation should she become the next president of the United States….
Year-over-year inflation has reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the United States Federal Reserve for an interest rate cut in September. Wednesday’s report from the US Department of Labor showed…
The unexpected rise in the unemployment rate in the United States has left economists divided: Is the US on the brink of a recession or not? The unemployment rate jumped to a nearly three-year high of 4.3 percent in July, as per data released Friday. The increase – up from…
No wonder we can’t make ends meat. A beefy batch of data has revealed some charred truths about the astronomical prices we’re paying for a burger, fries and a drink across the United States these days, as rampant inflation continues to impact all aspects of American daily life. And while…
Petrol will cost up to 15 percent more from Friday. Egypt is raising fuel prices for the second time in four months, fulfilling an economic reform condition set by the International Monetary Fund (IMF) to unlock hundreds of millions in new loans. Egypt’s official gazette reported an up to 15…
The United States Federal Reserve faces a cooling job market as well as persistently high prices, Chairman Jerome Powell has said in testimony to the US Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the past two years that suggests it is moving closer…
Record 71 million people are expected to travel on upcoming long weekend, a growth trajectory similar to pre-pandemic. High fuel costs and the threat of a hurricane are not expected to dampen Americans’ desire to hit the road, with vacationers preparing for record travel to kick off Fourth of July…
Joseph E Stiglitz and other Nobel laureates say former president threatens US’s standing in the world. Sixteen Nobel prize-winning economists have signed a letter warning that the re-election of former United States President Donald Trump would harm the US economy and lead to higher prices for consumers. In the letter…
Increased attention to home prices comes as the housing crunch becomes an increasing issue in upcoming elections. The Biden administration is announcing new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the…
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