Business

LARRY KUDLOW: A new Goldilocks — Strong growth and falling prices

After two great inflation numbers where the level of both consumer and producer prices actually declined in June from the prior month, reported out Tuesday and Wednesday, today we get another big number this time on retail sales — also known as consumer spending. Core sales have risen 8 percent…

Ikea to close locations in 2 states

Ikea shoppers in Charlotte and Austin will soon have fewer options for home design consultations and pickup services. The Sweden-founded retail giant is closing its South Charlotte and Austin-Domain, Texas, “Plan & order point with Pick-up” locations on Aug. 30, 2026, according to notices posted on the company’s website.The smaller-format…

7-Eleven details plans to close 645 stores

The parent company of 7-Eleven convenience stores shed more light on its plan to close hundreds of stores in the U.S. this year. Parent company Seven & i Holdings indicated in a filing earlier this year that it planned to close 645 7-Eleven stores in the company’s fiscal year 2026.Seven…

Mortgage rates jump to highest level in almost a year

close video Mortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% – the highest level since August 2025…

American mall retailer warns it may close up to 15 more stores this year

Fossil Group plans to close up to 15 stores this year as the watch and accessories company continues trimming its global retail footprint under a broader turnaround plan focused on costs, profitability and balance-sheet strength. Executives for the Richardson, Texas-based company said on Fossil’s first-quarter earnings call that the company…

Jamie Dimon says he understands why people have grown ‘anti-rich’

JPMorgan Chase Chairman and CEO Jamie Dimon is validating the growing frustration of working-class Americans, admitting in a recent interview that he completely understands why many have grown “anti-rich.” The Wall Street billionaire argued that decades of ineffective public policies have left lower-income families behind in struggling rural areas and…

Treasury unveils  gold coin with Trump’s image on front

Treasury Secretary Scott Bessent announced Wednesday that the U.S. Mint will begin striking a new $1 gold coin featuring President Donald Trump to mark America’s 250th anniversary. Bessent said in an X post that the coin will honor “the enduring legacy of liberty” and serve as a “lasting symbol of…