Business

One type of Social Security adjustment could cut the 75-year shortfall in half

Social Security’s looming insolvency in under a decade could be delayed by a change to how the annual cost-of-living adjustment (COLA) is calculated, with a new analysis finding that it could cut the entitlement program’s 75-year fiscal shortfall in half. The nonpartisan Committee for a Responsible Federal Budget (CRFB) proposed…

Magnificent 7 stocks shed hundreds of billions amid AI spending fears

Shares in the Magnificent 7 tech stocks have slumped this week amid investors’ concerns about massive spending by hyperscalers on artificial intelligence infrastructure amid uncertainty about the global economy due to the resumption of hostilities in the Iran war. The so-called Magnificent Seven tech stocks experienced their biggest one-day drop…

Amazon Prime settlement: How eligible customers can claim their refund

Some Amazon Prime customers have days remaining to file claims for refunds of up to $51 under the company’s $2.5 billion settlement with the Federal Trade Commission. Claims must be submitted by July 27, 2026, through the official settlement website. The deadline applies to eligible consumers who have not already…

Albertsons warns of softer grocery demand as consumers pull back

Albertsons lowered its fiscal 2026 sales and earnings outlook Thursday after weaker grocery demand and a more cautious consumer weighed on its first-quarter performance. The grocery chain now expects identical sales to decline between 0.5% and 1.5% for the full fiscal year, compared with its previous forecast of flat sales…