Business

Last year's backpack: Tapped out households are struggling to pay for back to school purchases

Last year’s backpack: Tapped out households are struggling to pay for back to school purchases

Mid-July is typically when shopping for necessities such as clothes, shoes, backpacks, classroom supplies and gadgets for the new school year gets underway in earnest. But as high inflation takes a bigger bite out of budgets, many households are scrambling to afford these annual purchases for their children. “For this back to school season, we’re …

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Oil up over $2 per barrel as hopes fade for OPEC+ supply boost

Oil up over $2 per barrel as hopes fade for OPEC+ supply boost

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Register now for FREE unlimited access to Reuters.com Register U.S. drillers add oil rigs for record 23rd month in a row – Baker Hughes. Brent at highest since …

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Space company Masten files for bankruptcy after struggle with NASA moon contract

Space company Masten files for bankruptcy after struggle with NASA moon contract

Lunar-focused company Masten Space Systems filed for Chapter 11 bankruptcy protection on Thursday, with the venture winnowed down to a handful of people after layoffs and furloughs. The space company declared as its debts ballooned, tracing back to a NASA contract awarded to Masten two years ago. Once seen as a major win for the …

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Fed's aggressive rate-hike path bolstered by new inflation, wage data

Fed’s aggressive rate-hike path bolstered by new inflation, wage data

July 29 (Reuters) – Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the U.S. central bank will let up on what’s so far been its most aggressive set of interest rate hikes in decades. In data released on Friday, he largely got the opposite. Inflation …

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The Chevrolet Colorado Trail Boss and Z71 Can Make ZR2 Power With an Engine Tune

The Chevrolet Colorado Trail Boss and Z71 Can Make ZR2 Power With an Engine Tune

2023 Chevrolet Colorado trims from left to right: Colorado Z71, Colorado Trail Boss and Colorado ZR2Photo: Chevrolet Now that the new Chevy Colorado has been announced, it’s clear that the mid-size truck segment is having a moment. The 2023 Chevy Colorado is going to bask in the glow for a bit, before the spotlight returns …

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Why did gold price outlook just change? All eyes on next week's employment report

Why did gold price outlook just change? All eyes on next week’s employment report

(Kitco News) Gold rallied in response to the repricing of Federal Reserve rate hike expectations after the July FOMC meeting, but gold is not out of the woods just yet, with analysts not ruling out a drop back to $1,700. After raising rates by 75 basis points on Wednesday, Fed Chair …

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What Fed Rate Increases Mean for Mortgages, Credit Cards and More

The S&P 500 is about to have its best month since November 2020.

July turned out to be the best month for Wall Street’s stock investors since November 2020, a rally fueled by better than expected financial results from some of America’s biggest companies and bets that the Federal Reserve could curtail its policy of constraining the economy sooner than previously expected. The S&P 500 rose 1 percent …

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