Recent studies have shown a significant shift in consumer behavior among individuals taking GLP-1 drugs, with many reporting reduced spending on food. The Morgan Stanley survey revealed that a majority of respondents are cutting back on expenses related to dining out at restaurants and ordering takeout. This trend is expected to have lasting implications on
Artificial intelligence has made a big splash in the investment world since the introduction of ChatGPT in November 2022. This groundbreaking technology has enticed investors to pour their money into AI-related ventures in search of the next big winners. In 2023, the Magnificent Seven, comprised of tech giants like Tesla, Amazon, and Microsoft, led a
The United Auto Workers have achieved a significant milestone in their efforts to expand their reach beyond Detroit’s Big Three automakers. In a historic win, Volkswagen employees in Chattanooga, Tennessee, have overwhelmingly voted to join the union. This marks the UAW’s first successful organizing drive of an automaker outside of the traditional stronghold of the
The recent slashing of incentives rewarded to Bitcoin miners has brought forth significant implications for the cryptocurrency market. The event, occurring approximately every four years as mandated in the Bitcoin code, aims to decrease the issuance of bitcoins, creating a scarcity effect and upholding the cryptocurrency’s digital gold-like quality. While there may be some speculative
As the population of centenarians in the U.S. is predicted to increase significantly in the coming years, it poses a significant financial challenge for households. By 2054, it is estimated that there will be 422,000 Americans aged 100 and older, which is more than four times the number in 2024. This demographic shift is expected
Reaching a 2% inflation target has proven to be a challenging task, as highlighted by Federal Reserve Bank of Chicago President Austan Goolsbee. Despite the Fed’s stated goal, inflation rates have remained stubbornly above the target level. While there has been a significant decrease from the peak of 9.1% during the pandemic, the consumer price
The annual rate for newly purchased Series I bonds could potentially drop below 5% in May, causing concern among investors. Currently, individuals earn 5.27% annual interest on new I bonds purchased before May 1. However, experts are predicting that the new rate could decrease to around 4.27% based on inflation and other economic factors. Despite
Procter & Gamble recently reported its Q2 earnings, which resulted in a mixed quarter for the consumer products giant. The company’s stock initially plummeted, which may have been interpreted as profit-taking rather than a true reflection of the results. Despite the lower-than-expected sales of $20.195 billion, the organic growth of 3% and an increase in
Lululemon, the popular athletic apparel retailer, has announced its plans to close its distribution center in Sumner, Washington, resulting in the layoff of 128 employees. The company filed a WARN notice with the state’s Employment Security Department, confirming its decision to shut down the facility located south of Seattle. The layoffs will commence on June
Recently, the Federal Aviation Administration (FAA) announced that it will be implementing changes to address concerns over fatigue among air traffic controllers. The head of the FAA, Mike Whitaker, stated that controllers will now be required to have a minimum of 10 hours of rest between shifts, an increase from the previous 9 hours. Additionally,