Inflation-hit shoppers swallow P&G price hikes to boost company’s earnings
Procter & Gamble's price hikes boosted its profit in the latest quarter, the company reported Tuesday, showing that inflation-stricken consumers are not turning away from the company's more expensive household products. Aside from the price increases that primarily drove sales growth, shoppers also bought more products across P&G's beauty product line and health and family […]
Full effect of Fed rate hikes have not been seen, Bank of America CEO warns
Bank of America CEO and Chairman Brian Moynihan talks about Fed interest rate hikes, consumer resilience in 2024, and regulation of major banks. Bank of America's CEO warns that Americans are yet to feel the full effects of the Federal Reserve's 11 interest rate hikes. Bank of America CEO and Chairman Brian Moynihan reviewed the […]
PepsiCo products are being pulled from some Carrefour grocery stores in Europe over price hikes
PARIS (AP) — Global supermarket chain Carrefour is cutting prices at stores in France, Belgium, Spain and Italy due to price hikes on popular products such as Lay's potato chips, Quaker Oats, Lipton tea and its namesake soda. Discontinue sales of PepsiCo products. The French grocery chain announced Thursday that it has removed PepsiCo products […]
PepsiCo products removed from supermarket giant’s shelves over ‘unacceptable’ price hikes
European supermarket chain Carrefour has removed PepsiCo products from its shelves, saying the price hikes are “unacceptable”. This issue is being raised by other major companies in the industry as well. The chain, which has more than 12,000 stores worldwide, is stocking PepsiCo Pepsi and 7Up sodas, Lipton teas and Quaker foods from shelves in […]
Ford hikes price of some F-150 Lightning models up to $10K
Ford announced that it will adjust the prices of some F-150 Lightning models, increasing some models by up to $10,000 and reducing others by up to $7,000. Starting prices for the Detroit automaker's electric pickup will range from $54,995 for the entry-level Pro model to $92,995 for the Platinum Black trim. CNBC. Prices for the […]
Fed ‘likely’ done with rate hikes, concerned with ‘uncertainty’: minutes
Members of the Fed's key committees predicted a rate cut in 2024, but noted “an unusually high level of uncertainty” in considering next steps. According to the new minutes Contents of the December meeting announced Thursday. The committee voted to keep interest rates at the highest level in more than 20 years after its final […]
Big Macs could rise to $15 due to minimum wage hikes
Half the states have decided to raise their minimum wages, meaning the price of fast food staples like McDonald's Big Macs could soar to $15 in those states, according to one economic analyst. . Brandon Arnold, executive vice president of the fiscally conservative think tank National Taxpayers Alliance, called California's decision to require fast-food workers […]