Los Angeles County Implements 10.25% Sales Tax
Los Angeles County Implements New Sales Tax Amid Measure ER Approval On Thursday, Los Angeles County launched a 10.25 percent sales tax, following the approval of Measure ER by voters just four months prior. The Essential Services Restoration Act, known as Measure ER, received significant support in L.A. County earlier this year, leading to a […]
California: L.A. County increases its sales tax rate, ranking among the highest in the nation
Los Angeles County is set to increase its sales tax from 9.75% to 10.25%, putting it among the highest rates in the country. This decision follows the passage of Measure ER, which voters approved earlier in the summer. The sales tax hike took effect on Thursday after being approved on June 2nd. With this change, […]
Nike provides a grim outlook and intends to cut additional jobs following disappointing sales.
Nike has intensified its restructuring efforts under CEO Elliott Hill, revealing plans on Thursday to eliminate more jobs and reorganize its global business divisions due to an unexpected and significant projected decline in annual revenue. During the initial two years of Hill’s leadership, the company aimed to rejuvenate growth by concentrating on key sports like […]
Euro weakens below 1.1350 as Lagarde signals a softer stance, German Retail Sales data draws attention
During the early trading hours in Asia on Wednesday, the EUR/USD pair falls to approximately 1.3335. The Euro has weakened against the US Dollar following dovish comments from European Central Bank President Christine Lagarde. Later on Wednesday, Germany’s retail sales data for August is expected to be released. On Tuesday, Lagarde expressed concerns that rising […]
Village Inn restaurant seeks bankruptcy protection due to increasing expenses and declining sales
The operator of a Village Inn restaurant located in Oldsmar, Florida, has sought Chapter 11 bankruptcy protection after reporting liabilities exceeding $554,000, according to recent court documentation. VI Oldsmar LLC filed for Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida on September 18, choosing to go through Subchapter V, which […]
5th Circuit: Federal Prohibition on Handgun Sales Across State Lines Contradicts the Second Amendment
Federal Ban on Interstate Handgun Sales Ruled Unconstitutional On Friday, the United States Court of Appeals for the Fifth Circuit determined that the federal prohibition against interstate handgun sales goes against the Second Amendment. The CQ Almanac mentioned that this ban originated from the Omnibus Crime Control and Safe Streets Act of 1968, which was […]
Major retailers launch competitive sales before the holiday season
Upcoming Sales Events from Major Retailers Next month, shoppers can look forward to a range of significant savings from major retailers. Amazon, Target, and Walmart are in a competitive frenzy, each announcing sales events set to kick off in October. While Amazon and Target will start their promotions on October 6, Walmart is getting a […]
Costco begins limiting motor oil sales as global scarcity drives up prices
Costco has started rationing its Kirkland Signature motor oil due to a global shortage of a vital ingredient used in synthetic lubricants, causing prices to spike. A 10-quart pack that used to cost around $30 is now priced at nearly $58. The retailer is limiting purchases to two packs per member every week as supplies […]
Plus size retailer closes 177 stores as it transitions to online sales
Torrid’s Store Closures Continue Amid Shift to Online Sales Things are looking pretty intense for Torrid, a well-known fashion retailer based in Southern California. The company, founded in Orange County, has closed a total of 177 stores since last year, reflecting its ongoing shift to focus on digital sales, according to reports. Torrid has previously […]
Nike Removed from S&P 100 as Stock Plunges due to Poor Sales
Nike Set to Depart S&P 100 After Years of Decline Colin Kaepernick’s first kneel during the national anthem happened a decade ago, and since then, Nike has aligned itself with him, facing significant repercussions for that decision. While there was a minor uptick in 2021, the company has seen a steep decline in profits and […]