Fed slashes interest rates by half a percentage point in bid to avert slowdown
The Federal Reserve cut its key lending rate by half a percentage point, at the top end of Wall Street expectations, saying a shaky job market poses a bigger risk to the economy than inflation. But Fed Chairman Jerome Powell said economic observers should not assume the half-point cut represents “a new pace of further […]
Dow leaps to all-time high after Fed slashes rates by half-point
Wall Street's main stock indexes surged in choppy trading on Wednesday after the Federal Reserve decided to cut interest rates by half a percentage point for the first time in more than four years. In afternoon trading, the Dow Jones Industrial Average hit an all-time high of 41,981.97 and was last up 196.36 points, or […]
Constellation Brands slashes outlook on weak wine demand
Liquor giant Constellation Brands warned on Tuesday that it may be forced to write down the value of its assets by as much as $2.5 billion this year due to sluggish demand for wine as consumers cut back on non-essential purchases amid high inflation. The Rochester, New York-based company, which owns brands such as Corona, […]
Smucker’s, Jif peanut butter owner slashes full-year outlook amid stubborn inflation
J.M. Smucker Co., owner of Jif Peanut Butter, on Wednesday cut its full-year sales and profit outlook, hurt by rising inflation as cost-conscious consumers turn to cheaper alternatives. The company has raised prices on some products, including frozen foods, to offset rising raw material costs, but expects full-year sales to fall as consumers cut back […]
Homeless man slashes North Carolina tourist across cheek inside Newark Airport
A homeless man allegedly stabbed a North Carolina tourist in the cheek at Newark Airport on Sunday evening, just eight days after completing a nearly three-year sentence, police said. According to authorities, Melissa Mauldin was waiting for a friend to return from the restroom when she was attacked with a knife by suspect Xiong Jin, […]
Macy’s slashes sales outlook; retailer struggles for cash-strapped shoppers
Iconic department store Macy’s Inc. slashed its annual sales outlook after disappointing second-quarter earnings as it struggles to attract customers hit by inflation. Macy’s shares fell 13 percent on Wednesday to $15.45. Retailers were forced to lower prices on mid- to high-end items and offer more promotions to compete with more affordable rivals, but sales […]
Cops shut down NYC Dominican Day Parade as unruly crowd swarms 6th Ave. and teen slashes 65 year-old
A Dominican Republic Day parade in Manhattan was abruptly halted on Sunday after a large, disorderly crowd swarmed the route in Midtown and a teenager slashed a 65-year-old man in the face, law enforcement sources said. The 42-year-old parade was expected to attract 500,000 spectators and feature 113 organizations, including community groups, carnival bands and […]
Hatchet-Wielding Maniac Allegedly Slashes 3 McDonald’s Workers, Walks Off With Cookie After Being Refused Free Meal
A man allegedly attacked three McDonald’s employees with what appeared to be an axe on Sunday after they were denied free meals, Fox 32 reported. The incident happened Sunday morning at a McDonald’s on Chicago’s Southwest Side, when a man allegedly attacked three employees. according to According to Fox 32, the gunman entered a McDonald’s […]
Warner Bros. Discovery Slashes 1,000 More Jobs, Talks Studio Split
After thousands of layoffs following the 2022 merger between Discovery and Warner Bros. another 1,000 job cuts are planned. “According to the source [the far-left] variety WBD plans to lay off around 1,000 employees across several departments, including finance, operations, production and streamer Max, as part of new cost-cutting measures.” report addition“The majority of the […]
Florida Reform Slashes Free Healthcare Spending on Migrants
In Florida, medical costs for illegal immigrants were nearly cut in half after a law requiring hospitals to track unpaid care provided to them. Senate Bill 1718, Signed The bill, proposed by Governor Ron DeSantis (R-Fla.), goes into effect in July 2023, and almost a year after it was enacted, the results have been startling. […]