Business

The US will effectively address its debt crisis by allowing inflation to rise slightly even though it may negatively impact savers and lower- to middle-income households, SkyBridge Capital founder Anthony Scaramucci said Wednesday, taking a contrarian view to one of the most polarizing economic debates ahead of the Nov. 5 election. Concerns of a technical default and the threat of a recurrent debt-ceiling … Read more

Kraft Heinz shares fell 4% on Wednesday after the company revealed its sales dropped in the most recent quarter as stiff prices crushed demand for its supermarket staples. The packaged food giant – which owns Kraft Mac & Cheese, Heinz Tomato Ketchup, Kool Aid and Jell-O – said third-quarter net sales dropped 2.8% to $6.38 … Read more

Signed contracts to buy existing homes in September jumped a surprising 7.4% compared with August, according to the National Association of Realtors. Analysts had been expecting about a 1% gain. These so-called pending sales were at the highest level since March and 2.6% higher than September of last year. Since pending sales are based on … Read more

Starbucks logo is seen at cafe in Lisbon, Portugal on February 13, 2024. Jakub Porzycki | Nurphoto | Getty Images Starbucks is set to share more details about its fiscal fourth quarter after the bell on Wednesday. The coffee giant shared its preliminary quarterly results on Oct. 22, showing that its sales fell for the … Read more

A fired Disney worker has been accused of hacking into the online menu system used by restaurants at Disney World and changing them to falsely indicate that some dishes were safe for customers with peanut allergies. Michael Scheuer, who worked as a “menu production manager” for Disney before he was fired for misconduct in June, … Read more

A United Airlines Boeing 757 departs from Los Angeles International Airport en route to New York on Sept. 19, 2024. Kevin Carter | Getty Images United Airlines customers will have to spend more to reach frequent flyer status next year, the latest move by the carrier to increase profits and give an exclusive feel to … Read more

Eli Lilly’s blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro posted weaker-than-expected sales for the third quarter, even as supply of both medicines have largely recovered from widespread shortages in the U.S.  The reason, according to the company, is not an issue of demand or supply.  Eli Lilly instead blamed disappointing sales on drug … Read more

Before July’s general election, Labour pledged to toughen existing Tory plans to abolish non-dom tax status. In March 2024, the-then Conservative chancellor Jeremy Hunt had announced that the non-dom tax regime would be phased out. Under Mr Hunt’s plans, people who moved to the UK from April 2025 would not have to pay tax on … Read more

Getty Images Chancellor Rachel Reeves repeatedly called this a “Budget for growth”. Is it? Over the next two years, yes. But the UK’s official independent forecaster’s verdict is that all the measures in the Budget do not boost the economy in the next three to five years. The National Insurance rise for employers rise weighs … Read more

New Jersey’s biggest newspaper, the Star-Ledger, said Wednesday that it will stop publishing its print edition in February amid rising costs and slumping demand for print. The 85-year-old publication’s owner Advance Local said it is also closing the Montville, NJ production facility and ending the print publication of dallies The Times of Trenton and the … Read more