As JCPenney continues its bid to reinvent itself after bankruptcy, the retailer is dipping back into an old-school playbook with a head-turning deal.
Why it matters: The highly competitive back-to-school shopping season is here but Americans are spending at a more measured pace as inflation pressures continue.
Americans' bank account balances have been falling for more than two years. That means we've lost some — not all — of our pandemic-induced proclivity to sit on a fat buffer of cash savings in case disaster strikes again.
Why it matters: There's still a broad temptation to compare the current world to the pre-pandemic normal — but, more than three years after the traumatic 2020 recession, people are increasingly getting used to something different.
The launch of the FedNow instant payments system on Thursday marks official ratification from the U.S. central bank of a model that has taken off very impressively elsewhere in the world.
The big picture: If it catches onhere, the biggest losers are likely to be the major credit card issuers.
The number of pilots declining a promotion to captain has at least doubled in the past seven years, pilots union spokesperson Dennis Tajer told Reuters.
State of play: At American Airlines alone, over 7,000 pilots have declined such promotions, while at United, 50% of captain vacancies have gone unfilled.
The failure of VanMoof — an e-bike manufacturer that raised more than $225 million in venture funding before going bust this week — is a stark reminder that buying an e-bike remains a very risky proposition.
Why it matters: Any such purchase boils down to a simple question: Do you want to buy something that risks becoming a bomb, or do you want to buy something that risks becoming a brick?
Members of Congress — along with the president, vice president, and other key members of the government — should be barred from owning individual stocks. That's the message being sent by two senators, backed by overwhelming public opinion.
Why it matters: The senators introducing the bill, Kirsten Gillibrand of New York and Josh Hawley of Missouri, are both Gen X — the first (and possibly the last) generation to truly adopt the tenets of passive investing.
Celebrities are starting retail brands at a feverish pace, capitalizing on their social media prowess to sell goods to customers interested in their brands.
Why it matters: The celebrity retail phenomenon entered a new stratosphere this week when Kim Kardashian's apparel brand, Skims, raised money at a $4 billion valuation.
Fewer businesses are testing employees or prospective hires for cannabis use in response to widespread legalization of the drug, according to data from Quest Diagnostics, one of the largest drug-testing laboratories in the country.
Why it matters: The drop in testing comes amid "overwhelming" support for legalization for medical and recreational purposes, indicating that the drug is becoming more socially acceptable.
If rapidly advancing artificial intelligence is as important for industries and jobs as many people think it is, it will have massive implications for economy-wide productivity, growth, incomes, inflation and more.
Why it matters: Widespread use of generative AI could create a surge in productivity growth. And for all the disruption it entails for individual companies and workers, it should boost incomes and trend growth.
As the unlikely double-feature success of Barbenheimer grips moviegoers and theaters, consumer interest in making an event out of going to the movies has never been clearer.
With more choices, falling prices and a newly available federal tax credit, there's finally a decent market for affordable, pre-owned electric vehicles (EVs).
Why it matters: People buy more than twice as many used cars as brand new models, so a vibrant secondary market is key to broader EV adoption.
The Midwest and Southeast are hot spots for retail health clinics, per new data from health care analytics firm Definitive Healthcare.
Why it matters: Retail clinics — which are located inside retail or convenience stores and offer basic health services like vaccinations and minor injury care — offer an easy-to-access alternative to emergency rooms, urgent care clinics and primary care providers.
