Consumers have gotten off the couch, shifting their spending to services like travel and entertainment. Now they're buying fewer couches.
Why it matters: The furniture industry is reeling, suddenly far removed from the historic pandemic-fueled boom in sales of furnishings and home improvement items.
It's been a summer of recalls at Trader Joe's with six products pulled in five weeks for possible contamination ranging from rocks, insects, metal and undeclared milk.
Why it matters: The high number of recalls raises concerns over quality control in the retailer's supply chain, food safety lawyer and advocate Bill Marler told Axios.
Interest will begin accruing on federal student loans on Friday, causing balances to balloon again for the first time in more than three years.
Why it matters: Millions of Americans collectively owe more than $1 trillion in student loans, and experts have warned about the impact of the impending payment resumption on borrowers' finances.
Entertainment public relations professionals are caught in the middle of Hollywood's current labor battle.
Why it matters: Entertainment publicity is at a standstill, and mid-sized PR firms are taking bigger financial hits than they did during the peak of the COVID-19 pandemic.
There's a major trust gap between employees who sit at a desk and those who don't, according to a new Edelman report on trust in the workplace.
Why it matters: Deskless workers, such as frontline factory or retail employees,make up about 80% of the global workforce, and are the least trusting, least engaged and most likely to feel burnout, per the study.
Frontier Risk Group, a commercial insurance startup focused on the cannabis industry, has raised $3.1 million in seed funding led by Casa Verde Capital.
Why it matters: This comes on the heels of news that U.S. health officials recommended that the DEA move marijuana to a lower-risk category under the Controlled Substances Act, which could be a massive boon for the cannabis market.
Taylor Swift's mega tour is heading to movie theaters this fall.
Driving the news: AMC Theatres announced Thursday that a concert film version of the music superstar's The Eras Tour will debut on the big screen Friday, Oct. 13.
Around 900 union workersat Japanese department store operator Sogo & Seibu went on strike Thursday, protesting a pending acquisition by U.S. investment firm Fortress Investment Group.
Why it matters: Labor disruptions in Japan have become rare, with fewer than two dozen strikes last year that lasted more than half a day.
The Federal Reserve's go-to measure of inflation accelerated last month, the Commerce Department said Thursday.
Why it matters: The Personal Consumption Expenditures Index, a gauge tracked by the Fed, rose 3.3% from a year ago — an uptick from the 3% in June as the U.S. lapped a period last year in which energy prices plunged.
