US consumer spending fell in May as Americans struggled with historically high inflation levels. Personal incomes increased by 0.5%, but decreased when adjusted for inflation and taxes. The savings rate inched up to 5.4%, but is significantly lower than its pandemic-era peak of over 30%. Last month, US consumer spending fell more than anticipated as … Read more
New home sales jumped 10.7% to a seasonally adjusted annual rate of 696,000 units last month. April’s sales pace was revised higher to 629,00 units from the previously reported 591,900 units. Sales surged in the West and densely populated South but declined in the Midwest and Northeast. Confidence among U.S. consumers fell to a record … Read more
Alicia Boler Davis is leaving as senior vice president of global customer fulfillment. Last year, a manager sued Amazon for discrimination and harassment. The company saw a 70% increase in Black directors and vice presidents in the United States in 2021. Amazon.com Inc (AMZN.O) on Tuesday named long-lasting chief Doug Herrington to head its buyer … Read more
Russia’s monetary outlook has worsened as a critical bank survey on Thursday confirmed a deeper contraction than previously anticipated and inflation soaring to 22 percent this year. While President Vladimir Putin insists the economy has managed to climate the barrage of unprecedented sanctions imposed in view that he sent troops to Ukraine on February 24, … Read more
FRANKFURT: German consumer sentiment worsened for the second month running, a key survey said on Tuesday, as Europe’s largest economy braces itself for rising inflation and the spread of the Omicron coronavirus variant. Pollster GfK’s forward-looking barometer fell to -6.8 from a revised figure of -1.8 for December. “The high incidence of the virus due to … Read more
Consumer Electronics Show (CES)., the annual tech show to kicks off in Las Vegas on Jan. 7 It isn’t just about showing off the coolest laptops, TVs and gadgets. Consumer Electronics Show also a time for Facebook and Twitter to make some noise of their own. Social media companies historically haven’t had a big presence … Read more
