Holiday sales up 7.6% despite the squeeze of inflation

NEW YORK — Holiday sales rose this year as American spending remained resilient during the critical shopping season despite surging prices on everything from food to rent, according to one measure. Holiday sales rose 7.6%, a slower pace than the 8.5% increase from a year earlier when shoppers began spending the money they had saved during the early part of […]

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U.S. retail sales grows 7.6% in holiday season -Mastercard data

(Reuters) – U.S. retail sales rose 7.6% between Nov. 1 and Dec. 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.FILE PHOTO: People shop on Christmas Eve in Manhattan, New York City, U.S., December 24, 2022. REUTERS/Jeenah MoonThe increase is higher than the 7.1% growth Mastercard had forecast […]

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Japan to consider revising Abe-era deflation fighting mandate – sources

TOKYO (Reuters) – Japan next year will consider revising its decade-old blueprint for fighting deflation, sources said, as financial markets bet that a weak yen and rising consumer prices will force the central bank to finally drop its ultra-loose monetary policy.FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease […]

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Officials: Colorado firm’s alfalfa cubes may kill horses

BATON ROUGE, La. — State and federal officials are warning horse owners not to feed their animals Top of the Rockies brand alfalfa cubes after nearly 100 horses developed neurologic illnesses — 45 of which have died or been euthanized. The U.S. Food and Drug Administration issued the warning Saturday. The agency said it’s working with state agriculture departments in […]

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China's COVID easing seen knocking growth early next year before recovery kicks in

BEIJING/NEW YORK (Reuters) – China’s shift from tough COVID policies, with its promise of driving an economic recovery next year, will instead likely depress growth over the next few months as infections surge, bringing a rebound only later in the year, economists said.FILE PHOTO: People sit outside a cafe after some curbs were lifted as coronavirus disease (COVID-19) outbreaks continue […]

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China central bank says to support growth, sees moderate inflation in 2023

FILE PHOTO: People walk along Nanjing Pedestrian Road, a main shopping area, in Shanghai, China May 5, 2021. REUTERS/Aly SongBEIJING (Reuters) – China’s central bank will focus on supporting the slowing economy, People’s Bank of China Governor Yi Gang said on Friday, adding that domestic consumer inflation is likely to stay moderate in 2023. The central bank’s accommodative policy will […]

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Kroger-Albertsons merger: Congressional hearing gets underway

Claudia Morales, a floral manager at Safeway in Colorado Springs, thought about her two children in high school when she first learned about the proposed merger between Kroger and Albertsons. “What happens if I lose my job? Do they get to go to college? Maybe, maybe not,” she said. The news “dropped on us like a bombshell.” She joined six […]

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Downtown Denver: Law firm signs first lease at 1900 Lawrence office tower

Law firm Gibson, Dunn & Crutcher LLP signed the first lease at a new tower planned to be downtown Denver’s biggest office building in over four decades. The firm is slated to take over the 30th floor of 1900 Lawrence in February 2025 after relocating from its current downtown office at 1801 California St. With completion set for May 2024, […]

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10,500 toddler bottles and cups recalled over lead poisoning risk

By April Rubin, The New York Times A company has recalled about 10,500 bottles and cups for toddlers over lead poisoning concerns to children if a part of the product breaks off, the U.S. Consumer Product Safety Commission said. The base of these bottles and cups, manufactured by Green Sprouts, can come off and expose a solder dot that contains […]

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Musk says he made some Tesla decisions without board nod, defends $56 billion pay

WILMINGTON, Del (Reuters) -Elon Musk said in court on Wednesday that he made some Tesla Inc decisions without the approval of the company’s directors, as he defended his $56 billion pay package against claims that he dictated its terms to a compliant board.Elon Musk, Chief Executive Officer (CEO) of SpaceX, Tesla and Twitter, arrives to a trial regarding his Tesla […]

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