MoneyWatch

Food pantries across the U.S. say they’re struggling to meet demand as the rising cost of groceries is forcing more Americans to opt for donated meals. A recent survey from Feeding America, a nonprofit network of 200 food banks, found that 155 food pantries reported a jump in families coming to their …

Target reported solid sales for the fiscal second quarter, but profits plunged nearly 90% after the retailer was forced to slash prices to clear unwanted inventories of clothing, home goods and other discretionary items. In early June, Target warned that it was canceling orders from suppliers and aggressively cutting prices …

The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength. Applications for jobless aid climbed by 14,000 to 262,000 and have now risen five out of the last six weeks, …

Elon Musk has sold nearly $7 billion worth of shares in Tesla as the tech mogul gets his finances in order ahead of a court battle with Twitter. The billionaire disclosed in series of regulatory filings that he unloaded about 8 million shares of the electric vehicle maker in recent days. …

PetSmart touts its program training people how to groom animals as free, but enrollees contend it mostly involves on-the-job training and leads to thousands of dollars of debt if they don’t stick out the program for two years, according to a class-action lawsuit. PetSmart workers groom more than 13 million …

Jay Carney, the top policy and communications executive at Amazon and one-time White House spokesman, has been named the head of policy at Airbnb, marking another high-profile departure for Amazon as it faces a shifting consumer landscape and heightened regulatory scrutiny. Carney, who served as the press secretary for President …

Big Olaf Creamery is recalling its ice cream products as officials investigate an outbreak of listeria that has killed one person and hospitalized 22 others.  The Sarasota, Florida-based company on Tuesday recalled all Big Olaf brand ice cream, which was sold at Big Olaf retailers, restaurants and nursing homes in …

Hundreds of off-duty Delta Air Lines pilots plan to picket this week, demanding a pay increase and that the carrier change their schedules to reduce flight disruptions.  The Air Line Pilots Association said in a statement Monday that its nearly 14,000 members are working longer hours even as the airlines …

Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection after being weighed down by debt load, disruptions to its supply chain network and surging costs. The New York-based company said it expects to receive $575 million in financing from its existing lenders, which will allow it …

Wells Fargo has suspended a hiring policy that required managers to interview diverse candidates before offering someone a job, the banking giant confirmed to CBS MoneyWatch. “Since The New York Times published a story last month about diverse job candidate slates at Wells Fargo, I’ve had the opportunity to hear from …