Tag Archives: MoneyWatch

Bumble will lay off roughly 30% of its workforce, or 240 employees, according to a regulatory filing filed by the online dating company on Wednesday.  The jobs cuts come as the company moves to reduce costs and refocus on growing its customer base. Bumble estimates the layoffs, which are slated to …

The dream of homeownership is fading for millions of Americans.  Figures from the National Association of Realtors (NAR) show that only 24% of housing sales last year were by first-time homebuyers — that’s down from 50% in 2010. The typical purchaser is also older than in the past, with an …

Some small business owners say they are pulling back on hiring as tariff-driven cost increases make bringing on new employees an untenable proposition. As they bear added expenses on imported inputs and goods, companies are looking to trim costs wherever possible, including labor. That can mean pressing pause on hiring, cutting …

Victoria’s Secret has taken down its U.S. website and says some in-store services will also be unavailable as it addresses an unspecified “security incident.” A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating that the Ohio-based company had halted these operations “as …

President Trump’s decision to delay a 50% tariff on goods from the European Union led to a Wall Street rally on Tuesday, with the major indexes closing higher. The S&P 500 climbed 119 points, or 2.1%, to close at 5,922 points, while the Dow Jones Industrial Average gained 741 points, …

Overseas shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets calmed somewhat after the shocks from President Trump’s tariff hikes. The modest rebound for most markets followed a wild day on Wall Street, where stocks careened after …

Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of the casual dining brand after closing many of its branches this year. The Dallas-based company filed for Chapter 11 bankruptcy protection in a Texas federal court. TGI Fridays Executive …

While most of us will only dream of ever receiving a sudden financial windfall, one lucky Powerball player purchased a winning ticket to Wednesday’s estimated $1.08 billion jackpot, lottery officials said. Though the sums aren’t as hefty, money received from an inheritance, business sale or big bonus at work are more …

Inflation dipped in June to its slowest pace in more than 2 years, indicating price increases are cooling amid the Federal Reserve’s rate-hiking regime.  The Consumer Price Index grew at an annual rate of 3%, the Labor Department said on Wednesday. Economists had expected a 3.1% increase, according to FactSet. The …

After the Supreme Court reversed President Biden’s student-loan forgiveness plan, critics of the decision are pointing to other recent examples of the government forgiving debt —many with far larger amounts of money than at stake than in the student loan plan. In particular, the Paycheck Protection Program has so far …