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Major supermarket chain closes at least 39 stores as nationwide overhaul takes shape
Kroger has closed at least three dozen stores since announcing plans last year to shutter 60 locations that were not “delivering sustainable results” by the end of 2026. The Cincinnati-based grocery giant did not release a full list of stores or banners…
New Social Security COLA estimates released after fresh inflation data
Social Security beneficiaries are still expected to see a larger cost-of-living adjustment (COLA) in 2027 than they did this year, though it has decreased as inflation eased in July. By law, the annual Social Security COLA is calculated using the Bureau of…
Tesla files plans for proposed $10.1B Texas solar manufacturing plant
Tesla is planning to build a massive solar cell factory in Texas that it expects to cost $10.1 billion, according to documents the company filed with the state. Dubbed Project Crystal Sun, the site would sit just outside Houston in Fort Bend County, according…
Home Depot CEO takes medical leave of absence
Home Depot CEO Ted Decker is taking a temporary medical leave of absence, the company announced on Wednesday. The home improvement retailer expects Decker, who also serves as chair and president, to return “within the next few months,” according to a Home…
Slowing labor market creates new hurdle for first-time homebuyers facing affordability squeeze
The slowing U.S. labor market is presenting more challenges for a housing sector facing affordability challenges, with would-be homebuyers struggling to save amid persistent inflation and a less dynamic employment outlook. The Bureau of Labor Statistics on…
Novo Nordisk CEO sees ‘long runway’ for weight-loss drugs as obesity grips America
The boom in weight-loss drugs may have transformed the obesity market, but Novo Nordisk’s CEO says the industry is still only scratching the surface with tens of millions of Americans potentially eligible for treatment. Novo Nordisk President and CEO Mike…
Bob Iger, Josh Kushner shockingly purchase Lakers months after Mark Walter became majority owner
Mark Walter’s time as the majority owner of the Los Angeles Lakers is up after less than a year. After purchasing his stake in the organization for a $10 billion valuation in October, the Lakers were sold to American businessmen Josh Kushner and Bob Iger for…
Inflation cooled in July but remained elevated as Fed weighs rate hikes
This story about the July 2026 CPI inflation report will be updated with further details. Inflation cooled slightly in July even as the pace of consumer price growth from a year ago remains elevated, as the Federal Reserve considers a potential interest rate…
Bank of America unveils $250B initiative to modernize US infrastructure
Bank of America (BofA) is launching a $250 billion initiative to finance a broad buildout of U.S. infrastructure, including data centers, semiconductor facilities, power generation and transportation projects. The banking giant announced Wednesday that its…
Meta, other companies must face thousands of lawsuits over child social media addiction, appeals court rules
A federal appeals court refused to dismiss thousands of lawsuits against Meta, Google, TikTok and Snapchat, allowing complaints alleging the platforms were designed to be addictive to young users to move forward. The Ninth U.S. Circuit Court of Appeals…