MONEY (MSM)
A fairly stronger pace of consumer spending than previously estimated accounted for much of the upward revision to GDP. Consumer spending, which accounts for more than two thirds of U.S. economic activity, was raised to a 2.1 percent growth pace from the 1.8 percent rate reported last month. With personal savings increasing at a robust $720.2 billion pace as more Americans get a paycheck, consumer spending could accelerate in the
Ikea’s U.S division is raising the minimum wage for the second year in a row as the Swedish ready-to-assemble furniture chain looks to improve its relations with workers and reduce worker turnover. Starting …
It was unclear how much money Wal-Mart would receive as a result of the changes. For instance, Wal-Mart is seeking to charge a food supplier 10 percent of the value of inventory shipped to new stores and to new warehouses, both one-time charges, and 1 percent to hold inventory in existing warehouses, according to a copy of amended terms seen by Reuters.
U.S. stocks fluctuated, after two days of gains brought equities near a record Tuesday, as Greek debt talks dragged on and investors weighed data on the U.S. economy. Monsanto Co. dropped 4.3 percent as it plans to cut costs amid low crop prices. Staples Inc. and Office Depot Inc. fell more than 2.2 percent on concerns about regulatory approval for their merger.
The Senate is preparing to hand President Barack Obama a major victory with final passage of “fast track” authority to negotiate trade deals. Doing so would cap a remarkable turnabout for an …
Greece’s leader was trying to bridge differences with creditors Wednesday on a plan to make more reforms in Greece in exchange for bailout loans the country needs to avoid a potentially disastrous default.
Now it’s a Greek freak out. Stocks falling on word creditors have nixed the latest proposal by Greece to deal with its financial woes. Plus, the U.S. economy didn’t stumble as much as we thought in the first quarter. And building a better workforce. Ikea boosts pay after seeing higher salaries improved business.
U.S. stocks zigzagged on Tuesday as traders parsed through disappointing durable goods data, and an upbeat reading on the housing market.
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European equities were trading higher Tuesday as the countdown to a potential debt deal between Greece and its creditors begins.
