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Economy

Stay informed with the latest updates on global and local economies, covering growth trends, market shifts, and policies that shape financial landscapes.

Armed suspect with machete, pickaxe detained by customers during Costco jewelry heist: reports

  • August 16, 2026
  • 5:09 PM

Costco customers and employees helped restrain a man accused of an armed jewelry robbery at a South Carolina warehouse store, according to local reports.

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Safeway closing more stores as Albertsons reshapes footprint after failed Kroger merger

  • August 16, 2026
  • 3:39 PM

Albertsons closed 35 stores in fiscal 2025 as the grocer reassesses its footprint and continues opening and remodeling locations after its Kroger deal failed.

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Maker of ice cream sold at grocery stores nationwide files for bankruptcy as it appeals $23.8M judgment

  • August 16, 2026
  • 1:51 PM

Rebel Creamery reported $13.78 million in assets and $23.85 million in liabilities as it appeals a $23.785 million Van Leeuwen judgment.

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New York Fed finds credit card and auto loan delinquencies remain elevated

  • August 14, 2026
  • 8:17 PM

The Federal Reserve Bank of New York reports 4.7% of outstanding consumer debt is delinquent, with credit cards and auto loans at elevated levels.

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200K magnetic ‘Goody King’ building block toys recalled over ingestion hazard that led to surgery for 2 kids

  • August 14, 2026
  • 1:12 AM

More than 200,000 Goody King Magnetic Building Cubes and Blocks sold on Amazon are facing a recall after two children required surgery to remove the magnets.

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Meta taps skilled trades workers to power America’s AI infrastructure boom

  • August 13, 2026
  • 8:10 PM

Meta is teaming up with NABTU to tap a massive skilled labor pipeline as the tech giant ramps up construction and maintenance of AI infrastructure in the U.S.

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Mortgage rates fall for first time in 6 weeks

  • August 13, 2026
  • 5:12 PM

The average rate on a 30-year fixed mortgage fell this week to 6.67%, according to the latest Freddie Mac data released Thursday. That is down from last week's reading of 6.69%.

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Costco brings back fan-favorite Kirkland treat after two-year absence

  • August 13, 2026
  • 4:52 AM

Red bags of Kirkland Signature chocolate chips are back at Costco after rising cocoa prices forced the company to pull them from warehouse shelves in 2024.

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New Social Security COLA estimates released after fresh inflation data

  • August 12, 2026
  • 8:09 PM

Social Security 2027 COLA estimates range from 3.2% to 3.6% after July CPI inflation data showed consumer prices rose 3.4% from a year ago.

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Slowing labor market creates new hurdle for first-time homebuyers facing affordability squeeze

  • August 12, 2026
  • 3:26 PM

High mortgage rates and a weakening labor market are squeezing first-time homebuyers who struggle to save for down payments as wages fail to keep pace with inflation.

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