President Donald Trump has warned of economic and financial Armageddon if Joe Biden and the Democrats retake the White House next year. But history paints a very different story. Both the stock market and the real economy tend to do better when Democrats, not Republicans, are in charge. Since 1945, the S&P 500 has averaged…… MORE
A closely-watched gauge of economic health is flashing a warning in Europe, indicating that the budding economic recovery is running into trouble. What’s happening: The latest reading of the composite Purchasing Managers’ Index for Europe from IHS Markit, which tracks the manufacturing and services sectors, came in at 50.1 for September, a three-month low. While…… MORE
The upcoming holiday shopping stretch will look much different for retailers in a pandemic. Instead of preparing for door-busters on Black Friday and frenzied shopping in stores before Christmas, many retailers and shipping companies are beginning to staff up in anticipation of a flood of online delivery and curbside pickup orders. Walmart, which has already…… MORE
Nike beat analysts’ revenue expectations for its first fiscal quarter by more than $1 billion Tuesday, signaling the sportswear giant is making a healthy comeback from the pandemic. The company reported diluted earnings per share of $0.95 for the three months ended August 31. Revenue was $10.6 billion, down 1% year-over-year. Wall Street analysts had…… MORE
CEOs and union leaders joined together Tuesday to plead with Congress for another $28 billion in federal help for the battered airline industry, saying that 100,000 good paying jobs in the industry will be lost next week without the help. The joint event in the shadow of Capitol Hill comes at a time of rising…… MORE
Elon Musk ended Tesla’s big battery event Tuesday evening with some big promises about the pricing of Tesla’s future cars and the announcement of a new ultra-fast version of today’s Model S. After reviewing improvements in Tesla’s own battery designs and manufacturing advancements that could result in huge reductions in battery costs, Musk promised a…… MORE
This year has been far from sweet, so Reese’s is embracing its salty side by adding pretzels to its peanut butter cups. Reese’s new peanut butter cups are filled with pretzels. The Hershey’s candy brand, which launched “breakfast cakes” last month, introduced the newest addition with the slogan: “The hell with it. It’s 2020.” The…… MORE
The housing market is red hot thanks to record-low mortgage rates and consumers looking to flee cities for the suburbs. But offices, shopping malls and other commercial real estate properties have been hit hard by the coronavirus pandemic. The rise of Zoom, Slack and other productivity tools has made it easier for people to set…… MORE
America’s love for chicken wings has only grown during the pandemic. And big restaurant chains from Applebee’s to Domino’s want in. Shares of Wingstop, a chicken wing chain with nearly 1,300 restaurants nationwide and roughly 160 locations abroad, have popped nearly 60% this year. Morningstar restaurant analyst R.J. Hottovy said in a report last week…… MORE
The city of Tel Aviv is working on creating wireless electric roads to charge and power public transportation in the city. The electric roads are part of a pilot program led by the Tel Aviv-Yafo Municipality in collaboration with ElectReon, a company developing a system that can charge electric vehicles while they are moving, and…… MORE
