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American Express‘ affluent cardholders are showing few signs of curbing their spending, and younger customers drove growth in first-quarter transaction volumes, Chief Financial Officer Christophe Le Caillec told CNBC. Billed business on AmEx cards rose 6% in the period, or 7% when adjusted for the impact of the leap year, the company reported Thursday, which shows that […]
At the end of a three-hour hearing last month, Senator Ruben Gallego, Democrat of Arizona, sided with a group of Republicans in a hotly contested debate. He voted to advance the GENIUS Act, a bill backed by the cryptocurrency industry. “It’s clear that digital assets are here to stay,” Mr. Gallego said after the Senate […]
US consumer spending for Easter is expected to rise about 5% this year as Americans snap up candy and gifts to celebrate despite concerns around high inflation and economic uncertainty, a National Retail Federation report showed on Tuesday. Shoppers are expected to spend around $23.6 billion this year, compared with $22.4 billion estimated last year, the trade body’s survey showed, with discount stores once again poised to […]
Shoppers cast shadows as they carry their bags along the waterfront in Portland, Maine, U.S, December 26, 2024. Kevin Lamarque | Reuters It’s not just Walmart. The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy […]
Mark Zuckerberg spent all of 2024 telling investors that artificial intelligence would be key to the future of his company, Meta. In 2025, he plans to put his money where his mouth is. On Friday, Mr. Zuckerberg said the company expected its capital expenditures in 2025 to come in at an estimated $60 to $65 […]
A “Keep America Great” hat tops off a Christmas tree at a “Merry Christmas” rally hosted by President Donald Trump at the Kellogg Arena in Battle Creek, Michigan, Dec. 18, 2019. Scott Olson | Getty Images News | Getty Images Black Friday is poised to take on a new tint of red, white and blue […]
November 27, 2024, 1:17pm There are a lot of lackluster traditions for the day before Thanksgiving: hitting your local bar at night, prepping yourself to face your cousin with the bad politics, going toe-to-toe with fellow procrastinators over that last bag of cranberries. I’d like to pitch a new tradition for your day-before-turkey day: stop […]
A Macy’s store is seen at Herald Square on December 11, 2023 in New York City. Michael M. Santiago | Getty Images Inflation may have cooled, but retailers are still staring down a holiday season with plenty of uncertainty. Several hard-to-predict factors will influence consumers’ spending, as they deck the halls and look for the […]
