Rebound In Consumer Spending Fades In July
Consumer spending rose 1.9% last month — but the rebound slowed from May and June. Unemployment benefits continued to prop up spending in July, but that may change in August.
Business
More Space, Please: Home Sales Booming Despite Pandemic, Recession
Despite high unemployment, a severe recession and economic uncertainty, the housing market is on a tear. Sales are booming, and prices hit a record high. Low rates and remote work are driving factors.
Metropolitan Museum Of Art Will Reopen This Weekend
The Metropolitan Museum of Art is scheduled to reopen to the public on Saturday, August 29th. We go behind the scenes to learn how curators and staff hope to pull it off.
Chemical Fire Burns Near Lake Charles, La., In Aftermath Of Hurricane Laura
Smoke is rising over the city from a plant complex that makes chlorine for swimming pools, according to a state official. Residents are advised to shelter in place until further notice.
Fed Prepared To Let Economy Run Hotter
The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.
A Confusing Back-To-School Season May Lead To Blockbuster Spending
Preparing for both in-person and virtual learning has families budgeting for new school supplies like masks and bleach wipes as well as bigger purchases like laptops, speakers, desks and chairs.
Walmart Joins Microsoft In A Bid To Buy TikTok
Walmart cited a potential boost from TikTok to its online presence, including the giant retailer's efforts to grow online advertising and a marketplace for third-party sellers.
New Fortnite Season Will Not Be Available On iPhones, As Judge Sides With Apple
The maker of the popular Battle Royale game is being banned from Apple's App Store after skirting the tech giant's rule that it receive a 30% cut of every purchase.
TikTok CEO Kevin Mayer Resigns Amid Trump Administration's Growing Pressure On App
Mayer, who was on the job as TikTok's chief executive for three months, said while it is the right time for him to step down a "resolution" for the company will happen "very soon."
Financially Vulnerable, Independent Music Venues Worry Of Having To Sell
Independent music venues continue to be among the businesses hardest hit by the global pandemic. The corporate behemoths of concert promotion, however, can weather the storm.