Business News

AM Business Notebook

>>Consumers Expect Inflation, Spending To Cool Over Next Year (New York, NY) -- Consumer expectations for inflation over the next year are dropping. A New York Federal Reserve survey shows the one-year inflation outlook fell to five-percent, the lowest level since July 2021. The figure represents progress in bringing down costs, but is well above the Fed's goal of two-percent annual inflation. Household spending fell to just under six-percent. Meanwhile, consumers expect gas prices to increase by more than four-percent and food prices to rise seven-point-six percent over the next year, a slight decline from November.

>>SEC Charges Ex-McDonald's CEO (Washington, DC) -- A former CEO Of McDonald's is facing charges. The Securities and Exchange Commission has charged Stephen Easterbrook with making false and misleading statements to investors about the circumstances leading to his termination in November 2019. The Chicago-based fast food giant was also was charged for shortcomings in its public disclosures related to Easterbrook's separation agreement. The SEC says McDonald's and Easterbrook entered into a separation agreement that concluded his termination was without cause, which allowed him to retain substantial equity compensation that otherwise would have been forfeited.

>>Goldman Sachs To Lay Off Up To 3,200 Employees (New York, NY) -- Goldman Sachs will reportedly start cutting up to 32-hundred jobs this week. It's the latest big Wall Street firm looking to trim costs in response to a slowdown in investment banking. The layoffs represent about six-and-half percent of Goldman's 49-thousand employees. The bank declined to comment on the report.

>>Party City Preparing For Bankruptcy (Woodcliff Lake, NJ) -- Party City is preparing to file for bankruptcy. That's according to a report by Bloomberg, which cited people with knowledge of the situation. They said the party supply chain will likely miss an investor payment next month. The store saw disappointing sales during the key Halloween season and has been hit by a helium shortage and supply chain issues. Party City was founded in 1986 and has over 800 stores in the U.S. Source Staff/acc Copyright © 2023 TTWN Media Networks Inc.

On Air Now

KBND Morning News
KBND Morning News
6:00am - 9:00am
KBND Morning News

FlashAlert

KBND ON FACEBOOK

News Disclaimers