>>Stocks Close Mixed Ahead Of Key Inflation Data
(New York, NY) -- Wall Street closed mixed Monday ahead of this week's key inflation data. Stocks waivered after opening higher as investors await the start of second-quarter earnings season in the coming days. Thursday's release of the consumer price index may improve the chances of Fed rate cut if the reading shows improvement in June. At the closing bell, the Dow Jones Industrial Average lost 31 points to 39-344. The S&P 500 added 5 points to 55-72, a new record close. The Nasdaq gained 50 points to 18-403, also a record.
>>Boeing In Talks With Pentagon Over Guilty Plea
(Arlington, VA) -- Boeing is in talks with the Defense Department about how the aircraft maker's guilty plea could impact its massive government contracts. The Justice Department announced this week that Boeing agreed to plead guilty to a conspiracy fraud charge over an investigation into two fatal 737 MAX crashes in 2018 and 2019 that left more than 300 people dead. The plea could cause problems with the company's ability to secure government contracts, a key part of its business worth billions.
>>Hyundai Accused Of Inflating Sales Figures
(Chicago, IL) -- A number of Hyundai dealers are suing the South Korean carmaker, claiming the company inflated sales for electric vehicles and punished dealers that wouldn't participate in the deception. The lawsuit, filed in Chicago, said Hyundai put pressure on dealers to misuse inventory codes to make it seem like more EVs were being sold. The suit goes on to say that those who cooperated were given price discounts and other rewards. The company is accused of hyping up its sales numbers for investors.
>>Prevalence And Sophistication Of Online Romance Scams Increasing
(New York, NY) -- Consumers lost over a billion dollars to romance scams in 2023. That's according to the Federal Trade Commission. The FTC found that about 40-percent of people who said they lost money to a romance scam in 2022 said the contact started on social media. Median losses per person amounted to two-thousand dollars, and almost three-quarters of those who had scammed were men. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal. If you suspect a romance scam you can report it to the FTC at ReportFraud.ftc.gov, or by contacting the F.B.I.
>>Target To Stop Accepting Personal Checks
(Minneapolis, MN) -- Target will soon stop accepting personal checks as payment. The retail giant says the policy takes effect starting July 15th and noted stores will still accept cash and digital wallet payments along with debit and credit cards. Target said the decision was due to "extremely low volumes" of checks being written, adding that it remains committed to creating an easy and convenient checkout experience.
