The Body Shop files for bankruptcy, shuts down all US-based stores

The Body Shop files for bankruptcy, shuts down all US-based stores

The UK-based cosmetics company, The Body Shop, shut down all of its US-based operations and will soon be closing dozens of Canadian store locations after filing for bankruptcy, CNN reported. Earlier this month, The Body Shop, in an official release, announced that its US subsidiary was no longer operational, effective March 1. It further added … Read more

ET Explainer: Why the Fed may dash rate cuts hope

ET Explainer: Why the Fed may dash rate cuts hope

US Federal Reserve chairman Jerome Powell on Thursday rattled financial markets worldwide by saying that the central bank was not yet confident that interest rates were at a sufficiently restrictive level to bring inflation to its 2% target. The statement, which leaves the door open for more Fed rate hikes, yanked five-year US bond yields … Read more

Latest inflation data promising, but still high: Fed’s Goolsbee

Latest inflation data promising, but still high: Fed’s Goolsbee

Federal Reserve Bank of Chicago President Austan Goolsbee said recent consumer-price data showing inflation easing was “promising,” though inflation is still higher than policymakers’ 2% goal. “It’s at least promising that this week we got inflation numbers that show inflation is coming down at a pretty rapid clip,” Goolsbee said Friday in an interview with … Read more

Indices drop for 3rd straight day ahead of inflation data, key IT earnings

Indices drop for 3rd straight day ahead of inflation data, key IT earnings

Ahead of the US inflation report later in the day, investors remained on edge on Dalal Street as equity indices closed in the red for the third straight day on Thursday in a volatile trading session. Index heavyweight , banking and financial stocks were a drag on the indices. The BSE Sensex index ended 147 … Read more

US fuel prices: What is happening with gasoline?

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The United States uses more gasoline than any other nation in the world, and lately Americans have grown concerned about the swift rise in costs at the pump. The White House on Tuesday announced plans to release millions of barrels of oil from strategic reserves in coordination with other nations in hopes of lowering costs. … Read more

​Can digital cash make inflation worse?

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By Andy Mukherjee Inflation is coming. Or wait, it’s already here. Bond investors are looking at the 4.2% annual rate that U.S. consumer prices jumped to in April and wondering if it’s all because of depressed levels from last year. Could it be that the Federal Reserve is wrong about higher prices being transitory? In … Read more