Consumer confidence slips lower in April

Americans waivered in their optimism as they were less confident in their future expectations, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen, a provider of information and analytics around what consumers buy and watch. The indexed slipped to 120.3, down from 124.9 in March. The Present Situation Index decreased from 143.9 in March…

United Airlines just lost $800 million in value

Please buckle up, there’s some turbulence ahead. United Continental has lost about $800 million in total value on Tuesday, the day after a video of a man being dragged off a flight became a major news story. Shares in the company had declined about 3.8 percent in mid-morning trading, a steep drop for a major…

New York budget to target homelessness, affordable housing

New York Governor Andrew Cuomo and the state legislators failed to meet their April 1st deadline for the state’s budget, but announced their final agreement Friday, which includes $2.5 billion in funds to combat homelessness and affordable housing. The final budget came in at $153 billion and even has a plan for tuition-free education at…

Tesla becomes most valuable U.S. car maker, edges out GM

Tesla Inc (TSLA.O) on Monday briefly became the most valuable U.S. car maker, reaching a market capitalization of as much as $51.105 billion, higher than General Motors’s (GM.N). Helped by an analyst’s recommendation, the luxury electric car maker’s stock rose as much as 3.15 percent to a new record high of $313.73, and its market…

Quicken Loans commits $1 million to build up Detroit business

Quicken Loans is one of the biggest companies championing the resurgence of Detroit, consistently dedicating a portion of its funds to the city to bring more life downtown. Detroit Demo Day follows this same mindset to rebuild the city. For this new inaugural event, hundreds of startups will be competing for $1 million, leading up…

Consumer optimism surges due to lowered standards

Consumers continued growing more optimistic in March, however much of the increasing sentiment is due to changed evaluative criteria, according to the Survey of Consumers conducted by the University of Michigan. The Index of Consumer Sentiment came in at 96.9 in March, an increase of 0.6% from February’s 96.3 and 6.5% from 91 in March…

Consumer confidence surges to 16-year high

Consumer confidence leapt forward in March to the highest level in 16 years, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen, a provider of information and analytics around what consumers buy and watch. The Consumer Confidence Index improved significantly in March to 125.6, up from 116.1 in February. The Present Situation Index increased…

US economy adds 235,000 jobs in February

Akin Oyedele Mar 10th 2017 8:37AM The U.S. economy added 235,000 nonfarm payrolls in February, while the unemployment rate dipped to 4.7%, a report from the Bureau of Labor Statistics showed on Friday. Economists had forecast that the U.S. economy added 200,000 nonfarm payrolls in February, according to Bloomberg. Those forecasts were raised on Thursday…

Macy’s just signaled the end of department stores as we know them

Macy’s is morphing into a discount store. The department-store chain is testing self-service systems in its shoe departments and at its beauty counters, meaning customers would serve themselves instead of finding a salesperson to retrieve shoes or make eyeliner recommendations. This model copies highly successful off-price retailers like TJ Maxx and Nordstrom Rack. Customer service…

The average salary of a millennial

If you’re a millennial, it probably won’t shock you to learn that the average salary of a millennial today is an estimated 20% lower than the average salary that a baby boomer had at the same age (in real terms). What’s more, today’s millennials are deeper in debt than their parents were at their age.…

Urban Outfitters sinks after earnings miss

Prashanth Perumal (pjeyathilagar@businessinsider.com) Mar 8th 2017 12:28PM Urban Outfitters’ shares slumped more than 8% on Wednesday morning after its fourth quarter results (for fiscal-year 2017) missed analyst estimates. The company reported earnings per diluted share of $0.55 for the fourth quarter of 2016, missing analyst expectations by a penny, down from $0.61 earned during the…