Tag: Market News (Page 1 of 633)

Daily Market News.

Kroger is Now Making Painful Closures of Its Clinics

Kroger is now making painful closures of its clinics in the state of Virginia without giving any indication as to why these shutters are occurring.

The grocery chain announced that a total of four clinics in Virginia will be closing Friday, but did not give any reasons for the closures.

There are a total of 225 Little Clinics in Kroger stores nationwide, however, these four are the only ones that are closing.

In a statement to the Richmond Times Dispatch, Kroger said it was a “difficult decision” to close the four locations.

A Kroger representative called it a business decision based on many factors and referred back to the initial statement.

Patients with questions about their medical records can call (877) 852-2677.

It is unclear whether or not files will be moved to a new location.

The U.S. Sun reports that they have reached out to Kroger for comment.

The shutdown comes right after the chain announced it was changing its BOGO policy.

Many shoppers claimed that now, to get the deal, two items are needed.

“Heads up: Kroger has changed their BOGO policy,” one shopper wrote in a Facebook post.

“Must buy two to get the discount.”

“Most other stores don’t require that. Hate that,” she added.

The frustrated customer continued to note that she would no longer be heading to her nearest Kroger because of the policy change.

Other frustrated customers backed up the user’s story.

“Just had this experience!” exclaimed someone else.

“Saw BOGO Mars ice cream bars. Tried to buy only one. It rang up as full price.”

“Asked a cashier who confirmed you must buy 2,” they remarked.

Kroger responded to the complaints, promising Jill and the other customers that their concerns would be passed to its Internal Teams “for review.”

The retailer also emphasized its continued efforts to save shoppers money through coupons and other perks.

“We offer our customers many ways to save, including digital coupons, cash back offers, our many sales/promotions, as well as fuel points to save at the pump,” Kroger noted.

For more layoff news, store closure news, and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - Kroger is Now Making Painful Closures of Its Clinics.
Market News Today – Kroger is Now Making Painful Closures of Its Clinics.

Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.

First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.

Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.

That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.

The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.

US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.

Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.

Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.

“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”

Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.

The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.

While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”

Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”

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Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia

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Market News Today - Kroger is Now Making Painful Closures of Its Clinics.
Market News Today – Kroger is Now Making Painful Closures of Its Clinics.

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A Dessert Company Now Makes A Surprising Closure in Georgia

A dessert company now makes a surprising closure in Georgia after over 15 years at the iconic location, sources report.

Peterbrooke Chocolatier is shutting down its popular spot in Atlanta after over 15 years of serving its community at that location.

The business, run by Geoffrey Wilson and Scott Gottuso, announced the Peachtree Forum location’s closure with a statement on Facebook.

“It is with a bittersweet heart that we announce our closing at The Forum in 30 days,” the store said on June 27.

“As we prepare to say goodbye, we invite you to follow us for amazing discounts and promotions as we clear our inventory.

We want to thank all of our loyal customers for the sweet memories and support over the years,” they continued, asking customers to share their favorite memories of the shop in the comments section.

Fans of the store shared their sadness at the closure in the post’s replies as many shared nostalgia for sweet moments at the dessert store.

“I hate to hear this. Love this location and the people who have made it special for many years!!” one wrote.

“We will miss you! We have so many fond memories going way back. Thank you for bringing so much joy and sweetness for so long!” another shared.

“Lots of ppl will miss you!! From moms night out chocolate making to kids summer camps, lots of good memories at your shop,” a third reminisced.

The dessert shop sells European-style chocolate treats as well as gelato and gift baskets. The store is known for its chocolate popcorn and hand-dipped chocolate-covered strawberries.

After the sole Georgia location closes, the dessert company will still have 25 open locations across the states of Florida and Alabama.

As Peterbrooke Chocolatier Atlanta at the Forum’s last day of business is on July 25, the location is holding a huge sale before it closes its doors forever.

Customers can get discounts from 50% to 75% off most items at the store from July 16 until the 24th.

“This is your last chance to grab your favorite products at unbeatable prices,” the store shared.

“From Oreos to Sipping Chocolate. Sale excluding: Popcorn, Containers, Decorations, Fruit, and Macaroons.”

For more layoff news, store closure news, and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - A Dessert Company Now Makes A Surprising Closure in Georgia.
Market News Today – A Dessert Company Now Makes A Surprising Closure in Georgia.

Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.

First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.

Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.

That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.

The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.

US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.

Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.

Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.

“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”

Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.

The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.

While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”

Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”

For more news and updates like this, opt-in for push notifications.

Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia

Market News Published Daily 📰

Market News Today - A Dessert Company Now Makes A Surprising Closure in Georgia.
Market News Today – A Dessert Company Now Makes A Surprising Closure in Georgia.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Our readers can now donate $3 per month to support independent journalism.

For daily news and updates on your favorite stories, opt-in for push notifications.

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A Massive US Bank Has Now Misled Customers in New Lawsuit

A massive US bank has now misled customers in a new lawsuit that alleges the company misrepresented its performance.

A former Green Dot employee alleged Monday that company leaders misrepresented how an important line of business was performing while also knowing about issues that would lead to an expensive Fed investigation.

Leaders at Green Dot concealed critical information about the bank’s declining prepaid card business from shareholders and its customers even though it was core to the firm’s bottom line, former employee and current shareholder Dino DiBlasio alleged in a lawsuit Monday.

The former director of quality engineering also alleged that the executives and directors knew that the firm’s anti-money laundering controls weren’t up to snuff but continued to operate with them anyway, eventually landing Green Dot a costly consent order from the Federal Reserve.

Franknez.com has been reporting the fraud behind the bank that has left retirees without money from various scam and phishing reports.

In keeping such information under wraps, founder and former CEO Steven Streit and former chief financial officer Mark Shifke inflated Green Dot’s price “long enough to sell $62 million dollars of their own Green Dot shares at artificially inflated prices,” according to the lawsuit.

This stock market manipulation is known as a “pump and dump”, usually performed by insiders.

Also named in the lawsuit are directors Jeffrey Osher, Ellen Richey, William Jacobs, Saturnino Fanlo, George Shaheen, Peter Feld and J. Chris Brewster; former directors Kenneth Aldrich, Rajeev Date, and Glinda Bridgforth Hodges; former CEO Dan Henry and current CEO George Gresham.

The complaint was filed Monday in the District Court for the Central District of California.

Green Dot, which is perhaps best known for its digital banking partnership with Walmart, is the world’s largest prepaid debit card company.

It sells its prepaid cards at nearly 100,000 retailers nationwide, including CVS and Dollar Tree, and also operates a banking-as-a-service platform and has a number of co-branded card partnerships.

For more U.S. Bank news and updates, opt-in for push notifications.

Also Read: A Massive US Bank is Now Closing Credit Cards

Other Economy News Today

Market News Today - A Massive US Bank Has Now Misled Customers in New Lawsuit.
Market News Today – A Massive US Bank Has Now Misled Customers in New Lawsuit.

A banker is now convicted for stealing money from customers while working at Bank of America over a 10-year period.

The personal banker was arrested after her years-long scam, resulting in nearly $300,000 being stolen, came to light.

Police in Seneca, South Carolina said they received a report in 2013 about missing money from an account with Bank of America.

The victim, who also reported the incident to the Customer Service department, told police he was missing around $30,000.

Investigators worked with Bank of America for several weeks after the crime was reported and learned that an employee who had been stealing money from several people in Oconee County.

The police said the victims would use the Bank of America location in Seneca as their primary bank and Bobbi Cortese was their personal banker.

Seneca Police investigators and the US Secret Service spent nearly a decade doing more interviews.

Meanwhile, Bank of America was given time to complete an internal investigation.

It was revealed that Cortese had stolen nearly $300,000 from four people while working at the bank.

Some of the money was in the victims’ bank accounts for life insurance payouts related to the deaths of their spouses.

Others had a lifetime of earnings that was supposed to be used for their retirement, said police.

Cortese would open accounts under the victims’ names without their knowledge or consent and would perform a “shell game.”

This is when a scammer uses the money from one victim to replace what she stole from another victim.

After investigating further, police said Cortese forged several documents and issued them to the victims to hide the theft.

She committed these acts for about four years while working at the Bank of America, said police.

Cortese was arrested in May 2023 and charged with four counts of breach of trust and two counts of forgery.

She was later fired by the bank, reports The-Sun.

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Also Read: A Massive Bank Now Freezes Money From Direct Deposits

Market News Published Daily 📰

Market News Today - A Massive US Bank Has Now Misled Customers in New Lawsuit.
Market News Today – A Massive US Bank Has Now Misled Customers in New Lawsuit.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Our readers can now donate $3 per month to support independent journalism.

For daily news and updates on your favorite stories, opt-in for push notifications.

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A Beloved Grocery Chain Now Makes Painful Closures in Mass.

A beloved grocery chain now makes painful closures in Mass., affecting a total of eight locations, leaving shoppers mourning the loss.

Customers say the closures of Stop & Shop stores will leave them with few alternatives for where to shop.

A total of eight Stop & Shop stores in Massachusetts are due to close before the end of the year.

These are part of the total 32 locations that have been forced to shut down across the Northeast.

It was announced in May that underperforming stores will close by November 2.

“Everyone’s at Aldi,” one Facebook user wrote.

Stores in Worcester, Massachusetts – less than an hour’s drive from Boston – have been a key shopping destination for residents.

People have expressed worries about the impact these planned closures may have on residents in the community.

“Residents are concerned,” said Jennifer Pacillo, a District City Councilor.

She acknowledged that there is an Aldi residents can go to instead, but stressed that “it is not a full-service grocery store… people deserve access to healthy free foods.”

“Like many others, I was caught off guard by the news that Stop & Shop would be closing its doors for good,” said Alex Corrales, a Housing Authority CEO in Worcester.

Councilors and residents in the area are hoping that Stop & Shop’s decision to close their stores is not final.

“I certainly do understand that we can’t control sometimes what these corporations do, but I do think it’s worth talking to Stop & Shop,” said Candy Mero-Carlson, another District City Councilor in Worcester.

The grocery store has been described as an employer for the city.

The Stop & Shop chain is operated by Ahold Delhaize, a multinational food retail group.

The CEO of the group, JJ Fleeman, said Stop & Shop is making “difficult decisions to close underperforming stores to create a healthy story base for the long term.”

According to him, the chain “is not where we want to be or need to be”.

The grocery store has remodeled almost half of its close-to 400 stores since 2018, but this does not appear to have done enough to prevent store closures, per The Sun.

As well as Massachusetts, New Jersey, New York, Connecticut and Rhode Island are also facing Stop & Shop closures this year.

For more layoff news, store closure news, and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - A Beloved Grocery Chain Now Makes Painful Closures in Mass..
Market News Today – A Beloved Grocery Chain Now Makes Painful Closures in Mass..

Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.

First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.

Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.

That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.

The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.

US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.

Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.

Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.

“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”

Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.

The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.

While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”

Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”

For more news and updates like this, opt-in for push notifications.

Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia

Market News Published Daily 📰

Market News Today - A Beloved Grocery Chain Now Makes Painful Closures in Mass..
Market News Today – A Beloved Grocery Chain Now Makes Painful Closures in Mass..

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Our readers can now donate $3 per month to support independent journalism.

For daily news and updates on your favorite stories, opt-in for push notifications.

Follow Frank Nez on X (Twitter)Instagram, or Facebook.


Support Independent Journalism ✍🏻

Support independent journalism for just $3 per month!

Your contributions help power Franknez.com as the cost of widgets and online tools continue to rise.

Thank you for your support!



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