Category: TRENDS ON THE U.S. ECONOMIC FRONT

China has entered its week-long shopping spree called “Golden Week,” and economists will be observing the willingness of shoppers to open their wallets after the country appears to have firm control over its virus outbreak. Beijing has not recorded a locally transmitted symptomatic case since 15 August, and The New York Times reported there seem...

Pepsico reported $2.29 billion in third-quarter net revenue, in part because of stronger sales in Cheetos, Doritos, and other snack foods. The company is struggling to keep up with demand for its new “Cheetos Mac’n Cheese” product, Pepsico said. The company’s Quaker Oats division saw double-digit growth in its pasta and macaroni and cheese dishes....

The price of rental housing continues to decline around the U.S., with San Francisco’s rents falling 20 percent from a year previous, the steepest drop in the country. September’s median price of a one-bedroom flat in the city was $2,380, down 7 percent from August, according to Zumper, an online apartment finder. The price sag...

Through mid-August this year, 29 major retailers had filed bankruptcy, passing the 22 filed last year during the same period, according to BDO, a professional services firm. Clothing and footwear stores felt the brunt of this year’s failures, along with home furnishing and department stores. In the first six months of the year, 18 retail...

American Airlines Group and United Airlines Holdings have begun laying off more than 32,000 workers between them now that federal support for airlines’ payrolls has ended on 1 October. The Disney Co. has announced 28,000 workers temporarily furloughed now will be terminated. Allstate Insurance is cutting 3,800 jobs, about 8 percent of its pre-pandemic labor...