Retail sales rose 0.4% in April, less than expected as consumers struggle with inflation

A shopper browses shirts at a clothing store in Atlanta, Georgia, US, on Tuesday, Feb. 14, 2023.Dustin Chambers | Bloomberg | Getty ImagesConsumers barely kept up with inflation in April, as retail sales increased but fell short of expectations, the Commerce Department reported Tuesday.The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding auto-related figures, sales increased 0.4%, which was in line with expectations.As the numbers are not adjusted for inflation, the…

Japan’s Rakuten plans new share issue to raise around $2.2 bln   – Reuters News Agency

Business & FinanceDeals15 May 2023, 7:36 pm 1 minute In the latest news on Rakuten’s moves to fortify its balance sheet, Reuters exclusively reported that Japanese e-commerce firm Rakuten was looking to raise around 300 billion yen ($2.2 billion) by issuing new shares to shore up its finances after years of losses from its mobile business. Shares of Rakuten, which were up around 5% in afternoon trade before the May 15 Reuters report, turned negative and ended the day…

Kioxia, Western Digital speed up merger talks as memory chip demand slumps    – Reuters News Agency

Business & FinanceDeals15 May 2023, 7:34 pm 1 minute Reuters exclusively reported that Western Digital and Japan’s Kioxia Holdings are speeding up their merger talks and now nailing down a deal structure as a slumping flash memory market has put fresh consolidation pressure on the world’s no.2 and no.4 chipmakers. Under the plan now being worked out, the merged entity would be 43% owned by Kioxia, 37% by Western digital and the rest by existing shareholders of the…

Turkey faces election runoff, Erdogan seen with momentum   – Reuters News Agency

Government15 May 2023, 7:28 pm 1 minute Reuters led reporting of the Turkish presidential elections, from initial reports showing President Erdogan’s comfortable lead to the subsequent local news of his lead dropping below 50%, making a runoff likely. With Erdogan facing the most credible challenge to his power in two decades, markets were watching the results closely. The lira and stock markets fell sharply as Erdogan’s position went against polling results in the runup…

Crypto companies are playing poker with the SEC as agency cracks down on the industry

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry.Roman Strelchenko | 500Px Plus | Getty ImagesCryptocurrency companies are playing a game of poker with the Securities and Exchange Commission, making bold threats to leave the U.S. as the regulator steps up pressure on the industry to toe the line.Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously…

Startup Telly Offers You a Free 55-inch TV in Exchange For Constant Ads

A new startup wants to give you a free 55-inch TV with an integrated soundbar. The catch? You'll need to be willing to fork over your privacy, be filmed by a built-in camera, and endure an endless barrage of ads in order to get the device. Telly, founded by Ilya Pozin -- the co-founder of Pluto TV -- announced Monday that it has opened a waitlist for its free dual-screen TV. The second, smaller screen sits below the main TV and soundbar and acts as a display for ads and widgets. While ads will stay out of the way while…

Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more

People queuing outside Shake Shack in London. Latest Covid-19 lockdown slams UK business owners.SOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines in midday trading.Shake Shack — The fast food chain's stock jumped more than 6% after the Wall Street Journal reported that activist investor Engaged Capital is planning a proxy fight for three board seats at the company. Engaged Capital bought a 6.6% stake in Shake Shack, including swaps. The stock has rebounded more than 60% this year.Magellan…

Obesity Drugs Plus Surgery Add Up to More Weight Loss: Study

May 11, 2023 – They’re both popular ways to lose weight. Anti-obesity medications like semaglutide (Wegovy) and liraglutide (Saxenda) are in such high demand that drugmakers sometimes report shortages. And gastric sleeve surgery – a procedure that shrinks stomach size by up to 80% – remains the most common intervention for weight loss. Research shows both strategies can lower total body weight, but little is known about what happens when you combine them.Is it better to take weight loss medication first, and then reduce…

A Brief History of Debt Ceiling Crises

There have been numerous fiscal crises in the United States where Congress has either failed to pass a budget on time or there were doubts that the federal debt ceiling would be raised, which could cause the U.S. to default on its debt.These two kinds of crises can sometimes play out at the same time. A federal budget was not adopted in time, for example, and there were threats of not increasing the debt ceiling.I worked as the deputy director of the Congressional Budget Office and the executive director of the National…

Cuteness Alert: Kapil Sharma’s Daughter Anayra Blows Kisses At The Audience As She Walks The Ramp

<!-- -->Kapil Sharma walks the ramp with daughter Anayra.New Delhi: It was a sight to behold as comedian Kapil Sharma walked his adorable three-year-old daughter Anayra down the ramp at Beti Fashion Show on Sunday. The comedian who got married to Ginni Chatrath in 2018, gave birth to Anayra in 2020. The father-daughter duo walked the ramp in style, wearing matching black outfits. However, it was Anayra, who stole the show as she blew kisses at the audience and smiled widely as she walked the ramp holding her…