Business

The U.S. Federal Trade Commission (FTC) on Wednesday sued the operators of LA Fitness for allegedly making it "exceedingly difficult" for customers to cancel their memberships.Fitness International and Fitness & Sports Clubs, which operate gym chains, including LA Fitness, Esporta Fitness, City Sports Club and Club Studio, have illegally charged hundreds of millions of dollars in recurring fees through difficult cancellation procedures, according to the complaint."Gym cancellations have been hard […]

The minutes of the Federal Reserve's July meeting released on Wednesday showed that policymakers were more concerned about the risk of inflation from the impact of tariffs than the labor market as they debated interest rate policy.The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions, voted 9-2 to leave the benchmark federal funds rate unchanged for the fifth straight meeting at a range of 4.25% to […]

Michael Fiddelke will take the helm as Target’s CEO and join its board of directors in February, more than 20 years after starting his career with the retail giant as an intern.Fiddelke currently serves as chief operating officer for the Minneapolis-based retailer. He will succeed longtime CEO Brian Cornell Feb. 1, 2026, after the company's board unanimously elected him to the role, Target announced Wednesday.TARGET NAMES NEW CEO AS RETAILER FIGHTS […]

New York State Assemblyman Zohran Mamdani is holding on to a sizable lead in the New York City mayoral race, prediction markets data shows.Mamdani, the self-described socialist who prevailed to secure the Democratic nomination for the Big Apple's mayoral race this fall, has an 81% chance of winning the election this November, according to data from Interactive Brokers reviewed on Wednesday afternoon.Over the last week, Mamdani's odds have remained above 75% […]

Bed Bath & Beyond’s Executive Chairman Marcus Lemonis announced on Wednesday that the company won't open or operate retail stores in California, saying the decision "isn’t about politics – it’s about reality." Lemonis said in a statement posted on X that the decision was driven by the fact that the company wouldn't be able to sustain operations in the state due to higher taxes, higher fees and higher wages coupled with […]

McDonald's franchisees will cut the cost of combo meals to revive the chain’s image as an affordable option at a time when many consumers are keeping a close eye on their wallets.After weeks of discussions, McDonald’s and its U.S. franchisees agreed to keep the cost of eight popular combo meals 15% lower than if the items were bought separately, according to company materials seen by The Wall Street Journal. The […]

President Donald Trump this week launched twin attacks on social media against Federal Reserve Chair Jerome Powell and Federal Reserve Governor Lisa Cook.On Tuesday, Trump said Powell is "hurting" the housing industry as he repeated his call for the Federal Reserve to cut interest rates. Trump's latest attack comes ahead of Powell's Friday speech at the annual Jackson Hole central banking symposium."Could somebody please inform Jerome ‘Too Late’ Powell that he […]

President Donald Trump on Wednesday called for the resignation of a Federal Reserve governor after one of his allies submitted a referral requesting that she be investigated for mortgage fraud.Federal Housing and Finance Agency (FHFA) Director Bill Pulte on Wednesday posted a copy of a referral he sent to the Department of Justice regarding mortgage fraud allegations against Federal Reserve Governor Lisa Cook. The news was first reported by Bloomberg.Trump […]

Federal Reserve Chair Jerome Powell will deliver a keynote address at the annual Jackson Hole event on Friday at a crucial time as the economy anticipates the central bank's next interest rate cut and as his tenure at the helm of the Fed winds down.Powell's speech in the spotlight at Jackson Hole is expected to be his last as Fed chair, as his term expires in May 2026 and President Donald Trump […]