2023 Target Completion Date Kellogg’s (K) plans to split itself into three independent companies in tax-free spinoffs. This is anticipated to be completed by the end of 2023. The move will carve out snacking from cereal, as well as establish a stand-alone plant-based business. Kellogg’s Chief Executive Steve Cahillane expects [...]
India-Based Online Retailer Walmart (WMT) is betting on Flipkart, a $37.6 billion e-commerce company based in India, to advance its competitive advantage against rival Amazon (AMZN). The US retailing giant owns 75% of Flipkart which, like Amazon, offers a diverse range of products from a variety of suppliers. While the [...]
Economic Data Today be on the lookout for May’s existing home sales, released by the National Association of REALTORS®. In April the number fell 2.4% from March, the third straight monthly decline. Year-over-year sales were down 5.9%. Inventory of unsold homes increased and the median average price climbed 14.8% over [...]
Bain Capital Led Round Wonder Group snagged $350 million last month in a Bain Capital led funding round. In total, the food-delivery start-up has raised $900 million, translating to a $3.5 billion valuation. The cash infusion comes amid a general contraction in the availability of venture capital. Rising interest rates [...]
Pop’s Salary It’s a tight labor market and wages are on the rise. That said, many Americans’ paychecks are failing to keep up with the cost of living amid record-high inflation. With Father’s Day upon us, DebtHammer conducted a survey surrounding the economics of dad. When asked what dad should [...]
Celebrate June 19, 1865 Juneteenth is a federal holiday, marking the day enslaved Americans in Galveston, Texas, finally received word that they were free. It will be officially observed on the 19th of the month. Since the date falls on a Sunday this year, markets will be closed on Monday [...]
A happy and productive workforce is the lifeblood of any business, but new research shows that increased financial stress may directly impact employees’ productivity. SoFi at Work’s 2022 study The Future of Workplace Financial Well-Being finds that employees spend over nine hours a week at work dealing with issues related [...]
Tick, Tick, Boom These are historic times. We got another piece of data yesterday, but the puzzle is still not solved. The Federal Reserve raised its benchmark policy rate by 75 basis points to an upper bound of 1.75%. We haven’t seen a hike of this size since 1994. Just [...]
Rivaling TikTok Tech companies are in a battle to win within the short-form video category. Found on apps like TikTok and Meta Platform’s (META) Instagram, shorter videos are becoming social media’s most-watched type of content. Alphabet’s (GOOGL) Google is new to the short video game, having launched YouTube Shorts less [...]
The Hike With inflation at 8.6% per May’s CPI, the highest level since 1981, the Fed hiked its target rate by 75-basis-points. That’s the largest increase since 1994. The Federal Reserve’s Effective Federal Funds Rate guides what banks and lending institutions charge each other to borrow money. The move is [...]
