Federal Reserve cuts its key interest rate by a quarter-point on heels of election
The interest rate cut follows a larger half-point reduction in September, and it reflects the Federal Reserve's continued focus on supporting the job market and battling inflation.
TGI Fridays files for bankruptcy: Details
According to the filing, the company is exploring options to remain in business while keeping 39 of its restaurants open.
A closer look at how Trump's economic plan could impact inflation
Former President Donald Trump has vowed to eliminate inflation if he returns to office, but economists warn that his proposed policies, including high tariffs, mass deportations, and interference with the Federal Reserve, could worsen the issue.
Holiday spending projected to hit new record this year
Notable differences this year include the shopping period between Thanksgiving and Christmas being nearly a week shorter, and the economic impact of Hurricanes Helene and Milton.
Walgreens to close 1,200 stores, likely including locations in NY, NJ, CT
Walgreens will close nearly 1,200 locations over the next three years in response to a $3 billion quarterly loss and ongoing challenges in its U.S. retail and pharmacy sectors. Here’s what stores the company says are closing.
Inflation reaches lowest point in 3 years; here's what prices came down most
The improved inflation stats show that it’s steadily moving back to the Federal Reserve’s 2% target, with the agency likely to keep cutting its standard interest rate in 2024.
Here’s how much money is needed to be considered middle class in NY, NJ, CT
How much money does it take for a household to be considered middle class in New York, New Jersey and Connecticut?
Dockworkers' union to suspend strike until Jan. 15: What's next?
The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports reached a deal Thursday to suspend a three-day strike until Jan. 15 to provide time to negotiate a new contract.
Port strike 2024: Which products could face shortages, price hikes?
If drawn out, the strike would force businesses to pay shippers for delays and cause some goods to arrive late for peak holiday shopping season.
Where are ports located in NY, NJ area? Here's what they do
On Tuesday, 36 U.S. ports, including New York and New Jersey, were shut down as the union representing approximately 45,000 dockworkers went on strike for the first time since 1977. Here's what ports are affected in our area:
Port strike 2024 triggers toilet paper 'panic buying' at Costco locations
Videos posted online claim that toilet paper is sold out at Costco stores in several states – including New Jersey – with one worker saying their stock was cleared one hour after opening.
Will cruise lines be disrupted by the port strike?
While cargo at many major ports has been disrupted since the beginning of the International Longshoremen’s Association (ILA) strike, the union said last week that its members would "continue to work passenger cruise vessels" during the work stoppage.
Port strike 2024: Map of affected locations, product impacts, updates
While any port can handle any type of goods, some ports are specialized to handle goods for a particular industry.
Here's how the port strike could affect the holidays
This holiday season might be a little less merry —with Christmas trees and holiday goods stuck in transit. Experts warn that more than a month could cause product shortages.
As US port strike looms, progress reported in talks between Eastern and Gulf ports and dockworkers
The union for 45,000 dockworkers and the group representing East and Gulf Coast ports have exchanged wage offers, leaving a ray of hope that a deal can be reached without a major work stoppage.
Port strike looming: What to know and expect
Retailers are bracing for potential pain should thousands of dock workers along the East Coast begin striking this week. Here’s what to know and what to expect.
New Yorkers sound off on 2024 election issues
FOX 5 NY is taking a deep dive into what both Trump and Harris have said about three critical issues: economy, immigration and reproductive rights. Here's what some New Yorkers had to say.
US looks to crack down on cheap shopping site Temu amid concerns of exploitation
The House Intelligence Committee is pushing for action against Chinese e-commerce company Temu and its parent Pinduoduo (PDD) over concerns about trade violations, forced labor, and national security risks.
Would Harris or Trump do a better job on the economy? Voters spilt in new poll
About 4 in 10 registered voters say Trump would do a better job handling the economy, while a similar number say that about Harris, according to a new AP-NORC poll.
Will the Fed's rate cut bring down mortgage rates?
While the federal funds rate is not what consumers pay directly, it affects borrowing costs for home equity lines of credit, auto loans and credit cards. Mortgage rates are linked to moves in the 10-year Treasury yield.