US economy shrank by 1.5% in Q1 but consumers kept spending
Last quarter’s drop in the U.S. gross domestic product does not likely signal the start of a recession.
Coast Guard investigates reports of foul odor, nausea on Carnival Magic
On the same morning Carnival Cruise Line was dealing with a fire on board its Carnival Freedom cruise ship, the Coast Guard was investigating reports of passengers getting sick from a foul odor on the Carnival Magic.
Macy’s raises annual profit outlook on strong Q1 results
Macy’s raised its annual earnings outlook even as surging inflation is crimping Americans’ budgets.
Retailers’ troubles sound the alarm for rest of economy
The fastest inflation in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economic outlook.
CEO pay up 17% as profits and stocks soared; workers fall behind
The typical compensation package for chief executives who run S&P; 500 companies soared 17.1% last year, to a median $14.5 million.