Business

The Consumer Financial Protection Bureau recently announced new regulations for the rapidly expanding buy now, pay later industry. This “interpretive rule” stipulates that BNPL lenders must adhere to the same federal protections as traditional credit card providers under the Truth in Lending Act. This move comes as a response to the industry’s exponential growth, dominated
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The real estate market experienced a setback in April as sales of previously owned homes fell by 1.9% from the previous month, totaling 4.14 million units. This decline came as a surprise following the forecast of a slight gain in sales. The drop was also evident when compared to April of the previous year, marking
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Macy’s, a well-known department store operator, reported fiscal first-quarter earnings that beat Wall Street’s expectations, showing early signs of momentum in its turnaround strategy. Despite the positive performance in earnings, the company mentioned that customers are expected to remain discerning in their discretionary purchases. This indicates a complex challenge that Macy’s still faces in attracting
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Red Lobster, the popular seafood chain, has recently filed for Chapter 11 bankruptcy protection in an effort to restructure its operations and find a buyer. The company is facing significant debt and long-term leases that have weighed it down, leading to the closure of 93 underperforming locations on May 13. With assets between $1 billion
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Last year, media giants heavily relied on sports to attract advertisers during the Upfronts meetings week. Due to a Hollywood strike and cost-cutting measures affecting content creation, companies faced challenges in showcasing their series and movies. This year, despite the return of stars post-strike, the focus at presentations still leaned more towards sports than scripted
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