New Vehicle Inventory Stuck Near Record Low, Shortages Shift to Fuel-Efficient Cars, Prices Hit Record. But Used Vehicle Price Spike Runs out of Fuel amid Plenty of Supply

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Still the strangest auto market ever. By Wolf Richter for WOLF STREET. The inventory shortages at new vehicle dealers continue unabated, and inventories remain desperately low, but the shortages are shifting, as demand has shifted, and there is now supply piling up, for example at Ram dealers, while fuel-efficient vehicles are essentially sold out, and EV models have … Read more

iPad Prime Day deals live blog: cheap prices still available on Apple’s tablets

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Refresh 2022-07-12T09:27:25.923Z (Image credit: Apple) (opens in new tab) Kicking our iPad Prime Day deals post off is this brilliant offer at Amazon, which knocks Apple’s bog standard iPad down to less than £300 (opens in new tab). If you don’t need a tablet to do any heavy lifting, and simply want one for the … Read more

Trucking CEOs expect higher prices, potential disruptions in second half of the year

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Trucks at the entrance to the Port of Oakland in Oakland, California, US, on Thursday, July 14, 2022. Truckers servicing some of the US’s busiest ports are staging protests as state-level labor rules that change their employment status begin to go into effect, creating another choke point in stressed US supply chains. David Paul Morris … Read more

Is this a recession or not? While it’s ‘not entirely clear,’ here’s what it could mean for American consumers

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Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed … Read more

There is deflation in some items as Wingstop notes dropping chicken wing prices

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Three months ago, Wingstop put a shocker in its earnings release: It was seeing DEFLATION in bone-in chicken wing costs. The chicken chain reiterated the trend with its latest results Thursday morning and its stock rallied 20% on the news. “We are benefiting from meaningful deflation in bone-in wings,” CEO Michael Skipworth said. At a … Read more

The cost to borrow is very expensive. Here are the best money moves to make after the Federal Reserve’s interest rate hikes

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1. Credit cards Kena Betancur | VIEW press | Corbis News | Getty Images Since most credit cards have a variable rate, as opposed to a locked-in fixed rate, there’s a direct connection to the Fed’s benchmark. As the federal funds rate rises, the prime rate does, as well, and your annual percentage rate could rise within just … Read more

Walmart is slashing prices: here are the best deals

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As supply chains have recovered, Walmart has found itself with excessive inventory. Neil Saunders, managing director of GlobalData, was quoted by NBC News saying, “There are (pricing) problems in apparel, home furnishings, furniture and, to a certain extent, electronics. Those three areas going to be the ones where you’ll see the most discounting.” CNN reported … Read more

Enphase sees strong solar growth in Europe as natural gas prices soar

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Workers install solar panels on the roofs of homes under construction south of Corona, California. The California Energy Commission in May 2018 adopted new energy building standards requiring solar panels for virtually all new homes built in the state starting in 2020. MediaNews Group/Inland Valley Daily Bulletin via Getty Images | Digital First Media | … Read more

Biden fights talk of recession as key economic report looms

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Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession. The Commerce Department on Thursday will release new gross domestic product figures. Top forecasts such as the Atlanta Federal Reserve’s GDPNow are predicting … Read more

Property stocks drop as Hong Kong shares slip in mixed Asia trade; Australia’s inflation rises

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SINGAPORE — Real estate stocks in Hong Kong dropped as Asia-Pacific markets traded mixed on Wednesday. Australia’s inflation rose and investors looked forward to the Fed’s policy decision. Property firm Country Garden’s stock plunged 15.05% after it said it would raise 2.8 billion Hong Kong dollars ($360 million) by selling 870 million new shares. The … Read more