Dollar General’s disappointing second-quarter earnings reveal a decline in consumer spending, particularly among lower-income households, as inflation continues to pressure wallets. The discount retailer’s stock plummeted over 30% following the news, reflecting a broader trend of cautious consumer behavior and the uncertainty surrounding the economic outlook.
Stay informed with the top news stories from India and around the world, covering political developments, financial updates, and major events on August 30. From Supreme Court hearings to GDP announcements, this digest will keep you in the loop.
Betsey Stevenson, a former Obama administration economic advisor, has criticized Republican vice presidential nominee J.D. Vance for spreading misinformation about the effects of tariffs on consumer prices. Stevenson, citing economic experts, argues that tariffs, contrary to Vance’s claims, generally lead to higher prices for consumers.
Despite falling mortgage rates, homebuyers remain hesitant, leading to slower sales. Builders and economists attribute this to the expectation of further rate declines, with homeowners holding onto their lower-rate mortgages and prospective buyers waiting for even better deals. However, some signs of optimism exist with existing home sales rising for the first time in five months.
As artificial intelligence (AI) advances, concerns about job displacement grow. Valuation expert Aswath Damodaran offers three practical steps to protect your job from AI disruption: be secretive about your work, seek system protection, and build a personal moat of unique skills. This article explores these strategies and the broader discussion on AI’s economic impact.
Moody’s has raised its growth projection for India in 2024 and 2025, citing strong economic performance and a revival in rural demand. Meanwhile, Fitch affirmed India’s sovereign credit rating, highlighting the country’s strong medium-term growth prospects and improved fiscal credibility.
Valencia’s recent decision to abolish its tourist tax is expected to benefit travelers by reducing costs and potentially attracting more visitors. This move could influence tourism policies in other European destinations and enhance Valencia’s appeal as a welcoming and affordable city.
Senator Elizabeth Warren has voiced her support for Vice President Kamala Harris’ plan to combat corporate price-gouging in the food and grocery sectors, contrasting it with former President Donald Trump’s economic policies. Warren argues that Harris’ plan protects working-class Americans from rising costs, while Trump’s approach benefits only the wealthy. The plan, which includes a federal ban on price-gouging and increased scrutiny of mergers, has faced pushback from the food industry, but Warren’s endorsement adds weight to the proposal.
As Ohio’s adult-use cannabis market flourishes, a notable career shift is emerging. Individuals aged 30 to 50, primarily from Gen X and millennial generations, are increasingly drawn to the cannabis industry for new job opportunities. This trend is fueled by the growth of specialized training programs and the promise of a thriving local economy.
A recent Michigan survey indicates that Vice President Kamala Harris is favored over former President Donald Trump on economic issues, highlighting a broader shift towards Democratic economic policies. The survey results, along with analysis from Nobel Prize-winning economist Paul Krugman, suggest a growing preference for Harris’s economic approach. This trend coincides with broader polling trends and has implications for both the political landscape and the potential economic policies of a Harris administration.
