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Happy almost Friday, Daily Money readers. It's Bailey Schulz here with the day's top headlines. |
The nation's gross domestic product expanded at a seasonally adjusted annual rate of 2.4% in the April-June quarter as a slowdown in consumer spending was offset by a rise in business investment, the Commerce Department said Thursday. That's up from 2% growth early in the year and above the 1.8% rise predicted by economists in a Bloomberg survey. |
"The latest numbers put an exclamation mark on it: we're not in a recession and it's unlikely we'll slip into one this year or maybe even next year," Robert Frick, an economist at Navy Federal Credit Union, wrote in a note to clients. |
Even so, many economists still believe a recession is likely later this year or in 2024. | A shopper carries a Zara shopping bags while walking down the Third Street Promenade in Santa Monica, California on March 20, 2023. (Photo by Patrick T. Fallon / AFP) Patrick T. Fallon, AFP via Getty Images |
Less than 2% of its U.S. workforce will be laid off, Anheuser-Busch said in a statement to The Wall Street Journal and CNN. According to the company's website, Anheuser-Busch employs "more than 19,000 employees nationwide," which would mean roughly 380 positions or less being eliminated. |
The beer company said front-line workers such as brewery and warehouse employees will not be impacted by the layoffs, the WSJ reported. |
Anheuser-Busch has watched sales decline following a consumer boycott in response to Bud Light partnering with transgender influencer Dylan Mulvaney, which led to Mexican lager Modelo Especial decrowning the American-made beer as the top-selling beer in the U.S. |
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British Airways flight 252 from Turks and Caicos to London had a catering snafu Sunday. When the plane made a scheduled stop in Nassau, Bahamas, the crew went into the terminal to buy KFC and distributed pieces to passengers. |
Social media posts show flight attendants serving chicken directly out of the KFC buckets. |
"With limited options available at the airport, our teams sprung into action and made sure our customers onboard our flight had something to eat," the airline said in a statement. "We apologize to customers that their full meal service was not available and that we had to wing it on this occasion." |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | The U.S. economy grew 2.4% in the second quarter. Recession fears still loom amid high interest rates and inflation, though they've eased recently. | | | | Anheuser-Busch is laying off hundreds of positions after Bud Light lost its spot as the top-selling U.S. beer. | | | | Forbes' list of the nation's 100 wealthiest women includes 8 newcomers this year - one of whom made the top 10 - and a variety of vocations. | | | | As UPS reaches a tentative deal with its biggest union, experts say labor is likely to have a strong showing in other talks this year. | | | | Parents are facing an $890 back to school supply bill. These organizations are helping by providing free school supplies to families. | | | | Anyone in the U.S. with a Facebook account between May 24, 2007, and Dec. 22, 2022, is eligible to apply for the settlement. You have until Aug. 25. | | | | In the face of the Federal Reserve increasing interest rates, some economists predict we're in for a recession, but can unemployment remain low? | | | | The new Spotify feature allows listeners to sort through Swift's 10 studio albums and rank them, picking their top five favorites. | | | | Taco Bell returns the Beefy Crunch Burrito to its menu on August 3, but rewards members can get it starting August 1 on the Taco Bell app. | | | | Lean In Girls includes curriculum made up of 15 one-hour group sessions that teach girls how to view themselves as leaders. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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