Best Buy reported a surprise increase in second-quarter sales, helped by a sharp jump in its online business as the retailer lured shoppers in a difficult market. The company’s stock surged as much as 19%.
For Americans in the bottom quarter of the income scale, pay is rising at the fastest rate since the recession, and large firms are setting a public example, putting pressure on competitors to follow suit.
Big banks have long complained about the costs of holding large pools of inactive deposits, especially in countries where interest rates have turned negative. Increasingly, they are charging customers to look after their cash.
After arguing earlier this year the Federal Reserve needs to modernize how it is structured, a former top central bank adviser and activists are now laying out exactly how they believe the overhaul needs to happen.