Costco exec sees a 'light at the end of the tunnel' on inflation
Synopsis by Business Insider Oct 09 22
On a call with investors, a Costco executive said it isn't "the right time" to raise membership dues given the "burden" of high inflation on shoppers.Read full article 
MarketWatch: Here's what Costco is saying about inflation — and a membership fee increase
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Costco exec sees a 'light at the end of the tunnel' on inflation: Costco's Chief Financial Officer Richard Galanti spoke extensively about inflationary pressures ...
businessinsider.com/costco-exec-inflation-light-end-tunnel-2022-9
Costco won't raise prices for membership or $1.50 hot dog/soda combo: On a call with investors, a Costco executive said it isn't "the right time" to raise ...
businessinsider.com/costco-wont-raise-prices-membership-quarterly-results-inflation-hot-dog-2022-9
Costco again commits to holding its hot-dog-and-soda combo price constant — possibly 'forever'
marketwatch.com/story/costco-again-commits-to-holding-hot-dog-and-soda-combo-price-constant-possibly-forever-11663940429
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Costco exec sees a 'light at the end of the tunnel' on inflation: Costco's Chief Financial Officer Richard Galanti spoke extensively about inflationary pressures ...
businessinsider.com/costco-exec-inflation-light-end-tunnel-2022-9
Costco won't raise prices for membership or $1.50 hot dog/soda combo: On a call with investors, a Costco executive said it isn't "the right time" to raise ...
businessinsider.com/costco-wont-raise-prices-membership-quarterly-results-inflation-hot-dog-2022-9
Costco again commits to holding its hot-dog-and-soda combo price constant — possibly 'forever'
marketwatch.com/story/costco-again-commits-to-holding-hot-dog-and-soda-combo-price-constant-possibly-forever-11663940429
Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike
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More Americans worried about climate change, but few think Biden's climate law will help, AP-NORC poll says
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Costco unveils sales smasher, dividend kicker: Analysts weigh in on Costco shares and reset price targets.
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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
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Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
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- Household net wealth increases by 244 billion euros to 5560 billion euros.
Walgreens embarks on another round of layoffs: The Deerfield-based company has been cutting jobs every few months over the last year.
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GM and Ford count on gas-powered trucks as EV growth slows: U.S. automakers General Motors and Ford face a challenge in common when they report first-quarter ...
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Costco gets viral Trader Joe’s item that’s always sold out: The warehouse club is cashing in on some popular consumer trends.
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- Nielsen's final numbers on Tuesday may reveal an increase in viewership.
- It marks the most-watched basketball game since 2019, when the men's NCAA title game between Virginia and Texas Tech averaged 19.6 million viewers on CBS.
- The women's final also recorded the highest viewership for a Sunday afternoon sporting event on ESPN and ABC since early 2021.
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Resurgent inflation looms over Joe Biden’s White House bid: Consumer prices are rising quickly at just the wrong time for the US president
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Costco’s March Sales Jump. E-Commerce Is Taking Off.: E-commerce same-store sales grew 28.3% year-over-year.
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Score $40 Free Credit to Spend in Store With This Costco Membership Deal: Snag a Costco Gold Star membership and get $40 back, but only for a limited time.
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Thailand's Central buys German luxury retail property KaDeWe
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Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
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Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
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- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Dollar rises to 5-month high, puts heat on yen; GDP data boosts yuan
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Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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Mortgage rates top 7 percent for first time in 2024: Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie ...
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Why are gold bar sales surging at Costco?: Buying gold becomes more common in times of economic turmoil. With improved economic outlook in the U.S. ...
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US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
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Food inflation across rich nations drops to pre-Ukraine war levels: Annual change in prices across 38 industrialised countries eased to 5.3% in February ...
ft.com/content/f51368f0-c157-451d-a231-b944fbe7e7a0
Quick Glance: Decline in Food Prices in Industrialized Countries
- Annual change in prices across 38 industrialized countries eased to 5.3% in February, according to the latest OECD data.
- Food inflation across rich nations has dropped to its lowest level since before Russia’s full-scale invasion of Ukraine, alleviating pressure on households affected by cost increases.
- The OECD is expected to address food prices as part of its comprehensive inflation update.
- The decrease in food price inflation was widespread in industrialized countries in February, with the latest OECD reading halved or almost halved from recent peaks.
Consumer Prices Rose 3.5% in March From Year Earlier: Annual inflation ticked up and underlying price pressures remained strong last month. .
on.wsj.com/3VVaIeY
What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies
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From Cubicle to Corporate Icon, Costco Finance Chief Ends 40-Year Run: Richard Galanti has stepped down as CFO after nearly four decades in the role ...
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WhoCanFixMyCar appoints new hires to senior leadership team: WhoCanFixMyCar has appointed two new hires to its Senior Leadership team. Craig Livings joins as ...
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Escalating Middle East tensions a fresh jolt to world markets: Reports of an Israeli attack on Iranian soil that possibly drags the Middle East into a deeper ...
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Quick Glance: Escalating Middle East Tensions Shake World Markets
- Reports of an Israeli attack on Iranian soil potentially dragging the Middle East into a deeper conflict have rattled world markets with geopolitical risks.
- Stocks fell, oil briefly rose over $3 per barrel, and safe-haven government bonds rallied.
- The heightened tensions bring fresh uncertainty and fuel concerns that high oil prices and potential supply disruptions will keep inflation high.
- Energy stocks benefit from higher oil prices, while demand for safe-havens like US or German bonds rises amid renewed inflation risks from rising oil.
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Quick Glance: Inflation down in German states, signaling national decline
- Inflation fell in six economically essential German states in March, indicating that national inflation will continue its downward trend.
- Economists will closely monitor national inflation data as Germany releases its figures a day before the Eurozone inflation data on Wednesday.
- German companies expected the lowest prices in three years in March, with forecasts of inflation falling below the European Central Bank's target in the upcoming months.
- An increasing number of ECB policymakers have backed rate cuts, with a June meeting appearing as the most probable time for action, although a meeting is also scheduled for this month.
Sam’s Club makes a key move designed to trump Costco: The warehouse clubs have taken different approaches to selling something a lot of members want.
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Evercore consumer dealmaker Taetle is leaving the bank, sources say: Adam Taetle, a senior managing director at Evercore who advised on several transactions in ...
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If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
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Nike CEO says focus on its own website and stores went too far as it embraces wholesale retailers again
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Quick Glance: Nike CEO Acknowledges Shift from Direct Sales Focus
- Nike CEO John Donahoe acknowledged that the company deviated too far from wholesale partners like Macy's and DSW in its pursuit of primarily selling products through its own stores and website.
- Over recent years, Nike has actively worked on restructuring its business model. Initially focused on selling sneakers and clothing in department stores and specialty shops, the brand now generates the majority of its revenue through direct-to-consumer sales.
- This transition enabled Nike to significantly increase revenue and enhance customer insights through data analysis. Donahoe stated that Nike has tripled its mobile and digital business in the past four years.
- Some analysts view Nike's avoidance of wholesale partners as a misstep that hindered the company's progress in innovation and product development.
Small business optimism hits lowest level since 2012: NFIB: The NFIB's Small Business Optimism Index slid in March to its lowest level since December 2012 amid ...
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These Stocks Are Moving the Most Today: Alpine Immune, Regeneron, Costco, Constellation Brands, CarMax, and More
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US employers added a surprisingly robust 303,000 jobs in March in a sign of economic strength
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Quick Glance: US economy adds impressive 303,000 jobs last month
- Employers added 303,000 jobs in March, bringing the unemployment rate down to 3.8%.
- US stock futures rose slightly on Friday morning, but markets have had a rough week.
- The S&P 500 companies are expected to report positive first-quarter earnings, fueling optimism in the market.
- Investors are hopeful for a strong earnings season to continue the stock rally amidst concerns about inflation and interest rates.
Sam’s Club makes a key move designed to trump Costco
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Few in new poll say Biden law has helped fight climate change: Very few Americans believe the Inflation Reduction Act (IRA), signed into law by President Biden ...
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Peter Waddell to 'take big fight with Freshstream to High Court': Peter Waddell, founder of Big Motoring World has vowed to take legal action against ...
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Costco gold bars seeing at least $100 million in monthly sales: "It only reinforces its value position," Wells Fargo said.
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
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Quick Glance: Mortgage Rates Surge Above 7% in 2024, Posing Major Dilemma for Homebuyers
- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
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- Experts anticipate a moderate easing of mortgage rates later in the year.
Supermarket of the Year 2024 - Nominees in the category chain stores up to 3,000 sqm
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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Petrol and diesel back to nearly €2 a litre as drivers hit by biggest price rise this year
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Jamie Dimon warns rates could stay high as market mood shifts: JPMorgan chief says inflation could be ‘stickier’ than markets expect in annual letter to ...
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Quick Glance: Jamie Dimon warns of potentially prolonged high rates
- JPMorgan chief Jamie Dimon warns in his annual letter to investors of potentially prolonged higher inflation and interest rates due to high government spending.
- Dimon mentioned that the economy is being fueled by government deficit spending and past stimuli, which could lead to potentially stickier inflation and higher rates.
- Financial markets have significantly reduced their expectations for the number of expected rate cuts by the US Federal Reserve, with only two quarter-point cuts planned in 2024.
- Dimon also warns of the risks of the private credit market boom and emphasizes that regulations may increasingly focus on this market, warning of geopolitical risks due to events like Russia's invasion of Ukraine.
British retail sales stagnate as shoppers cut back on groceries: Economists had expected 0.3% growth in March
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Some Costco Stores Are Now Selling a Frozen Item That Looks Just Like a Trader Joe's Fan Favorite
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Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...
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Costco, Dollar Tree, and Lowe’s Stocks Are Downgraded. There’s a ‘Notable Wall of Worry.’
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Paid articlePaid Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
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Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
- The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.
- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
- The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.
- In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.
Costco is now prescribing Ozempic, Wegovy, and other weight loss drugs: The warehouse club is offering prescriptions for weight loss drugs through its health ...
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Paid articlePaid The Headache at the End of the Costco Gold Rush: Selling gold bars takes more time and money than stocks, bonds or crypto.
on.wsj.com/3vPVXzt
Gold prices hit a record high. What's behind the surge?: The price of gold has climbed 17% in 2024.
abcnews.go.com/Business/gold-prices-hit-record-high-surge/story
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
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Starbucks is redesigning its coffee shops to get orders right without shouting: The redesign is intended to also help customers who have trouble hearing
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Mortgage rates hit highest level since November after hot inflation report: Mortgage rates jumped to their highest reading since November as the timeline for ...
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California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
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Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
A Day in the Life of a Walmart Manager Who Makes $240,000 a Year: Nichole Hart walks 20,000 steps as she searches for super glue, encounters a disappointed Snoop ...
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International Monetary Fund: Germany in last place among industrialized nations (again)
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FTSE 100 Set to Resume Rise Closer to Record
bloomberg.com/news/live-blog/2024-04-09/ftse-100-what-s-moving-uk-markets-right-now-markets-today
Precious metals buyer cashes in on Costco's gold bar rush: 'I consider this savings'
foxbusiness.com/money/precious-metals-buyer-cashes-costcos-gold-bar-rush-savings
What to know about Biden's latest attempt at student loan cancellation: President Biden is taking another shot at student loan cancellation, hoping to deliver on ...
richmond.com/news/nation-world/government-politics/student-loan-cancellation-biden-plan-explained/article_76583957-379d-5485-96a7-79d1316b242b.html
Costco quietly making shopping change customers should love: The warehouse club is doing something very unexpected that members will be happy about.
thestreet.com/retail/costco-quietly-making-shopping-change-customers-should-love
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