US July Inflation Remains Hot (CPI At 8.5% YoY) While Real Weekly Wage Growth Remains Burned (-3.6% YoY) Mortgage Refi Apps Down -82% YoY While Mortgage Purchase Apps Down -19% YoY)

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by confoundedinterest17 The US July inflation report remains hot, hot, hot! While mortgage purchase and refinancing applications are not, not, not. The US consumer price index rose 8.5% in July. And real average weekly growth remains burned by horrid inflation, at -3.6% YoY. Data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending … Read more

Domino’s Pizza Leaves Italy After Surprisingly Surviving There for Seven Years

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Just seven years after making its debut in Milan, Domino’s Pizza is saying arrivederci to Italy. The fast food giant closed the last of its 29 stores on the Italian Peninsula after struggling to gain a foothold in the country, Bloomberg reports, with locals proving to be difficult to win over for the American chain. The company’s exit … Read more

Biden Admits He Doesn’t Know What’s In The Inflation Reduction Act

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President Biden is being criticized for appearing to admit he has no clue what is in Democrats’ massive Inflation Reduction Act, which will actually increase inflation and devastate the economy. “What we’re doing today, what we passed yesterday, helping to take care of everything from health care to God knows what else,” Biden admitted in Kentucky … Read more

Papa John’s Founder: Company Has Abandoned Conservative Values, Prompting Sales to Fall

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The founder and former chairman of Papa John’s, John Schnatter, has said that the pizza chain has abandoned the “conservative values” he built it on and is losing customers as a result. Schnatter made the comments in an interview with the Right Side Broadcasting Network at the Conservative Political Action Conference (CPAC) in Dallas, Texas, on Aug. 4. The former CEO said that “truth … Read more

Illinois officials concealed the presence of chemicals in drinking water.

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Even though there were many warning signs that the drinking water in Illinois is tainted with “forever chemicals” that can stay in a person’s body for years and cause cancer and other diseases, the Illinois Environmental Protection Agency didn’t begin testing the state’s water utilities for the chemicals until August 2020. This is according to … Read more

COINBASE billion-dollar loss amid crypto meltdown

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Coinbase’s revenue declined almost 64% in the quarter as cryptocurrency prices fell. The exchange operator lowered its full-year forecast for transacting users. Coinbase said during the quarter it was trimming 18% of headcount. Coinbase shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter … Read more

$15 French Fries, $18 Sandwiches: Inflation Hits NYC

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This was supposed to be a summer of long-awaited celebrations in New York City, the return of a packed calendar full of birthday dinners and happy hours. But New Yorkers are confronting sticker shock everywhere they look, whether they’re shopping for barbecue supplies at the grocery store, ordering a beer after work or grabbing a … Read more

WALMART hunts media deal

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Adds Walmart’s response Aug 9 (Reuters) – Walmart Inc WMT.N has held talks with media companies about including streaming entertainment in its membership service, the New York Times reported on Tuesday, citing people with knowledge of the conversations. Executives from Paramount, Walt Disney Co DIS.N and Comcast Corp CMCSA.O, which operate several major streaming services, have in recent weeks spoken with the … Read more