Business

IronHeart/Getty Images (NEW YORK) — One of the nation’s largest drugstore chains has voluntarily initiated the Chapter 11 process for bankruptcy protection. Rite Aid announced Sunday that the company had reached an agreement with creditors on the terms of its financial restructuring plan that will “increase its financial flexibility” and “significantly reduce” its existing debt. […]

Paul Weaver/SOPA Images/LightRocket via Getty Images (NEW YORK) — Variety discount store Family Dollar recently initiated multiple recalls on products ranging from over-the-counter drugs to toothpaste sold at regional chains in nearly two dozen states. The company first issued an announcement Oct. 5, which was published Oct. 10 by the U.S. Food and Drug Administration, […]

Grace Cary/Getty Images (WASHINGTON) — Major housing industry groups voiced “profound concern” in a letter this week urging the Federal Reserve to stop raising interest rates. The rare public admonishment from top business advocates — including the National Association of Realtors and the National Association of Home Builders — underscores a dramatic slowdown in the […]

Omer Keilaf, CEO and co-founder of the Israeli-based tech startup Innoviz Technologies. — David Garb/Innoviz Technologies (NEW YORK) — Israel’s government is mobilizing 360,000 reservists as the nation responds to the sudden attack by Palestinian militants. Global companies with a presence in Israel are moving quickly to safeguard their employees and come up with contingency […]

Spencer Platt/Getty Images (NEW YORK) — Birkenstock took a big step forward on Wall Street this week, taking the nearly 250-year-old German shoe and sandal maker public. The footwear, often seen as a counter culture shoe for hippies, and in more recent years influencers, has become must-have footwear for many people, but Birkenstock’s Initial Public […]

Westend61/Getty Images (NEW YORK) — There is growing fraud online in which scammers manufacture other identities to dupe financial institutions or their customers out of money — and the crimes are only expected to grow more frequent with the increasing prevalence of artificial intelligence, experts say. A new survey of 500 fraud and risk professionals, […]

Tetra Images/Getty Images (NEW YORK) — Consumer prices rose 3.7% in September compared to a year ago, holding steady from the previous month and running hotter than economists had expected. While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than a percentage point higher than the Fed’s […]

Tetra Images/Getty Images (NEW YORK) — Inflation data to be released on Thursday will show whether price increases cooled or accelerated in September, offering the latest snapshot of expenses faced by U.S. households as the Federal Reserve readies to decide another rate hike next month. Economists expect consumer prices to have increased 3.6% over the […]

IronHeart/Getty Images (NEW YORK) — Mortgage rates stand at their highest level in more than two decades. The average rate for credit card holders tops anything on record at the Federal Reserve. Car loans have returned to 2008 levels, car research group Edmunds found. Pain-inducing interest rates for just about any loan, experts said, trace […]

Bloomberg/Getty Images (NEW YORK) — FTX founder Sam Bankman-Fried believed in utilitarianism and thought rules against lying or stealing inhibited his ability to maximize the greatest benefit for the most people, his former girlfriend and co-worker testified Wednesday at his federal fraud trial. “He didn’t think rules like ‘don’t lie’ or ‘don’t steal’ fit into […]