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July 5, 2022

CONSUMER

Micron warns weakening consumer demand will hurt smartphone sales

CNBC
CNBC – For more and to sign up click here Sanjay Mehrota, Micron Technology President & CEO at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Micron Technology, a major vendor of memory chips for PCs and smartphones, said on Thursday that it expects smartphone sales......

We’re using cash raised this week to buy more of this durable consumer stock

CNBC
CNBC – For more and to sign up click here With the likelihood of a recession increasing, we want to upgrade our portfolio by focusing on those companies with resilient sales.  Source – Click here for more To Return to the Main Aggregate News Page – click here...

Collapsing consumer confidence is right on the money about US economy

NYPost
Post Editorial Board Consumers know better. They see the economic storm clouds looming. So, too, do some economists, who think we may already be in a soft recession. Source – For more click here To Return to the Main Aggregate News Page – click here Break’n Pics – Click here......

Debt collectors’ ‘pay to pay fees’ are ‘often illegal,’ consumer watchdog agency says

CNBC
CNBC – For more and to sign up click here Anchiy | E+ | Getty Images Certain “junk” fees often levied by debt collectors are illegal under federal law, the Consumer Financial Protection Bureau said Wednesday. Debt collectors charge so-called “pay-to-pay” fees, also known as convenience fees, when consumers make......

Inflation saps U.S. consumer confidence; house prices remain elevated

Reuters
Consumer confidence index falls 4.5 points to 98.7 in June Goods trade deficit falls 2.2% to $104.3 bln in May Exports increase 1.2%; imports dip 0.1% Wholesale inventories rise 2.0; retail stocks up 1.1% House prices increase in April, but pace slowing WASHINGTON, June 28 (Reuters) – U.S. consumer confidence......

U.S. new home sales rebound in May; consumer sentiment at record low

Reuters
Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones/File Photo Register now for FREE unlimited access to Reuters.com Register New home sales rebound 10.7% in May; April data revised up Median......

Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

CNBC
CNBC – For more and to sign up click here A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, Feb. 5, 2022. Kathryn Gamble | Bloomberg | Getty Images A widely followed consumer sentiment survey released Friday showed inflation expectations have......

Consumer watchdog eyes crackdown on credit card late fees as inflation threatens to increase them

CNBC
CNBC – For more and to sign up click here Rohit Chopra, director of the Consumer Financial Protection Bureau, testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on April 26, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau signaled a......

Amazon Prime Day is coming up. Focus will be on consumer staples to counter surging inflation, experts say

CNBC
CNBC – For more and to sign up click here Amazon Prime Day is one of the most anticipated shopping events of the year. But in 2022, shoppers may be less interested in backyard entertaining or Black Friday-type deals and more eager to score discounts on consumer staples to counteract......

Amazon names veteran Herrington as head of consumer business

Reuters
The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo Register now for FREE unlimited access to Reuters.com Register June 21 (Reuters) – Amazon.com Inc (AMZN.O) on Tuesday named Doug Herrington as the head of its consumer business, tasking the......

China’s multi-billion dollar shopping festival tests e-commerce giants and consumer appetite

CNBC
CNBC – For more and to sign up click here China’s “618” shopping festival sees e-commerce giants including JD.com and Alibaba offer huge discounts to shoppers. Billions of dollars worth of sales are racked up across the 618 sales period which usually lasts a couple of weeks. Geng Yuhe |......

Toyota says consumer choice dictates pace of electrification

Reuters
TOYOTA, Japan, June 15 (Reuters) – Toyota Motor Corp (7203.T) pushed back against critics who say it has been slow to embrace battery electric vehicles (BEV), arguing it needed to offer a variety of car choices to suit different markets and customers. At its annual general meeting on Wednesday, the......

Our latest high-grade stock trade pits discretionary spending against consumer necessities

CNBC
CNBC – For more and to sign up click here A pop in a troubled name and a drop in a portfolio favorite makes this trim and add less painful. Source – Click here for more To Return to the Main Aggregate News Page – click here...

Consumer price inflation in May expected to run sizzling hot as energy, food and rent rose

CNBC
CNBC – For more and to sign up click here Economists expect inflation in May continued to burn white hot, with energy, food, rent and health-care costs all rising. According to Dow Jones, economists expect the consumer price index rose 0.7%, up from 0.3% in April. On a year-over-year basis,......

Some medical debt will soon disappear from consumer credit reports. What to know

CNBC
CNBC – For more and to sign up click here If medical debt is hurting your credit score, that negative impact could soon disappear. Changes to when such debt will go on credit reports are scheduled to take effect July 1, as announced by the three large credit reporting firms......

Amazon consumer chief Dave Clark to join Flexport as its new CEO

CNBC
CNBC – For more and to sign up click here Dave Clark, Amazon’s senior vice president of worldwide operations. Lindsey Wasson | Reuters Supply chain software start-up Flexport has tapped Dave Clark, Amazon‘s worldwide consumer chief, to serve as its new CEO. Clark will take the helm at Flexport on......

Cramer’s week ahead: Watch for consumer trends to gauge the state of inflation

CNBC
CNBC – For more and to sign up click here CNBC’s Jim Cramer said Friday that any signs of consumer negativity next week will be a welcome sign for the Federal Reserve in its fight against inflation. “I know it’s a total drag to hope for negativity, but that’s what......

The chief executive of Amazon’s consumer business is leaving.

New York Times
Dave Clark, the chief executive of Amazon’s consumer business, who was the architect of its massive warehouse operations, announced on Friday that he would leave the company after 23 years. He did not say what he would do next, and the company did not immediately name a successor. “It’s time......

Amazon CEO of Worldwide Consumer Dave Clark resigns

CNBC
CNBC – For more and to sign up click here Dave Clark, Amazon’s senior vice president of worldwide operations. Lindsey Wasson | Reuters Dave Clark, CEO of Amazon‘s worldwide consumer business and a top lieutenant of CEO Andy Jassy, will resign July 1, after 23 years at the company, Amazon......

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