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☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ This big-ticket purchase may be a 'grenade in your otherwise well-planned retirement,' advisor warns
▼ + stars: | 2023-09-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Americans are at risk of falling short of what they may need to live on financially in retirement. One potential reason is lifestyle creep, or the tendency to upgrade your lifestyle as you earn more. An upgrade people are often tempted to make – the purchase of a second home – may be particularly risky for long-term planning, financial advisors say. "Those bigger purchases, if not done really deliberately and diligently, can almost end up being almost like a grenade in your otherwise well-planned retirement," said Patrick McGinn, president of Retirement Resources Investment Corp. in Peabody, Massachusetts. Importantly, the return on those liquid investments may far exceed what someone may earn on a second home.

Persons: Patrick McGinn, Stephen Cohn, Cohn Organizations: Retirement Resources Investment Corp, CNBC, Finance, Sage Financial Group Locations: Peabody , Massachusetts, U.S, West Conshohocken , Pennsylvania

☆ Shares, dollar gains after moderate US CPI data
▼ + stars: | 2023-08-10 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The consumer price index (CPI) gained 0.2% last month, the Labor Department said, lifting the annualized rate to 3.2% from 3% in June. The pace of core CPI, which strips out volatile food and energy prices, slowed to 4.7% in July from 4.8% the prior month. But investors remained cautious as another CPI report and jobs data await Fed policymakers before their next meeting in September. MSCI's gauge of stock performance across the globe (.MIWD00000PUS) gained 0.38%, while the pan-European STOXX 600 index (.STOXX) rose 0.79%. Gold prices ticked up after the U.S. inflation data on speculation the Fed is at the end of its rate hike cycle.

Persons: Brendan McDermid, Russell Price, Price, Brad Bechtel, Brad Conger, Callaghan, Brent, Herbert Lash, Samuel Indyk, Ankur Banerjee, Edwina Gibbs, Sam Holmes, Susan Fenton, Alexandra Hudson, Richard Chang Organizations: New York Stock Exchange, REUTERS, Global, Labor Department, Reuters, Fed, Ameriprise, FX, Jefferies, Co, Dow Jones, Nasdaq, Treasury, U.S, Thomson Locations: New York City, U.S, Troy , Michigan, Conshohocken , Pennsylvania, CHINA, China, Asia, Pacific, Japan, London

The Labor Department reported that U.S. job openings unexpectedly rose in April, pointing to persistent strength in a labor market that suggests pressure on both wages and inflation. Futures traders raised to 70% the probability of a 25 basis points hike at the Fed's June 13-14 policy meeting. FEDWATCHFed Governor and vice chair nominee Philip Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. The Labor Department's closely watched May unemployment report, due on Friday, could decide whether a rate hike occurs. Intel was the biggest gainer on the S&P 500 as the chipmaker said it was on track to hit the upper end of its second-quarter revenue forecast.

Persons: Brendan McDermid, Joe Biden, it's, Brad Conger, Callaghan, Conger, FEDWATCH, Philip Jefferson, Patrick Harker, Tim Ghriskey, we've, Nvidia Corp's, Herbert Lash, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Senate, Co, Labor Department, Philadelphia Fed, Inverness, Labor, Dow Jones, Nasdaq, Technology, Federal Deposit Insurance Corporation, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, Intel, Thomson Locations: New York City, U.S, Conshohocken , Pennsylvania, New York, Bengaluru

☆ Dollar, yields gain as likelihood of Fed rate hike rises
▼ + stars: | 2023-04-14 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

Gold pulled back from near record highs as the dollar bounced and Fed Governor Christopher Waller added weight to the prospect of another rate hike, saying the central bank's lack of progress on slowing inflation meant rates needed to move higher. While the economic data suggests the U.S. economy is slowing and next month's expected rate hike may be its last, how long rates stay at the highest since the onset of the global financial crisis in 2007 is unclear. "The Fed is going to stay higher than it's forecast. The 10-year German bund's yield rose to 2.433%, helping the benchmark post its biggest weekly rise since late September. U.S. crude settled up 36 cents at $82.52 a barrel, while Brent rose 22 cents to settle at $86.31.

☆ David’s Bridal laying off over 9,000 workers
▼ + stars: | 2023-04-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —David’s Bridal, one of largest sellers of wedding gowns in the United States, is laying off thousands of workers nationwide, according to a notice filed to the Pennsylvania Department of Labor. “The scale of these layoffs suggest that David’s Bridal is in crisis mode,” said Neil Saunders, managing director at GlobalData Retail. David’s Bridal filed for bankruptcy in 2018 after being laden with growing debt and declining sales of wedding dresses. The following year, David’s Bridal, which operates more than 300 stores, said it had anticipated weddings to return with a vengeance because of pent-up demand. But the layoffs at David’s Bridal come amid ongoing job losses across retail, tech and other industries.

Government bonds, which typically perform well when there is a dash for safe havens, sold off under intense pressure. The dollar rose to an almost one-month high of 132.85 yen while the euro fell 0.64% to $1.0726. Chinese equities fell on Monday, while the offshore yuan touched a one-month low against the dollar. European Central Bank and Bank of England policymakers will also be making appearances. Gold edged higher, with investors banking on the precious metal's safe-haven appeal as concerns about an economic slowdown linger.

WASHINGTON, Dec 29 (Reuters) - The U.S. government on Thursday filed a lawsuit accusing AmerisourceBergen Corp (ABC.N), one of the nation's largest drug distributors, of helping ignite the nation's deadly opioid epidemic by failing to report hundreds of thousands of suspicious orders of prescription painkillers. The government said AmerisourceBergen had since 2014 systematically refused or negligently failed to flag suspicious orders by pharmacy customers when it had reason to know that opioids were being diverted to illegal channels. "For years, AmerisourceBergen prioritized profits over its legal obligations and over Americans' well-being," Associate Attorney General Vanita Gupta told reporters. In a statement, AmerisourceBergen called the lawsuit an improper attempt to "shift blame" and the burdens of law enforcement from the Justice Department and DEA to the companies they regulate. The Justice Department said AmerisourceBergen for years understaffed and unfunded programs designed to ensure compliance with the Controlled Substances Act.

Dec 29 (Reuters) - The U.S. government on Thursday filed a civil lawsuit accusing the drug distributor AmerisourceBergen Corp (ABC.N) of contributing to the deadly U.S. opioid epidemic by repeatedly failing to report suspicious orders of prescription painkillers. "The United States brings this suit to hold defendants accountable for their egregious failure to report suspicious orders and their role in contributing to the opioid epidemic," the Justice Department said in its complaint. The company has long denied contributing to the opioid epidemic. Thursday's lawsuit is latest in a series of criminal and civil actions the Justice Department has pursued against companies accused of fueling the opioid epidemic. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

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