MoneyWatch

Walmart shares are sinking after the retail chain told investors to expect lower profits for the rest of the year amid surging inflation. The nation’s largest retailer reported that high costs for food are squeezing customers’ ability to spend on discretionary items, like furniture and electronics. High prices for essentials …

Most Americans weren’t born the last time the federal minimum wage bought as little as it does today. It’s been nearly 13 years since Congress raised the nation’s baseline pay to $7.25 an hour, and that rate is now worth less than at any time in 66 years, a new …

Twitter and Facebook parent Meta said Friday they’re deleting any videos of the assassination of former Japanese Prime Minister Shinzo Abe that break their rules on harmful content. Multiple videos of the attack showing a gunman firing a double-barreled weapon twice at Abe were circulating on social media. Some only …

The U.S. Food and Drug Administration is urging parents and caregivers not to use baby neck floats after the death of at least one infant and hospitalization of another. In both cases, the babies were injured while not being directly monitored, the agency cautioned on Tuesday. The inflatable plastic rings …

Airlines under scrutiny for widespread flight disruptions are renewing their criticism of the government agency that manages the nation’s airspace, saying that understaffing at the Federal Aviation Administration is “crippling” traffic along the East Coast. Airlines for America, which represents the largest U.S. carriers, said Friday it wants to know …

Airlines in the U.S. canceled numerous flights for a second straight day on Friday as they try to recover from severe storms while accommodating growing crowds of summer vacationers. By midmorning in the eastern U.S., airlines had scrubbed more than 1,000 flights after canceling more than 1,700 on Thursday, according …

Learning that Trader Joe’s scaled back retirement benefits for its U.S. workforce of 50,000 was the last straw for a group of employees at one of the chain’s stores in Hadley, Massachusetts. Those workers have now filed for a union election that, if successful, would make the store the first …

A woman wounded in last month’s mass shooting on a New York City subway filed a lawsuit Tuesday against the maker of the handgun allegedly used in the attack and its parent company, accusing the firearm manufacturer of “reckless disregard for human life.” Authorities say a 9mm Glock semiautomatic handgun …

A Virginia legislator is suing Barnes & Noble to block the book chain from selling two “obscene” books to minors without parental consent. The move comes as conservative lawmakers across the country seek to ban schools and libraries from offering books with content they find objectionable.  Tim Anderson, a Republican …

The price of gasoline in the U.S. edged up and hit a new all-time high, as falling capacity at refineries increase the costs of filling up. The average price of a gallon of regular gas rose to $4.43, according to AAA. That’s up from $4.08 a month ago and $3 …