Feb. 15 at 6:06 a.m.
Filed under:
Consumer news,
Food,
Packaged foods
By Reuters
Beef cuts on display at a supermarket in New York in January. (Emanual Dunand/AFP/Getty Images)
With more Americans tightening their belts, demand for cheaper cuts of U.S. beef has actually pushed the price of select-grade beef higher than the generally more expensive choice cuts.
For the first time in nearly two years, select-grade beef prices are above those for better-quality choice grade, according to U.S. government data.
The data showed that demand for select has grown while supplies have declined. Get the full story »
Feb. 11 at 1:07 p.m.
Filed under:
Consumer news,
Recalls
By Associated Press
Nearly 2 million Summer Infant video baby monitors were recalled Friday after being linked to the strangulation deaths of two infants.
The Consumer Product Safety Commission says the electrical cords on the monitors can be dangerous for babies if placed too close to their cribs. Get the full story »
By CNN
A long-anticipated milestone was hit late last year: Smartphone shipments overtook PCs.
Manufacturers shipped 100.9 million smartphones to stores around the globe in the final three months of 2010, compared to 92.1 million personal computers, according to a study released this week by IDC. Get the full story »
Feb. 7 at 2:19 p.m.
Filed under:
Consumer news,
Economy,
Government
By Dow Jones Newswires
Americans increased credit-card use for the first time since 2008, a sign they are growing more confident about the economy and opening their wallets wider.
The surprising rise in December revolving credit as tracked by the Federal Reserve pushed up consumer credit outstanding by $6.1 billion, or 3.0 percent, to $2.41 trillion. Economists surveyed by Dow Jones Newswires had forecast the Fed data Monday would show consumer credit rising by only $2.5 billion. Get the full story »
By Becky Yerak
William Farrow, 55, remembers trying to scrape together enough money to attend graduate school.
A product of Chicago’s Englewood neighborhood, Farrow had graduated from Augustana College in Rock Island in 1977, but got nowhere in obtaining a student loan from a couple of banks. But when he visited a branch of Northern Trust Corp., the Chicago-based bank lent him $1,500. The son of two teachers was on his way to a master’s in management from Northwestern University in 1979. Get the full story »
Jan. 31 at 8:15 a.m.
Filed under:
Consumer news,
Earnings
By Dow Jones Newswires
Alberto-Culver Co.’s fiscal first-quarter earnings rose 30 percent, missing Street estimates, as currency fluctuations and rising input costs dampened sales growth.
The personal-care product maker’s shareholders approved its $3.7 billion acquisition by consumer products giant Unilever PLC last month after it conceded in November to some institutional investors’ demands for the company to make itself more amenable to competing offers. Get the full story »
Jan. 31 at 7:44 a.m.
Filed under:
Consumer news,
Economy
By Reuters
U.S. consumer spending rose more than expected in December to post the sixth straight month of gains as households drew down on their savings to fund purchases, government data showed Monday.
The Commerce Department said spending increased 0.7 percent after rising by 0.3 percent in November. Get the full story »
Jan. 25 at 10:07 a.m.
Filed under:
Consumer news,
Economy
By CNN
Americans were more optimistic about jobs and the overall economy in January, pushing the latest reading on consumer confidence to its highest level since May 2010.
The Consumer Confidence Index shot up to 60.6 in January, from 53.3 in December, the Conference Board, a New York-based research group that compiles the index, said Tuesday. Get the full story »
Jan. 24 at 1:24 p.m.
Filed under:
Banking,
Consumer news
By CNN
U.S. Bank is one of the last of the megabanks to offer free checking. But that may be about to end.
The Minneapolis-based bank recently hinted that it will add fees to its checking accounts — and even possibly to its debit cards — as it attempts to recoup revenue lost under new regulations. Get the full story »
By Reuters
The Supreme Court ruled Monday that JPMorgan Chase & Co under an old federal regulation did not have to provide written notice before raising credit card interest rates to account holders who defaulted on a payment. Get the full story »
Jan. 18 at 4:43 p.m.
Filed under:
Consumer news,
Economy
By Dow Jones Newswires
U.S. consumer confidence slipped in the latest week after a sharp jump the week before, according to an ABC News index, but economic optimism was at a seven-year high.
The overall consumer-comfort index reading was -43 on its scale of -100 to +100 in the week ended Sunday, down three points from the prior week. Get the full story »
The Citizens Utility Board on Monday urged consumers to shop for better deals after AT&T’s increased its land line rates Jan. 3.
The company says the hikes spread costs among fewer land line customers. AT&T spokeswoman Brooke Vane says more than a quarter of households are wireless only. AT&T says Chicago has one of the lowest phone rates in the nation. Get the full story »
Jan. 14 at 7:45 a.m.
Filed under:
Consumer news,
Economy
By Sandra M. Jones
Chicagoans faced less price inflation than the nation as a whole last month.
The consumer price index in the Chicago region rose 0.3 percent in December as the cost of gas and food increased, the Labor Department said Friday. The national rate was 0.5 percent, the largest gain in 18 months. Get the full story »
Jan. 12 at 1:20 p.m.
Filed under:
Consumer news
By CNN
After some disciplined belt-tightening, shoppers who enjoyed a splurge over the holidays seem ready to buy more than just T-shirts and socks in 2011.
MasterCard Worldwide found that 61 percent of shoppers surveyed in mid-December said they don’t plan to cut back on spending in 2011, even after their holiday bills come due. Get the full story »
From Bloomberg | Libertyville-based Motorola Mobility Holdings and Research In Motion may lose more than 6.5 million in combined phone shipments this year as Verizon Wireless begins to offer Apple’s iPhone, according to JPMorgan Chase & Co.
The Verizon iPhone could lead to a 55 percent drop in Motorola’s earnings per share, Rod Hall, an analyst at JPMorgan in San Francisco, wrote in a research note.
