Americans seeking relief from high borrowing rates might not have to wait much longer.

A big change could come to the US economy in September

The US economy is on the verge of an extremely rare achievement.

The US economy is pulling off something historic

Reuters

SEOUL (Reuters) -South Korea's economy unexpectedly shrank in the second quarter, clocking the sharpest contraction since 2022 as slumping consumer spending undermined an export boom, reinforcing expectations that an interest rate cut could be imminent.

South Korean GDP unexpectedly shrinks, boosting rate cut chances

Fox Business

Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a 2.8% annualized rate during the second quarter.

US economy grew faster than expected during the second quarter

Business Times

Rumors swirl around Meghan Markle's potential $15 million divorce plan from Prince Harry, raising questions about his inheritance and the state of their marriage.

Meghan Markle's $15 Million Divorce Plot Puts Prince Harry's Inheritance At Risk: 'Things Haven’t Been So Rosy Lately'

Conn's HomePlus, a venerable 134-year-old furniture and electronics retailer, has filed for Chapter 11 bankruptcy and announced plans to close nearly half of its 170 stores.

Conn’s HomePlus Files for Bankruptcy, Closing Nearly Half of Its Stores

Former President Barack Obama has notably withheld his endorsement of Vice President Kamala Harris, citing doubts about her ability to defeat Donald Trump. This hesitation underscores a significant rift within the Democratic Party as it faces the challenge of unifying behind a new candidate.

Barack Obama Doubts Kamala Harris' Ability to Defeat Trump, Withholds Endorsement; Ex-President Furious Over Biden's Exit

In response to increasing food prices and a competitive fast-food market, McDonald's has decided to extend its popular "$5 Meal Deal" through August. Initially introduced in late June as a limited-time offer, the deal has proven to be a hit among customers, prompting nearly all of the chain's U.S. locations to keep it on the menu for longer.

McDonald’s Extends Popular $5 Meal Deal Amidst Rising Food Prices and Competitive Pressures

AMC Entertainment Holdings has reached a pivotal refinancing agreement with its creditors, extending up to $2.45 billion in debt maturities from 2026 to 2029 and beyond. This strategic move aims to stabilize the debt-laden theater chain, which has been navigating the financial aftermath of last year's Hollywood strikes that halted productions and impacted theaters nationwide.

AMC Entertainment Strikes Key Refinancing Deal Amid Film Festival Buzz

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Fond Du Lac, WI

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NewsByJoshua

In a recent move that’s bound to shake things up, Mercury Marine has announced a series of partial layoffs affecting about 1,700 employees at their Fond du Lac headquarters. The company, grappling with a decline in sales, is implementing these layoffs throughout the rest of the year.

An engine manufacturer is laying off 1,700 workers due to drop in sales

Overdue credit card bills are the highest they’ve been since the Federal Reserve Bank of Philadelphia started keeping track in 2012. The proportion of card balances that were more than 60 days past due, making them delinquent, topped 2.5% in the first three months of the year, according to a report published Wednesday. That’s more than double the lows seen in the third quarter of 2021, as pandemic-era federal stimulus money helped borrowers pay off their balances in full.

Overdue credit card balances hit their highest level in more than a decade

Ohio State

Ohio is making significant strides towards the sale of recreational marijuana, with key regulatory approvals for cultivators and processors marking a major milestone. As of Monday, four dual-use cultivators and six dual-use processors have been granted certificates of operation, indicating they have met the stringent standards set by the state's Division of Cannabis Control.

Ohio Moves Closer to Recreational Marijuana Sales Amid Regulatory Advances

Motor1.com

A study shows cars are being repossessed at a shockingly high rate through the first half of 2024, exceeding pre-pandemic levels. Car prices have skyrocketed in recent years. Not everyone can afford those monthly payments, a new study shows. Recent data from Cox Automotive shows auto repossessions are up 23 percent compared to last year. That's a significant jump, taking repos to levels not seen since before the COVID-19 pandemic.

Auto Repossessions Are Soaring

TOKYO (Reuters) - Japan's factory activity contracted slightly in July as output and new orders fell and firms remained under pressure from higher prices, a business survey showed on Wednesday.

Japan's July factory activity slips, service sector solid, PMI shows

Virginia State

Cheryl E Preston

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

In a significant corporate shake-up, top executives at Japan's Kobayashi Pharmaceutical have resigned following a scandal involving a health supplement potentially linked to 80 deaths.

Kobayashi Pharmaceutical Executives Resign Amid Supplement Scandal Linked to 80 Deaths

Alaska State

The U.S. military intercepted several Russian and Chinese bombers in international airspace near Alaska on Wednesday. This unprecedented event marks the first time Russian and Chinese aircraft have jointly entered the Alaska Air Defense Identification Zone (ADIZ), highlighting the increasing military activities in the region.

U.S. Intercepts Russian and Chinese Bombers Off Alaskan Coast

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

In a troubling revelation, marine biologists have discovered significant levels of cocaine in sharks off the coast of Rio de Janeiro. This alarming finding, detailed in a recent study, has highlighted the widespread impact of pharmaceutical and illicit drug contamination in marine ecosystems.

Cocaine Sharks: Study Finds Drug Contamination in Predators, Warns of Dire Ecological Consequences

NewsBreak

US Economy Exceeds Expectations with 2.8% Growth in Q2, Signals Strong Consumer Spending

The U.S. economy demonstrated remarkable resilience in the second quarter, growing...

US Economy Exceeds Expectations with 2.8% Growth in Q2, Signals Strong Consumer Spending

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