PYMNTS-MonitorEdge-May-2024

economy

US economy is an area of the production, distribution and trade, as well as consumption of goods and services by different methods.

Main Street Businesses in the Northeast, Midwest and Mountain States Grew the Most Last Year
Main Street Businesses in the Northeast, Midwest and Mountain States Grew the Most Last Year
May 09, 2024  |  SMBs

Small businesses on Main Street have proven to be more resilient than many of their larger counterparts, according to the PYMNTS Intelligence report “Main Street...

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Labor Department Reports Year’s Biggest Increase in Initial Jobless Claims
Labor Department Reports Year’s Biggest Increase in Initial Jobless Claims
May 09, 2024  |  Economy

The number of initial claims for unemployment insurance leapt by 22,000 during the week ended Saturday (May 4). The total of 231,000 initial claims filed during the week was...

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Versatile Credit CEO Sees Steady Appetite for Consumer Financing
Versatile Credit CEO Sees Steady Appetite for Consumer Financing
May 09, 2024  |  Loans

Banks and corporates by and large showed cautious optimism regarding consumer spending during the first-quarter earnings season. Now, the operative question surrounds the use of...

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LoanDepot Says ‘Higher for Longer’ Interest Will Keep Challenging Mortgage Industry
LoanDepot Says ‘Higher for Longer’ Interest Will Keep Challenging Mortgage Industry
May 07, 2024  |  Earnings

LoanDepot expects the mortgage industry to continue facing a challenging environment. Recent interest rate increases have reduced industry forecasts for market volumes for the year, the...

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Banks Call For Greater BNPL Reporting Transparency
Banks Call For Greater BNPL Reporting Transparency
May 07, 2024  |  Buy Now Pay Later

In recent years, buy now, pay later (BNPL) platforms have gained popularity among consumers, offering a convenient way to finance purchases through installments. However, the lack...

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High-Income Consumers’ Rising Secondhand Purchasing Drives Luxury Consignment Growth
High-Income Consumers’ Rising Secondhand Purchasing Drives Luxury Consignment Growth
May 07, 2024  |  Retail

With high-income shoppers disproportionately growing their adoption of secondhand retail channels, The RealReal is seeing its consignment business grow. The luxury resale online marketplace shared in its...

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Live Events Take Center Stage in Consumer Spending
Live Events Take Center Stage in Consumer Spending
May 07, 2024  |  Earnings

As consumers feel their budgets come under pressure, people continue to spring for live event tickets, Vivid Seats’ latest earnings results reveal, even as they cut back on...

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American Express GBT: Global Multinationals Increase Their Business Travel
American Express GBT: Global Multinationals Increase Their Business Travel
May 07, 2024  |  B2B Payments

American Express Global Business Travel (Amex GBT) saw global multinational customers increase their business travel during the first quarter. The growth in travel by these companies outpaced that...

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Tesla Cutting Jobs Across Departments as Part of Restructuring
Tesla Cutting Jobs Across Departments as Part of Restructuring
May 06, 2024  |  Economy

Tesla has reportedly laid off employees across several departments over the last three weeks. These job cuts follow the automaker’s announcement three weeks ago that it...

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