Retail sales increase, better than expected
NEW YORK – Americans spent more last month on clothing, electronics and dining out as the economy opened up and pandemic restrictions were lifted.
Seasonally adjusted retail sales rose 0.6% in June from the previous month, the US Department of Commerce said on July 16. This increase surprised analysts, who expected a slight drop in sales.
Spending has slowed since March, when stimulus checks prompted an increase in purchases. And as Americans get vaccinated, they spend less on goods and more on services, which is not reflected in Friday’s report.
Americans pay more for food, gasoline and other goods, with prices rising last month the most in 13 years.
Sales in bars and restaurants increased by 2.3%. Clothing store sales increased 2.6 percent and electronics store sales increased 3.3 percent.
At auto dealerships, sales fell 2%, likely due to a shortage of semiconductor chips that hurt global auto production.
The largest drop in sales, 3.6%, was recorded in furniture stores. Sales also fell at home improvement stores and sporting goods retailers.
American Air recalls idle attendants
FORT WORTH, Texas – American Airlines is canceling extended holidays for about 3,300 flight attendants and telling them to return to work in time for the holiday season.
And the carrier plans to hire 800 new flight attendants by March.
These measures are the latest indication that leisure travel to the United States is recovering from the pandemic faster than airlines anticipated.
“Growing customer demand and new routes starting later this year mean we need more flight attendants to operate the airline,” said Brady Byrnes, vice president of flight service for the company on Thursday. airline, to flight attendants in a memo.
Byrnes said cabin crews returning from leave would resume their flights in November or December.
Last year, American offered long-term leave to flight attendants and other employees to cut costs as it battled a sharp drop in travel caused by the coronavirus outbreak.
Electric truck maker receives two subpoenas
LORDSTOWN, Ohio – Lordstown Motors, an Ohio company under scrutiny of the number of orders it claims to have had for the electric trucks it wants to produce, has admitted to receiving two subpoenas from federal regulators and prosecutors of New York have opened an investigation.
The Securities and Exchange Commission has requested in a pair of subpoena documents relating to the company’s merger with DiamondPeak.
Lordstown last month admitted it didn’t have firm orders for its vehicles days after its chairman said the company had enough to keep production going until 2022. The CEO and CFO of the company resigned the same week.
In its regulatory filing with the SEC, Lordstown said the United States Attorney’s Office for the Southern District of New York is “investigating these matters.” He said he is cooperating with all inquiries and inquiries.
There are now questions as to whether Lordstown has enough funding to continue.
Ford recalls 775K Explorer vehicles
DETROIT – Ford Motor is recalling approximately 774,696 Ford Explorer due to potential rear suspension fractures.
A seized cross-axle ball joint can cause the rear suspension link to break.
Affected vehicles may experience unusual handling or a misaligned rear wheel. A ruptured rear link dramatically decreases steering control, increasing the risk of an accident.
The recall includes explorers from 2013-2017. Approximately 676,152 are located in North America.
Ford said he was aware of six reports of injuries that are believed to be linked to the problem in North America.
Nabisco plant to close after 63 years
FAIR LAWN, NJ – Friday was the last day for residents of a New Jersey town to smell the sweet aroma of freshly baked Oreo cookies as the community’s Nabisco factory closed after 63 years in business.
Parent company Mondelēz International has confirmed that this is the last day of production for the plant, which has been producing Oreos, Ritz crackers, Lorna Doones and Teddy Grahams since 1958.
The 600 workers at the plant have retired, transferred or were looking for other jobs, the company said.
Production began to slow when the company announced in February that it would close the plant in New Jersey and the other in Atlanta.
The Atlanta plant closed in June. A factory in Richmond, Virginia, remains open.
The company was reviewing bids for the plant from potential buyers. Records show that the total estimated value of the plant is $ 29.3 million.