Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday.Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for…

Lockheed Martin is buying Terran Orbital, the company announced Thursday, with the defense giant reaching a deal to take the struggling spacecraft manufacturer private.The agreement will see Lockheed acquire Terran at an enterprise valuation of nearly $450 million, below Lockheeed’s previous bid of nearly $600 million in March.Lockheed would acquire…

The backbone of America’s economy remains solid, despite a slowing job market, elevated interest rates and still-high inflation. Sales at US retailers unexpectedly surged in July, the Commerce Department said Thursday, rising by a solid 1% from the prior month, up from June’s downwardly revised 0.2% decline. That trounced economists’…

Co-authored by Treading Softly. When you decide to give somebody a gift, you can often choose between two categories. The first category includes tangible items such as a book, a set of skis, or a television. The second category includes experiences such as an annual pass to your local zoo,…

Stay informed with free updatesSimply sign up to the Life & Arts myFT Digest — delivered directly to your inbox.One of the world’s great divides is between people who can afford to go on holiday and those who can’t. Asser Khattab, a Syrian refugee in France, recalls, “I grew up…

Vice President Kamala Harris on Friday is expected to call for a federal ban on price gouging to lower grocery prices and everyday costs for Americans in her first economic policy speech in Raleigh, North Carolina. The proposal is part of Harris’ efforts to prevent corporations in the food and…

Young adults in the U.S. have been skeptical about Social Security at least since the days when I was one of them. Today’s younger generations are no different, and that’s affecting their retirement planning. About 47% of non-retirees believe Social Security won’t pay them any retirement benefits, according to a…

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Check out the companies making headlines in premarket trading. Kellanova — Shares rose more than 6% in the premarket after the foodmaker agreed to be acquired by snackmaker Mars for $83.50 per share in cash. The deal values Kellanova at about $36 billion and is expected to close in the…

Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting…