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Consumer discretionary and consumer staples companies news.

Last year, there was more than a 70 percent increase in fraud, as American consumers reported losses of over $5.8 billion in 2021, versus $3.4 billion in 2020, according to the Federal Trade Commission.  In 2021, fraud reports were filed by almost 2.8 million consumers. According to the FTC, there...
On Tuesday, Amazon filed a lawsuit against companies AppSally and Rebatest, claiming they functioned as fake review brokers on Amazon's online marketplace. The lawsuits were filed in Seattle, Washington's King County Superior Court.  Allegedly, both companies connected consumers with third-party sellers. Amazon says the consumers agreed to leave a positive...
Competition in the virtual reality space continues to amp up as Sony unveils its PlayStation VR2 headset. Executive of Sony, Hideaki Nishino, said in a press release, "Our goal is to create a headset that will not only become an attractive part of your living room decor, but will also...
According to a top industry association, global semiconductor sales have climbed significantly higher due to a worldwide chip shortage, reaching a record half-trillion dollars. Last year, the global semiconductor industry saw sales of an astounding $555.9 billion, the highest amount recorded by the industry and a rise of 26.2 percent...
PepsiCo is targeting younger female consumers by introducing a Rockstar drink with half of the caffeine, as well as hemp seed oil, spearmint, and lemon balm. The company hopes to draw in this younger female crowd by marketing the drink in slimmer 12-ounce cans with three available flavors: blueberry,...
The pandemic brought many changes to our economy, and the lumber industry is no exception. Lumber prices have been unpredictable since the beginning of the COVID-19 outbreak, and now prices are climbing once again.  Another surge in lumber costs began again in December. Prices saw a sharp decrease from a...
American Express launched a new all-digital checking account this past week called Amex Rewards Checking to its U.S. customers, expanding its role in the highly competitive realm of digital checking accounts. The new feature was created for any non-business card member in good standing with the credit card company....
Kellogg hinted that raising prices isn't off the tables for 2022 and that it may increase productivity in response to rising inflation towards input costs. CEO Steve Cahillane reported to CNBC that the company sees “double-digit cost inflation” in 2022. Cahillane said, "We’re going to see the wraparound benefits of...
Apple Inc, the ever-evolving tech giant, is broadening its sphere of influence once again. According to Bloomberg News, the newest move by Apple has the potential to change how small businesses conduct point-of-sale transactions.  In 2020, the company paid roughly $100 million for the Canadian startup Mobeewave, which offers a...
Lowe's stores aim to become more of a "one-stop-shop" for consumers. The home improvement company is launching a pilot program with pet store Petco. The two retailers have shared that their first pilot program will launch in San Antonio, Texas, as early as February, with as many as 14...