Business Insider reports the US economy could see a sharp drop in consumer spending in the coming months. That's because personal income for millions of Americans is about to take a serious hit. Enhanced unemployment benefits that gave millions of consumers an additional $600 weekly lapsed at the end of July. What's more, the US government appears far from passing a new stimulus package that would give consumers more funds.
Making cookies isn't always easy. Business Insider spoke to bakers and compiled a list of common mistakes people make when baking cookies. By not chilling the dough could be messing with the texture of your cookies. Overcrowding the pan can lead to some wonky cookies. Avoid overmixing or undermixing the dough. Using stale baking powder or soda might make cookies fall flat. Don't forget to adjust baking time if using dark colored baking sheets.
On Tuesday, spot gold briefly touched a record high of $2,000 an ounce. Traders consider gold a "safe-haven asset." There is hope another US stimulus bill is in the works. A bill could put further liquidity into markets and weigh on rates, supporting the commodity. Business Insider reports that Gold has surged nearly 32% year-to-date.
7-Eleven's parent company is buying Speedway gas stations in a $21 billion all-cash deal. After tax, the deal will bring in roughly $16.6 billion for Marathon Gas. Marathon hopes to use the sale to "strengthen [the] balance sheet." Business Insider reports the deal will create a 7-Eleven presence in 47 of the top 50 most populated metro areas With the addition of Speedway locations, Seven & I Holdings will have roughly 14,000 locations in the US and Canada.
Business Insider reports that American Express gave more cardholders access to its Pay It Plan It and Pay Over Time tools. Providing greater payment flexibility could boost Amex's payments volume despite the pandemic. AMEX has announced that its Green, Gold, and Platinum cardholders now have access to its Pay It Plan It offering.
Legally, race must not be a factor in mortgage lending in the United States. However, persistently high rates of loan denials and low rates of African American homeownership tell a different story. A 2019 Lending Tree report revealed nearly 1 in 10 borrowers get denied a mortgage. It also found other discrepancies by race and ethnicity. For instance, black borrowers have the highest denial rates, at 17.4%. Non-Hispanic white Americans have the lowest rates of denial, at 7.9%.